Good question Calvin. Identity theft is the act of impersonating someone by getting a hold of their personal information. By personal information I mean Social Security Number (SSN), your name, address, your birth date, your mom's maiden name, and any credit card or bank account numbers you may have. It's a huge problem. In fact it's the fastest growing crime in the world, and it's the number 1 threat to people living in the U.S.

Identity thieves use your information to do different things. They can open up new credit card accounts in the your name, and then go on spending sprees, leaving you to pay the bills for things you didn't buy. They can also change the mailing address on your bank or credit card statement so you don't realize your identity has been stolen. They can take out car and home loans in your name, write counterfeit checks and create fake debit cards, and even file for bankruptcy in your name to avoid paying their own debts!

It can get even worse. Once getting your private information, the identity thieves can get fake ID's and even give your name to police during an arrest. If they get released, and don't show up to court, an arrest warrant could be issued for ... you guessed it ... YOU!

The scary part is that victims usually don't realize their identity has been stolen for 12 months! By that time, their credit record is so poor, that they may lose job opportunities, be denied loans, education, and possibly arrested for crimes they didn't commit.

So how do Identity thieves get someone's information? They can get it from businesses, by tricking employees into giving out information. They also can get it by hacking into computers and good old "dumpster diving"--- going through trash looking for bills and other documents that contain personal information. They can steal your own mail right out of your mailbox, even steal your wallet or purse or outright con you over the phone into giving up your info!

Fact is that there are many ways to get someone's personal information, and no one is really safe from it. However, there are steps you and your family can take to lower the risk of becoming victims of Identity Theft. You should share this advice with your parents!

Don't give your personal information over the phone, internet, or through the mail unless you've started the communication.

If someone asks you for your information, find out why they need it.

Don't carry your Social Security card with you. Leave it at home and keep it in a secure place along with other personal information.

Put your outgoing mail in a public mailbox and quickly remove any mail you receive, or get a locking mailbox.

Shred or tear up bills and other documents that contain information before putting them in the recycle bin.

Opt out of receiving pre-approved credit cards in the mail by calling 1-888-5-OPTOUT.

When you're out in public, look for people who might be trying to listen to your conversations.

Get virus protection software on your computer, and use a firewall. A firewall is a program that helps keep hackers out of your computer.

Pay your bills online. Research has shown that having your bills sent to you over the internet is safer because there is no paper bill for someone to steal. If your bank offers internet banking use it to keep track or your money. This way if someone is spending your money you'll know sooner than if you waited for a paper statement.

Fortunately for you, Calvin, kids are pretty safe from identity theft. But now that you know about it, you can help keep the rest of your family safe!

Did You Know?

It can take over 3 years to clear up your finances after you've been a victim of Identity Theft!