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Identity theft is the act of stealing a victim's Personal Identifying Information (PII), which could include name, address, Social Security number, or other identifying numbers such as medical insurance or credit card accounts.
Besides basic information like name, address and telephone number, identity thieves look for social insurance numbers, driver's license numbers, credit card and/or bank account numbers, as well as bank cards, telephone calling cards, birth certificates or passports.
Identity thieves and cybercriminals do get caught and more of them are being held accountable for their crimes than ever before. But that doesn't mean that cybercrime is decreasing or that it is anywhere remotely near under control.
Highlights: There are a number of ways identity thieves may obtain your personal information. Fraudsters may dig through mail or trash in search of credit card or bank statements. Unsecured web sites or public Wi-Fi may allow identity thieves to access your information electronically.
Identity thieves and fraudsters can use your personal information to take over your accounts, use your accounts, open new accounts, file tax returns or even get medical procedures in your name.
Identity theft begins when someone takes your personally identifiable information such as your name, Social Security Number, date of birth, your mother's maiden name, and your address to use it, without your knowledge or permission, for their personal financial gain.
The Red Flags Rule1 requires many businesses and organizations to implement a written identity theft prevention program designed to detect the ?red flags? of identity theft in their day-to-day operations, take steps to prevent the crime, and mitigate its damage.
To report identity theft, contact: The Federal Trade Commission (FTC) online at IdentityTheft.gov or call 1-877-438-4338. The three major credit reporting agencies. Ask them to place fraud alerts and a credit freeze on your accounts.