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The History of Identity Theft
Forget guns and violence. Being a criminal today is only a matter of getting
the right information without being discovered before you can use said information
to your advantage. That is how the identity theft process works.
Identity theft is a crime wherein a person obtains and uses another
person's personal data for purposes of fraud or deception. But the main purpose
is to gaining money and finances or goods and services using another person's
personal information.
Personal information being stolen ranges from names, birth dates, social
security number and driver’s license numbers. The most extreme and cruel
Identity theft is perpetrated when your financial identity such as credit card
numbers, bank account numbers and phone-card numbers, are stolen and used.
It can be noted that your personal information allows thieves to profit at your expense.
This is in contrast to your fingerprints that cannot be easily copied or
stolen. In many cases, victims are not even aware that their identity has
been stolen until maybe some months or years later.
The consequences of being an identity theft victim can be quite devastating.
You will be faced with the need to deal with bad credit accounts and trying to repair
your credit.
In the process, you not only need time to deal with the devastation created
by the identity thief, but also enough money to try and pay off the accumulated
debts. Most people just are not able to deal with this financial devastation, because
of course, they now are in a position of not being able to obtain credit, so they may even
be faced with bankruptcy.
While you are working on clearing your name, you can be denied jobs, loans,
education, housing, and transportation.
In worst case scenarios, you can even get arrested for crimes you did
not commit, such as fraud.
The traumatic experience of thousands of victims is that it often takes months, even
years, to recover.
According to the Federal Bureau of Investigation, identity theft is the fastest
growing crime in the US today. The fact that more and more people are reporting
cases of identity theft and how they have become victims can attest to these statistics.
In the year 2002, 10 million people became victims of this crime and an
estimated 27.3 million Americans have been reported to be victims of different
forms of identity theft during the past 5 years.
Even financial and business institutions are not spared. Billions of dollars
worth of losses have also been noted which can be attributed to identity
theft.
Identity theft is the number two most reported crime to the federal government.
These numbers are enough to make you consider identity theft as a serious
crime that is getting more and more rampant everyday. Ever since this kind
of crime had been noted in the early 1970’s, measures are being
taken to pass laws and protect Identity Theft Victims.
There are basically two forms of identity theft.
The first and most common is when someone uses your credit card information.
Your information could have been obtained if your credit card was lost or stolen.
It can also be because of careless handling by the employee of a company
where you used the credit card to make a purchase. Credit cards can be swiped twice,
and the cash pocketed, so make sure the card is swiped in front of your eyes,
not under the counter.
The second and more dangerous form of identity theft is when someone steals
your identity, and opens up credit card accounts, or cell phone accounts
in your name. They can also use your social security number when getting
a job or your driver’s license to get a duplicate copy.
The advancing technology of today does not help. Communications tools
over the Internet are allowing criminals to think up new schemes and strategies.
In addition to that, identity theft can be planned and executed more easily online.
All these thieves have to do is pay a fee to an information broker to get
an individual's Social Security number. Online databases also have in them
address information, while an individual's mother's maiden name can be found
in obituaries or other public documents. Obviously, bills are sent to a different
address so they will not get to you.
Understanding and having enough knowledge about identity theft can be your
prevention measure. Be alert and aware so you will not be among those who
have suffered the consequences of this crime.
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