Common Identity Theft Scams

Identity theft is a growing problem, not just in the U.S. but throughout the world. While some thieves get access to your identification information through brute force – hacking your computer or breaking into online databases – the most common methods of identity theft are through “social engineering”. That’s just a fancy term for tricking people into giving out access to credit card accounts, bank accounts or sensitive ID information. One of the most potent defenses against identity theft is recognizing and understanding common identity theft scams so that you’re not caught by them.

Phishing is probably the most common email identity scam in use. The identity thief sets up a web site that looks just like a bank, credit card or other web site that accepts credit cards. They then send out thousands of spam emails that inform “customers” that there is a problem with their account. The email instructs you to click on a link in order to fix the problem or restore access to your account. If you click the link, you’ll be taken to the fake site and prompted to enter your user name and security details. Instead of fixing the non-existent problem with your account, you’ve just handed the identity thief access to your money.

You’ve won the lottery scams are a growing identity theft scam. You receive an email telling you that your email has been selected as the winner of some lottery you’ve never entered. In order for your prize to be delivered, you’re directed to send specific information to the lottery headquarters. The information often includes a bank account number, social security number and telephone number, as well as your address and full name. With that information, the thieves can easily apply for credit cards in your name, or gain access to your bank account.

The Nigerian scam has been around for nearly a decade, and it has spawned a number of variations. You receive an email from a stranger asking for your help to get a large sum of money out of their country. In return for your assistance, the sender will share part of the money with you. The aim, of course, is to get access to either your bank account or your personal details so that the thieves can open accounts in your name.

Not all identity scams are run through email or online, of course. Always be suspicious of unsolicited telephone calls that purport to be from your bank or credit card company, and never give out your social security number or account number to anyone that contacts you without proper credentials.