In this process the identity that has been stolen is used in different types of frauds such as bank transactions, use money from credit cards etc. Identity theft was being into used since 1964 and nowadays it become a very common source for the thieves to steel every thing of the other person and once they stole the information they can change the whole data and make a new data with their own name and identity information.
Types of Identity Theft
There are several types of identity theft based on the types of fraud used in steeling the identity of other personalities. Some common types of identity theft is given below
- Commercial identity theft, it is a type of identity theft in which someone steel the information and steel all type of credits used in the business and commercialization.
- Financial identity theft, a type of theft that is carried out by using different types of services to steel the money and the credits is called as financial identity theft
- Criminal identity theft, it is a type that is used by the fraudulent to do the different type of crimes to steel the different types of things is called as criminal identity theft.
How Identity Theft Works?
As we know that identity theft is the type of the fraud that is used by different type of thieves to remove or overcome their needs of money and different types of many resources such as money, credit, property etc. Therefore, as fraud works in many ways identity theft also works in the number of ways to steel the identity of different persons without their knowledge. Some important ways that are involved in the working of the identity theft are as follows
Common Identity Theft
Identity theft works in many ways, one of them is the common identity theft. In this case, identity theft works in those areas where thieves steel the different types of credit information such as credit card numbers, and do the transaction of money from the victims account into yours.
Identity theft can also works in different types of medical services such as different types of fraudulent steel the important papers related to such medical field such as insurance papers and stole the whole money to fulfill their desires
Identity theft Through Technology
Identity theft can also works with the help of different types of technology, the main technology that is used for such purpose is the internet technology. Different types of fraudulent used internet technology to do the fraud with the other persons and stole their all types of services. Many type of people used internet to spread the different types of frauds on the network in the form of spam. They used different type of techniques such as design a fraud on the name of charity, can easily dop the transaction of money in their accounts, and also steel the money on the name of job application payments.
Therefore, it is our moral duty to check our security measures regularly and also adopt new security features of internet technology to avoid such identity theft.