5 Ways Identity Theft Can Ruin Your Life
Identity theft doesn’t mean that an evil clone will replace you in your everyday life. That’s a plot for the movies, not the real world. But the actual consequences of identity theft range from annoying to life-shattering. Sure, you might have to replace all the cards in your wallet, but you also might find yourself fighting to prove that you’re not the one who merits jail time. Let’s look at a few of the many ways identity theft can shake up your life.
You can buy just about anything using a credit card these days, but you take a huge risk with every purchase you make. You have no way of knowing if the restaurant server who took your card copied down the number or made an online purchase while running your check. When you buy online, a shady merchant could take your card number and the little code from the back and sell it on the black market for a quick $10 profit. Yes, that miscreant merchant or wily waiter will probably get caught, but that fact doesn’t diminish the risk.
Simple card fraud would be a much bigger problem, except that banks don’t hold you responsible for false charges. A certain percentage of bank fees simply pay for those losses—in return, the bank gets your loyalty and confidence. It’s still incredibly annoying when you’re forced to replace a compromised card, especially if it’s one you use to pay for online subscriptions or bills automatically.
Remember, too, that those protections apply only to individual cards. Corporate and small business accounts don't necessarily enjoy this same safety net. If a thief gets your business credit card number, you or your business could be responsible for the fraudulent charges.
If your email account password is weak or easily guessed, or if someone gets hold of
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