Identity theft has undeniably reached a critical level as a modern-day crime. With around 9 million Americans victimized by it per year, it certainly has the potential to initiate a societal panic. Despite its epidemic nature though, being aware of its mechanisms will significantly decrease the likelihood of its occurrence. Thus, the following are the top five tricks that identity thieves do when committing the crime:
1. Direct Theft
Despite of the several other modernized methods of theft, numerous studies and surveys have indicated that majority of identity thieves continue to utilize traditional methods of stealing information. Such methods continue to be the easiest means of gaining access to credit card information and bank statements. Examples of these tricks include pickpocketing and burglary.
2. Skimming
As one of the most innovative means of stealing personal information, skimming is probably the most effective method practiced by identity thieves. It involves the use of a high-end storage device that is installed together with a legitimate card reader in order to copy credit card information. This technique efficiently steals information without the victim knowing it.
3. Phishing
Through the use of bogus e-mails and web pages, phishing allows perpetrators of identity theft to solicit personal information directly from its victims through deception. Identity thieves commonly execute this practice by pretending to be a legitimate financial institution or business establishment.
4. Dumpster Diving
Considered to be the oldest method of gathering information, dumpster diving involves sifting through garbage bins and trash cans which potentially contain documents with financial information. This method provides identity thieves with access to bank and credit card statements and utility bills, among others.
5. Pretexting
A method similar to phishing, pretexting is a malicious process used to gather useful client information from banks and financial institutions. Identity thieves perform this by calling the banks and falsely assuming someone else’s identity in order to solicit pertinent details.
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