Crime is always going to exist. Some criminals suffer the consequences of their actions, but some don’t. Despite the laws that the authorities try to enforce, criminals find ways to break them without being caught red handed.
Identity theft is on the rise. Criminals waiting to steal your personal information can easily do so via the Internet as more and more users make financial transactions online and manage their bank accounts on the Internet. Identity theft and identify fraud may seem like the same concept, but there is a difference.
Identity theft occurs when thieves access your personal information, such as your driver’s license, social security number, address, and name to impersonate you. When thieves get access to all of your personal information, stealing your identity is easy.
Once a criminal has your personal information, they can open new accounts under your name. This is called true accounts identity theft. Criminals can also access money in your existing accounts—this is called account takeover.
Identity theft is very serious. Criminals have open access to your money and can destroy your credit rating and financial future. Support groups and the authorities can help individuals who are the unsuspecting victims of this crime.
When a criminal creates fake personal information it’s called identity fraud. When referring to identity fraud, the criminal does not steal personal information or assume a real person’s identity. They use the personal information of a fictitious person. This fake person serves as a mask to commit crimes.
The criminal can make various financial transactions at different banking and credit institutions using this fictional identity. Anyone can be affected especially if they unknowingly made a financial deal with the criminal.
Identity theft and identity fraud are serious crimes. The best way to ensure that you don’t become a victim of these crimes is prevention. Keep your personal information safe and conduct background checks if you suspect that the individual may not be using his or her real identity. Most of all, keep your guard up and be aware at all times.