What is Personally Identifiable Information?
Personally identifiable information (PII) is any sensitive private data that can be used to apply for entertainment subscriptions, financial services, and utilities. There is a remarkable amount of information crossover between credit card accounts and streaming subscriptions, which is why the Security Summit recommends taking steps to protect your PII when online.
Identity thieves can piece together a convincing PII profile using information stolen from a variety of sources, like phishing scams, Dark Web auctions, hacked databases, malware infections, and employee unauthorized access. They use this information to perpetuate financial fraud:
- Bank loan fraud
- Credit, debit, and payment card fraud
- Tax refund fraud
Phishing scams are one of the most common tactics used by identity thieves, so learning to identify and avoid these schemes is a cornerstone of protecting your personal and business finances.
Return to Taxing Subjects Frequently Asked Questions.