Identity Theft

What Is Identity Theft?

Identity theft is a type of fraud that involves stealing someone’s personal information, such as their name, address, Social Security number, bank account numbers, or credit card numbers, in order to commit financial crimes. Identity thieves use this information to open new accounts, make purchases, or take out loans in the victim’s name. Identity theft can also involve using someone’s personal information to obtain government benefits, such as Social Security or unemployment benefits. Identity theft can have serious financial and legal consequences for the victim, and can take a long time to resolve.

Description

Identity theft is the unauthorized use of another person’s personal information for financial gain.

Usage and Examples

Identity theft is a serious crime that can have serious financial and legal consequences for the victim. For example, an identity thief may use a victim’s personal information to open new accounts, make purchases, or take out loans in the victim’s name. The thief may also use the victim’s information to obtain government benefits, such as Social Security or unemployment benefits. Identity theft can be difficult to detect and can take a long time to resolve.