The mightiest business tycoon down to the lowest ranking employee in a corporation, company, or any enterprise owns a kind of identity number attached to his being member to any social security group, or kind of financial management for use in billings, daily expenditures, and savings. It maybe, identification number on social security, insurance, banks, or anything that could be a means to access individual cash settings, or safekeeping. It is becoming more of a problem that requires immediate solutions that can really put a stop to it. In order to be able to do something about it and protect ourselves against it, we must first be able to understand what it is. Identity theft happens when someone you do not know begins using your personal information for fraud and other crimes without your knowledge. Who will not avail convenience of online services if you have the facilities for it? Being online has made two dimensions of physical and virtual lives, working to meet and accomplish business negotiations. Online transactions saved amount of time and effort like no other methods can. It has a complex yet very lucrative system all business people will avail for better services. It's easy enough if the criminals who commit identity theft will make purchases on your existing credit cards and such. You can easily check your existing credit cards and see fraudulent purchases. What about checking the accounts that you don't know about? Identity thefts may open new accounts for mobile phones, credit cards and even make larger purchases like buying an apartment and you won't know it unless the credit collectors finally trace the bills back to you after the perpetrators run off with the bills. However, there may be some retail outlets, like video stores and the like that will ask for your social security number. Think twice before giving it away. Yes they may deny you their services if you don't comply but there's no reason for you to choose establishments that force you to compromise your security and cause you to be vulnerable to identity theft. Identity theft insurance provides reimbursement for expenses such as phone bills, lost wages, notary and certified mailing costs and sometimes attorney fees with the prior consent of the insurer. Complaints about identity theft have surged from about 40,000 in 1992 to 750,000 in 1998, according to regulators.