Identity Theft has become a very lucrative crime lately. The majority of the people have just started to realize the scale of the problem, thus are able to minimize the damage, even if just by a little bit. As our protection capabilities have evolved, so have the ways to bypass them. The means to an end have remained the same though – one’s social security number has been and still is the most important part in the process of stealing one’s identity.
Loosing an Identity
There are numerous ways for someone to impersonate one’s identity. By doing so he or she is abusing the Social Security Number of that person (SSN) for their own gain. SSN is something confidential, and should be considered one’s property. It represents a name, address, date of birth, financial history, medical history, and more.
SSN abuse happens for various reasons, but the common denominator remains the same: a clean background and financial history that can be leveraged into an illegitimate act, either directly or by a 3rd party if brokered on the black market.
The Federal Trade Commission, says that Digital Identity Theft patterns show several types of theft methods;
- Credit or debit card theft. The card itself can be used for other Identity Theft crimes, for example, forging a signature.
- Skimming. This means that someone swiped a card through the device that reads information from the card, and stores it for later. This way someone may use it even if he doesn’t have it physically.
- Pretexting. This is considered one of the reasons Identity Theft occurs in the first place, because people have no reason to doubt someone calling from IRS for example, asking them for their SSN or other sensitive information.
- Intercepting. Hackers often intercept two parties having a conversation about something very personal, including conversation with bank.
- Phishing scams. These are the most common crimes and they are based on pretending, with a goal to extort information using email, text messages, and the phone calls. More surprising is the fact that 5% of people will act as asked without thinking about it. Depending on the medium used, these are now divided into subcategories.
The stolen identity is then used in cybercrime, in various ways. None of which ends well for the victim.
What can someone do with the stolen identity?
- Open a financial account. With SSN perpetrator can open the credit account, when time comes to repay, they naturally won’t do it. Victim ends up with the damaged credit score.
- Get medical care. Imposter can be using victim’s health care, not only ruining the score, but exposing the victim and himself to life threatening danger. History of disease is not the same for all, they can be treated for illnesses they don’t have.
- File for tax refund. This is also called taxpayer identity theft. They could be asking for tax refund, and this way any refund the victim is owed will be delayed.
- Committing crimes. If a person has committed a crime, and gets arrested, he or she might give victims SSN. This way the innocent victim ends up with the criminal history
- Stealing benefits. Identity thief can file for unemployment or other benefits, stealing the right from the victim.
Protect and Defend your Identity from Theft
Internet users can still make a difference by taking the steps to protect themselves from having their identities stolen.
What can you do to protect from identity thieves?
- Never give your SSN easily, be curious and ask why it is necessary.
- Make sure you memorize all the passwords and PIN’s, and not leave them in a written form.
- Minimize the number of websites you make purchases on. Stick only to the ones that are encrypted, which means they have a padlock next to URL.
- Limit the number of credit and debit cards you use.
- Avoid mails that have suspicious address, hackers often add just one letter different than the legitimate mail address.
- Update your antivirus and OS at all times.
- Try using software designed to prevent the Identity Theft.
It is prerogative that users try and do all that is in their power to prevent being victims of these vicious crimes. Social Security Number for cybercriminals is the ultimate goal, a prize. Although there are many ways in which one can still your identity – you should not make it any easier on them. Having your identity stolen has both financial and emotional price tags attached to the crime, and you should utilize all possible means to proactively prevent it if you can.