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Are you concerned about identity theft? Whether you use the internet to complete financial transactions or you give your credit/bank information to a clerk at the store, you should be concerned because you are at risk for identity theft anywhere you go. Anyone that has the ability to hack into computer systems or those at a business could have access to your very personal information in a matter of minutes. Now you might wonder what identity thieves do with your information, if they are not using it to hack into your accounts. The latest tactic that criminals use is selling your information on the black market! What is my Information Worth? Now that you know that hackers sell the information that they obtain online, you are probably wondering what the information is worth. Most people think that the payoff would be very high for hackers, but in general, it is not. The average piece of information that hackers sell only goes for $5 on the black market. It doesn’t stop there, though. Your information could be hacked, sold, used and re-sold, leaving you at risk for serious financial issues as more people get a hold of your private information including your social security number, bank account numbers, mother’s maiden name and credit card numbers. The cycle could continue until your information is uncovered and the criminals caught. How is my Information Used? In most cases, the identities that are stolen are used to withdraw money from bank accounts, use credit cards or even open new credit cards or accounts in your name. Most often, victims are not even aware that their accounts are being hacked until the entire process is complete and the financial damage is done. In some cases, the hackers steal credit card or debit card numbers in combination with pin numbers. For those victims that only check their accounts every so often or wait for their statements to arrive, they could be in for quite a shock when they see their statement. Protect your Data It is important to understand how to avoid identity theft, no matter how large your bank account. Even if you are a starving artist, identity thieves could be after your information as they make their money by stealing thousands or millions of identities and selling them on the black market. Because they sell the information for very low dollar amounts, they need to sell as many as possible in order to make enough money to make it worthwhile. In order to protect your data, you need to ensure that your computer’s security is up-to-date and that you use a firewall. Don’t let that let you get comfortable, however. You should always act “paranoid” and be overly cautious when you use your credit card online, in a store or when sharing any other private information including your name, address, mother’s maiden name and social security number. A few other ways to prevent identity theft include ensuring that any websites that you use are secure and that they encrypt their information, only give your card to clerks that you can see as they use your card, hide your credit card or bank account numbers for people peering over your shoulder and always shred any financial information that you no longer need. When you practice all of these tactics, you will be able to keep your secured credit cards, regular credit cards and bank accounts safe from hackers. You can never be too careful when it comes to protecting your identity. It is important for you to be vigilant about the ways to prevent identity theft. When you become comfortable with your practices is the time that you are most likely to become a victim of identity theft. Always be on the watch for others trying to obtain your information and use the highest level of security when providing financial information on the computer. You never know when or where someone might be that is trying to grab your information to sell it on the black market to serious criminals. Jana Lynn is an active blogger who is fond of writing articles on Credit Protection and educating people to take immediate measure if your card is lost or stolen before someone take advantage of it. Follow her on Twitter to know more on identity theft and the black market.
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