Jewelry, electronics, your car – in the past, if a thief wanted to rob you they stole your valuable possessions. But in today’s information-based world, there’s something even more valuable that thieves can take from you: your identity.

Armed with personal information such as your Social Security number, credit card number, name, and address, an identity thief can drain your bank accounts and commit fraud in your name. It is possible that you won’t find out you are a victim until the thief is long gone.

More than 15 million people become victims of identity theft every year. An identity is stolen every two seconds in the United States – the fastest growing crime in the U.S. for the past four years.

How Identity Theft Happens

Your identity is one of your most valuable possessions. Your Social Security number, bank account numbers, and personal information are all a thief needs to commit identity theft.

How do thieves get your personal information? They use every trick in the book – and they’re constantly coming up with new ways.

Mailbox Raiding & Dumpster Diving

Mail from banks, institutions, and even new credit card offers contain valuable personal information which identity thieves can use to drain accounts and open new credit cards in your name. They get the information by stealing mail right out of your mailbox, or as in the case of dumpster diving, out of the trash after it has been thrown out.

Phishing

If you’ve ever received an email from a “bank” or other financial institution asking for account information, thieves could have been phishing for your identity. (The word is derived from “fishing,” because the emails are like bait.) Clicking on their link will send you to a site that looks the same as the actual institution, but actually belongs to the thief. When you enter your information, the thief has won.

Vishing

A combination of the words “voice” and “phishing,” vishing is like phishing, except the thieves use the phone instead of email. They may leave a message pretending to be your bank or some other company. When you call back, they’ll take your personal information.

Medical Benefits Fraud

Increasingly, thieves have started seeking treatment using another person’s name and medical insurance information. They can get it by stealing your wallet or hacking into a doctor’s or hospital’s computer system.

Spyware

Spyware is a malicious computer program that installs itself on your PC and then allows thieves to record your personal information – like a credit card number, password, or Social Security number.

Skimming

Skimming is a way for a thief to get your ATM or credit card information by installing their own card reader on an ATM machine. When you pass your card through the skimming device, it records your card information.

Corporate Data Breach

Trusted businesses, like your employer, your local bank, and other organizations have a great deal of your personal information stored on their computers. Thieves can gain access to this information by hacking into the network, by posing as a business partner, or after an employee loses a computer, disk or box of files.

Social Networking Sites

Identity thieves are using social networking sites like Facebook and MySpace® to find out your personal information. They use the information they find on the site to pretend to be someone they’re not and coax other information out of you – like your Social Security number.

Child Identity Theft

Child identity theft works the same way as it does for adults: the thief acquires a child’s personal information, and then creates fraudulent accounts in their name. But because children usually don’t have financial accounts until they are older, no one may find out about the theft for many years, allowing the problems to be greatly compounded.

Senior Identity Theft

Seniors are particularly vulnerable to identity theft, because most have significant accumulated wealth, and are often unable to monitor their accounts carefully. Many are also less knowledgeable about technology, and more trusting of strangers and marketers, increasing their vulnerability.

Student Identity Theft

College students are another high-risk group. School registration days and frequent unsolicited offers for new credit cards provide many opportunities to share personal information and Social Security numbers. Combine that with frequent address changes and unforwarded mail and it’s a group ripe for picking by identity thieves.