How Scammers use Information Harvested from Phishing Scams

Scammers are able to use information stolen from victims in a variety of ways. They may:

• Take over the victim's account.
  After the scammers have harvested information such as passwords, user names and account numbers, they are able to directly access the victim's account. They can then transfer funds to other accounts, conduct transactions, issue cheques in the victim's name and generally manipulate the account in the same way that the legitimate owner could. They can also change the account password so that the victim is locked out of his or her account.
  
• Use the victim's credit card details
  If the scammers have stolen credit card details, they can then use these details to make purchases that will be charged to the victim's account.
  
• Steal the victim's identity.
  If the scammers have gained enough personal information from their victim, they may be able to steal his or her identity. They can then commit a variety of fraudulent and other criminal activities in the victim's name. Identity theft can have very serious and long-term repercussions. Identity theft victims can spend months or years trying to clear their name, sort out legal issues, recover from debt and repair damaged credit ratings.