While the current economic conditions cause concern for most people, experts believe that scammers will take this as a chance to exploit the many opportunities created by the economic downturn. Identity theft cases could be on the rise.

Financial Scams – Take for example the banking crisis, ridden with folds, mergers and takeovers and the constant news coverage that keeps consumers on the alert. This gives scammers the opportunity to send out phishing e-mails claiming that personal account information is needed because of the many changes taking place in the banking sector. McAfee, the virus protection company began seeing phishing reports related to the crisis shortly after the failure and sale of Washington Mutual Bank in late September of 2008.

Job Scams – Thieves may also run their scams in the job sectors, with the numbers of companies folding under economic pressure and laying off so many workers. Identity thieves once again will phish for those unsuspecting victims who are hoping to get a call from a job recruiter, with the intention of simply getting the candidates to provide personal information.

Foreclosure/Mortgage Rescue Scams – The number of foreclosures will continue through 2009 and this is another area where scammers will continue to take advantage of desperate home owners who are trying to save their homes from repossession, especially if the home has retained some equity value. Scams in this area may come in the form of mail or even phone calls.

Phony IRS Scams – These scams will almost always occur in the form of email, since it is more difficult for scammers to use regular mail and too risky. The premise of the scam is always the same, you must follow links included in the email to update your records or to sort out a problem in which you owe back taxes. The phishing scams are always made to sound urgent and severe consequences are suggested if immediate action is  not taken.

Credit Debt Consolidation Scams – Once again due to the bad economy, some of us may be inclined to use our credit cards to get us out of tough times, but when the balances begin to grow and payments are not affordable anymore, you may consider consolidating your credit card balances. Many scammers are aware that these are often the opportunities that consumers seek in bad economic times to avoid the high interest rates, and may take the first step in contacting consumers about great consolidation offers that promise to repay their debt for pennies on the dollar.

Whatever approach the identity thieves take, please consider that if you did not request for the information you must proceed with care. Particularly if the offers come to you via email. For more information on email and other online security measures review our related articles.