Identity theft happens when someone steals another person\u2019s personal information, like their name, Social Security number, or bank account details, to commit fraud.
Example: A fraudster uses stolen personal details to open a credit card account in someone else’s name.<\/p>\n\n\n\n
2. Credit Card Fraud<\/strong> 3. Cyber Fraud<\/strong> 4. Insurance Fraud<\/strong> 5. Tax Fraud<\/strong>
This occurs when someone uses another person\u2019s credit card or credit card information without permission to make purchases or withdraw money.
Example: A thief steals your card or hacks an online payment system to use your card information.<\/p>\n\n\n\n
Cyber fraud involves using the internet to deceive people or steal money.
Example: Phishing emails tricking users into sharing their login details or ransomware locking a person\u2019s computer until money is paid.<\/p>\n\n\n\n
Insurance fraud happens when someone provides false information to claim insurance benefits.
Example: A person stages a fake car accident to claim money from their insurance company.<\/p>\n\n\n\n
This occurs when someone lies on their tax return or doesn\u2019t file taxes to avoid paying what they owe.
Example: Reporting less income than earned to reduce tax payments.<\/p>\n\n\n\n
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