Identity Theft Defined: Try To Take A Look

In some parts of the globe people talk about identity theft but do not actually know what it really means

. Identity theft for many is a still vague concept. Some misunderstood it with other forms of crime like credit card fraud. Still others do not believe such terms do exists. To clarify this amorphous terminology, here are some of the discussion and differentiation of it.

Let us begin with the definition of identity. In psychology point of view, identity answers the question "who am I'. But when it comes to person's individuality, identity includes the name, date of birth, address, finger prints, SS number and other related information about the person.

Identity theft is stealing all these information by someone who wants to use it in a dishonest way. It is "I-jacking". Not physically though, that someone will become you. She will use all your information in the transactions she does. Since your masquerader is going to use your personal data wrongfully, you become the victim. In most instances, they will erase the life of their victims and can make their existence difficult to live.

However this does not mean your perpetrator is actually going to move, talk, laugh or live like you do. What he wants only is your personal information. This is because he is going to use it for his economic gain.

Identity theft is classified into true name and account takeover. In the former, your personal information is use to open an account by your impostor. For instance, the thief is going to open a new credit card account or new checking account or create a cellular phone service.

The latter crimes on the other hand, use personal data as an entry into your existing accounts. The thief is going to change the address in the post office and would nick a large sum of money. For example, when you have several credit accounts in your name in default in which you did never set.

Identity theft is different with credit card fraud because it can take 30 days to years to be realized it is actually being done. This happens because we are not vigilant of our theft protection. Credit card fraud can be detected in hours after it is done because it can be seen in the credit statement.

With this presentation and cited examples, this crime should not be mistaken as the credit card fraud or be associated with other crimes related to it. Some say business people are afflicted with credit card fraud while customers worry about identity theft.

by: Leo Chu

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