According to information provided on the Federal Trade Commission's website, identity theft is defined as "The act of stealing your good name to commit fraud."
Identity theft (or identity fraud) involves using another person's name and information to do such things as obtain credit, steal money from the victim's existing accounts, and apply for loans. Some estimates show that more than 900,000 people have their identity stolen every year—a frightening statistic that is costing consumers and the financial industry billions of dollars.
Although no one is completely immune, you can take action to avoid having your identity stolen. The following are a few suggestions on how to best protect your name and your good credit.
If you find yourself a victim of identity theft, immediately take the following actions:
For more information about identity theft, visit the following websites:
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