Definition of Identity Fraud
Identity fraud is the most prevalent crime in the United States. According to the Federal Trade Commission, more than 8.3 million Americans were victims in 2005 alone. It can be crippling for victims. To protect against identity fraud, it is important to understand what it is.
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Definition of Identity Fraud
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According to I.R.I.S., the Utah identity fraud website, identity fraud occurs when a person knowingly or intentionally obtains personal identifying information of another person, and uses, or attempts to use, that information with fraudulent intent, including to obtain, or attempt to obtain, credit, goods, services, any other thing of value, or medical information in the name of another person without the consent of that person.
How Information Is Stolen
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Identity fraud can occur in numerous ways. Thieves can obtain information from your trash or mail, steal credit cards, or steal wallets or purses. Thieves can also use email and telephone scams, or present themselves as legitimates businesses to you.
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Social Security Number
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The main piece of information thieves want is your Social Security number. With access to this number, thieves can find out almost anything about you. Further, unlike bank or credit card numbers, it is almost impossible to change your SSN.
Using Your Information to Obtain Something of Value
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Once a thief has your information, he will use it to obtain something of value. This can include goods, services, or medical information. Often, thieves will open new bank or credit accounts in your name, and may even go so far as to buy a house or a car in your name.
I.D. Theft Recovery
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It may take victims of identity fraud years to fully recover. It takes some victims as many as 155 hours to recover from identity fraud. Further, there could be effects that last years after the initial victimization. It is a devastating crime for victims.
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References
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