Identity theft is the least understood of all problems, though this assumption of our identities for fraudulent purposes is the most alarming of all problems. It is the most rapidly growing crime in the United States. It is quite complex, and this is how fraudsters work. A fraudster gets hold of your personal information, including your social security number and the numbers of your credit cards, among others. It is not so difficult if you are not careful. He/she assumes your identity, runs up astronomical bills, and leaves you holding the bag. This leaves you with a credit record that is totally ruined, and creditors at your door screaming for their money. You may not realize it but your wallet, normally, is full of so much information about …show more content…
Never give out your personal information to anonymous persons on the phone. Also never give out your personal information to those not required to know. Fraudsters are known to call, purporting to be from your bank, to find out your personal details, or asking information to update your personal details. That person should not need it, as your bank already has your personal information on its files. Fraudsters resort to this very old scam of asking you to update your old credit card information - on phone. Never, ever, do give out any such information to people you not personally know. You may also receive calls from fraudsters offering you a prize, or some expensive item, and ask you for your personal information, including your Social Security number, the numbers of your credit cards, their dates of expiry, or even the maiden name of your mother! Beware, and never entertain such phone calls. People also have this habit of printing their Social Security and their personal phone numbers on their bank checks. Why? Why pass out information, unnecessarily, to people who have no need to know. Your employer, your landlord, or similar people may have a legitimate reason to ask you for your personal data, but always find out why they need to have that particular
There are as many as eight or more different types of identity thefts, but these three are the more common types: Financial Identity Theft, Driver’s License Identity Theft, Social Security Identity Theft. Consumers need to know what to do if they are a victim of identity theft starting by knowing the type of identity theft they are dealing with. (Stroup, 2016) Most people recognize and associate financial theft with this type of crime. It involves the use of personal information to create or take over someone’s financial accounts such as (checking accounts, credit cards, etc). Thieves then can acquire the information needed to hack into your accounts or steal your information through computer viruses, data hacking or any other cyber- attacks. It can be frustrating, stressful and time consuming trying to get
Throughout unit eight of the Financial Literacy lesson, Consumer Fraud, I learned multiple things. To begin, I learned about identity theft, the illegal use of somebody else’s personal information for your own financial gain. Identity theft can cause you many financial issues, which is why it's important to avoid it. You can do this by keeping your personal documents like, passports, Social Security Cards, and extra credit cards in a safe place at your home unless they’re essential. In addition, you should shred old, useless documents instead of throwing them away, and you should be careful when giving out personal information to people over the phone. You should consider checking your credit report monthly, because it can help you maintain
If a random person with an official-looking business card approached you and asked for your Social Security card, driver's license and other sensitive information, you probably wouldn't give it to them. For one reason or another, however, people are more easily duped when it comes to online interactions. It's far easier to pull the wool over people's eyes, which is why phishing attacks are so rampant. Phishing refers to the act of obtaining victims' sensitive information by posing as trusted companies and organizations. It is usually carried out through spoofed emails and spoofed websites that urgently ask for various types of information. There are many potential consequences, and identity theft is among the very worst of them.
Identity theft is a growing problem in our society and knowing how to combat identity theft is essential to your financial well-being.
There are several easy methods thieves can use to steal your identity. One common way thieves can steal your identity is by stealing credit card offers out of your mail box. Credit card companies send heaps of pre approved credit offers. Thieves can simply steal the letter from your mailbox, go back to their own home and provide the information on the letter to the credit card company. The address given for statements will be the address of the burglar. Therefore, most people do not realize a credit card has been opened in their name until the delinquent balance reaches their credit report. Additionally, identity thieves have also been known to rummage through garbage to find credit card offers or other personal documents with identifying information.
Have you ever received an e-mail seeking money or personal information? How about a phone call saying you’ve won a trip to the Bahamas and all you need to do is answer a few questions? Chances are you have but you’re not the only one. These are all attempts of fraud. Fraud is a very frequently committed crime in America, yet many are unaware when it is being committed. Fraud is a type of criminal activity, defined as an act of deception intended for personal gain and the loss of another party. There are numerous types of fraud but one commonly committed form is identity theft. As the name suggest this is when a thief steals your identity. These larcenist use a persons confidential information to impersonate and commit financial frauds. This
There has been an increase in identity theft and fraud over the past 2 years. The TAMUCT has exceptional computer software to fight identity theft and fraud on campus computers. We are encouraging students to take additional measures to protect their electronic information when using electronic devices off-campus.
Unlike SPAM where the Federal Trade Commission proved completely incompetent and consumers experienced a nearly 3000% increase in SPAM since the FTC put out their press releases that they were going to take a bite out of SPAM; it appears that the justice department is indeed making some headway on Identity Theft.
2. Never provide your credit credit cards number over the phone unless you make the contact.
Finally, Identity theft is the most common problem in Australia .When someone who access your bank and credit, debit cards without your permission then it should be identity theft. In this theft the hacker will hack your identity based on your daily using of data and they hack user’s passwords. They collect the information from your daily shopping and using of cads. In this attack Australian banks are robbed by this and they lose lots of amount by this attack. In this attack lots of people lost their personal information. According to the Bradford W. Reyns (2011)” identity theft occurs when, knowingly and without legal authority, an individual’s identity is appropriated with the intent to aid or engage in unlawful activity”. This is the main
Identity theft, the fraudulent acquisition and use of a person’s private identifying information, commonly seen in a financial gain or in a way to get money. An identity thief usually will find various ways to take the identity of a random person and say that they are that certain person. Ways that thieves steal other people’s identities is by hacking into personal computers where there people have their personal information stored in files. Also, thieves trick people into getting a job or an apartment and they get fooled by giving their personal information for example giving away their social security number or even giving them their debit card number. Some people even take away wallets or purses where there are some sort of personal information
Identity theft is a common crime in the United States today. It happens when people are not careful of their personal information. Millions of people are victims if Identity theft. According to consumer.gov Identity theft happens when someone uses information about you without your permission. Identity thieves could use a wide variety of information such as your name and address, credit card or bank account numbers, Social Security number and medical insurance account number. It is such as serious crime because you will be responsible for what the thief does while using your personal information. They can obtain a new credit card under your name and buy things with your credit card. It is important to know how to keep your sensitive information safe and know how Identity theft works in today’s society to prevent yourself from
I will accomplish this using minute electronic devices termed as skimmers or wedges. As the victim swipes their card over the skimmer, I would easily copy vital information and then create duplicate cards. By successfully doing this, as an identity thief, I would easily commit credit card frauds that allow me to buy several products or even withdraw money on the victim’s behalf. To get such information, I would proceed to steal a physical credit card or get it electronically hack attack. It is the most conduced identity theft and although the most guarded against, it’s practically
According to the United States Department of Justice, identity fraud is “used to refer to all types of crime in which a person wrongfully uses and obtains another person’s personal information in a way that involves fraud or deception, usually for economic gain” (National Criminal Justice Reference Service). This can often happen in public and private places. For example, in public places, some criminals may engage in what is known as “shoulder surfing” this occurs either by watching you put in your credit card number or telephone calling card number from a close location or possibly even listening in on your conversation as you are giving your credit card number over the
Identity theft refers to a crime in which someone wrongfully obtains and uses another person’s personal data in a way that involves deception or fraud for economic gain. The information utilized could be your name and address, credit card or bank account number, social security number or medical account numbers. With this information a thief could obtain a credit card in your name, make purchases with your credit cards, open utility accounts, steal your tax refund or get medical care under your name. An estimated 15.4 million consumers were victims to identity theft in 2016 which was up from 13.1 million the year before.