Your identity is valuable to a fraudster
What is identity theft?
Identity theft is when a fraudster steals your personal information to impersonate you, open bank accounts, obtain credit or set up businesses.
Some details are obviously sensitive, like the password to your online banking however there are other details that fraudsters might want to find out too such as:
- Date of birth
- Full name
This is why you should always be cautious of what you publish on social media and check your privacy settings to ensure only people you trust are able to see what you share.
Your personal details need to be kept private. Personal information, like your full name and address, is what you use to prove who you are to banks and other financial companies.
How would a fraudster use my personal details?
Identity fraudsters can use your personal information to do things like:
- Withdraw money from your account
- Use money from your account to pay for goods and services
- Set up a credit card or store card in your name
- Apply for a loan in your name
- Apply for a mobile phone contract