What Are the Categories that Define Identity Theft?

There are six basic categories of identity theft:

1. New Account Fraud
2. Account Takeover Fraud
3. Criminal Identity Theft
4. Identity Cloning
5. Medical Identity Theft
6. Business or Commercial Identity Theft

There are others out there that will try to tell you the categories of identity theft are different than what’s above. They may state that there is “Insurance identity theft” but, that’s account takeover or new account fraud. They may also say there is “driver’s license identity theft” or “Social Security identity theft” but, these are either new account fraud or account takeover fraud. 

As I have witnessed throughout the many years I have worked with victims, each type of identity theft can have a devastating impact. Victims with whom I have worked with are taxpaying citizens who do the right thing, who work hard to earn honest livings. 

When their personal information was compromised, thieves opened up financial accounts in their victims’ names, and when these new accounts were opened, it affected the victims’ ability to rent an apartment, buy a car, or buy a home. When your good name is stolen and stained, you are thrown into a position where you are respon­sible for fixing it. 

This means you are delayed in getting the car, home, or apartment that you need. For those seeking employment, it also means you could lose the opportunity to get a job, because some employers check credit scores to learn more about prospective hires.

The most efficient way to protect your identity is with an identity theft protection service and get a credit 
freeze. 
Artical Source