By Ellen Grace

Although identity theft has been around for quite a long time, the Internet has caused a whole new problem. It seems that everywhere you turn you hear a story about identity theft ruining someone’s life. There are many steps you can take to give yourself protection from identity theft, and it is important that you take this stuff seriously. Anyone at any time can try to access your financial information, and if they are successful, you are in for a world of misery.

Identity theft is a fast growing crime and generally a low tech crime involving illegal usage of another individual's identity such as misuse of a name, adress, date of birth, health insurance number, social insurance number or credit card and mail fraud, and is one of the fastest growing crimes in the United States, costing victims over $5 billion annually, so it pays to know about identity theft protection. Identity theft victims are becoming more and more common, and with the increasing potential for serious consequences, consumers and business executives need to have this threat on their radar screens. Thieves targeting their victims' social security numbers, bank statements, and credit card details, are a frightening and overwhelming experience if it does happen to you.

Protection from identity theft comes in many different forms. Many of the most important things you have to do to protect yourself from identity theft are things that you can do in your own home. It is important that you buy a paper shredder so that you can shred all of your important financial and personal documents before you put them in the trash. Those who are looking to steal your identity have no issues with pawing through your garbage looking for what they need. If you are receiving credit card or even loan offers in the mail, it is important that these be shredded as well. This type of protection from identity theft is very cheap and inexpensive, but it’s also your first line of defense.

You also want to make sure that your bank and credit cards offer you some sort of protection from identity theft. This means that if you call them and tell them that you think your identity has been stolen, they can immediately freeze all of your assets and bank accounts. This also means that you want to find a company that will notify you if they believe there has been some unusual activity on your accounts. This type of protection from identity theft is very useful. There have been times when my credit card company actually freezes my account until I call them to make sure someone else is not using my credit card. This might also mean that you have to notify your bank if you are going on a vacation or maybe spending more money than usual, but it is well worth the extra phone call to protect yourself. If you don't notify your credit card in advance of say a vacation, you could get somewhere and find out the the credit card has frozen your account because they are unaware of the unusual high amount of money being charged to your credit card. The three major credit reporting agencies (Equifax, Experian and TransUnion) offer a single telephone number through which you can opt out of future "pre-approved credit" offers.

Another form of protection from identity theft is the freezing of your credit report. This is something that I have just learned. If you suspect you are being victimized, and that someone has stolen your identity, you can freeze your credit report by calling your credit card company. This means that if someone were to inquire about new credit they would not gain access to your credit report until you give permission. This stops new cards and accounts from being opened in your name. Then you can then be notified. This type of protection from identity theft, along with the other mentioned above, are great starting points in protecting your credit and your financial security.

Protect yourself from Mail thieves in your neighbourhood and online as well

In the wrong hands, your incoming mail can be a treasure trove of information about you. Here are some important self-defense measures you can take if you suspect someone is trying to steal your mail: Take your outgoing mail either to a local post office or deposit it in one of the postal service boxes in your neighborhood. If you leave outgoing mail in your own mailbox, you give a thief the opportunity to steal account numbers, checks and other valuable information. Pick up your incoming mail as soon as possible after it is delivered. If mailbox security is a concern within your neighborhood, consider asking your local post office about centralized mail delivery into locked boxes. Don't give out personal information in person, over the phone, by mail or on the Internet unless you made the initial contact or you are absolutely certain you know the people to whom you are giving your information. Consumers can protect their financial data by using updated spyware, virus and firewall protection software and not responding to bogus "phishing" emails that request personal data. Mail can be stolen from your home mailbox, from a drop-box, at businesses, online and even directly from postal workers. If you're traveling, have your mail held at your local post office, or ask someone you know well and trust such as another family member, a friend, or a neighbor ­ to collect and hold your mail while you're away.