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Identity Theft: Definition, Meaning & How to Prevent Identity Theft

identity theft report

Do you want to be safe and don’t get in a trap of dirty scammers? The team of 123 ChargeBack will help you to know all about identity frauds and the ways these scams work to help you to avoid such tricks. Read the whole article and try to remember as much as possible.

Identity Theft Meaning: All That You Should Know About It

identity theft examples

We have collected the most important information from reliable sources to explain identity theft in the best way. Read the following information to know how to prevent identity theft before it’s too late.

Identity Theft Definition

Identity fraud is a violation of a law, a crime in the form of stealing the financial or personal information of a user.

What Does Identity Theft Mean?

Committing this offense means to break a law by using this information without the permission of the owner. Such a transaction aims to perform unauthorized purchases or other transactions.

How Do Scammers Collect Information?

  • From your social media if you accidentally post something that can be used by scammers;
  • From trash bins, after you have through some papers with credit or bank account information;
  • By hacking corporate databases to steal information about customers or employees;
  • By receiving your private information which you submitted on a phony website;
  • Also, they can gather pieces of information by asking your friends, colleges, and family members, pretending to be bank managers.

Most Common Types of Identity Theft

explain identity theft

Identity theft can be performed in various forms. Moreover, victims lose not only their information but also money, suffer damage to their reputation, finances, and credit. So, identity theft examples can be the following:

Financial identity theft

In a financial identity scam, one person illegally obtains another person’s identity or data to buy bonuses, benefits, credit, products, services. This type of scam is the most popular among identity thefts.

Medical identity theft

In medical identity theft, one person pretends to be another person to get free medical treatment. 

Social Security identity theft

If identity criminals get your Social Security number, it will allow them to apply for credit cards and mortgages without paying dividends. Scammers may additionally take your number to gain medical benefits.

Fictitious identity theft

Fictitious identity theft is a kind of hoax in which a criminal joins real and fake data to form a new identity, which is applied to create deceitful accounts and make fraudulent shopping. Such identity theft empowers the offender to steal funds from any credit card businesses that prolong credit based on fraudulent identity.

How to Protect Yourself From Scamming Schemes?

  • Don’t through information with your bank details in public trash bins;
  • Don’t show both sides of your credit card to strangers;
  • Don’t share private, sensitive information, or your bank account information on social media or social networking sites.

What to Do if Identity Theft Happened With You?

  • Firstly, you should call the police to make a report about the crime;
  • Secondly, contact your bank manager and ask to block your credit card or bank account;
  • Thirdly, reset your password in the bank app or several bank apps;
  • Fourthly, change your password to email if you being hacked there;
  • Finally, read the next information about how to make a report on our website.

Identity Theft Report

If you want to make a report about identity fraud, follow this link to make a report. The 123 ChargeBack wants to help you! Together with our partner, we will help to restore justice.

Thank you for reading our article till the end! We hope that now you won’t become the next victim of scammers. Keep your private and financial information save and read related articles as well:

  1. How to Detect Tech Support Scams and Don’t Get Tricked By Scammers?
  2. Credit Card Skimming Scams;
  3. Paypal Fraud;
  4. Netflix Scam.

Take care of yourself and see you soon! Stay with us and subscribe to our blog to know all the important information about scams.

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Author of article

Tatiana Sharapova

Interests: music, finance, cinema, art

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