What term describes the act of acquiring personal details by individuals for fraudulent purposes?

The term that describes the act of acquiring personal details by individuals for fraudulent purposes is identity theft. This involves someone stealing personal information, such as Social Security numbers, bank account details, or credit card information, typically to commit fraud. Identity theft can lead to significant financial loss and can severely impact the victim's credit score and reputational standing.

The understanding of identity theft encompasses various methods through which criminals may access sensitive data, including phishing scams, hacking, or even the simple theft of physical documents. Recognizing this term is crucial in the context of cybersecurity and personal finance, as it highlights the importance of protecting personal information from malicious actors.

While other terms like data breach or privacy invasion deal with unauthorized access to data, they do not specifically denote the fraudulent use of the acquired information for personal gain, which is the core aspect of identity theft.