The Internet has become one of the most important elements of the modern world. As Internet use becomes more and more pervasive, so do Internet-based crimes. Cybercrime can include identity theft, information theft, hacking, phishing, fraud, and more. Hacking and other types of cybercrimes are looked upon by some people as little more than a recreational activity. A number of television shows and movies have glamorized certain forms of cybercrime while downplaying the severity of these offenses. To be clear, identity theft and other types of Internet crimes are serious criminal offenses that are punishable by harsh fines and substantial jail time in Illinois.
Financial Identity Theft Versus Criminal Identity Theft
Financial identity theft occurs when an individual illegally acquires another party’s financial information and uses it to make withdrawals from the victim’s bank account, open credit card accounts in the victim’s name, apply for loans, make unauthorized purchases, and more. There are countless ways that this type of identity theft can happen. For example, financial identity theft may occur when the alleged offender finds the victim’s credit card details discarded in the trash and then uses the data to make purchases online. Data breaches may allow people’s bank account information and PIN numbers to be released online and available to the public. More recently, devices called credit card skimmers are being used to steal the information contained in a credit or debit card’s magnetic strip.
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