we will be talking about the dangers of identity theft of Identity Theft
The Danger of Identity Theft
- thieves steal all your stuffIdentity theft or identity fraud happens when a thief gains access to personal information like your name, address, credit card or bank account numbers, Social Security number, phone or utility account numbers, passwords, or medical insurance numbers—and uses that information for their economic gain.
The Financial Toll of Identity Theft
- thieves take your moneyThrough account takeover, identity thieves can also take over your investment and other financial accounts, the impacts of which could affect your retirement, your mortgage, and your child’s education. And identity theft isn’t necessarily something you can forget about, especially when it involves sensitive personally identifiable information like your Social Security number. Thieves may not use your information for months or even years—waiting for a time when you may not be as attentive to the risk. Thieves can also sell personal information on the dark web. You may have to stay alert and watch for red flags indefinitely.
The Emotional Toll of Identity Theft
- thieves taking your stuff makes you sadPerhaps a less obvious impact of having your identity stolen is the emotional toll that can accompany it. Identity theft is often a faceless crime that can trigger a host of emotional reactions. The first feeling that victims may experience is anger. But after the initial shock, other challenging and long-term emotions may come into play.For example, someone who steals your identity can commit crimes in your name, which can directly harm your reputation and be stressful to fix. If you’re applying for a job and a criminal record pops up in your background check, it may affect not only your employment but also your feelings of self-worth.
The Physical Toll of Identity Theft
- identity theft is stressfulIn its 2016 ITRC survey, 23 percent of ID theft victims surveyed feared for their physical safety, 39 percent experienced an inability to focus, 29 percent reported new physical illnesses such as body pain, sweating, and heart and stomach issues, 41 percent had sleep issues, and 10 percent couldn’t go to work due to resulting physical issues. This is a highly stressful event. And before you clear your name, your arrest record may still pop up on background checks, affecting everything from employment to your housing options down the road. For example, you could lose your home if your credit and mortgage are affected. You could lose your job if your work is affected, and you could also fail to obtain new job offers.
The Social Toll of Identity Theft
- thieves can ruin your reputationIn today’s cyber-focused world, the Internet is another way identity thieves can gain access to personal information like passwords to your email and social media accounts. Whether you rely on social media for your profession or use it to stay in touch with friends and family, hackers could damage your reputation or put your job on the line by using your current accounts—and even creating new, fraudulent accounts—in which they post while pretending to be you. On a more basic level, recovering from identity theft could affect personal relationships as you feel all of these stressors—and also if you ask family and friends for help and financial assistance while you get back on your feet.
How to Receive Help for Identity Theft
- Its good for your health to seek helpOne of the best things to do is act quickly to limit its impact—and seek help. Depending on the type of ID theft, this can involve reaching out to a variety of entities, including the three major credit reporting agencies, banks, the Social Security Administration, the IRS, the Federal Trade Commission, and law enforcement. Victims who are suffering emotionally and physically should speak with their family, friends, or anybody they trust about their experince.