Identity theft is a serious crime and it occurs when someone's personal information is stolen and used without their knowledge to commit fraud or other crimes. Identity theft can cost individuals time and money. It can destroy their credit and ruin their good name.
Each year, millions of Americans have their identity stolen.
"We know that identity fraud, in its various forms has affected 10 million people in any given year, and what that means in dollars, is that its loss to businesses of about $50 billion. On top of that, victims of identity theft have spent $5 billion trying to undo this harm," states Betsy Broder, Assistant Director, Federal Trade Commission, the nation's consumer protection agency.
The Federal Trade Commission wants you to have the information you need to protect yourself against identity theft. This information is summed up in the FTC's clear and concise message on identity theft: Deter, Detect, Defend.
DETER identity thieves by safeguarding your information.
DETECT suspicious activity by routinely monitoring your financial accounts and billing statements.
DEFEND against ID theft as soon as you suspect a problem.