Identity Theft - 1365 Words

The Dangers of Identity Theft Sharae Ernst IFSM 201 – Summer 2012 8/3/2012 â€Å"Identity theft occurs when someone uses your personally identifying information (PII), like your name, Social Security number, or credit card number, without your permission, to commit fraud or other crimes.† (Fighting Back Against Identity Theft: Federal Trade Commission). According to the Federal Trade Commission, identity theft complaints have decreased since year 2008 (314,521 to 250,854). It is estimated by the FTC that as many as 9 million Americans have their identities stolen each year. As information technology progresses along with society, there is always an increased risk of having one’s identity stolen. â€Å"Identity theft was the number one†¦show more content†¦They use all of this information to impersonate their victims, usually in a short amount of time before being noticed. It is best to not use a debit card to make purchases in this day and age, since a victim will most likely be responsible for the total amount of the loss depending on how quickly they report the loss to the financial institution. In addition, their checking accounts are usually depleted completely. â€Å"Generally, victims of credit card fraud are liable for no more than the first $50 of the loss. (Truth in Lending Act, Fair Credit Billing Act, 15 USC sec. 1601) In most cases, the victim will not be required to pay any part of the loss.† (Coping with Identity Theft: Reducing the Risk of Fraud, 2012). Due to the common occurrence of identity theft, it is imperative to find ways to prevent having one’s identity stolen. One of the most important and best ways to avoid this unfortunate incident is to obtain a copy of one’s credit report from one or all three of the credit bureaus, preferably on a regular basis. There are several ways to do this, some of them free of charge. In addition, a person’s financial institution may offer an unlimited amount of credit report checks for a monthly fee. This is useful for an individual to notice if there are any unauthorized activities taking place.Show MoreRelatedIdentity Theft993 Words   |  4 Pagesridiculous amount of money needed to be paid that you never spent? This is because of identity theft. The FTC estimates that each year, over 9 million people are affected by identity theft. According to Sally Driscoll, this is because almost anyone with a computer and a slight bit of computer knowledge can pull off identit y theft. Experts also claim that identity theft is the fastest-growing crime in the world. Identity theft is a global problem that cannot be stopped without effective measures. The problemRead MoreIdentity Theft964 Words   |  4 PagesRasmussen College | Identity Theft | The long term issue | | Caden Ross | 2/17/2013 | Authors Note: This research is for Professor Rob Paixao B234/BUL2241 Section 01 Business Law Course written by Caden Ross on 02/17/2013. | Jeffrey Gerald Jackson, otherwise known as Troy Lee Evans, was arrested on September 4,2012 for identity theft. Mr. Jackson used the identity of Troy Lee Evans to gain employment at Credit Concepts Inc. Mr. Jackson had worked at Credit Concepts Inc. underRead MoreIdentification Theft And Identity Theft947 Words   |  4 PagesOur identity is what makes us unique. It is the individual character or personality of an individual, and when a person is a victim of identity theft, it is this distinct characteristic that is stolen Therefore the victims of identity theft often feel a deep sense of violation as they struggle to reclaim their good names. The government must implement better regulations to help put an end to this crime which is affecting millions of innocent Americans. Until then there are three important waysRead MoreIdentity Theft3413 Words   |  14 PagesIdentity Theft + Fraud= Identity Crime 20 December 2007 There is a thief that lurks around us everyday; this thief can attack in brad day light or in the darkest hour, and just about anywhere you may find yourself. This thief has the power to act in your name, make unlimited purchases, open up credit accounts and ruin your good name and credit all in the matter of seconds; if you are vulnerable enough, you might become his next victim. In many cases all he needs is your name and a social securityRead MoreEssay on Identity Theft895 Words   |  4 PagesIdentity Theft This paper will cover the topic of identity theft via the internet, phone and several other schemes. It will identify various ways in which your identity is stolen and ways which you can safeguard yourself from being victimized. I will also report what the Department of Justice is doing and the penalties associated with these crimes. nbsp;nbsp;nbsp;nbsp;nbsp;Identity fraud is use of a persons name, social security number or other personal identifying information. Once armedRead MoreOnline Identity Theft1414 Words   |  6 PagesOnline Identity Theft What is identity? The word itself can have so many connotations, definitions, and subjects tied to it. However, the most basic definition of our identity would be the qualities, beliefs, and baggage that make up each person. An identity is something that each of us have a claim to from the moment we are born to even past our death. Through the recent technology surges however, our most basic claim is now threatened. We have all heard about crime on the streets but with theRead MoreIdentity Theft (Body)2176 Words   |  9 Pagesâ€Å"unneeded† documents. Three months later, when Bob was applying for a car loan, he found that his credit history had been destroyed. He was a victim of identity theft, a crime that often causes people debt, unjustified imprisonment, and murder, being one of the most dangerous, yet easiest, crimes to commit. Identity theft includes other types of fraud and identity related crimes. It is said that today’s society is now living in â€Å"The Age of Betrayal.† Since an incident with a busboy in Brooklyn, noRead More Identity Theft Essay966 Words   |  4 Pagespersonal information is safe on the internet. This is not to say that if you log online your identity will be stolen; however, there are some necessary things to learn to protect yourself. The purpose of my project is to help make people aware of these dangers on the internet and how to protect themselves to the best of their abilities. I chose to focus on â€Å"phishing† a new kind of internet theft where millions of e-mails are sent out to vulnerable consumers. This is a serious dangerRead More Identity Theft Essay2149 Words   |  9 PagesIdentity Theft Law enforcement officials have stated that identity theft crime has been one of the fastest growing crimes in the United States. Identity theft is also one of the fastest growing white collar crimes. This is a serious crime. Identity theft is the act of knowingly transferring or using without lawful authority, a means of identification of another person with the intent to commit, or to aid or abet, any unlawful activity that constitutes a violation of federal law, or that constitutesRead MoreIdentity Theft Essay1833 Words   |  8 PagesIdentity Theft What is identity theft? By definition â€Å"Identity theft n. the dishonest acquisition of personal information in order to perpetrate fraud, typically by obtaining credit, loans, etc., in someone elses name; fraud perpetrated in this way. † (dictionary.oed.com, 2007). It’s estimated that 9 million Americans have had their identities stolen each year. â€Å"According to the Secret Service, its investigations show a jump in potential losses due to identity theft, from $851