At one point or another, victims of identity theft may feel overwhelmed by the psychological pain of loss, helplessness, anger, isolation, betrayal, rage and even embarrassment. This crime triggers deep fears regarding financial security, the safety of family members, and the ability to ever trust again.
You could spend large amounts of time and money recovering your identity. You could experience psychological harm and emotional distress. You could become a victim of repeat identity theft and fraud. Scammers can commit crimes in your name.
"It can take days, months, or even years to untangle identity theft," says Tolmachoff. This is because each case of identity theft is unique, and the recovery timeline can depend on many factors, including the type of identity theft that took place.
They may face denials of loans and mortgages, and be refused employment. They may also be unable to open a bank account, and may need to spend months or years attempting to resolve economic mistakes and issues. Identity theft can also have potentially life-threatening consequences.
The average age of an identity fraud victim is 30-39 years old (FTC) In the US, the most common victims of identity theft are aged 30-39 years old. This is closely followed by those aged 40-49 years old. The least likely age group to fall victim to identity theft by raw numbers are 80+.
Some feel like they are experiencing a form of "post-traumatic stress disorder" for a short time. At one point or another, victims of identity theft may feel overwhelmed by the psychological pain of loss, helplessness, anger, isolation, betrayal, rage and even embarrassment.
It's commonly believed that credulous senior citizens who lack technological sophistication are the primary targets of identity theft. Although it's undoubtedly true that seniors are vulnerable, identity theft is purely opportunistic, and youth offers no protection.
You could lose your life savings
The account has been drained to zero. If an identity thief gains access to your financial information — such as your account numbers or login information — they can empty your life savings and rack up debt in your name.
Contact your police department, report the crime and obtain a police report. Decide whether you want to place a security freeze on your credit report.
Identity theft is a serious crime. It occurs when your personal information is stolen and used without your knowledge to commit fraud or other crimes. Identity theft can cost you time and money. It can destroy your credit and ruin your good name.
What is the Average Cost of Identity Theft? Most victims, according to the ITRC, lose less than $500. The FTC reports that the median amount of money lost to identity theft is $800.
Identity theft generally involves three stages: acquisition, use, and discovery. Evidence suggests that the longer it takes to discover the theft, the greater the loss incurred and the smaller the likelihood of successful prosecution.
Identity theft occurs when someone obtains your personal information and uses it without your consent or knowledge. They might then use your personal information to apply for a loan, make purchases using your credit card, or apply for government support money or medical services, to name a few examples.
Financial identity theft.
This is the most common form of identity theft — when someone uses another person's information for financial gain.
Financial identity theft
This is the most common form of identity theft (including the credit card example described above). Financial identity theft can take multiple forms, including: Fraudsters may use your credit card information to buy things. We all love to shop online — even criminals.
The answer may surprise you – while everyone should be aware of identity theft, children and the elderly are at an especially high risk of becoming victims.
Identity theft may be used to facilitate or fund other crimes including Illegal immigration, terrorism, phishing and espionage. There are cases of identity cloning to attack payment systems, including online credit card processing and medical insurance.
An identity thief can use your name and information to: buy things with your credit cards. get new credit cards. open a phone, electricity, or gas account.
Close neighboring homes make it easier for a neighbor to spot an unwelcome guest. Parked cars or running sprinklers, which might tell a thief that someone is home. Leaving a TV or radio on also signals that the property is occupied. Outdoor lights, especially lights with a motion sensor.
There are a number of ways identity thieves may obtain your personal information. Fraudsters may dig through mail or trash in search of credit card or bank statements. Unsecured web sites or public Wi-Fi may allow identity thieves to access your information electronically.
Data breaches that expose your passwords and sensitive data. Data breaches are the leading causes of identity theft. As of October 2022, there were 1,291 data breaches with over 160 million victims [*]. Data breaches take place when hackers break into services that you use and steal your stored information.
You could replay the robbery in your mind and “see” the suspect in each unfamiliar person you meet. After a traumatic event, it's normal to feel scared, confused or angry for a while. If these feelings don't go away, or if they get worse, you may have Post Traumatic Stress Disorder (PTSD).
Whether it's violence, or rejection from a bonding person at a very early stage of development, we start to give up parts of our identity to endure. That can lead us to a trauma of identity: We start to overidentify with others, and in a way our identity can become enmeshed with the identity of, say, our mother.