How Do Thieves Steal an Identity?

As consumers increase their use of the Internet for banking, shopping, and other activities which require submitting personal information online, cases of identity theft are also on the rise. There are several ways thieves can steal an identity, and these are not necessarily limited to the digital world. To get hold of your personal and financial information, identity thieves try to steal bank statements, credit card statements, credit reports, social security numbers, address and phone information, as well as other items, through a variety of methods. The most common types of identity theft include the following:

Impersonating you at a financial institution

In these instances, an identity thief will impersonate you at your bank by showing a fake ID card or other form of identification with your personal information on it. If the bank teller accepts the identification as valid, the thief can then open a new account, obtain a loan, or withdraw money in your name.

Stealing information from a company’s database

Most companies take extensive measures to provide data security and many use state-of-the-art encryption technology to ensure that all the personal information they keep on their account holders is stored as safely as possible. Still, no database is completely secure, and many thieves are able to hack into these systems and gain access to sensitive information.

Online impersonation

This is one of the simplest forms of identity theft where a thief “stalks”’ you online to gather as much of your personal information as possible — such as your zip code, mother’s maiden name, telephone number, and other important data. They use this information to open accounts in your name, charging on falsified credit cards or acquiring funds from fraudulent loans. Then, when these accounts begin to show late or missed payments on your credit report, your credit score will be damaged.

Stealing credit cards, debit cards, and bank checks

Some thieves resort to more “traditional” forms of theft — stealing wallets and purses to obtain the information they need. In many cases, the thief is known to the victim and may be a co-worker, family member, or friend who had access to your personal information at one time. Some thieves rummage through outdoor trash containers, especially in densely populated apartment communities, to obtain your information from discarded mail.

If you think you may be a victim of identity theft, contact your bank, credit reporting agency, and the Federal Trade Commission to report this crime.

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• IdentityTruth
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• TrustedID
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