financial identity theft Archive
Financial Identity Theft definition states that it is a crime where a person steals another person’s financial information or personal data that leads to financial theft. The sole purpose of this type of theft is to steal a person’s identity in order to make transactions or purchases.
Child identity theft Facts allow parents to know and understand what dangers could follow their child since they are born. As this is a very common type of identity theft and happens when children or teens below 18 years of age become a victim of identity theft.
Financial identity theft usually occurs when a person wants to steal somebody’s identity for financial gains, identity frauds or when the thief wants to make fraudulent transactions. At times the thief hacks the account so that the account holder remains unaware of the unlawful action and there he loses his credit protection too.
Identity theft is the technique of stealing someone else’s identity for personal gain. In this, the thief deliberately steals other person’s personal information to obtain benefits such as financial gain, medical benefits, etc. Hence, we can say that identity theft always leads to victim’s loss, be it financial loss or loss of service benefits.