Beware of These Types of Identity Theft
Since increasing digitalization, the number of identity thefts on the Internet has also risen steadily. Affected people usually see themselves helplessly at the mercy of the perpetrators and sometimes find themselves in the crosshairs of criminal prosecution authorities.
Identity theft refers to the scamming and misuse of someone else's data in order to gain an advantage for yourself or simply to harm the other person.
Passwords, names, dates of birth or credit card numbers are usually stolen in order to either enrich oneself or to disguise one's own identity with a new identity.
Forms Of Identity Theft
Identity theft can occur in many different ways. The most common are:
Financial identity theft
Here, the perpetrators steal the victim's personal information in order to gain access to their financial accounts.
Abuse of the name on social media platforms, so-called "fake profiles"
The perpetrator uses another person's name (on Facebook, Twitter or Instagram) so that they are discredited by questionable statements and content.
Pretending false facts
The perpetrator feigns false facts, for example by filing a criminal complaint on behalf of the victim, making a criminally relevant statement or falsifying a website.
False suspicion and insinuation of criminal offenses
Through identity theft, the perpetrator can commit criminal offenses on behalf of the victim on the Internet, such as insulting third parties. But even more extreme cases keep popping up. For example, when threatening calls are made to the police and a telephone connection has previously been made for this purpose under a different identity.
How Does Identity Theft Work?
Just as there are a variety of forms of identity theft, there are at least as many ways to steal your information. The most common are among others:
Spoofing
Spoofing is the sending of false messages that look deceptively real due to their form. For example, logos, names or company colors are imitated, giving the impression of a reputable and usually “known” sender. This is intended to persuade the recipient to respond to these messages and reveal personal information.
Phishing
Similarly, phishing encourages the installation of malware by attaching links or attachments to messages that also look trustworthy. Often, an excuse is used as to why one should answer. For example, it is communicated that a competition has been won or that there is an important invoice that needs to be downloaded.
Pharming
Recipients are redirected to fake websites, which usually imitate a platform on which you are actually registered or that might be of interest to you. By entering personal data or, for example, your own passwords, these can later be used by cybercriminals to hack the profiles on real websites or platforms, carry out transactions, submit posts or carry out what is known as profile hijacking. With profile-hijacking, your profile is taken as a virtual hostage and a ransom is extorted from you so that your profile can be made available to you again.
Hacking
Here's another word for identity theft: you've been scammed! Receiving emails that lead to your account being hacked, or answering phone calls and giving out sensitive information only to find your credit card was used by an unknown user are examples of real life identity theft scenarios.
Simply put, identity theft is the use of an individual's personal information to commit fraud and gain financial gain. Identity theft is a crime involving the illegal obtaining and use of another person 's personal or financial information for unauthorized transactions or purchases.
Personal information that can be EASILY stolen includes the following:
Your social security number
Your bank account number
Your credit card information
E-Mail-Address
Medical records
Think of it this way: an identity thief STEALS information with the intent to fraud. Prepare to have your credit report full of suspicious activity. Crime is common enough as it is committed in many unique different ways, especially now with the advent of technology.
Your Existing Accounts
If you have an existing social security number, credit card number, driver's license, or other information that could be of interest to identity thieves, you are vulnerable to identity theft and fraud. This type of account takeover scam usually happens where the criminal steals your credit card information. They then collect small credit or direct debits so their fraudulent activity goes unnoticed. This goes on until they take over your account. A huge charge suddenly shows up in your records. However, there is an upside when you are covered by identity theft measures. You can detect it.
As long as you have identity theft protection systems in place, you can protect and regularly review your consumer and credit reports.
Identity Theft on New Accounts
Criminals are also looking for ways to open new accounts under your name. Compared to the earlier ones , we are at a loss for words.These kinds of fraudulent activities are hard to detect.
Thieves can search your public records and you use it to open new bank accounts and secure new credit card numbers under your name. This will also lower your credit score and leave you in debt. Protecting against identity theft is particularly difficult to secure because:
You probably won't get a bill.
You will only find out about your credit report if you regularly check and request it.
New accounts are ONLY allowed to use your credit details and fake personal information like name and address for a bigger scam.
Social Security Identity Theft
In Social Security identity theft, the perpetrator accesses the victim's Social Security to claim a tax break for themselves for themselves through the Social Security number. Social security numbers are among the most commonly used identification channels for official purposes. If you are a citizen earning an income, then it is imperative that you have one. As such, this is one of the most common types of identity theft.
All who earn an income must have a social security number. A person with access to a social security number can reap its benefits. What can identity thieves do with your social security number? You can be more careful with this type of identity fraud... these thieves can:
Apply for credit cards and loans
Pay unpaid amounts
Receive medical and disability benefits, among other benefits
Find a job under your name
Tax more than you should pay
Lower your credit score
The Immediate Solutions
Sign up for a credit monitoring service to get regular credit reports from the major credit bureaus. It is best to do this as soon as possible. It cannot be said enough and we will say it again.
You should change the passwords on all websites, platforms, accounts, etc. as soon as possible.
Then, under certain circumstances, contact with the bank or similar may have to be made in order to have the bank account etc. blocked. It is then advisable to file a criminal complaint with the police immediately. Legal assistance should be sought urgently, as the criminal prosecution of the perpetrators is usually very difficult.
In addition, there is the option of contacting the support of the online platform on reputable platforms to inform them about identity theft.
Not only criminal aspects have to be considered here, but also civil law claims such as claims for damages and injunctive relief must be enforced in court in the worst case.
Conclusion
If you want to know more about identity theft and what you should do to avoid it so you can keep your financial information secure, head over to the Goalry website and visit our various financial education stores.