Identity Stolen and Credit Card Forums – What You Need to Know

Identity thieves use other people’s private information for many things. The most frequent usage is credit card fraud. After they have got a target’s personal details, thieves can open new lines of credit, hijack current credit card balances, and go on spending sprees with other people’s money. Here’s a review of the numerous approaches identity thieves use to perpetrate credit card fraud.

Opening New Accounts

Armed with personal information like a name, date of birth, and Social Security number, thieves can impersonate somebody else so as to open new lines of credit. They are able to apply for credit cards in their victim’s name, or steal pre-screened credit offers in their target’s mailbox or trash can. These pre-screened offers sometimes contain credit cards which the thieves can trigger by calling a toll-free amount. Many sufferers are unaware that someone has taken out credit cards in their name until they receive calls from debt collectors or get declined for loans because of low credit score.

Hijacking Existing Accounts

Besides opening new lines of credit, identity thieves can use their Ill-gotten information to take control of current accounts. They do it by using their victim’s personal information to verify the burglar’s identity as the actual account holder. Then the thief changes account details such as PINs, passwords, and billing and prtship carding. Once an identity thief has established control over somebody’s accounts, it can be tricky to return control to the appropriate owner before the burglar wreaks financial havoc.

Skimming

Through using palm-sized card-reading apparatus, thieves can swipe all their victims’ card data in no time whatsoever. Skimming is a subtle crime that usually is not detected until victims detect fraudulent charges on their credit card bills. Anyone who hands their card to a worker at shops or restaurants is a possible target for skimmers. Some skimming devices can also be implanted into gasoline pump card readers and ATM slots. They harvest card information for identity thieves to use, and many devices are impossible for casual observers to discover.

Phishing and Dishing

Phishing is a scam that thieves use to trick victims into providing their personal information. Some thieves send out e-mails that seem to be from banks or popular internet sites. They supply a connection for the recipient to follow. The link takes the victim to a login page where they enter their information so as to verify it. What they are really doing is giving their personal details to identity thieves. This scam is also pulled over the telephone. That variation is called vishing. Scammers pretend to be agents of the IRS or the victim’s individual bank. They request the victim to confirm account information and personal information, or provide a telephone number where the information can be entered using a touch tone telephone.