Identity Theft 101

It's not just credit card fraud anymore. Modern identity theft has evolved to far more than a quick five hundred bucks. Modern identity theft is now about elaborate long-term capers that achieve massive payoffs, with the unpaid bills getting dumped in your lap. Using your birthdate, social security number, drivers license and bank information, modern identity thieves will take vacations, get themselves jobs, setup phone and utility accounts, or even sneak illegal immigrants into the country. It's frightening how patiently and slowly these identity thieves will work, and how much they can achieve. Jerry Ledford explains how modern identity theft works... (photo by Blend Images / Getty Images)