{"id":775,"date":"2023-04-14T07:53:41","date_gmt":"2023-04-14T07:53:41","guid":{"rendered":"https:\/\/dataprot.net\/?p=775"},"modified":"2023-05-06T09:11:07","modified_gmt":"2023-05-06T09:11:07","slug":"what-are-the-different-types-of-identity-theft","status":"publish","type":"post","link":"https:\/\/dataprot.net\/guides\/what-are-the-different-types-of-identity-theft\/","title":{"rendered":"What Are The Different Types Of Identity Theft?"},"content":{"rendered":"\n

Identity theft is a growing concern in the digital age. Sharing personal information online can make accessing it easier for identity thieve. Federal Trade Commission<\/a> gathered about 1.4 million reports of identity theft in 2021 alone. This data is double the number of reports from 2019. <\/p>\n\n\n\n

Identity thieves use another person\u2019s personal information for fraudulent actions. These actions can range from opening fraudulent credit card accounts<\/a> to filing tax returns in someone else’s name. <\/p>\n\n\n\n

In this article, you will dive into the different types of identity theft and how they can affect individuals and businesses.<\/p>\n\n\n\n

Types of ID Theft<\/strong><\/h2>\n\n\n\n

Identity theft is a potential risk for anyone at any stage of life. Young individuals are particularly vulnerable to becoming victims of identity theft. <\/p>\n\n\n\n

Identity theft statistics<\/a> show that the cost of identity theft around the world reached $25.6 billion in 2020.<\/p>\n\n\n\n

The following are the most common types of identity theft:<\/p>\n\n\n\n

Financial Identity Theft<\/strong><\/h3>\n\n\n\n

Financial identity theft is the most prevalent form of identity theft. It occurs when someone uses your personal information for financial gain. <\/p>\n\n\n\n

Consider placing a security freeze or initial fraud alert on your credit reports and reviewing them regularly if you suspect someone has compromised your information.<\/p>\n\n\n\n

One real-life example of financial identity theft is the case of David Matthew Read. He pretended to be Demi Moore\u2019s assistant to request a new credit card. He then went on a shopping spree and spent over $169,000<\/p>\n\n\n\n

Tax Identity Theft<\/strong><\/h3>\n\n\n\n

Tax identity theft occurs when thieves file a tax return using your information. The thief will typically use stolen personal information to file a forged tax return at the beginning of the filing season before you can do so. <\/p>\n\n\n\n

This time frame allows the thief to receive the refund before the IRS processes the legitimate filing. <\/p>\n\n\n\n

An example of this type of theft is the case of Wilmer Alexander Garcia Meza<\/a> from Waukegan, Illinois. Garcia Meza obtained ITINs from the IRS fraudulently using other people’s personal information.  <\/p>\n\n\n\n

Garcia then used those ITINs to file tax returns under the stolen identities, receiving thousands of refunds.<\/p>\n\n\n\n

The court sentenced him to 29 months in prison for filing false tax returns using stolen identities. They ordered Garcia Meza to pay restitution to the United States and serve three years of supervised release.<\/p>\n\n\n\n

Medical Identity Theft<\/strong><\/h3>\n\n\n\n

Medical identity theft involves using your information to receive medical care in your name.<\/p>\n\n\n\n

An example of this type of theft is when someone uses your name or health insurance details to perform any of the following actions:<\/p>\n\n\n\n