Identity theft occurs when someone uses your personal information (your name, Social Security number, credit card numbers or other identifying information) without your permission to establish a new account and commit fraud or other crimes.

A serious offense.

People whose identities have been stolen can spend months, or even years — and their hard-earned money — cleaning up the mess thieves have made of their good name and credit record. Victims may lose job opportunities and be refused loans, education opportunities, housing or cars. They may even be arrested for crimes they didn’t commit.

Can you completely prevent identity theft from occurring? Probably not, especially if someone is determined to commit the crime. But you can minimize your risk by wisely and cautiously managing your personal information.

To protect yourself, make sure you limit the access other people have to your personal financial information, even friends and family. By treating your mail and trash carefully and limiting how much personal information you give out over the phone, you can go a long way in thwarting identity theft. And if you have been a victim, there are steps you can take immediately to begin dealing with the problem. See Preventing Identity Theft for more information.