It’s a terrifying thought: Someone can purchase a house or car in your name and you might not even know it. And it will end up costing you either time, money — or both.
Identity theft is one of the fastest growing crimes in America, and all a thief needs to steal your identity is your Social Security number.
The U.S. Department of Veteran’s Affairs and the Federal Trade Commission have cautioned veterans to be on the lookout since Monday’s news that the FBI is looking into the May 3 theft from a Maryland home of personal and Social Security information for as many as 26.5 million veterans and their spouses.
It remained unclear Wednesday whether any of the data has been used illegally. VA Secretary Jim Nicholson has said the crime appeared to have been a random burglary, and it is possible that the perpetrators do not know what kind of information they possess.
But Michelle Boykins, communications director for the National Crime Prevention Council, said that if the thief didn’t know at the time what he or she was taking, they know what they have by now.
“They can either figure out how to use it to steal your identity,” Boykins said, “or sell it to folks who do.”
About 10 million people will have their identities stolen this year, resulting in more than $5 billion in out-of-pocket expenditures for victims.
The largest sector of victims are between 18-29 years old, Boykins said.
If your identity is stolen, it can take years to clean up the mess.
Thanks to the Internet, personal information is more readily accessible than ever. It has created a new class of victims.
Anyone who suspects that they are a victim of identity theft, or have had their information exposed, should file a fraud alert with the Federal Trade Commission and alert a credit bureau, Boykins said.
