Shepherd, Finkelman, Miller & Shah, LLP
Shepherd, Finkelman, Miller & Shah, LLP
866-540-5505 877-891-9880

Dedicated Client Advocacy

The aftermath of identity theft

The Equifax breach earlier this year—which enabled hackers to steal the personal information (Social Security numbers, birth dates, addresses etc.) of nearly half the American population—is a large-scale example of identity theft. The personal impacts on you if you suffer this kind of violation can be even more devastating than you might suspect.

Identity theft is a type of consumer fraud in which someone steals your personal information and, posing as you, commits fraud or other crimes. Examples of such crimes include:

  • Setting up bank accounts fraudulently
  • Illegally using your ATM or credit card
  • Filing a change of address in your name
  • Misusing your Social Security number

Because the perpetrator commits these crimes under the guise of your identity, this type of fraud also puts you at risk for being wrongfully accused of crimes committed by the imposter.

There has been an alarming increase in incidents of identity theft in the U.S. (up 16 percent in the last year). In addition to the financial consequences a victim of this kind of violation faces (e.g., being unable to get credit cards, getting turned down for loans or going into debt), the physical and emotional aftermath can be equally severe. Here are some ramifications of identity theft that you may not expect, according to the recent Identity Theft Aftermath report:

  • Severe distress
  • Frustration, anger and/or rage
  • Fear of financial future and family security
  • Feelings of vulnerability and violation
  • Consideration of suicide

The risk of your personal information being compromised has reached an all-time high. Expect that your information will be hacked, and stay vigilant. Look for warning signs and take immediate action if you encounter something suspicious.

No Comments

Leave a comment
Comment Information