MERIT Solutions Blog

MERIT Solutions has been serving the Chesapeake area since 1982, providing IT Support such as technical helpdesk support, computer support, and consulting to small and medium-sized businesses.

Credit Card Theft and Identity Theft are Not the Same Thing

Credit Card Theft and Identity Theft are Not the Same Thing

While many might see having a credit card stolen as identity theft, this is an oversimplification that can prove dangerous. While credit card theft can be an element of identity theft, equating the two means that other forms of identity theft are overlooked. In today’s blog, we’ll go over why identity theft and credit card theft aren’t exactly the same thing, and what you can do to help keep your business safe from damage.

Defining Crimes
As we mentioned, while credit card theft and identity theft are related to one another, they aren’t terms that should be used interchangeably. Rather, credit card theft is just one of many kinds of identity theft. Think of it this way: cars, trucks, and SUVs are all types of motor vehicle. In this example, credit card theft is the car, while identity theft is represented by all varieties of motor vehicle--including trucks and SUVs.

Summed up, credit card theft is what happens when someone is able to access your account and make purchases without your permission. While this isn’t the only form of identity theft, it is certainly a prevalent one. A 2015 report from the Bureau of Justice Statistics, a section of the U.S. Department of Justice, states that 8.6 million Americans of age 16 or older were victimized in 2014 alone, out of a total of 17.6 million affected by identity theft.

Identity theft is a blanket term for criminal activity that falls into one of three categories:

  • Fraud or misuse of an existing account -- This kind of identity theft is the most common, with 16.4 million of 2014’s 17.6 million victims being targeted by this variety of identity theft. When a thief obtains access to an account of yours--through a credit card, for example--and uses it to their own ends, or passes bad checks through it, it falls under this category.
  • Fraud or misuse of a new account -- If a criminal obtains your personal information and uses it to open an account in your name, you are made a victim of this kind of identity theft. This kind of identity theft can range from relatively small, like opening a line of credit or a checking account, to large, like applying for a fraudulent mortgage on a house. This was reported about 1.1 million times in 2014.
  • Fraud or misuse of personal information -- All other uses of stolen personal information or data fall under this category, which held 713,000 of 2014’s reported cases. In this form of identity theft, someone improperly uses your information for their benefit. This may be to find employment, rent property, see a doctor or even to lie to the authorities.

Protecting Yourself (and Your Clients and Employees) from Identity Theft
Of course, you’ve probably already considered how much personal or otherwise sensitive data you have stored on your business network. There’s your business’ financial data, with employee information if they are paid through direct deposit bundled in there. Additionally, if any of your clients have financial data on file, that certainly counts as well. This also includes any non-financial records your business may keep on your clients.

In short, you have plenty of data that needs to be protected, including credit card and other personally identifiable information. MERIT Solutions can help you keep it safe. Call us at (757) 420-5150 for more information. your social media marketing partner


No comments made yet. Be the first to submit a comment
Already Registered? Login Here
Tuesday, 16 January 2018

Captcha Image

Tag Cloud

Security Tip of the Week Technology Cloud Privacy Best Practices Business Computing Hackers Network Security Software Malware Hosted Solutions Backup google Internet Productivity Disaster Recovery Computer Microsoft Managed IT Services Business Continuity IT Support Windows 10 Mobile Devices VoIP User Tips Business Outsourced IT Hardware communications Innovation IT Services Email Business Management Productivity Mobility Windows Data Backup Managed IT Cybersecurity Server Ransomware Efficiency Smartphone Cybercrime Mobile Device Management Telephone Systems Small Business Data Recovery Apps Save Money Saving Money Virtualization browser Law Enforcement Hosted Solution Operating System Quick Tips Android BYOD Passwords Data BDR Money Password Office 365 Holiday Information Technology Chrome Recovery Microsoft Office VPN Government Hacking Google Drive Work/Life Balance Avoiding Downtime Alert Health Miscellaneous Managed Service Provider Gadgets Computers Social Media upgrade Social Wireless Phishing Budget Smartphones Data Management App Communication Unsupported Software Cloud Computing Facebook Shortcut Automation Telephony Wi-Fi Firewall Application Collaboration IT Support Current Events Workplace Tips Private Cloud Audit Office tips Applications History Personal Information Proactive IT Windows 10 Best Practice Politics Two-factor Authentication Vulnerability The Internet of Things USB Save Time Managed IT Services search Risk Management Identity Theft User Error Wireless Technology Data Security Google Docs Cost Management iPhone Gmail Mobile Computing SaaS Data Protection Transportation Update Antivirus Samsung Redundancy Content Filtering IT solutions Robot Battery Commerce HaaS DDoS End of Support Remote Computing Compliance Cortana Television Internet of Things Automobile Social Engineering Streaming Media Apple Disaster Spam Humor Saving Time Cleaning Excel WiFi Employer-Employee Relationship Office Phone System Data Storage Going Green Computer Care Bandwidth OneNote Network Sports Data Breach Users Encryption Hacker Internet Exlporer Solid State Drive Artificial Intelligence Flexibility Marketing Updates Licensing Managing Stress WannaCry server installation dvd "cannot install required files" Conferencing Books HBO Scalability Webinar stock Microsoft Word Hiring/Firing Mobile PDF Education Router Vendor Management Microsoft Excel Gifts How To IT solutions tweet Benefits Professional Services Text Messaging calculator File Sharing Unified Threat Management IT Management Maintenance Windows 10s Twitter control Travel Nanotechnology Entertainment Training Storage Upgrades Credit Cards Electronic Medical Records WIndows Server 2008 Hard Disk Drive WSJ Uninterrupted Power Supply Exchange Tablets Point of Sale Root Cause Analysis Laptop HIPAA Distributed Denial of Service altivista Company Culture Consultant FAQ Patch Management Black Market SBS Smart Technology NFL Augmented Reality Touchpad Business Intelligence Reputation Avoid Downtime Touchscreen compaq Value Lifestyle Charger Outlook Advertising Shadow IT Wearable Technology Word Document Management Experience Managed IT Service hp Legislation Wireless Charging iOS Data storage domain Windows Ink Comparison Administration Video Games Chromecast Evernote Regulation Virtual Reality Computer Fan remote Scam Google Maps Specifications Music Screen Mirroring Colocation Legal eWaste Yahoo Tech Support Networking Sync Hard Drives Dark Web Meetings Running Cable Files Server 2008 Employer Employee Relationship Software as a Service Sales Analytics Cast Emails Administrator Ali Rowghani Lithium-ion battery Workers Keyboard Adobe Instant Messaging Trending Worker Commute Settings Computer Accessories Data Loss Mobile Device Retail Big Data Relocation Access Cache Thank You Monitors Remote Monitoring Congratulations Safety Emergency CrashOverride Worker

Mobile? Grab this Article!

QR-Code dieser Seite

Recent Comments

Anna Jackson 5 SEO Tools To Get a Google-Eye View of Your Website
15 September 2017
Hello Randall! I was doing very important work but due to your subject I felt better to stay at you...
David Miller Not all project-management tools are right for all businesses
25 August 2017
All the points depicted by you in this blog is v.apt. I love the title of this blog because it says ...