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:
“Unlike Boswell, whose Journals record a long and unrewarded search for a self, Johnson possessed a formidable one. His life in London—he arrived twenty-five years earlier than Boswell—turned out to be a long defense of the values of Augustan humanism against the pressures of other possibilities. In contrast to Boswell, Johnson possesses an identity not because he has gone in search of one, but because of his allegiance to a set of assumptions that he regards as objectively true.”
—Jeffrey Hart (b. 1930)
“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)