They Want Your Identity

They Want Your Identity

Besides stealing your money for a short-term monetary gain, the criminals want long-term profits by stealing your identity.

As medical costs rise, medical identity theft is also on the rise. The identity thieves can steal your medical insurance and use your medical benefits for themselves, and these medical procedures are now in your medical records.

The annual tax filing procedures may vary from country to country, however, cybercriminals see this time as an opportunity. For example, the people of the United States need to file their taxes by April 15 of each year. The Internal Revenue Service (IRS) does not check the tax return against the information from the employer until July. An identity thief can file a fake tax return and collect the refund. The legitimate filers will notice when their returns are rejected by IRS. With the stolen identity, they can also open credit card accounts and run up debts in your name. This will cause damage to your credit rating and make it more difficult for you to obtain loans.

Personal credentials can also lead to corporate data and government data access.

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