Often, victims first become aware that their identities have been stolen because they receive a statement in the mail from a financial account that they don’t recognize. Open a new bank account which will then be used to commit other forms of fraud.Whether in the physical or digital world, any place or item that contains information about you could be a potential target for identity thieves.įinancial identity theft is any scheme that involves using a fake identity to steal money. But dedicated thieves could also steal your personal information from financial documents in your mailbox or even from a receipt that you tossed in the trash. These are just a few of the ways that identity theft can happen. Once inside, the thief can then install malware or spyware to monitor the victim’s activity and steal sensitive information. Compromised devices: Identity theft can also happen when a criminal gains access to someone’s computer or phone by using unsecured public Wi-Fi networks, viruses, fraudulent websites or other means.Once inside, the criminal may find passwords, credit card details, personal identification numbers (PINs) or more which they can then use to commit identity theft. Hacked accounts: Identity thieves could gain access to a victim’s personal information by hacking into their email, social media, online banking or other accounts.Once the victim provides the information, the criminals can use it for identity theft. These scams usually occur via email, text messages or phone calls. Spoofing and phishing schemes: Spoofing and phishing schemes are attempts to obtain personal information from individuals by pretending to be a reputable entity or organization such as a bank, government agency or service provider. This information is then used to carry out fraudulent activities, such as applying for loans or credit cards in the victim’s name. Data breaches: Data breaches occur when cybercriminals gain access to a company’s database containing personal information such as names, addresses, Social Security numbers and credit card details.Here are some most common causes of identity theft: Identity theft can happen in a variety of ways, but all involve the use of your personal information to commit fraud.
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