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Module 2
How Credit Affects You
Identity Theft and Fraud
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Top Identity Theft Scams: How Thieves Steal Information

Knowledge is PowerIdentity thieves are continually devising new ways to steal personal information. But as the saying goes, “knowledge is power.” By being aware of some of the most common scams for stealing personal information you can help avoid the devastating personal and financial consequences of identity theft.
  • Dumpster Diving: Thieves physically comb through your trash — or the trash of merchants, ATMs or financial institutions — to collect account numbers, credit card numbers, Social Security numbers or other personal information that they use to take over your account.

  • Mail Theft: Both outgoing and incoming mail can be targets for identity thieves. Thieves look for pre-approved credit offers or blank credit card convenience checks that can be readily used for high-ticket purchases or to access your account.

  • Phishing: Someone posing as a representative from a trustworthy company with whom you are doing business e-mails you a request for your user name, password, PIN or credit card number. They ask you to “update” or “confirm” your information by clicking on a phony e-mail link or completing a form within the e-mail.

  • Pharming: By placing worms or viruses on your computer, thieves redirect traffic from a legitimate Web site to a fake site to gather your login name and password or other personal information.

  • Harvesting: Your email address and other personal information is collected (harvested) when you visit a Web site, then illegally used or sold to others who may use it maliciously. The Web site may appear to be legitimate and may even ship goods or provide services, but its underlying purpose is to get your information.

  • Cracking: Your computer system is broken into from a remote location. Once your system is compromised, your files and your personal information, are available to the person who accessed your system.

  • Pretexting: Someone representing a company with whom you do business calls you. They ask you to “update” their records by requesting your Social Security number or other personal information over the phone.

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