Identity Theft - What is it?

Identity theft is one of the fastest growing means by which criminals can fraudulently obtain money with little fear of being caught. Your identity is assumed, credit card applications are made, new bank accounts are opened, NSF cheques are written in your name, and your good credit history is damaged.

Once consumers become aware of the problem, they are left to straighten out the mess. They will have to convince the credit card companies, credit reporting agencies and probably the police and other agencies that they were victims of identy theft and not responsible for the string of debts that have been left owing in their names. To make matters worse, every time they apply for new credit they will be questioned about the previous bad history. Even though it is not their fault, they will be treated initially as though it were.