History Of Identity Theft

Stories on Identity Theft And Fraud

Stories on identity theft and fraud top the Federal Trade Commission’s (FTC) list of consumer fraud complaints this year and have every year since 2000. As a matter of fact stories of fraud and identity theft make up about 39% of consumer complaints with fraud resultant from Internet auctioneers in second place with about 16% of consumer complaints. This just proves how big a problem identity theft is for consumers today. The cases of identity theft have gotten more complicated and now include not only charge card fraud and stolen bank funds but also identity theft used to avoid criminal prosecution when committing other crimes.

Stoeies on Identity Theft And Fraud With Credit Cards

The simplest and most popular fraud resulting from identity theft is credit card fraud. Once an individuals information is stolen, crooks use it to open credit accounts or use existent credit card accounts and buy exuberant items with no intent of ever paying for them. Fortunately, credit card companies are forgiving in these positions and few hold you liable for any bills that are made as a result of identity theft and fraud, not even for the fifty-dollar limit the government allows.

A related form of identity theft fraud is getting consumer loans in the victim’s name. These types of debts can be harder to deal with than credit cards. In addition, lenders have made it so easy to get a loan that it can be difficult to prove that the loan was not really taken up out by you. Imagine finding that a person you have never met took out a $60,000 loan in your name that has pretty much ruined your credit rating and you will begin to realize how devastating stories on identity theft and fraud can be to its victims.

Stories On Identity Theft And Fraud For Criminal Purposes

It is not always just your credit that gets ruined; it can be your police record also. There have been many examples where someone who’s stolen the identity of some other individual has given the stolen identity when caught committing an unrelated criminal act. For example, an identity thief is pulled over for cannonballing along and gives the stolen identity to the cops. Years later the victim may find a warrant for their arrest as well as a pile of court fines in their name that need to be paid. Unfortunately this leaves identity theft victims not only trying to sort out their credit rating but also repairing their good name, which often is not as easy to fix.

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