Please enable JavaScript.
Coggle requires JavaScript to display documents.
Identity Theft :forbidden: - Coggle Diagram
Identity Theft :forbidden:
Definition
Identity theft
Identity thieves can use a Social Security number and personal information to obtain credit, open a bank account, get a tax refund, or even rent a place to live.
The number one method is for a thief to steal a social security number and open accounts using a different date of birth.
Is when someone uses your personal information without permission to commit a crime such as opening a credit card account in your name.
Credit report
Is a record of the borrower's credit history from a number of sources, including banks, credit card companies, collection agencies, and governments.
2 types
of identity theft
Existing account fraud
This occurs when a thief gets access to the account information of a victim and uses it to make purchases.
New account fraud
This occurs when a thief uses the social security number and other personal information to open new accounts.
This type of theft is
much harder
to detect because the account information will be going to another email address and physical address. The only indication may be when
failure to repay something
appears on a credit report.
Personal information the identity thieves are looking for
First, last and middle name
Social Security number (SSN)
Date of birth
Address
Phone number
Driver license number
When do people who have been a victim of identity theft usually find out?
The first indication that you have been a victim of identity theft is often when you apply for a loan, such as
a student loan
for college, or
try to rent
an apartment.
These are times that an agency will
“run a credit check”
to see if you are
a reliable person
to
give a loan
or
rent an apartment
to.