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How to Identity Theft

The legal responses have been touched upon briefly. To understand the seriousness of identity theft we firstly need to know the different types of electronic frauds. The next section helps us understand the different electronic fraudsWith the increased usage of computers and the Internet, there is a lot of movement data and personal information. This is one of the biggest causes for to increase of electronic crime. E-crime related very seriously and is every country has its own laws relating to the Internet usage.Identity theft is when the personal identification information is stolen for the illegal use of opening bank accounts, stealing money, pension payouts or to gain any other benefits. Here the accused generally pretends to be someone else for his own benefit at the cost of his victim. For instance, in US the personal information such as name, address, date of birth, phone number and social security number are the most essential and are required for opening bank accounts. Thus a loss of any one of these pieces of information could open a chance for id theft.Identity theft could seem to be a simple problem but the consequences could be drastic depending on the kind of fraud done by the thief. It could lead the victim to have a bad credit report, or even lead to arresting the victim for any other drastic crime. Identifying an identity theft is a very long process and can take even as long as twelve months by the time very large damages can have been made.There are numerous sources from where identity theft those take place. The average amount of money the average victims loose due to identity theft is nearly $6,000. It is very essential to understand the various kinds of Identity theft. The more these are understood better the safer individuals can be against identity theft. A few of the different possible identity thefts are discussed below.