Identity theft has become the fastest growing crime in the world. It tops the list as the number one consumer complaint in the United States, with 19 people becoming victims of identity theft every minute. Unfortunately, with the increased use of the Internet, the problem is expected to grow.

So what is identity theft and how could it affect you? Identity theft is a form of fraud that occurs when an individual or group of people steals your personal information for financial or social gain. It happens in various ways. Thieves steal credit card payments and other outgoing mail from private curbside mailboxes. They file a change of address form in the victim’s name to redirect mail and collect personal and financial data. They search through trash cans or dumpsters for canceled checks, credit card and bank statements, and pre-approved credit card offers. They use malicious software to steal your information over the Internet. They also use email phishing to get you to provide them with your personal information. Of course, these are just some of the common ways this crime occurs. There are new tactics being introduced all the time.

While most of these crimes involve theft for financial gain, there are many different types of identity theft, ranging from driver’s license identity theft to social security number theft. Statistics tell us that 19% of identity theft involves credit cards or bank accounts. Here are the four most common types of identity theft complaints as reported to the Federal Trade Commission:

1. Government document and benefits fraud: This represents 46%*. This crime includes things like stealing your social security number or driver’s license, your Veterans Administration benefits, or your tax refund check. Complaints in this category are up 27 percentage points from 2010. The FTC said tax or wage fraud accounted for the growth in this area. Tax returns, especially those where a refund is expected, are new targets for criminals. Another scheme uses your social security number so illegal immigrants can get jobs.

A June 2006 CBS News report indicated that 81 people were using a woman’s social security number. The woman, who lived in San Francisco, California, only found out about this when she received a tax return from the IRS stating that she owed $15,813 in back taxes, even though she hadn’t worked in years. Ironically, the taxes were for work done in Texas.

2. Credit card fraud: accounts for 13% of identity theft*. It can happen in several ways. Every time you give your card to a waiter, or swipe it at a gas station, or use it online to buy something, you expose yourself to this type of fraud.

A reported problem occurs at service stations. Thieves install a type of skimmer at the pump that reads your credit or debit card information when you swipe your card for gas. They then sell this information.

In January 2014, ABC News reported that two Mexicans were arrested at the Texas border after using information stolen from a Target credit and debit card security breach to purchase several thousand dollars. The Target security breach is believed to have involved 40 million credit and debit card accounts and the personal information of 70 million customers.

3. Telephone and utility fraud: This represents 10%*. Someone steals your personal information to use your name and credit to set up an account with your water, phone, electric, or gas company. These people will steal your good name and credit for profit, even selling your information to a third party, where it could be used by hundreds of people.

This crime also occurs with cell phones – wireless phone accounts – and is expected to become the number one complaint in this category.

4. Bank account fraud: this represents 6%*. This ranges from forgery to bad check writing to the electronic transfer of large sums of money.

An LA Times article from January 2014 shared a story about a woman who had five compromised accounts, at three different banks.

A January 2014 report from the Wet Paint website claims that an ex-convict was charged with bank fraud after he opened a company account and funneled bad checks, stolen airline retirement checks and auto loan proceeds to the bill. It was reported that he used his new company to gain access to certain people’s information to commit this fraud.

5. Others – this represents 25%*. Includes all other categories, including Medical Fraud and Attempted Fraud.

A news article published in 2008 reported that a young Marine had lost his wallet while at boot camp in South Carolina. After training camp, he was stationed in California. It was almost a year later, when his mother called him and informed him that he was wanted for carjacking. He also owed more than $20,000 in medical bills. It turned out that a man in South Carolina had used his driver’s license to test drive and steal new cars. This same man also received medical treatment for kidney stones and an injured hand. Before the Marine could clear up the whole mess, his state tax return check was garnished and his credit was ruined. He also faced possible problems with his medical records. If he were visiting his family in South Carolina and needed medical attention, his current medical records could influence the type of medical treatment he could receive.

According to the Bureau of Justice Statistics, identity theft cost Americans $24.7 billion in 2012. For many victims, the financial and psychological effects can be damaging and can last a long time. So what can you do to help protect yourself against identity theft? Here are some tips to help reduce the chance of you becoming a victim:

– To protect yourself against identity theft, never provide your Social Security number, credit or debit card numbers, unless you know the organization or person requesting this information. Treat it as confidential information.

– Avoid carrying your Social Security card and passport unless they are necessary.

– Keep these and all important government and insurance documents in a safe place

– Never print your Social Security number on your checks.

– Carry as few debit and credit cards as possible and check regularly to make sure you still have them.

– Confirm all passwords in memory. Never write them down or carry them with you.

– Make your PIN and passwords difficult for someone else to guess. Don’t use your date of birth, phone number, or the last four digits of your Social Security number.

– When using an ATM, make sure no one is hanging over you and can see you enter your password.

– Keep a list of your credit card and financial account numbers with phone numbers in a safe place. Do not provide financial information (account numbers, credit card numbers) unless you know the organization or person requesting this information. Notify your bank or credit card company of any suspicious phone inquiries, such as those asking for account information.

– Always review your monthly financial and credit card statements. If you see unknown transactions, notify your bank or credit card company immediately.

– Report lost credit and debit cards and lost checks immediately. Your bank can immediately block the funds in the account.

– Instead of signing the back of your credit card, write “See Photo ID” so if a thief takes your car, they won’t be able to use it to make a large purchase in person without your ID.

– Shred bank statements and financial applications before disposing of them. To avoid waste of paper statements, sign up to receive statements and bill payments through Online Banking.

– Place outgoing mail in a secure, official Postal Service collection box.

– Install anti-virus and anti-spam software on your computer. Don’t open email attachments from people you don’t know. Beware of pop-up windows on your computer. Sometimes you think you’re clicking your way out of them, when you’re passively accepting a form of malware.

– Periodically review your credit file and make sure the information is correct. You are entitled to one free credit report per year from each of the three major credit reporting agencies (Equifax, Experian and TransUnion). All three national consumer reporting companies have established a central website, toll-free phone number, and mailing address through which you can request your free annual report. To get a free report, visit http://www.annualcreditreport.com or call 877-322-8228.

When used, these tips provide proactive measures that can help avoid the financial and time hardships that accompany an identity theft incident. However, there is no complete proof system that guarantees that you will never be a victim. And that’s why the best advice one could offer is to suggest that you purchase an identity theft protection plan. There are many companies that offer these plans, so it would be wise to make a comparison before signing a contract. Most plans include credit monitoring, public records monitoring, and incident alerts that help with preventative measures. Where most plans differ is when your identity is compromised. Some companies send you a DIY kit, while others will provide some type of phone consultation. However, the best plans provide a comprehensive identity restoration package that includes licensed investigators or stepping-in agents to assist you and do the heavy lifting for you. In a time of crisis, it would be a great benefit to have a professional to jumpstart your identity restoration efforts.

Unfortunately, identity theft will be with us for the unforeseeable future. While the fear factor is high, the good part of all of this is that there are steps we can take to provide protection for ourselves and our families.

*United States Federal Trade Commission, 2013