Identity theft

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Identity Theft

A crime in which a person pretends to be another person for the purpose of using his/her financial information for personal gain. Identity theft can be fairly basic; for example, one may steal and use a credit card. Often, however, identity theft involves using computer programs to find a person's financial information and conduct large transactions with that person's money. Identity theft is a serious crime, as it can ruin the victim's credit, making it difficult to obtain a loan when one is needed. Many banks and credit card companies provide identity theft protection to reduce a client's liability for identity theft and to minimize its occurrence.

Identity theft.

Identity theft is the unauthorized use of your personal information, such as your name, address, Social Security number, or credit account information.

People usually steal your identity to make purchases or obtain credit, though they may also use the data to apply for a driver's license or other form of official identification.

References in periodicals archive ?
Identity fraud is not a stand-alone coverage; it must be attached to a homeowners' or farmowners' policy.
Mr Davies said the threat of identity fraud should always be taken seriously.
Since identity thieves acquire valuable personal information in less obvious ways--from sorting through trash for bank statements to stealing pre-approved credit card applications in the mail--only 10 percent of survey respondents could identify whom the perpetrator was who committed identity fraud against them.
He added: "The new website provides essential advice on how to protect your business and its customers from identity fraud.
We have a personal responsibility to protect our identities, and I hope the people of Warwickshire will join with us in partnering with National Identity Fraud Prevention Week to help stamp out identity fraud.
Tyron Hill, marketing director of Fellowes and National Identity Fraud Prevention Week, said, "Despite continued work to raise awareness of identity fraud, it seems that still not enough is being done.
Experian fraud consultant, Anne Green, says the growth in identity fraud in seaside towns like Southport can be explained by "cheap accommodation and transitional population".
Identity fraud ranges from application fraud, in which someone uses a stolen identity to apply for financial products in their victim's name, to account take-over, where a fraudster obtains sufficient information on a victim's bank account, such as through bank statements, to convince the bank it is their own account.
This report is supported by the Better Business Bureau, issued as a longitudinal update to the Javelin 2005, 2006, 2007, 2008, 2009, 2010, and 2011 Identity Fraud reports and the Federal Trade Commission's 2003 report.
Research carried out for the organisers of this week's National Identity Fraud Week, showed that more people had fallen victim to the crime in the UK than in Germany, Ireland, the Netherlands and Belgium combined.
Research carried out for the organisers of National Identity Fraud Week, which started yesterday, showed that more people had fallen victim to the crime in the UK than in Germany, Ireland, the Netherlands and Belgium combined.
Sutton Coldfield is the identity fraud capital of the West Midlands - that is its citizens are more likely to fall victim to such a fraud than those anywhere else in the region.