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:
“The modern world needs people with a complex identity who are intellectually autonomous and prepared to cope with uncertainty; who are able to tolerate ambiguity and not be driven by fear into a rigid, single-solution approach to problems, who are rational, foresightful and who look for facts; who can draw inferences and can control their behavior in the light of foreseen consequences, who are altruistic and enjoy doing for others, and who understand social forces and trends.”
—Robert Havighurst (20th century)
“The childless experts on child raising also bring tears of laughter to my eyes when they say, “I love children because they’re so honest.” There is not an agent in the CIA or the KGB who knows how to conceal the theft of food, how to fake being asleep, or how to forge a parent’s signature like a child.”
—Bill Cosby (20th century)