Causes Of Identity Theft

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Identity theft is a form of theft when someone assumes another individual’s identity. It is often done so as a modus operandi to gain access to personal information or other benefits from the victim’s name. There are five types of identity theft according to wikipedia which include criminal identity theft, financial identity theft, identity cloning, medical identity theft and child identity theft. The most common type of identity theft is financial identity theft, where someone gains financial access to someone else’s by assuming his/her identity .
According to Wikipedia criminal identity theft is :
When a criminal fraudulently identifies himself to police as another individual at the point of arrest, it is sometimes referred to as "Criminal
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Identity theft is a major crime in Malaysia costing millions of ringgit. Your identity might be stolen for someone to commit financial fraud and other criminal activities involving car and housing loans, credit card transactions, mobile phone bills, property deals and company registrations. Many have fallen prey to fraudsters using their identities. Loss of identity,loads of trouble. It was as if someone had slapped him smack in the face. The stunned businessman looked with eyes wide open at the bank officer. "It’s not me," he cried, recovering his composure. The officer told him that police records showed he was a convict. In fact, he was told, he had served seven years in jail. Someone had stolen his identity, been arrested for a crime and served a jail term. Now, he had been blacklisted by banks. A trader and his fiancee went to the civil registry to apply for their marriage to be registered. They were told he was already married. He was shocked. His fiancee and her family walked out. Someone had stolen his identity and got married using his name. Last July, lorry driver Nasir Yusof received a letter from a finance company, urging him to settle the overdue loan instalment on his car. He met the company’s officials, denying he had ever taken a loan, but they were adamant. Someone had stolen Nasir’s identity and is driving around in a Proton bought with a loan taken under his name. He too has been blacklisted by banks. It is…show more content…
A new venture, founded by Hector Hoyos, Hoyos Labs is making itself out to be a competent crusader in the war on passwords. Having already developed an end-to-end solution for identity authentication, Hoyos Labs is leveraging biometrics and mobile devices as part of a scalable solution. Two notable pieces of the Hoyos Labs equation are its focus on liveness detection and its self-describes biometrics agnosticism. The liveness detection will address issues made apparent by the aforementioned Touch ID spoofing earlier this year, a much needed ingredient for a fraudless world. Biometric agnosticism is also important: even though Hoyos will be providing his own biometric solutions to provide the front end authentication, the back end can pair with any other biometric technology already on the market. As the CEO of Hoyos Labs, Hector Hoyos christened the company, stating its mission:“When participating in any form of online activity, from accessing social media channels to conducting financial transactions, people are extremely vulnerable to hacking and identity theft due to the flimsy nature of usernames, log-ins and passwords. At Hoyos Labs, we are fusing our digital infrastructure security solutions and our biometric identification technologies into consumer- and corporate-ready solutions that can be deployed on devices like mobile phones. This solution will provide benefits for consumers, as well as companies, and will lower and ultimately eradicate fraud

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