According to the Privacy Rights Clearinghouse there are over 400,000 thefts of identity each year with that result in more than $2 Billion worth of annual losses for the country. Identity theft is expanding at a rate of 50% per year. Your financial liability is limited to $50. But, your losses will include time and effort to remedy the effects of the theft. With the advent of the computer and the Internet, it has made such a crime more prevalent, making more and more people susceptible. Even the proliferation of credit cards and its growing use in the world today has made it easier for more criminals to commit identity theft. Because of the big market for financial products such as credit cards, credit institutions have made it easier for people to apply for credit cards. If you have several credit cards, do not carry all of them with you. Bring only one or two credit cards when you go out. This would minimize the chance of you credit being stolen and of you becoming a victim of identity number theft. 6. such as social security numbers, credit card numbers, bank account numbers, passwords, etc on your laptops or desktops personal computers. When using these credit cards and foot the bill in your name, such delinquencies will be reported on your credit report. This will make it harder for you to upgrade or make effective use of your own credit account because of your worsening credit record without you even knowing it. It can even go as far as using your name to the police during an arrest. Prompt Actions Against Identity Thieves Identity Theft soars high in crime reports at the U.S. Federal Trade Commission (FTI) and other government bureaucracies; credit report agencies, Forensic Accounting firms, investigators, and other private consortiums to protect victims. Any holder of information identifiers of social security number, credit cards, bank account number, driver s license, health care, and other financial sources is at risk. It only means how menace the crime is killing an economy while creating a long-term struggle of recovery. Identity theft cases happen on several unsolicited events: Losing wallets or belongings containing important identity codes Reputation of being famous financially Having bank and credit card accounts Simply living in the world with records of your identity Actually this crime on identity theft is possible to happen anytime and anywhere to people who are simply living peacefully.