The old adage “know thy enemy” has never been more true than in the fight against identity theft.

Identity thieves come in all shapes and sizes, from all over the world, and from every kind of background. Some forms of identity theft are glaringly low-tech: pick-pocketing, stealing mail, and combing through trash for discarded personal tidbits.

But today we will focus on Hackers.

These criminals typically have a more far-ranging impact and use more high-tech methods. A clinical definition of hacking is: “the practice of modifying or altering computer software and hardware to accomplish a goal that is considered to be outside of the creator’s original objective.” Hackers use technology against us and reap the benefits.

Who is a Hacker?

Our picture of a hacker is constantly evolving.

The Art of Hacking has become as diverse as the content and technology that surrounds us.

Some hackers serve an important role in society: they professionally try to break encryptions at the request of technology managers to proactively test code for security weak links. Hack-a-thons are held all over the world to bring the brightest minds together to improve the quality of digital security, and in some cases – work for social good. The more rebellious of these “white hat” hackers are the “hacktivists,” who use their skills to improve security by exposing vulnerabilities before malicious hackers can detect and exploit them.

Though often portrayed as shadowy basement dwellers, “black hat” hackers – those with harmful motives and often seeking profit – hide in plain sight.

Hacking is now a well-recognized crime and the risks are elevated. If hackers are trying to steal data, they want to make sure the risk is worth the reward.

How & Why They Do It

Hacking tactics used to commit identity theft can range from simple to complex, but the motivation is always the same: steal sensitive personally identifiable information that can be used for financial gain

Becoming an identity theft hacker is relatively simple. There are nearly 4,000 hacking sites online that teach everything from basic skills to advanced techniques. If there is motivation to commit identity theft, there is a means. Hackers either launch their own attacks or can access a treasure trove of compromised data from the dark web.  Attacks can exploit an individual’s error or target the weakness of an entire network.

It’s true that in response to the growing threat of identity theft, encryption and data security technology are more sophisticated than they have ever been. The government, financial institutions, technology providers, and telecom companies are constantly evolving their efforts to stay ahead of the curve. But, strengthened cyber security alone is not enough.

As per NPCI, as many as 32 lakh debit cards belonging to various Indian banks were compromised earlier in 2016 resulting in the loss of Rs 1.3 crore in fraudulent transactions.

Stealing an identity is a longer-term proposition than the short term “spending spree” that would typically come with a credit card number alone.

Often hackers begin with one data point gained from an attack and then search public records and social media to form a victim’s profile. With a handful of data, a hacker can access bank accounts, take out new loans, file for tax returns, and even make medical claims. Hackers access a wide variety of networks to collect intelligence.

Stopping the Hack

One of the best ways to stay ahead of hackers is by being proactive.

• Don’t share sensitive information on unsecured networks and be sure to change your passwords often.
• Use tools to monitor for malicious programs that can be surreptitiously installed on PCs and transmit personal data back to thieves.
• Also, remember to update software regularly to ensure that all security gaps are patched.