Who is targeted for identity theft

Identity theft is a growing threat throughout the world. Thieves continue to create more advanced, sophisticated and unpredictable methods to steal valuable personal information. In alone, The risk is real, and everyone is a target. Identity theft occurs when a thief gains unauthorized access to important personal documents and information, such as your Social Security or credit card numbers, and illegally uses these numbers to make purchases, obtain credit or loans, or benefit in other ways.

And if you don't have the best identity theft protection services to help, you could be a victim. But certain groups are targeted more often than others. If you fall into one of the following four groups, take precautions to protect your identity.

Young adults ages 18 to 24 are one of the groups most susceptible to identity theft. In fact, in , 29 percent of identity thefts reports came from young adults. Young people who use credit cards for the first time are at increased risk because they may not understand how to protect their information adequately. Many people in this group swipe debit and credit cards at a higher rate than older people and tend to post lots of personal information on social media, giving thieves another access point.

Young people also use their smartphones to shop online, deposit checks and complete other financial transactions. Using a smartphone in public Wi-Fi hotspots can increase your vulnerability to hacking attacks. Fraudsters target people with high income levels. Moreover, deployed military personnel who do not place an active duty alert on their credit files are easy targets for friends or family members.

Much of the issue is likely due to awareness of behaviors that may put them at risk, as well as limited understanding of the costs and challenges of identity theft. For example, students are often very aware of computer security, but they share personal information widely and may not understand the importance of locking away or shredding important documents and IDs, and regularly checking their credit reports.

Policyholders who suspect they are victims of fraud should contact Farmers Alliance at to find out how they can work with a fraud specialist to help manage and protect their identity. Why Farmers Alliance? It provides directions on how to help you recover your identity and repair any damage you have experienced. There are several identify theft protection services that help people avoid and mitigate the effects of identity theft.

Typically, such services provide information helping people to safeguard their personal information; monitor public records and private records, such as credit reports , to alert their clients of certain transactions and status changes; and provide assistance to victims to help them resolve problems associated with identity theft.

In addition, some government agencies and nonprofit organizations provide similar assistance, typically with websites that have information and tools to help people avoid, remedy, and report incidents of identity theft. Social Security. Financial Fraud. Income Tax. Identity Theft. Your Privacy Rights. To change or withdraw your consent choices for Investopedia. At any time, you can update your settings through the "EU Privacy" link at the bottom of any page. These choices will be signaled globally to our partners and will not affect browsing data.

We and our partners process data to: Actively scan device characteristics for identification. I Accept Show Purposes. Your Money. Personal Finance. Your Practice. Popular Courses. Financial Fraud Identity Theft. What Is Identity Theft? Key Takeaways Identity theft occurs when someone steals your personal information and credentials to commit fraud.

There are various forms of identity theft, but the most common is financial. Identity theft protection is a growing industry that keeps track of people's credit reports, financial activity, and Social Security number use. Article Sources. Investopedia requires writers to use primary sources to support their work.

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