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Identity Theft Protection In 2021

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Identity theft refers to if a person steals personal information from individuals, whether living or dead person, with the intent of using it for private gain. More often than not, the most important reason behind many identity thefts is monetary gain for the fraudster.

Most Common Types Of Identity Theft

With the advancing technology, these applications and platforms seek to acquire pieces and pieces of their personal information for enrollment. Most companies and applications strive to ensure that this sensitive information is encrypted and kept secure. But some are not as genuine. Here are the different kinds of identity thefts usually practiced.

Medical identity theft — These instances happen when a fraudster introduces someone else to get medical services. Statistics exhibit that the medical profession held the second-highest data ruptures in 2018. (Hamilton, 2021)

Tax identity theft — this kind of identity theft involves gaining access to an individual’s personal information and applying it to enjoy tax returns. Pins, passwords, and user IDs are critical for such theft. Once the return is accepted, the money enters the imposter’s account rather than yours.

Social security theft — If used along with other private data such as pins and passwords, then this number is hazardous when in the hands of fraudsters. These thieves wind up opening several fraudulent accounts using these vital details.

Child identity theft — were you aware that fraudsters can slip your kid’s personal information to file open and tax balances on credit without your knowing? Unfortunately, victims just become conscious of the theft when they start working and need to open accounts.

Criminal identity theft – This theft is caused essentially by criminals. They take photo IDs, social security numbers, and other private information to ensure that the sins committed appear on the victim’s record. Such incidents are rare but not unusual.

Estate identity theft – Such situations apply to deceased persons whose personal data is used to open accounts or steal money. Somnath cases occur when fraudsters understand that the victim’s death is undocumented.

Synthetic identity theft — this kind of theft is just one of the fastest-growing from the U.S. It works by combining genuine and bogus information from kids, the dead person, along other unsuspecting victims to create new but anonymous identities. These identities take hold of data from various individuals and use their credit to take loans or open accounts.

Identity Data Breach Cases

The hackers posted tweets seeking Bitcoins by the general public through these accounts. Around 130 high-profile reports were broken, with a few of the victims such as Barack Obama, Joe Biden, Kanye West, and Elon Musk. Behind this violation was a 17-year-old boy from Florida who was able to get a little over $100,000 from unsuspecting victims. (Rodriguez, 2020)

It is estimated that fraudsters sold more than half a million Zoom passwords over the darknet in April 2020. The hackers then tested the stolen passwords into the usernames until they found their matches. Zoom’s CEO publicly responded and accepted the blame by saying that they were not prepared to get as much traffic as they did after the pandemic. The organization had not foreseen such usage on their platform and so could not adequately protect its user’s credentials.

A malware attack allowed a hacker access to documents containing the medical information of over 200,000 patients of this hospital. This information included health insurance policy info, dates of birth, identification information, titles, and addresses.

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