Identity theft is a form of nontechnical social engineering attack in which the attacker steals the targets identity by using their name, sex, home address, Social Security Number, and so on.
Attackers steal social identity by getting their hands on the targets identity documents such as their driver's license or PAN card.
Identity theft can be performed for any of the following purposes:
To engage in criminal activity, hiding behind the targets identity
For an online attack or cyber warfare against an organization
Monetary gains from utilizing social security benefits
Opening a new bank account
Getting a credit card with the targets name