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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
Online identity theft through the use of computers does not necessarily have real space analogs as exemplifed by techniques of IP spoofing and page jacking (Katyal 2001).
These firms are therefore vulnerable to online identity theft. Included among these 63 firms are 40 whose site listed both names and e-mail addresses of the principals or employees.
A dozen companies and organizations in information security and e-commerce have formed a coalition to coordinate defenses against so-called "online identity theft", it was announced yesterday.
Personal identity management broadly encompasses the protection of mobile devices from malware, data theft, unauthorized access, viruses, spyware, hackers, online identity theft, and accidental loss.
Wright USA markets Wright Identity Shield, an online identity theft and credit monitoring service exclusively for federal employees which will notify them about potential misuse of their personal credit information.
Its developers say users can be assured that the system is secure and will protect them from online identity theft.
Melbourne, July 6 (ANI): A new survey has suggested that Australians are falling victim to online identity theft at an alarming rate, costing them 1.3 billion dollars over the past year.
The online identity theft prevention kit; stop scammers, hackers, and identity thieves from ruining your life.
Norton Confidential reportedly provides consumers with online transaction security that safeguards against online identity theft and fraud; blocks attacks designed to steal passwords, account numbers and other personal information; authenticates high-profile banking and shopping web sites; and minimizes risks associated with online transactions.
Anonymous Surfing defends users from the most prevalent Internet privacy and security threats, including online identity theft, phishing attacks, and online tracking.
Specifically, they identify several concerns related to online identity theft, including increased risk of online customer databases and enhanced use of wireless applications.

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