Control Your Identity or Lose Big

There's a lot of money to be lost if you lose control of your identity. You might think you're fine since the bank offers protection and the credit card company limits your liability. But identity theft is a crime about much more than just money. It's about using the identity of another person to commit fraud, and it is often hard to prove that the one who committed it wasn't you!

In addition to the financial crime, like purchases on your credit card, there might also be illegal aliens using your Social Security number, bought from your identity thief, or loans taken out and defaulted on. Your identity is your reputation, who you are. To have that sullied, aside from the financial losses, can be an incredible blow to your peace and your future security as well.

There are many definitions for identity theft, and depending on who you are it can be inclusive or very restricted. However, the Federal Trade Commission defines it as "a fraud which is committed or attempted using a person's identifying information without lawful authority." They define it much more broadly, for example, than credit card companies which would prefer to limit it so that they are not left holding the bag when thieves cannot be traced.

So, it's about money and so much more. Clear enough. Now what? It helps to know how identity thieves get their hands on your numbers so that you can control your identity.

How Your Identity Gets Out of Your Control

This is just a sampling of some very low-tech ways your identity ends up out of your control and in that of identity thieves:

• Fake address changes at the post office - Many thieves target a apartment complexes and subdivisions, writing down names and addresses from mail boxes. Then they file postal office change of address forms. They put the new address as their own or to some P.O. Box, then just wait for all your personal mail to come pouring in with the mail of other unfortunates. Then, they sift through it looking for account numbers and PIN numbers. And they are off and running, charging things, opening accounts, applying for loans, you name it.
• Pickpocketing or purse theft - What do you have in your wallet? Good question! What about your pocket book? Even more personal information, handwritten notes, maybe PIN number or password reminders? You might also have bills about to be paid, perhaps even with already filled out checks inside.
• Impersonation scams - Thieves can present themselves to government offices, or bank personnel as you, maybe in person, maybe on the phone. Either way, with drug addictions often making them as bold as you can imagine, soon they have spun a tale of woe that parts well-meaning clerks or bookkeepers with your very personal information.
• Garbage picking - Once you've tossed out your refuse, it is no longer your private property. So, you might think twice about chucking those tax returns and old account statements into the garbage as is. Investing in a paper shredder might be some of the best money you ever spend. People as desperate as identity thieves, many of whom are meth addicts, are willing to go that low to get what they want. And your personal information could be the very think that keeps them fed and into their next high.

Believe it or not, this is how most identity thieves do it. They don't have the wherewithal to do such high tech techniques as skimming, which uses electronic devices to gather account numbers, etc., nor do they have to resort to phishing, which also requires a level of technical sophistication many identity thieves can't muster.

How Do You Control Your Identity?

Well, for each of the above there is a tip implied: Shred your documents before you toss them in the dumpster. Take your name off your mailbox and put a lock on it if it doesn't have one. Don't keep passwords and PIN numbers in your wallet or your purse. There are others. But you have to ask yourself an important question: How vigilant are you?

Do you really want to spend your days like some paranoid who worries over every letter coming and going? Do you want to live like a prisoner in your own home, always on the alert,worried if someone has something on you that they could use to rip you off? Do you really want to comb through credit reports line by line looking for wrong addresses and accounts you didn't open, etc.? Oh, how exhausting it all can be, how daunting it can all feel.

Or you can go about your business as you did before, being a little wiser, and leave it all in the hands of an expert identity control specialist like LifeLock. Why not put your efforts toward a happier marriage, a happier home, a cleaner garage, a better golf swing, more time at the beach, or whatever floats your boat. And spend the hundred or so dollars a year it takes to guarantee control of your identity up to $1 million in damages!