TD Banknorth, N.A.Skip to main content
      Search Tips
Investor Relations | About Us | Careers | Locations | Customer Service  

Identity Theft, Fraud and Phishing - What Are They?

   Identity Theft Protection | Featured Articles

You may hear the terms "identity theft," "fraud" and "phishing" mentioned more often these days. But what do they mean to you, and what can you do to combat them?

Let's start with what these terms mean:

  • Identity theft: Identity theft occurs when your personal information (anything from bank account numbers to your name and address) is stolen and the thief is able to use your information to commit fraud or theft, potentially damaging your credit record and good name in the process.
  • Fraud: Simply put, fraud is an intentional misrepresentation or concealment of information in order to deceive or mislead. The ultimate goal of the perpetrator is to get your money through illegal means. Unfortunately there are countless types of fraud and new methods are being devised every day.
  • Phishing: This relatively new type of online scam exploits both e-mail and the internet. By using a combination of spam e-mails and fake representations of legitimate corporate websites (a bank, credit card company, internet provider, etc.), the "phisher" is able to gain access to your most critical financial information (account numbers, PIN numbers, etc.). The phony e-mails are often urgent in nature, asking you to update or validate your information. Some even pretend to be protecting you against fraud or invoke national security as a way of pulling you in.
The most common examples of identity theft include credit card fraud, phone or utility fraud, bank fraud, employment-related fraud, government document or benefit fraud and loan fraud. Identity theft can be extremely damaging and victims can spend years and untold dollars trying to fix the mess made of their credit records and personal lives.

Fraud can happen in a variety of ways - online, via telephone, fax or through the mail. Some of the most common methods of fraud are related to:

  • Internet auctions
  • Shop-at-home and catalog sales
  • Internet services and computer products
  • Prizes, sweepstakes, and lotteries
  • Foreign money offers
  • Advance-fee loans and credit protection
  • Telephone services
  • Business opportunities and work-at-home plans
  • Magazine and buyers clubs
  • Office supplies and services

Return to Featured Articles page.