Identity Theft

Identity Theft

With the public emergence and worldwide explosion of the internet, Identity theft has become one of the most rapidly increasing crimes. What was once a personal crime requiring criminals to have some form of contact with the victim, if nothing more than rummaging through the trash, can now be done from as close as next door or as far away as across the world. No one is exempt from the possibility that they could be a victim. Identity theft has advanced so rapidly that government and law enforcement agencies have not been able to keep up with new legislature. Many states still do not view Identity theft as a crime. It is the victim who has to prove fraud exists. The judicial system that currently exists in this country states that any one accused of a crime is innocent until proven guilty. This is not the case with Identity theft. These people are considered guilty until such time as they can prove their innocence.

One of the problems encountered in the ongoing battle against Identity theft is that at this time no standard definition currently exists. Identity is defined by Merriam Webster on-line as the distinguishing character or personality of an individual identification; the condition of being the same with something described or asserted. ie establish the identity of stolen goods. Meriam Webster on-line also defines Theft as: the act of stealing; specifically : the felonious taking and removing of personal property with intent to deprive the rightful owner of it. The best explanation of Identity theft was by one web site which defines it as:

Identity theft involves acquiring key pieces of someone's identifying information in order to impersonate them and commit various crimes in that person's name. Besides basic information like name, address and telephone number, identity thieves look for social insurance numbers, driver's license numbers, credit card and/or bank account numbers, as well as bank cards, telephone calling cards, birth certificates or passports. This information enables the identity thief to commit numerous forms of fraud: to go on spending sprees under the victim's name, to take over the victim's financial accounts, open new accounts, divert the victim's financial mail to the thief's address, apply for loans, credit cards, social benefits, rent apartments, establish services with utility companies, and more.

An examples of Identity Fraud could consist of the selling of your name, address, Social Security number and other identifying information, including driver's license number, ATM number and other key pieces of an individual's identity. Then, the information could be sold by dishonest employees of retail stores, hotels, restaurants, credit bureau, mail order houses and even financial institutions and government agencies. The result could be a flood of solicitation mail from catalog retailers, insurance marketers and credit card companies. Also, crooks will watch for junk mail offering low rate credit cards. They will lift the solicitations from your mailbox, business, or trashcan and apply in your name, but write in a different address. The credit card and all subsequent statements would go to the other address. You would never know what hit you until you get the first intruding phone call. Another example of Identity Fraud is Somebody obtaining your credit information and then using it to get a host of high limited credit cards. The identity thief will masquerade as you and open fraudulent accounts in your name, change the address on your credit card and take over accounts you already have. He/she will run up huge bills and leave you with the mess. The thief will spend as much money as possible in as short a time as possible before moving on to someone else's name and account information. Victims will have been left with a damaged reputation, bad credit reports and could spend months or even years trying to regain their financial health.

Stealing wallets used to be the best way identity thieves obtained credit card numbers and other pieces of identification. Now more sophisticated means are commonly used: accessing your credit report fraudulently, for example, by posing as an employer, loan officer or landlord and ordering a copy; "shoulder surfing" at ATM machines and phone booths in order to capture PIN numbers; stealing mail from mailboxes to obtain newly issued credit cards, bank and credit card statements, pre-approved credit offers, or tax information; "dumpster diving" in trash bins for unshredded credit card and loan applications. In today's networked, computer-driven society, criminals can learn the intimate details of almost anyone's financial records with nothing more than a few keystrokes and mouse clicks. Accessing a computer terminal that is connected to one of the credit reporting bureaus, looking for names similar to the thief's , or someone with good credit. This type of access is the negligence of the company which is permitting such access in an unmonitored environment. Insiders' have also used their access to personnel records to obtain Social Security numbers of identity theft victims.

Generally, victims of credit and banking fraud will be liable for no more than the first $50 of the loss. (15 USC1643) In many cases, the victim will not be required to pay any part of the loss. (The victim must notify financial institutions within two days of learning of the loss, although this is often waived.) Even though victims are usually not saddled with paying their imposters' bills, they are often left with a bad credit report and must spend months and even years regaining their financial health. In the meantime, they have difficulty writing checks, obtaining loans, renting apartments, and even getting hired. Victims of identity theft find almost no help from the authorities as they attempt to untangle the web of deception that has allowed another person to impersonate them.

What happens when the phone rings and a collection agency demands that you pay past-due accounts for merchandise you never ordered? The supermarket refuses your checks because you have a history of bouncing them, yet you have a perfect record and always pay your bills on time. Victims themselves are burdened with resolving the problem. It is important to quickly and assertively act to stop the thief's further use of your identity and to minimize the damage. In dealing with the authorities and financial institutions, the victim needs keep a log of all conversations, including dates, names and phone numbers. Note time spent and any expenses incurred. Confirm conversations in writing. Send correspondence by certified mail (return receipt requested). Keep copies of all letters and documents. There are many different details and steps to take