You went to the bank and wanted to get a loan so you can build your dream home. This is a surprise for your fiancé so that in time for your wedding, the two of you can have your very own place. But then you got rejected and was advised about a previous home loan in an address you have never heard of. This comes as a shock since you had nothing to do about this. Chances are you have been targeted by swindlers.
Identity theft is so rampant nowadays because these criminals find it easy to target their victims and the victims are making themselves vulnerable and tempting. The point here is not to blame the victims but if you as a person know how to guard your assets and yourself from being used by others, the event would probably not occur.
Who are the likely victims of ID Theft? A study done by Experian categorized the victims as wealthy people who have finished college in reputable universities, involved in charity and donation programs, loves to travel, are into sports like tennis and skiing and other leisure activities. These people are usually residents in the suburbs who have helpers and contractual personnel working for them whose security is not strict enough that their personal effects and belongings can be found anywhere at home and in the office. These can be stolen and be used to apply for credit and the Identity Theft starts.
Reports also show that people with luxury vehicles are also more prone to ID theft. They live in the uptown with their homes owned and not rented, usually in high-income neighborhoods or in condo units and apartments in the metropolitan area. Impostors use people with these attributes because lenders find them appealing as customers. The problem is everything is a hoax. After a few years, you are banned or barred from loaning because someone faked into being you.
How can you protect yourself?
Bills of Sale, receipts, monthly bills and documents containing your personal property or financial standing should be for your eyes only. You must also be wary of your credit reports. Make use of the free reports being given by the Credit Bureaus. Apply for a Credit Monitoring company so that every purchase or loan you make, there has to be an approval from you directly with some sort of process before it pushes through. Make your signature difficult to forge. Other than these suggestions, it would be much better to prevent others of getting information about you by keeping to yourself.