Consumers can never let down their guard when it comes to protecting their identities. The variety of identity fraud scams seems to keep growing.
“Amazingly, identity theft and subsequent identity fraud flourish in a virtual digital space where criminal impostors can use any sort of manipulation to influence the consumer,” says John Buzzard, lead analyst, fraud and security, at Javelin Strategy & Research.
7 common ID theft scams
Here is a sampling of common ways scammers steal identities and use them for gain, usually of a financial nature.
1. The gift card grift
Gift cards are a fraudster’s favorite payment method. Since 2018, consumers have lost nearly $245 million to gift card scams, with a median loss per person of $840, according to the Federal Trade Commission.
There are many scams involving gift cards. One common trick identity thieves use is the fake giveaway.
You get a text or email from a well-known store or organization saying you’ve won a gift card. But to collect the gift card, you must provide more contact information, click on a website or take a short survey that asks questions about your finances or other personally sensitive details.
The thief steals your identity, rips you off and could also sell your data on the dark web, which compounds the problem.
2. Fake emails
“Phishing” emails look as if they come from a legitimate source like your bank, a retailer or government agency. Phishing emails often contain dangerous software called malware that can…
