What is the legal definition of identity theft?

What is the legal definition of identity theft?

Identity theft and identity fraud are terms used to refer to all types of crime in which someone wrongfully obtains and uses another person’s personal data in some way that involves fraud or deception, typically for economic gain.

What is identity theft in simple terms?

Identity theft is the crime of obtaining the personal or financial information of another person to use their identity to commit fraud, such as making unauthorized transactions or purchases.

What is an example of identity theft?

Once identity thieves have your personal information they may: Go on spending sprees using your credit and debit account numbers to buy “big ticket” items like computers or televisions that they can easily re-sell.

What does a person need to steal your identity?

Identity theft begins when someone takes your personally identifiable information such as your name, Social Security Number, date of birth, your mother’s maiden name, and your address to use it, without your knowledge or permission, for their personal financial gain.

How do I know if someone is using my identity?

How To Know if Someone Stole Your Identity

1. Track what bills you owe and when they’re due. If you stop getting a bill, that could be a sign that someone changed your billing address.
2. Review your bills.
3. Check your bank account statement.
4. Get and review your credit reports.

How does Social Security identity theft happen?

A dishonest person who has your Social Security number can use it to get other personal information about you. Identity thieves can use your number and your good credit to apply for more credit in your name. Then, they use the credit cards and don’t pay the bills, it damages your credit.

How often does identity theft happen?

Identity theft affects about 1 in 20 American each year. According to Javelin’s 2020 Identity Fraud Survey, 13 million consumers in the U.S. were affected by identity fraud in 2019 with total fraud losses of nearly $17 billion.

Who is most at risk for identity theft?

Most Affected Groups Consumers between the ages of 40 and 69 are reporting identity theft at higher rates, suggesting a growing awareness of this crime—and vulnerability.

Is ID theft common?

Nearly 60 million Americans have been affected by identity theft, according to a 2018 online survey by The Harris Poll. That same survey indicates nearly 15 million consumers experienced identity theft in 2017. So, yes, the crime of identity theft is relatively common.