What is Identity Theft?
Identity theft is a crime whereby criminals impersonate individuals, typically for financial gain. In today’s society, we are often required to reveal personal bits of information about ourselces, such as social security numbers, a signature, name, address, phone numbers, and even banking and credit card information. If a thief is able to access this personal information, he/she can use it to commit fraud in your name.
With this information the thief could do things such as apply for loans or new credit card accounts. They can then request a billing address change and run up your existing credit cards without your knowledge. Thieves can also use counterfeit checks and debit cards, or authorize electronic transfers in your name, to wipe out your bank accounts.
Identity theft can also go beyond this type of a monetary impact. Thieves can use your information to obtain a driver’s license or other documentation that would display their photo but your name and information. With these documents thieves can obtain a job and file fraudulent income tax returns, apply for travel documents, file insurance claims, or even provide your name and mailing address to police and other authorities if involved in other criminal activities.
Read our next article “Using Information from your Internet Activities for Identity Theft” .
Filed under: Define Identity Theft
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