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What is Identity Theft?
Identity theft has become one of the most common criminal offences in Canada. This kind of theft usually occurs when someone takes possession of personal information such as your name, address, social security number, credit cards and/or driver's license along with other data. The intent behind committing this crime is to take illegal advantage of your identity, and your assets. The goal is for the thief to avoid the repercussions of their dishonest actions through impersonation of the victim. In some cases identity thieves have even gone as far as to try and sell property and embezzle the money. The largest credit bureaus in Canada receive over 1,800 identity theft complaints a month from Canadian Citizens.
1. Financial / Credit Identity Theft
Credit identity theft occurs when someone uses your information to obtain loans, goods or services and doesn't pay the bills. Their actions often include opening a credit card account fraudulently and attaining government benefits, passing bad cheques or opening a new bank account. Getting loans in another person's name is another way that identity thieves are able to attain finances. Due to the accumulation of bills the victim's line of credit is often negatively affected.
2. Medical Identity Theft
Through the use of a name and other aspects of one's identity the thief obtains medical insurance in the victim's name or uses their current medical insurance policy to obtain medical care or prescription drugs. Using the stolen identification, the thief is able to obtain consent to have medical services, or goods provided. If you are a victim of medical theft, you can be denied health coverage or lose your current health coverage because of false information being put on your medical record. This type of identity theft is the most dangerous form due to the thief's ability to change existing medical records that could potentially be life threatening for the victim, and is unfortunately the hardest theft to track, stop and fix.
3. Criminal Identity Theft
This type of identity theft occurs when someone has personal information including a valid driver's license and other forms of ID. Identity culprits are then able to obtain other false credentials to show authenticity to the stolen identity. The ID thief then impersonates the victim when apprehended for any type of crime or illegal act. They use the victim's information so that the crime will not show up on their own record and instead on the victim's. In this situation warrants could be issued for your arrest, you could be detained and end up spending time in jail for a crime you didn't commit. Often this type of identity theft is discovered when the victim is pulled over and ticketed for speeding or a smaller road violation. Criminal ID theft is just as difficult as medical ID theft since it is difficult to explain, fix and stop.
4. Social Security Identity Theft
Your social security number may be the most valuable piece of personal information a thief can steal. With this one piece of identification, a dishonest person can obtain other personal information to validity the identity. In some cases when a social security number is stolen the thief uses it when hired onto a new job. Specifically, they use your name and identity as their own. The thief's employer reports wages and the victim is forced into paying income taxes on those earnings. Another repercussion to this form of theft is that the victim will lose life sustaining benefits.
5. Synthetic Identity Theft
Synthetic ID theft is a fairly new type of identity theft and in which the criminal attempts to convince people that they are another person who is either real or fictional. In this case a thief will take information from various victims and combine it to create a new identity. In this case all victims whose information has been collected and used in the new identity will negatively be affected, although some more than others. Synthetic identities can be completely fabricated in some cases but a common technique is to obtain a real SSN number. This type of theft is more difficult to catch because the perpetrators credit report is difficult to track and obtain.
6. Child Identity Theft
Child ID theft occurs when a social insurance number is obtained and used to impersonate a child. Young children are an easily accessible target for identity theft because they are completely unaware that their information is being used, and discovery of this theft is usually not until the child is older. For this reason child identity theft has become a growing concern that can be difficult to avoid. When children are young the last thing they are concerned about is checking their credit. Often the culprit is a close family member or family friend who has stolen such information. Because the victim typically knows the person who has taken their identity, legal action is often not pursued.
Protect Yourself Against ID Theft
As long as "trusted" facilitators and have access to private information, you are always at risk for identity theft. It only takes this valuable information to fall into the wrong hands once, for identity theft to ensue and cause an uproar of liabilities for the victim.
To protect your assets including your property, credit rating, insurance and finances from being taken from you by an identity thief, avoid giving out personal information as much as possible, shred all unwanted mail, and never carry your SSN card with you. As well, keep private information out of eye sight and monitor your credit regularly.
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