380 - There's More To Identity Theft Than You Realize

Everyone talks about identity theft in regards to their money, which is financial/credit fraud.

People believe they are protected through their credit card company, bank or an insurance policy.

While those services protect your credit cards, bank account and offer some financial reimbursement in the event of financial loss, they do not cover all areas of identity theft.

The reason there is so much buzz about financial fraud is that most so called identity theft protection companies offer monitoring services over anything else.

The credit bureaus even have their own "identity theft" protection which is only credit fraud related.

Other areas that are not monitored include:

- Medical Identity Theft, which is NOT monitored because of HIPAA Laws that ensure privacy. Thieves use your information to have medical procedures performed, file claims, get medical devices and prescriptions filled. You get the bill!

- Criminal, where thieves use your driver's license information when they are caught committing crimes.

You may not realize there are bench warrants out for your arrest. There have been incidences where police caught people with 15 driver's licenses. The licenses had the person's picture but other peoples information.

- Children aren't normally monitored. I once had a woman, in MI, tell me that her 2 year old had bought a BMW in NY.

She found this out when attempting to open a savings account for him. She thought it was ok because the guy was making payments and her son had great credit. What she didn't realize is that her son's Social Security number can be sold over and over, because no one was monitoring it.

- Deceased - A friend of mine lost her husband to cancer. 3 years later she started receiving bills for things he was buying with a credit card. Someone had used her husbands Social Security number too get a credit card.

Deceased people are normally not monitored unless you kept their services going after they passed away.

Everyone wants to believe that they don't fall affected by advertising.

The fact is, everyone falls for it to some degree and the companies that advertise know it.

Advertising draws people in and focuses on what they relate to the most, fear.

That's why IDTheft protection companies are so lucrative. They put most of their money into advertising and people buy.

What they don't do is educate on all areas of identity theft.

Do you understandable all areas of identity theft?

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