Identity is truly an underestimated phenomenon in our lives, many of us don’t know the power of it and also many of us don’t know how it can be used against us. Identity theft is a new breed of illegal practice where an identity of a person is stolen and used against him. A stolen identity is a big power in the hands of a thief, it can lead to situations as grave as imprisonment!
Let me just give you a brief idea of what all malpractices can be done with your identity:
- Bank Related frauds: Thanks to technology and hacking all your information can be accessed online and your hard earned money can be taken from you just like that. Your account information and the login details can help anyone to erase your account and leave you with nothing. Protection of your personal information is very essential for safeguarding your accounts.
- Card Related frauds: Your personal information can be used for applying for bank credits and also for credit cards. You can be late to realize that someone else is spending on your identity! This makes it very crucial to handle your information carefully. Again thanks to technology cloned debit cards can be used to wipe off your account.
- Employment related Frauds: Now these are the advanced use of your information for putting you in trouble. Imagine an individual existing with your name and identity!! Yes it is possible entrepreneurial thieves are ready to sell your name for the right price for someone who is restricted entry into the country.
- Payday Loan fraud: Payday loan is a short term loan which is used for meeting ends meet during a month. Your information can be used for availing a payday loan and leave you with a debt which you are not aware of. They can even avail loans from multiple states which can put you in even more nasty situation.
- Government documents: Yes it is true!! Even your government related documents can be used against you with your personal information. Our personal information has a lot of power to destroy us if it is with the wrong hands.
- Other Frauds: Personal information can be also used against you through many other frauds like benefits frauds, Tax and wage frauds, phone frauds etc.
So as you can see your personal information can be used against you through many means which can prove disastrous if u fall victim for any of it.