Identity theft is big business

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The report Monday of an identity theft scheme that has been used to generate $1.1 million in fraudulent federal income tax refunds is a reminder of just how valuable an asset our personal information is and why it is so important to protect it.

According to the U.S. Secret Service, names, dates of birth and Social Security numbers of unsuspecting people in our area were used to file bogus income tax returns, resulting in fraudulent refunds. Far from a victimless crime, each of the people whose identities were stolen and every taxpaying citizen in the United States were victims of this thievery.

How thieves get the information is varied. According to the Federal Trade Commission, your personal information is stolen when criminals go through your garbage looking for bills and other documents; swipe your credit/debit card information with a special device while processing your card at a business; send you bogus emails to get you to send them personal information (Did you really think you won that national lottery overseas that you never entered, or that you’re such a good person that a dying millionaire on another continent wants to leave you his estate?); hacking your computer or online accounts, and plain, old fashioned stealing