Identity Theft ~ Pinoy Reviews

Bringing Filipinos news, reviews, and resources about the rest of the world.

Thursday, May 8, 2008

Identity Theft

If you have seen The NET starring Sandra Bullock, you have an idea of what identity theft is, though that is the most EXTREME version of identity theft. Identity theft happens when someone other than you or your authorized representative uses your personal information such as name, address, social security number, credit card numbers, and other sensitive information.

Though credit card numbers get stolen and used in the Philippines almost every day, it can easily be resolved since credit card companies would just reverse any charges to your credit card. In the US however, third parties using credit card information or social security number can severely affect a person's reputation. How? Well, there's a credit rating system in the US and identity thieves using a person's personal information can affect a person's credit rating, thus affecting their reputation or credit standing. When a person has a bad credit rating, they get higher interest rates or may not be eligible for loans and new credit cards.

If you want to protect yourself from identity theft, there are services in the US such as lifelock that can do this for you. Though Identity Theft can be easily prevented on your own, hiring these kind of services would take off one less worry on your life.