Identityfraudresources.com

The Identity Thief and your Stolen Identity

Why is it that all an identity thief has to do is steal one Social Security number to become public enemy #1?

The reason is, while these crimes are relatively easy to commit, locating and prosecuting the perpetrators is definitely no easy matter. Most id thieves go unpunished, free to commit crimes such as credit fraud, over and over again, and they do! No surprise there.

What Is Identity Theft?

The U.S. Department of Justice gives this definition of identity theft:

Identity theft and identity fraud are terms used to refer to all types of crime in which someone wrongfully obtains and uses another person’s personal data in some way that involves fraud or deception, typically for economic gain.

Clearly, the Justice Department places identity theft and fraud in the same category. We don’t have a problem with that, however, one must see the distinction between the two. Not using any grammatical terms, theft is the act of stealing the identity, while fraud is what happens when the stolen identity is used wrongfully, i.e. without your permission.

The definition of the ‘identity thief’ on the other hand, is quite straight-forward. We are not even going to spell it out, after all, let’s face it, a thief is a thief in any language. An identity theft criminal simply specializes in the acquisition of illegal identities and other personal information.

Since identity theft is a fact of modern life, then we must take measures to protect ourselves from it. Just as you would limit your exposure to The HIV virus to the best of your ability, you put in place, some protection from identity theft. It just makes sense.

A “Stolen identity” victim Can Be Found Anywhere

Let us clear the air first of all.To do so, here are some identity theft facts.

Most people, when surveyed, still believe that idtheft is not going to happen to them. Let’s not be naive here.

All the statistics from the FTC, the Justice Department and most other identity theft resources, say otherwise.

Judging from the proliferation and rapid spread of the crime, it’s more likely to be “when not if” it happens to you!

When are you going to begin investigating ways to protect yourself from online identification theft?

Here’s where we started, Identity Protection Service. Visit the site, but keep in mind, there are literally dozens of companies offering an identity theft service. You must do your own homework.

FTC Information On Identity Theft

Here are some 2004 figures from the  government’s watchdog  identity guard agency, the Federal Trade Commission.

*Mathematicians and other swifties, please note: they did mention in their footnote, the percentages do not add up to 100% because some victims reported more than one kind of identity theft.

• 28% Credit Fraud (Sometimes called credit identity theft)
• 22% Other Identity Theft (Including medical identity theft)
• 19% Phone or Utilities Fraud
• 18% Bank Fraud
• 13% Employment-related Fraud
• 8% Govt. documents, benefits fraud (Stolen social security number)
• 6% Attempted idtheft
• 5% Loan Fraud

As you can see, an identity thief has many options as far as to what areas they can target. Make no mistake, the identity theft crime arena is very lucrative and busy. Here are some more facts to reinforce why you should not scoff and say “it only happens to the other guy“.

Nedd more information? Okay, this time from a survey by Deloitte & Touche LLP and Privacy & American Business, a publication of the Center for Social & Legal Research. (June 2005)

20% of respondents to our survey claim to have been a victim of identity theft or fraud. That’s one in five! That could be someone on your block, in the cubicle next to you at work, in the seat next to you at a PTA meeting.

Could it be you? Maybe if we all began reporting fraud as it occurred, we can make a dent in its’ impact on our lives and increase those odds.

A victim of idtheft doesn’t set out to be a victim, and yet they may find their lives turned upside down and grief stricken. As if that was not enough, they soon come to the realization that, beside the personal violation, the identity thief has now “gifted” them with countless hours and hundreds of wasted dollars trying to clear their name!

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AP IMPACT: New ID theft targets kids’ SS numbers

By BILL DRAPER, Associated Press Writer Bill Draper, Associated Press Writer   – Mon Aug 2, 4:25 pm ET

KANSAS CITY, Mo. – The latest form of identity theft doesn’t depend on stealing your Social Security number. Now thieves are targeting your kid’s number long before the little one even has a bank account.

Hundreds of online businesses are using computers to find dormant Social Security numbers — usually those assigned to children who don’t use them — then selling those numbers…. More