Identity Theft and Fraud

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How Thieves Commit Identity Theft and Fraud

This identity theft article discusses how how criminals commit identity theft and fraud. Identity theft fraud occurs when someone steals your personal information and uses that information illegally. The most common ways thieves use that stolen information is by opening new accounts in your name. This would include credit card accounts, which the thief would then charge up, and not pay the bills. Another common method thieves use is to set up new services with the telephone or other utility companies and not pay the bills. Some victims of identity theft have discovered that criminals even applied for an apartment, loans, and even mortgages.

Victims of identity theft have also fallen prey to thieves accessing their personal existing accounts. They will charge up your credit cards, take money out of your bank account, and even use your checks to purchase all sorts of goods and services.

Unfortunately, identity theft and fraud is not always easy to detect right at first. In the first month of being a victim of identity theft only about 50 percent of the crimes get noticed. Thieves often use a stolen identity many times. There have been instances where victims of identity theft have discovered that thieves have opened and accessed numerous accounts over a long period of time. Thieves will even go as far as changing your address on accounts that they have set up and pay the minimum balance so they can avoid attracting attention and having it cut off. One out of ten stays hidden for 2 or more years. Below is a list of common ways identity theft can occur:

Dumpster Diving – thieves go through your trash in search of personal information they can use to steal your identity.

Skimming – thieves steal your credit or debit card information by using a special storage device when processing your card.

Phishing – thieves may pretend to work for a financial institution and send spam or pop-up messages to you in order to try and get you to reveal your personal information to them.

Change of address – thieves may submit a change of address form and divert your billing statements and other mail to another address.

Stealing – thieves will do many things to commit identity theft. They may go through your mail and gather personal information that they may use. They may steal your purse or wallet. People may even steal your personal information from their employers.

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