The idea of identity theft is not a new concept; it has been around for many years in various forms. The simple definition of identity theft is the stealing of personal information, often to impersonate that individual in what is more accurately called “insurance fraud” or “impersonation”. All through time there has been someone, somewhere, who takes advantage of vulnerable people and uses their personal information in order to profit.
This threat has grown exponentially with the use of online banking and online shopping. Personal information such as passwords, credit card numbers and bank account information is available online and thieves no longer need to be in the same physical vicinity of their victims to steal from them. Once you are hit by identity theft it is difficult to recover. You are responsible for the charges and you may not be able to recover lost money from an account. That is a scary thought for anyone.