If you’re new to this site and relatively new to learning about identity theft, it may help you to understand exactly what this crime is and how it happens. To paint identity theft with a broad brush, you can simply say that it is the act of stealing personal information from someone with the goal of pretending to be that person, usually for financial gain.
However, if you look at more specific cases, you’ll find a whole spectrum of crimes, from using someone else’s credit card information to buy a t-shirt to creating a multi-country multimillion dollar scam with several accomplices in order to rip off a large retail chain. Identity theft occurs, of course, within financial institutions. But it can also involve colleges and universities, medical establishments, restaurants, retailers, and of course, individual consumers. There are few main ways that it happens.
Scam Emails
Identity thieves love the online scam, since it is so easy to put into practice. They send emails to people from their “relatives” asking for account numbers or wire transfers. They send phishing emails, pretending to be from companies that the recipients have accounts with. They hack into legitimate email accounts and then target the people in the true owners’ address books with messages of trouble and hardship – and requests for account numbers or money.
Data Breaches
It’s sad to learn that a lot of identity thieves are people who have access to personal information because of their jobs. These people simply steal information from databases they legitimately have access to. Other times, thieves hack into networks or steal computers with account information on them. Sometimes this information makes its way to the Internet, especially black market sites.
Old Fashioned Theft
Thieves can also get information by stealing wallets or postal mail, or by simply copying down a person’s credit card number when said person is using it in public. And they love it when you accidentally leave your card at a merchant or drop your wallet on the street.
Family Theft
Perhaps the most hurtful form of identity theft occurs between family members. It can also happen between friends, coworkers or acquaintances. The person who steals the identity actually knows the person – and that is how he or she gets access to the personal information. This type of theft is especially common in families where one of the members is going through credit or legal trouble.
What can help protect you from the consequences of any of these types of theft? Identity theft protection companies, of course. Also, read through the additional content on this site to learn more tips on how to keep your information safe and how to prevent identity theft. You’ll certainly be glad you did.