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Is it possible that a crime wouldn’t have happened if the victim hadn’t done something to encourage it? Could the victim have contributed anything to make the crime successful? Based on the National White Collar Crime Center, identity theft is “A federal crime when anyone ‘knowingly transfers or uses without lawful authority, a means of identification of another person with the intent to commit, or to aid or abet, any unlawful activity that constitutes a violation of Federal law, or that constitutes a felony under an applicable State or local law.’" Simply put, identity theft is the illegal use of another person’s identifying information, such as a name, birth date, social security and/or credit card number, and it is one of the fastest growing crimes in the United States.” Identity theft is a fast-rising crime, not only in the United States but all over the world. Types of Identity Theft and How They Happen There are four main types of identity theft. They could all be examples of online identity theft. They could even be the result of having an unreported lost card. Here are the four types of identity theft:
- Financial
This type of identity theft is the most common one. Here, the basic information acquired by the thief is utilized for monetary gain. The perpetrator could take over the victim’s account, open a brand new account or even acquire loans. - Criminal
Criminal id theft is when the faker actually surrenders another person’s information when apprehended by the law. The ID theft victim then gets a criminal record that ruins any chance of loan approvals or even employment. - Identity cloning
This is similar to total identity theft wherein the perpetrator assumes everything about the victim’s identity. The faker works and lives under another person’s name without the victim knowing it. Non-registered immigrants often commit this type of identity theft and may get away with it for years. - Commercial or business
Business information is used for financial gain in this type of identity theft.
Aside from acquiring information from the victims online or through stealing a credit card, dumpster diving is another means to get what they need. In this technique, the perpetrators rummage through trash bins or dumpsters to get receipts, credit card applications, bank statements, check copies, and other important documents that have the details they require. They also steal mail.Skimming is another way they get credit card information. In skimming, a special device scans the debit or credit card information straight from the machine. Records from head offices of business establishments could be stolen by insiders, impostors, or hackers. It’s important to detect and defend yourself from identity theft. It’s not helpful to have no credit monitoring for your account just because you have to pay for it. Don't make yourself a target and always be vigilant against identity theft. Amy is an active blogger who is fond of sharing interesting finance related articles to encourage people to manage and protect their finances. She also covers topics on online credit card fraud prevention and credit card fraud detection that can help people prevent credit theft and fraud.
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