Realizing that someone has stolen your personal information and even your identity can be a frightening experience. Knowing that your name is being used in ways you would never use it yourself can make you feel as helpless and angry as if someone physically broke into your home and stole your silverware and jewelry.

There are several ways that you might discover your identity has been stolen. One of the most common is by reviewing a copy of your credit report and discovering debt or other transactions on there that you have no knowledge of. You may also find that you have stopped receiving credit card statements, only to learn when you call the company that they have been diverted to another address. You may receive legal notices or telephone calls from collection agencies trying to recover borrowed funds.

Once you have discovered that your identity has been stolen, you are not helpless. There are channels to report the identity theft and to assist in clearing your credit and recovering lost funds. The sooner after discovery that you report the crime, the more likely it will be that you can get your life back in order quickly.

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The consequences of being an identity theft victim are well-known, but what are the consequences to the perpetrator if he or she is caught stealing someone else’s identity?

In recent years, the federal penalties for identity theft have strengthened under the Identity Theft Penalty Act, enacted in 2004. Prior to the Act, most instances of identity theft were considered misdemeanors and punishment was slight.

The new Act makes identity theft a federal felony and imposed increased penalties and jail time for identity theft cases connected to other federal crimes, such as terrorism and mail fraud. The Act imposes the following punishments for those convicted of identity theft:

• The maximum federal jail sentence for identity theft was increased from three to five years
• If the theft included the use of a phishing scam, an additional two years was added on

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Phishing schemes are a form of internet fraud that are usually delivered through email. The goal of phishing ploys is to get the victims to disclose sensitive personal or financial information in order for the thief to use it later for their own financial gain. They often show up looking like emails from your bank or credit card company. They can be notifications that you have won a prize but need to fill out some information to claim it. They can even look as if they’re coming from your social networking friends asking for money.

Phishing emails can be very elaborate and can fool even the most vigilant victim if they are not paying attention. Many warn that if the email is not heeded, your accounts may be frozen. Encouraging people to act quickly often overrides their common sense.

Here are the best ways to protect yourself from this growing internet crime.

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The effort for protection against identity theft is relentlessly growing. Earlier to assure that your individual identity is out of danger it was a simple activity to keep your important documents locked up and to ensure that you are not discussing your social security number over a telephone conversation. It doesn’t state that such activities are not useful, but in today’s world there are far more practices to put in play to your identity totally safeguarded.

You Never Know When or How Identity Theft Will Occur

Those days are long gone when identity thieves used track trash bins and tap phone calls to gain the required personal information for carrying out an identity theft. With the development of technology, the creative devilish minds also developed dangerous frauds to steal your identity. Thus, it is important to detect their activities before becoming the victim. Since it has become a difficult task to locate where, how, or when you will be trapped by identity theft, it is highly recommended to keep your identity theft protection away from vulnerable avenues where the thieves are most likely to break. However, it is more logical to enroll with a top-rated reliable identity theft protection company, where identity remains under their safeguard. Read the rest of this entry »

In today’s technologically blessed age, it is possible for hackers to collect your personal information with utmost ease. They can not only collect but share your information with others in the shortest possible time. Although there are federal laws to prevent such incidents but the overwhelming increase in identity theft highlights the need of more sophisticated strategies.

Identity theft is one of the biggest issues in America, both in digital and physical world. Actually, most of these incidents take place when people do not pay attention to specific points. Read the rest of this entry »