Identity theft, also known as identity fraud, is a crime in which an attacker obtains key personally identifiable information (PII) such as social security numbers or driver’s licenses in order to impersonate another person.
The stolen information can be used to obtain a loan to buy goods and services on behalf of the victim or to provide a thief with false credentials.
On rare occasions, an impostor may provide fake data to the police, creating a criminal record or leaving unfulfilled arrest warrants for a person whose identity has been stolen.
Types of Identity Theft !!!
The Two Main Categories Of Identity Theft Are Detailly Mentioned Below.
True Name Identity Theft
here the thief uses PII to open new accounts. A thief can open a new credit card account, establish a cellular connection, or open a new checking account to receive blank checks.
Account Takeover Identity Theft
here the impostor is using PII to gain access to the person’s existing accounts. Typically, the thief changes the mailing address on the account and issues the invoice before the victim realizes that there is a problem.
The Internet has made it easier for identity thieves to use stolen information, as online transactions take place without any personal interaction.