Business & Finance Finance

Should You Be Afraid of Identity Theft

Most of us are afraid of darkness. When we see dark alleys or deserted roads, we tend to find other ways of getting to our destination without passing through those dark pathways.

Most of us are afraid of death. We do not want to imagine ourselves placed in a coffin and be buried six feet below the ground. Sometimes, we wish that we live in this world forever, for we do not know what life is waiting for us after death.

But how many of us are afraid of identity theft? If you know nothing about identity theft, probably you will just wonder what it is. Is it a terrible feeling or a mysterious thing that should be paid close attention?

However, for millions of identity theft victims, the term is enough to be scared of. If possible, they do not want to hear that word again, for it brought misery and serious trouble into their lives.

What you should be afraid of identity theft? Does such thing could kill you?

If you cannot handle it, probably it will lead to your death, which you do not want to happen.

Identity theft is the assumption of your identity by another individual. He/she will assume your identity and take full control of whatever you have in your life--personal assets, bank accounts, and others. That is one thing that you should be afraid of identity theft. Such crime can lead your life to financial chaos, especially if your identity was stolen by a convicted criminal or a member of a high-profiled syndicate.

Supposedly you are running a successful business and you managed to increase your earnings every year. However, once a crook steals your identity, he will now present himself as "you". He will use your identifying personal information for whatever reasons it may give him an advantage.

He will use your identity to steal money from you. Since he can pose himself to be you, he can have full control over your finances, especially if he managed to steal your bank account or credit card numbers. He can make withdrawals and use your credit cards to purchase anything he wants. Your credit rating may be affected, especially if you cannot settle your credits courtesy of identity thieves.

He may use your identity to get away from the hot pursuit conducted by police authorities. The criminals will use your identity to hide themselves from the authorities, thus giving them the freedom to get out of the country without being noticed.

According to the U.S. Department of Justice, there is an estimated 10 million identity victims each year, 90 percent of which are adults and the remaining percentage are older individuals. In addition, $6.4 billion are lost due to identity theft, thus making it one of the dangerous crimes in the financial and personal lives of ordinary individuals.

You should not be afraid of the dark anymore. Moreover, you should be brave enough to face death, since it is a natural phenomenon that will happen to each of us. However, you must be brave enough to protect yourself against identity theft. And if ever you became a victim of this very dangerous crime, do not let the perpetrators go away as simple as that. You must be brave enough to defend your right against malicious use of your identity and bring them to justice.

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