Identity Theft
The first form of credit card hijacking is basically identity theft, which is the deliberate assumption of another person's identity. Identity theft is usually the result of serious breaches of privacy and often involves the victim compromising a great deal of financial and personal information allowing the thief to charge an existing credit card account or open up new credit card accounts in the name of the victim. Traditionally, methods of identity theft for credit card hijacking have involved mail interception or skimming of credit card data. As online transaction volumes increase, new methods for hijacking identities for credit card fraud include phishing and the use of spyware and botnets.
Read more about this topic: Credit Card Hijacking
Famous quotes containing the words identity and/or theft:
“I look for the new Teacher that shall follow so far those shining laws that he shall see them come full circle; shall see their rounding complete grace; shall see the world to be the mirror of the soul; shall see the identity of the law of gravitation with purity of the heart; and shall show that the Ought, that Duty, is one thing with Science, with Beauty, and with Joy.”
—Ralph Waldo Emerson (1803–1882)
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—Dwight D. Eisenhower (1890–1969)