What Is Identity Theft

WHAT IS IDENTITY THEFT

Is the fraudulent practice of using another person's name or personal information usually for financial gain.

TYPES OF IDENTITY THEFT

1 New Account Fraud

Using another’s personal identifying information to obtain products and services using that person’s good credit standing. This fraud often requires use of the victim’s Social Security number. Opening new utility, cell phone and/or credit card accounts are the most prevalent forms of new account fraud.

2 Account Takeover Fraud

Using another person’s account numbers, such as a credit card number, to obtain products and services using that person’s existing accounts or extracting funds from a person’s bank account.

3 Criminal Identity Theft

Someone commits a crime under another person’s name. The thief, in the act of the crime or upon arrest, poses as the identity theft victim. Often the perpetrator will have a fake ID with the victim’s information but the impostor's picture.

4 Medical Identity Thefts

The deadliest form of identity theft. Medical identity theft occurs when someone uses a person’s name and/or insurance information—without the person’s knowledge or consent—to obtain medical services or goods, or to make false claims for medical goods or services.

5 Business or Commercial Identity Theft

Using a business’s name to obtain credit or even billing those businesses’ clients for products and services. Perpetrators who commit business identity theft are often insiders — current or ex-employees — with direct access to operational documentation, who pad the books in favor of their scheming.

6 Identity Cloning

Encompasses all forms of identity theft. The thief is actually living and functioning as the victim on purpose. They may be hiding in plain sight due to the fact they are running from the law, evading child support or they could be mentally ill.

HOW IDENTITY THEFT ARE COMMITED

Computer hacking

Insider crimes

Dumpster diving

Check theft

Burglary...