Identity theft fastest-growing crime
By Kim Dishler
Rocket Editor-in-Chief
Issue date: 4/8/05 Section: News
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Identity theft is the fastest growing crime in the United States according to the Identity Theft Resource Center (ITRC).
"There's no need today to have a gun to steal money," James Popovich, Account Manager with Bank One Education Finance Corporation, said.
Popovich spoke to Slippery Rock students Wednesday about the dangers of identity theft and how to stay protected.
According to the Federal Trade Commission (FTC) identity theft occurs when someone uses your personal information such as your name, Social Security number, credit card number or other identifying information, without your permission to commit fraud or other crimes.
According to two studies done in July 2003 by Gartner Research and Harris Interactive, approximately seven million people became victims of identity theft in the prior 12 months. That equals 19,178 per day, 799 per hour, 13.3 per minute.
"Not only can they steal money from you, they can commit crimes and you're the one who's in trouble," Popovich said.
Popovich said there are about 1.3 billion credit cards in circulation and about 10 million people had their identities stolen, costing businesses and financial institutions $33 billion in losses.
"The affect on identity theft goes beyond if it happens to you," he said. "You as a consumer have to pay for those who don't pay."
Personal information can be obtained in a number of ways. Identity thieves may go "dumpster diving," looking for information in your trash they can use against you. For instance, if you throw out pre-approved credit card applications, an identity thief could obtain a credit card in your name. This is why Popovich stressed the importance of owning a paper shredder to shred any documents that might have sensitive information, including ATM or credit card receipts.
Identity thieves can also steal mail, complete change-of-address forms, obtain credit reports illegally, access it on a computer or scam information from you by posing as a legitimate business person. Stolen wallets may be the most common and easiest way for an identity thief to strike. Popovich said it's important not to carry unnecessary information around with you.
