Simply put, identity theft occurs when someone other than you uses your personal information. In almost all cases, this information will be used to commit fraud and other crimes.
A form of fraud, by sheer definition, identity thieves often use this information to create bank accounts, obtain credit cards and secure mobile phone contracts. With such systems in place, they can go on racking up charges, seemingly incurred by you, and not have to pay for it.
In some of the most extreme cases, it has been known for such criminals to obtain houses, cars and even yachts using such practices.
Identity theft comes in many forms of course, but is most often linked with the illegal use of information such as your name and address details, your social security number, credit card details and bank details.
It is estimated that nine million US citizens are victims of identity theft each year, though this number could be much, much higher according to experts in the industry.
