Identity theft is the crime of illegally stealing the personal and financial information of another person with the intent of assuming the victim’s identity. Identity fraud is the illegal use of that stolen information.
Identity theft occurs from many things like breaches of security, malware, hacking, and phishing. There is an abundance of information on the internet and information is generally free, so your identity can be stolen.
Anyone can be a victim of identity theft from entities in the business, individuals, and the government. Nonetheless, in reports, the elderly are more likely to be targeted by attackers, as they are also more likely to have more beneficial information for these attackers.
Not many businesses are fortunate enough to recover financially from identity theft; some are never able to recover at all. There are steps we can take to protect ourselves from fraudsters, such as monitoring our credit card and bank statements, verifying communications, and making sure we use the correct website addresses.