Identity theft used to be somewhat rare.. but that was 20+ years ago. Now that we're at the end of the first decade of the 21st Century, identity theft has taken off as THE crime. Unfortunately, most people still believe they're safe from it and don't even think about using any kind of identity theft protection.
The main factor that's fueling the increase in id theft is the instant financial transactions we've come to expect from stores, banks, ATM machines, and credit cards. Modernized society has mostly gone paperless and conducts it's financial business in a virtual world. The need for speed in these transactions is what identity thieves count on to conduct their business and make their fortunes.
Instant credit and fast transactions have become the norm. We tend to feel very inconvenienced if there's any type of slowdown. To increase the speed, banks and credit card companies like Visa and Mastercard have developed procedures that make every attempt to be completely secure but still have flaws. It's these small flaws that open opportunities for hackers to gain access to millions of identities.
All over the world are creative, smart and talented people with tons of programming ability. They may not have employment opportunities in their countries and turn to hacking as a way to make a living. The internet has made the entire world one huge global community - no one has to actually commit this crime in person. The odds of getting caught are slim and even slimmer to actually be convicted of identity theft.
Dumpster diving is still a tried and true way to steal identities. The 'divers' aren't randomly poking around in just any old dumpster. They've targeted the ones outside of business that deal with financial information such as cell phone stores, mortgage lenders, call centers, colleges and more. If you think companies shred information before throwing it away, you're wrong. A dumpster can be a treasure-trove of information.
Thieves will also steal laptop computers and/or hard drives with sensitive information in them. Here's an example of a recent theft on March 29, 2008 from the Department of Human Resources in Atlanta, GA as reported by PrivacyRights.org:
A thief has stolen computer records containing identifying information on current and former employees of the state Department of Human Resources, including names, Social Security numbers, birth dates and home contact information. An external hard drive that stored a database was removed by an unauthorized person. An Unknown number of identities were stolen.
Or how about this one on April 4, 2008 affecting 60,000 members of the Harley Davidson 'HOG' Club:
A laptop computer containing certain HOG members' personal information was determined to be missing from their facilities. The personal information stored on the computer included names, addresses, credit card numbers, their expiration dates, and driver's license numbers.
Yes, you do need identity theft protection. You can do it yourself or you can choose one of the many excellent companies that will protect you for a small price. Don't be caught with your identity exposed - get protected!
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