What is Identity Theft?

Identity Theft

What Identity Theft Is All About?

Identity theft is the use of your personal information such as your name, your mother’s maiden name, your PINs, your passwords, your telephone number, and more by strangers. Another name of identity theft is identity fraud. In other words, identity theft is any illicit use of your personal data to do any illicit acts.

Frequently such crime is committed to deceive or to fraud. Identity thieves may use your credit accounts or other security accounts to purchase something under your name. By using your identity, the thieves can obtain a good product or service and will leave you huge debts that you have to pay. Those who do not have a lot of account usually target the well-established citizens as their victims. Those identity thefts can also take illegally the data and information of students since it is much easier and better to get. The students’ name can be used to apply credit card and use the card illegally.

Even though most students probably have no concerns in making financial accounts that therefore they do not want to apply such credit cards they may end up receiving the application of the credit card on their mail box. Other main targets of those identity thefts are those large business groups. The groups may find that they possess non-payment of bills in their history before they apply credit and that is made by those identity thefts. Small businesses are not in privilege. They may get shocked finding the pending loans to be paid that causes their loan application is denied or even refused. They may also have to pay the purchases that they did not do.

Every of us have possibility to become the victim of those identity thefts. That is the bad side of modern technology. Since the transactions can be made with no contact face to face while those transactions only need address, name, as well as security information such as PINs and passwords. Downloading malicious software from websites enables identity thieves to obtain such kinds of information. This is to explain how easy the identity thefts to obtain such information. If personal information can be obtained, then the possibility of financial related crimes to be committed is high. Strangers can pose as other people to buy something, to get various services, to get loans, to obtain bank account, to apply for a credit card, to get money and benefits. The harder it is to repair the damage the longer those thieves get involved in identity and financial crime.

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