Reference no: EM133294262

Question

Tim Jones has a long history of engaging in fraud. Most recently, he lost his job and gained a criminal conviction when it was discovered that he had been embezzling funds from his employer. In need of funds, Tim decided that he will engage in identify fraud to make some quick money.

To achieve this end, Tim has recently acquired a vast quantity of personal information (e.g, addresses, credit cards, telephone numbers, tax file numbers, etc.) from hackers on the Dark Web. Tim is unsure whether the personal information is correct and so he decides to telephone one individual whose personal information he had obtained from the Dark Web. During the phone call, he pretended to be the victim's banking institution and the victim unwittingly confirms this information is correct. What phase of identity theft is being describe here? In your own words, briefly explain this phase of identity theft.