Identity theft involves the wrongful acquiring and use of an individual's personal information in order to impersonate him or her. Typically, stolen information includes, name, address, telephone number, social security number, driver's license number, credit card numbers, bank account numbers, mother's maiden name, PINs, telephone calling card numbers, birth certificates, and passports. The identity thief uses various combinations of these pieces of information to buy goods, take financial accounts, open new accounts, divert mail, apply for loans, apply for credit cards, acquire employment, rent apartments, all in the victim's name.
Identity theft is considered the fastest growing form of consumer fraud by some U.S. officials.
1 Identity thieves defraud more than 1,000 people a day and cost consumers and lenders more than one billion dollars a year. Even persons not directly affected by identity theft pay for it in higher interest rates. This type of crime can go on for some time before the victim realizes what has happened. Often the victim does not know anything is wrong until he or she is refused credit or contacted by creditors demanding payment of past due accounts. By this time the victim's credit history may be seriously damaged.