Home > Our Products > How Can Spyware Be Used in Identity Theft?

How Can Spyware Be Used in Identity Theft?

Spyware is a potentially dangerous software that is installed on you computer without your knowledge. They are aptly named spywares because they spy on all the activities you do with your computer and relay that information to the hacker or the miscreant who caused the spyware to be installed on your computer or laptop.

How can Spyware be Installed in a Computer?

One of the easiest ways of installing a spyware is disguising it in some useful software such as a file format converter or similar software. When you install the software, the spyware will also get installed. Another way is through pop-ups. If you click on the pop-up, you will access the spyware link unknowingly and it will be downloaded to and installed on your computer.

Different Types of Spyware

There are two types of spyware: surveillance and advertising. Advertising spyware is the less dangerous of the two and will spy on your online habits, the sites you visit, how often you log in and other similar usage details and send it to the miscreant behind the spyware.

Surveillance spyware, on the other hand, has the ability to exactly record your user name and passwords, the URLs of the site you visit, redirect the web pages to links which are unsafe, download Trojan horses, and change some basic settings which can slow down the internet speed.

Identity Theft Using Spyware

Nowadays, all the financial transactions of people, from banking to shopping, take place online. So, you have an online identity where your credentials will be the user name, password and similar confidential details. If someone else is aware of your username and password, it is very easy for them to assume your identity and carry out the transactions in your name.

Take the example of an online bank account. The bank offers the whole range of facilities from making deposits to closing your account online. If miscreants get hold of your user name and password, then they can do anything they want with your bank account. There have been cases of people losing all the money, stocks, shares and every other financial resource because of this.

Online Shoppers are The Easy Targets

Let us assume that you shop for a new iPod on the internet using your credit card. All the details such as the CVV code and the secure password should be keyed in to complete the transaction. If a spyware is installed on your computer, it can record all these details and send it back to the miscreant who has installed the spyware on your computer.

From there, the job is easy. They can use your credit card number, your credentials and the access codes to shop for anything they want. You will not be aware of it until you get your next credit card statement. But by that time, the miscreant would have vanished into thin air. It can be difficult to trace an online trail, especially with the technology available today which. So, you need to make sure that your computer is spyware free if you want to shop without being tracked.

Using Your Identity for Wrongdoing

There have been cases of hackers using email accounts and IP addresses of unsuspecting people to obtain confidential information from the likes of Pentagon, Interpol, FBI, etc. Once the spyware gives them access to all your security credentials, there are software’s which help the miscreants in mimicking your IP address. Using this, they will steal classified information and vanish.

Once the investigators pick up a trail, it will lead to you. But you will not be aware of this. This is not exactly identity theft. But in the online world, the IP address is your identity and if someone else can use the same IP, there is no way for the investigators to ascertain if it was you or someone else who has wronged.

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