Definition: The crime of Identity Theft remains an active and growing threat. It’s main enabler is the theft or unintended disclosure of an individual's or organization’s confidential information. Once a disreputable person or crime-ring has obtained your personally identifiable information, it can be used to defraud the digital processing infrastructure. Loans can be obtained using your unique credentials, credit card accounts can be opened in your name and possibly fund extended crime sprees. Safeguards against unauthorized disclosure are limited and require that people be proactive in the fight against ID theft.
Awareness and how people function in their daily lives is key to preventing ID larceny. A person or organization must adopt a personal information assurance plan. File a full ID theft report which consists of two documents as soon as you learn someone has fraudulently obtained and used your identity.
Its Relevance: People are defrauded of billions of dollars each year due to the loss of confidential data. You financial world can be turned upside down if you lose personally identifiable information. Your credit rating could be destroyed and you may face countless hours repairing the damage. You could suffer serious financial losses.