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:
“Motion or change, and identity or rest, are the first and second secrets of nature: Motion and Rest. The whole code of her laws may be written on the thumbnail, or the signet of a ring.”
—Ralph Waldo Emerson (1803–1882)
“Every gun that is made, every warship launched, every rocket fired, signifies, in the final sense, a theft from those who hunger and are not fed, those who are cold and are not clothed. The world in arms is not spending money alone. It is spending the sweat of its labourers, the genius of its scientists, the hopes of its children.”
—Dwight D. Eisenhower (1890–1969)