The Costs Of Identity Theft Essay

820 Words4 Pages
Although the monetary cost of identity theft can be eminent, the psychological and legal effects are quite substantial. Identity theft can cause depression, anger, anxiety, family breakups, and legal problems. One out of every two victims lose trust in others, experience disbelief, denial, and rage, while feeling that the police can’t protect them. According to Equifax , every 79 seconds a thief steals someone’s identity and it will take the victim over six months to two years to recover from identity theft. Also, according to a survey conducted by TransUnion, 75% of identity theft victims will worry more about the psychological effects than the financial effects of identity theft such as the fact the thief may have their address or they will be victimized repeatedly. While a thief using your credit card to run up debt under your name is a disaster, other elements of identity theft can actually be more frightening. For instance, your social security and medical benefits can be used by thieves. Thieves can obtain a drivers license in your name which can cause you legal problems or even jail time. Some victims lose their jobs and are not able to get employment elsewhere because a thief is using their social security number. And, if a criminal uses your personal information to get medical treatment, then you could be turned down for medical insurance. Being a victim of identity theft is painful and damaging in many ways; the stories of many such identity theft victims attest to both the emotional toll and the simple practical damage that the crime did to their lives. An identity theft victim will not only have to repair the financial damage done, but may also have to deal with problems involving mistaken identities all throughout government databases, not to mention having to deal with the emotional stress of such a personal violation. Stories of such

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