Refers to the act of stealing someone's personal information, typically for fraudulent purposes. The expression is a noun phrase commonly used in news and legal contexts.
See also: 個人情報盗難 (こじんじょうほうとうなん)
Recently, identity theft has been increasing.
To prevent identity theft, please change your passwords regularly.
A shorter variant without the possessive の, used in the same meaning but slightly more compact and formal.
Compound of 個人情報 (personal information) + の (possessive particle) + 盗難 (theft). The phrase is a direct translation of the English term 'identity theft'.