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Identity Theft Is A Part of the Digital Age
By: Aazdak Alisimo..
It is amazing to consider how quickly we have converted to a digital world. When was the last time you sent a letter through snail mail? In this age of massive data manipulation, we get more done then ever before. There is a price for all this efficiency.
Data breaches and the resulting identity theft situations are a definite price of the modern computer age. The first step is, of course, the data breach which is simple some act that successfully eludes a security system to access financial information.
Many people think the goal of a data breach is to get your bank account or credit card information. The sophisticated criminal, however, really wants your social security number, address and phone number. This info can be used to open new accounts.
Fortunately, most databases do not contain all this information. This makes capturing your email a priority. Once they have it, a hacker is then going to send you an email trying to entice you to provide the missing information needed.
So, how do these emails work? They are typically tailored to appear as though they are from a company you are readily aware of. They then offer to upsell you one something great if you click through and supply your financial information.
Okay, the criminal element now has your information. What are they going to do with it? Make money, of course! There are a variety of methods for doing this, but two are the most popular.
The primery way criminals make money using your information is pretty much what you expect. They either misuse your current credit card accounts or, alternatively, your sensitive financial information is used to open entirely new cards.
A less obvious, but more effective form of identity theft, is the selling of the information for true identity theft. In this case, a person is truly stealing your identity and using it in every day things. Why would they do this?
The first reason is some people need a completely new identity to leave behind a particular past. They may have committed crimes, blown up their credit or just be running. Such people will pay plenty for a new identity.
One of the more controversial issues today, illegal immigration, also gives rise to identity theft. Many jobs now require an applicant to present a social security card. Illegals don't have them, so they are willing to buy yours and use it!
When society takes a jump forward in any particular area, it creates both legal and illegal opportunities. Data breaches and identity theft represent the illegal side of the equation. Make sure to keep an eye on your finances to guard against these problems.
Article Source: http://www.ezarticles.info
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