A crime in which a person pretends to be another person for the purpose of using his/her financial information for personal gain. Identity theft can be fairly basic; for example, one may steal and use a credit card. Often, however, identity theft involves using computer programs to find a person’s financial information and conduct large transactions with that person’s money. Identity theft is a serious crime, as it can ruin the victim’s credit. making it difficult to obtain a loan when one is needed. Many banks and credit card companies provide identity theft protection to reduce a client’s liability for identity theft and to minimize its occurrence.
Identity theft is the unauthorized use of your personal information, such as your name, address, Social Security number, or credit account information.
People usually steal your identity to make purchases or obtain credit, though they may also use the data to apply for a driver’s license or other form of official identification.
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References in periodicals archive ?
Identity theft service providers that offer assistance to victims should explain what they do to help them and any limitations or exclusions that may apply.
Experts estimate identity theft costs businesses and consumers more than $50 billion a year nationwide as thieves fraudulently use others’ personal information — such as Social Security and driver’s license numbers — to obtain everything from credit cards to goods and services.
The institutions to blame for identity theft aren’t currently the ones who pay the bulk of the price.
Being denied credit or employment is another common method of discovery for identity theft victims.
In one case, up to $25,000 in identity theft coverage has been added to a homeowners policy without additional cost.
Details for the Advanced Two-Day Identity Theft Summit in Las Vegas, Nev.
Department of Education has a printable brochure on identity theft that it encourages schools to circulate.
Identity theft strikes about 10 million Americans each year, according to a study by the Federal Trade Commission (FTC).
The FTC’s Fair and Accurate Credit Transactions Act (FACTA) is one of several laws intended to combat consumer fraud, identity theft and protect privacy.
4 million Americans say they have been victims of identity theft or fraud since 1990, with more than 13 million since January 2001 and rising.
Contact your state attorney general’s office to find out whether your state has laws related to identity theft or visit www.
Such stories are common to law enforcement authorities, who, almost daily, receive calls and complaints pertaining to identity theft across the country.