Cybercriminals are diversifying their tactics and using stealthier methods to commit identity theft and fraud. As many as 1 in 10 people are victims of identity fraud annually, with 21% being victimized multiple times, according to an Internet Security Threat Report by Synmantec. 

Identity thieves can create a variety of financial and legal problems by using stolen information to open new accounts, make unauthorized purchases, file fraudulent tax returns, and more. 

In some cases, you may not be aware that you or your family member’s identity has been stolen until you’re contacted by a creditor or law enforcement agency. 

Erik Kaplan, CEO of THD Credit Consulting, shares five of the latest and most common identity theft tactics: 

1. Phishing and Social Engineering 

Cybercriminals often send deceptive emails, text messages, or make fraudulent phone calls with the goal of extracting personal information, including your passwords, credit card information, and Social Security numbers.

With the rise of AI technology, these messages can seem remarkably genuine. It’s always important to check for an official email address and err on the side of caution if you’re unsure about a message’s credibility.  

2. Skimming

By using a small device called a skimmer, thieves will steal credit or debit card information by placing the device on a card reader, such as an ATM, gas pump, or point-of-sale terminal. The data can then be used for unauthorized transactions or to create counterfeit cards. 

3. Unsecured Public Wi-Fi Networks 

Unsecured public Wi-Fi networks can expose your personal information to cybercriminals. Hackers can intercept data transmitted over these networks to access login credentials, credit card information, and other sensitive details. 

4. Data Breaches

News headlines reporting data breaches have become alarmingly common in recent years. Hackers often target organizations that store personal data, including names, financial details, and Social Security numbers.

5. Physically Stolen Information

In the digital age, we often forget that identity theft can occur offline, too. When wallets, purses, or documents containing personal information are lost or stolen, thieves can assume your identity and engage in fraudulent activity. 

Closing Thoughts

Identifying and recognizing the tactics used by identity thieves will empower you to properly safeguard your personal information and minimize the risk of falling prey to them. 

It's important to take immediate action to protect yourself and minimize any potential damage. If you believe that you believe you have been a victim of identity theft or need help repairing your credit, call Erik Kaplan at (800) 822-7120 or visit him online at https://thdcreditconsulting.com/