Identity theft is when someone steals and uses another person’s personal information, like their name and financial details, to commit fraud or trick others, usually to make money.
Risks
- Financial loss – Fraudsters can drain bank accounts, rack up credit card charges, or transfer money without permission
- Damaged credit score – Unauthorised borrowing in a person’s name harms their credit rating, affecting their ability to get loans or mortgages
- Unauthorised accounts – Criminals may open new credit cards, take out loans, or sign up for services using a person’s identity
- Account takeovers – Email, social media, or online banking accounts can be compromised, giving attackers access to personal data and further accounts, and giving the attacker an ability to pose as the victim
- Legal complications – Victims may be held liable for debts or crimes committed in their name, requiring time and legal costs to clear their debt, obligation or reputation
- Tax fraud – Thieves can file false tax returns using a person’s National Insurance number to claim refunds or benefits
- Medical fraud – A person’s identity could be used to obtain prescriptions, treatments, or equipment, affecting their medical records
- Time and stress – Resolving identity theft can take months or years, involving countless calls to creditors, banks, and agencies
- Long-term consequences – Even after resolution, victims may face ongoing issues accessing credit or services
- Emotional impact – Victims often experience anxiety, frustration, and loss of trust in institutions and services