What is meant by “identity theft”?
Identity theft is one of the fastest growing problems in the computer industry. Discarded bank receipts and credit card statements can be secretly collected and used to build up a new identity based on yours. There are malicious web sites purporting to be authentic commerce businesses that prompt you for your personal financial information. Once these sites have your bank ID number and password, that information could used or sold off.
Identity Theft, also known as ID Theft and Social Security Number Theft, is the act of someone trying to assume another person’s identity for fraudulent use. Normally Identity Theft is attempted for financial reasons, but it is also undertaken to gain access to information that would otherwise be illegal or inaccessible. With your stolen identity, normally in the form of a social security number, birth certificate information, driver’s license number and the like, anyone can enter a financial institution and open lines of credit using your identity and your good credit rating. With this information the thief can proceed to quickly max out old and new credit cards, new loan’s, and then quickly move on to the next victim, leaving your name and credit rating damaged and in shambles. You may not learn out about the theft for months. Of course thieves are not going to pay your monthly bills, so late fee’s, penalties, and fines are accruing against you and appear on your credit report. It co
