Personal Information

Those pieces of data that, taken together, serve to both identify and to describe an individual are referred to as "personal information." Such data can be used for legal purposes such as securing identification cards like a driver's license or opening financial accounts or securing a line of credit. Key pieces of personal information include an individual's legal name, date and place of birth, and Social Security number.

Identity thefts begin their fraudulent activities by acquiring personal information. Once armed with sufficient information to serve as proof of identity, a thief can, with impunity, make credit purchases and access other benefits in the name of their victim. The resulting harm to the victim's credit rating and financial reputation can be catastrophic, causing not only indebtedness but hampering the victim's ability to find a domicile and earn a living. Such cases of ID theft may take months or years to erase. Safeguarding personal information is therefore considered a fundamental aspect of financial security. More Terms Explained