by 
The Curious Bag
-
Identity fraud is the theft of one person's identity by another person to create new credit or falsify information in the victim's name. Types of identity fraud are credit card fraud, phone or utility fraud, banking and loan fraud, employment fraud, social security fraud, tax return fraud, illegal immigration and government document fraud, securities and investments fraud, bankruptcy fraud, residential fraud and medical fraud.
Credit Card Fraud
In credit card fraud, the thief steals personal and identifying information to create new credit cards.
Phone or Utility Fraud
In phone or utility fraud, the perpetrator opens cell phone accounts or a utility in another person's name.
Banking and Loan Fraud
Opening a bank account or initiating a loan in another individual's name is banking and loan fraud.
Other Identity Frauds
Employment, social security, tax return, illegal immigration and government document, securities and investment, bankruptcy, residential, and medical frauds all involve the falsifying of personal information on these legal documents for the perpetrator's personal gain, for example, to get a job using a stolen identity.
Consequences for Victims
Victims of identity fraud suffer bad credit problems following the violation of stolen personal information.
Source:
Resource:
Ck Fraud
RELATED QUESTIONS
Copyright 2023, Wired Ivy, LLC