Identity theft has been a hot topic in recent years. We’ve all heard the news stories about large banks, businesses and government agencies that have had thousands – if not millions – of personal identities stolen from their databases. Perhaps you have been the victim of identity theft yourself, or you know someone who has been. You are not just a minor statistic. The Federal Trade Commission (FTC) estimates that more than 9 million Americans each year will have their Identities stolen or compromised in some way.

Personal ID crimes takes on many faces and various forms, and are not always easy to immediately discover. It’s possible you won’t find out about it until you review your credit card or bank statement and notice charges or withdrawals you did not make. You might not even find out about it until you get contacted by a debt collector demanding a payment. Worst case scenario might even include a warrant for your arrest for a crime you didn’t commit (but someone else did commit using your name and personal information). The FTC, in its Consumer Fraud and Identity Theft Complaint Data Executive Summary, breaks down the percentages of identity theft crimes as follows:

25% – Fraudulent credit card activity

16% – telephone and utilities fraud

16% – bank fraud

14% – Child support issues, medical identity fraud, and law enforcement evasion

14% – Employment-related fraud

10% – Fraud related to government documents or benefits

5% – Loan fraud

Source: FTC, Executive Summary: Consumer Fraud and Identity Theft Complaint Data, January – December 2006

As you can see, there are many faces of personal ID fraud that are not easily recognized. It’s prudent to check your credit card and bank statements regularly, as well as checking your credit report for signs of unauthorized activity. You can request a free credit report at AnnualCreditReport (dot) Com, which is maintained by all three national credit reporting companies. Keeping a vigilant eye on your personal information will help you quickly spot any suspicious activity on your accounts and take immediate action to minimize the damage to your credit and your good name.