Exposed: The Truth About Identity Theft
By Tom Seest
Is Identity Theft A Plague With Cybersecurity Roots?
At BestCybersecurityNews, we help entrepreneurs, solopreneurs, young learners, and seniors learn more about cybersecurity.
Identity theft occurs when someone steals your personal information and uses it for criminal activities. This could include bills for items you didn’t purchase, collections notices and incorrect data on your credit report.
Cybercriminals employ a range of tactics to obtain your personal information, such as malware and phishing. To protect yourself against identity theft, it’s important to understand what identity theft is, the different types of attacks, and signs to watch out for.
Is Identity Theft A Plague With Cybersecurity Roots?
Table Of Contents
Is Your Personal Information at Risk from Malware?
Malware refers to any software or file designed with the purpose of causing harm or destruction to a computer system, network or server. Examples include viruses, worms, Trojan horses, ransomware and spyware which can steal sensitive data; alter or hijack core computing functions; as well as spy on end user activities.
Viruses were first uncovered in the 1980s and have since become a popular tool for cybercriminals to access personal data. This data often includes credit card numbers, Social Security numbers, and other sensitive details that could be used for identity theft crimes.
Identity thieves often gain access to personal data through data breaches. A breach occurs when a company or organization loses vital records containing details about customers and employees.
Data breaches may expose credit card numbers, Social Security numbers and other pieces of personal information that can be used to open fake bank accounts, rent apartments and make purchases without authorization. The stolen data then has the potential to be sold on the dark web – an area of the internet not indexed by search engines.
Another popular method used by fraudsters to steal this type of data is through phishing, a scam that utilizes fake emails or websites in an effort to obtain user’s personal information. These fraudulent emails usually request passwords or other sensitive details which are then forwarded onto hackers.
Hackers who obtain this information can use it to break into other networks and steal people’s identities. This is often done at coffee shops, airports and other locations with wireless connections.
Criminals can also install malware on your device and access the data stored there, such as your Social Security number or credit card number.
To avoid this, ensure your antivirus software remains up to date and download and install all patches and system updates as soon as they become available. Furthermore, make sure your network is secured, and that all devices have the latest versions of operating systems, applications, and drivers installed.
Is Your Personal Information at Risk from Malware?
Are You at Risk? The Dangers of Phishing in Identity Theft
Phishing is an online security risk that can be used to steal your personal information. This could occur through email, social media platforms, online shopping, or any other situation where you provide personal details.
Cybercriminals send phishing emails, text messages and phone calls that appear legitimate. They usually request you to verify your account or password or other sensitive information. In these phishing attacks, cybercriminals may include malware attachments or links leading to malicious websites.
Email or message may appear to come from a reputable contact such as a financial institution, government agency or official vendor. Once the victim enters their username and password on a fake website, hackers can assume their identity or use their credit card information to make purchases.
These attacks, often referred to as spear phishing, are targeted at specific organizations, companies and individuals. In such an attack, the cybercriminal will conduct research on the target company or individual in order to make their claim more convincing and trustworthy.
They may sift through your mail to locate pieces of information that could be used against you. This could include a recent bank statement, tax form or other documents with personal details included.
Criminals can listen in on your conversations when using a computer or mobile device connected to a public network. This is particularly common at coffee shops, department stores or airports where anyone with internet access can connect without authentication.
At this stage, hackers can install malware on your computer or mobile device and utilize it to monitor communications and collect personal information. They may sell this data to other criminals on the dark web or use it for nefarious activities like identity theft.
To protect against phishing scams, it’s essential to install firewalls on your device and avoid clicking on popups. Additionally, be extra cautious when providing credit card information to a site you don’t recognize or one that promises gifts or money back.
If you believe your financial institution may have been compromised, contact them immediately for more information on how to avoid becoming the victim of phishing scams.
Are You at Risk? The Dangers of Phishing in Identity Theft
Can You Spot the Warning Signs of Mail Fraud?
Mail fraud is a type of white-collar crime that involves using the postal service to defraud someone or something. Since all mail sent within America is handled by USPS, any fraudulent activity involving those messages would be treated as federally criminal activity.
Mail fraud requires two elements: a plan to defraud and mailing to carry out the plan. It could be as straightforward as cashing a check or involving more complex investment scams like Ponzi schemes.
Many crimes are carried out by a group of people who may have planned it beforehand. They will send letters or use social media platforms to contact the victim.
Identity thieves that successfully obtain personal information from victims may use that data to apply for credit cards, loans or medical services. This is a serious offense that could cause both financial and reputational harm to both sides involved.
In 2017, Equifax, a major credit bureau, experienced a data breach that affected 147 million people due to multiple security flaws at their facility.
The two primary forms of mail fraud are phishing and mail identity theft. Phishing involves sending out malicious emails containing malware that will steal your Personal Identifiable Information, while mail identity theft occurs when thieves use information found in incoming mail to extract credit card and bank account details from you.
Another type of fraud is check washing, which involves cashing checks or other sensitive documents containing your personally identifiable information (PII). The thief can then keep the money and keep it for themselves or sell it on to others.
These criminal activities are on the rise, providing professional criminals with a lucrative opportunity for quick money. In 2021 alone, USPS received 300,000 reports of mail theft – an increase of 161 percent over 2020 during this same timeframe.
Mail fraud carries severe penalties, with those found guilty facing up to 20 years in prison and a fine. These punishments are enhanced if the crimes involve either a financial institution or presidential declarations of disaster or emergency.
Can You Spot the Warning Signs of Mail Fraud?
Are Your Online Activities Safe from Keyloggers?
Keyloggers, or malware that steals data by recording what you type into the keyboard, are one of the most dangerous threats in cybersecurity. Cybercriminals use them for various purposes like identity theft.
Cybercriminals often employ software-based keyloggers that reside within your system and monitor your activity. They are capable of recording keystrokes, screenshots, and information copied to the clipboard. In some cases, they may even access location data or take advantage of microphone and camera inputs.
Keyloggers can often be part of a larger cyberattack that uses other types of malware to steal your personal information, such as ransomware and crypto mining. If you have a keylogger installed, it’s essential that it be removed immediately so that your details cannot be retrieved or sold on the black market.
Keyloggers come in two primary forms: hardware devices and software-based ones. Hardware keyloggers are usually small, inconspicuous devices that plug into a computer’s keyboard port or connect via cable to the CPU box of the PC.
Most people are unaware they have a keylogger installed on their device, but it’s an increasingly common security risk and should be taken seriously. The most effective way to guard yourself against this danger is practicing online safety and being wary when downloading files or applications from unknown sources.
Installing internet security software on all of your devices can also help detect and remove any malware that may have been infected.
No matter if you use a computer or mobile device, make sure to regularly upgrade your operating system and software products. Malicious keyloggers can often be part of more sophisticated cyberattacks, so making sure the software on both is up-to-date will help detect them accurately.
Keyloggers can be installed on your device by clicking an enticing ad or filling out a form that requests personal information such as usernames, passwords, and credit card numbers. They’re also widely spread through phishing emails that contain an attachment or link that appears legitimate.
If you believe your device to have a keylogger installed, contact the manufacturer promptly to have it removed. Under US laws, illegal installation of such software could result in jail time or fines if caught.
Are Your Online Activities Safe from Keyloggers?
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