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What is identity fraud?

Identity fraud includes all types of crime in which someone wrongfully obtains and uses another person’s personal data in some way that involves fraud or deception, typically for economic gain. Identity theft is one type of identity fraud and is probably the most recognized form. Although identity theft is defined in many different ways, fundamentally, it is the misuse of another individual’s personal information to commit fraud. Identity theft occurs when someone uses your personally identifying information, like your name, Social Security number, or credit card number, without your permission to commit a crime. Identity fraud can take many forms, ranging from the use of someone’s good credit to obtain a loan to a complete takeover of another person’s identity to complete transactions to open new accounts, borrow funds, take control of an account including a credit card and withdraw funds.

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