by Dr. Paul Craig Roberts
PaulCraigRoberts.org
Your information is everywhere on the internet. It is in your banking, financial, credit card, cell phone, internet, utility, and online purchase accounts and in the accounts of these companies’ service providers. Your information is in more places than you can imagine. The internet system is easy to hack, because it was created as an open system for the military.
Depending on what thieves gain access to, they may make purchases on your current credit cards and/or drain your bank accounts.
Identity thieves can also use all or some of your data to open new credit or loan accounts – and then let the unpaid debts pile up.
By opening a lot of new accounts in a short period of time, thieves can lower your credit score. The repercussions of a low credit score are immense.