Identity Theft

What is identity theft?

Identity Theft Definition: Identity theft occurs when personal or financial information is stolen and used by someone else to commit identity fraud. The person committing identity theft will make unauthorized purchases and transactions and withdraw funds.

This crime often leads to damage to credit cards and a person’s financial reputation until the matter is resolved with a bank and law enforcement. Identity theft is commonly done online, requiring banking and financial websites to provide high security and protect their clients’ accounts.

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