Drake Software blog for tax pros, covering tax, IRS news, and more

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 Drake Software Blog Team Frequently Asked Questions.

Related FAQs:

Drake Software Blog Team

The Drake Software Blog Team is proud to cover the latest in tax-industry-related news, from tax law and IRS updates to technology and business strategies. If you have questions about an article or just want to reach out to our staff, email comments@taxingsubjects.com.