In many countries, a financial crime involving identity theft is increasing. What are the causes of this trend, and what effects does it identity theft has on the victims involved?

Nowadays,

economical

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economic

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crimes are increasing rapidly across the globe. Financial crimes involving

identity

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theft

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are growing

among

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in

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many countries.

This

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essay will discuss the major causes of

this

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situation and the effects on the

victims

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involved. To commence, the main causes of

identity

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theft

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are

data

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breach

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breaches

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and phishing.

Firstly

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, stealing personal

data

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is one of the major

source

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sources

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of

this

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problem.People who leave their computers and mobiles unlocked are more prone to

this

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type of breach.

For example

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, stolen Social insurance numbers are misused for

applying

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applying for

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credit from banks.

Secondly

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, individuals receiving phishing emails working in

the

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apply

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information technology companies are

also

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affected by

this

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situation. Users who are opening those emails will be affected by

data

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hacking.

For instance

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, hackers will use your

data

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in

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on

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the computer for various illegal purposes

such

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as selling that

data

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to

anti social

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anti-social

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elements. The major effects that

identity

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theft

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has on the

victims

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involved are becoming bank defaulters and unemployed.

Although

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the criminals steal lots of

data

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, sensitive information

such

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as social insurance numbers are utilized for illegal purposes. They use

this

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data

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for

applying

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applying for

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false loans and skip to repay them. To illustrate, providing the

victim

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victim's

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social numbers to the bank and default

while

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paying the instalments.

In addition

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, citizens who are affected by personal information

theft

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lost

jobs

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their jobs

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since they violated

the

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apply

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company regulations. To give a clear example, employees who are

victims

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lost jobs

due to

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loosing

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losing

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valuable

data

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of the company after the

data

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robbery.

To conclude

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, financial crimes related to

data

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robbery are climbing day by day around the world.

This

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essay has discussed two major causes of

identity

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theft

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and the effects on the

victims

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who are involved in

this

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crime.