Believe it or not identity theft has moved to the dead. The scam artists search the obituaries where they find valuable information that gives them a jump start at identity theft. Although the deceased don’t have to be concerned with keeping their credit rating good, the emotional burden of the crimes cause undue stress on the family. They assume the identity of a deceased person and could live for years under that name before anyone finds out. Notify all 3 credit reporting agencies of the deceased and have them put a deceased flag alert on the account.
The most common use is credit card fraud. Armed with personal information such as a name, date of birth, and Social Security number, thieves can impersonate someone else in order to open new lines of credit. Besides opening new lines of credit, identity thieves can use their ill-gotten information to take control of existing accounts. With the increased growth of those that try to prevent identity theft throughout the world, including the U. S., it pays to be vigilant. They do this by using their victim’s personal information to verify the thief’s identity as the real account holder.
First let’s review what happens in an identify theft crime. Once the thief has opened the new accounts such as Visa cards, department store cards, even personal loans, the thief gets as much money as he can on those accounts, then disappears into the sunset. The first time you are aware that your identity has been compromised is when you get a phone call from one or more of the accounts inquiring as to your plans for your very high and very past due balance on an account that you didn’t even know you had.
This means that they can easily conduct financial transactions under your name but for their benefit. Victims of identity theft can be affected in a number of different ways, but all of them are adverse. Luckily, most financial institutions and credit companies are aware of the scourge of identity theft throughout the world.
