Credit Theft – What is this?

bigstockphoto Online Credit Card Fraud 1303887 Credit Theft – What is this?There are about 9 million Americans who fall victim to credit theft every year; and the number is growing steadily. This type of theft is when your name and your social security number are used to avail loans, or when your credit card is used in an unauthorized manner.

This has become a “business” today since the technological advancement is making it easier everyday to use hacking systems and tap into people’s personal (financial) data. This is why it is very important that every person know what credit theft is and is able to set up measures that guard against such theft.

Most banks acknowledged this potential danger by issuing second and third tier passwords and PINs to prevent online credit theft. Ensure that you are aware of and subscribe to such measures to make your credit card use more secure.  At the same time, beware of keeping any sensitive information in your email inbox – since emails can be hacked quite easily in this technological age. This also applies to setting up passwords on the internet. Be careful when you create passwords. Passwords should not be easily figured out or you could be the next potential victim of credit theft. It is advised to NOT use birthdays, social security numbers, addresses or family names as passwords because someone with enough time and ingenuity can then breach your accounts with much more ease.

Source:  Credit Theft – What is this?

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