Identity theft is a type of crime where fraudsters gain access to someone’s personal information and use it illegally The information stolen can include names, addresses, dates of birth, Social Security numbers, driver’s license numbers, credit card numbers, bank account numbers, medical information, and more. Once they have accessed this personal data, they use it to open bank accounts, take out loans, and apply for credit cards in the victim’s name.
Identity theft is a serious crime with serious consequences. Victims may experience financial loss due to fraudulent activity, ruined credit scores, and emotional distress. It can take years for a victim to repair the damage done. In some cases, victims of identity theft never fully recover.
The best way to protect yourself from identity theft is to be aware and alert. Don’t leave your personal information out in the open, keep it secure and protected. Use strong passwords and never give away your information online or over the phone. It’s also important to monitor your credit and bank accounts regularly for any suspicious activity.
Here are five examples of successful identity theft:
1. In 2019, a man successfully posed as a real estate attorney to purchase two houses in California in another person’s name. He was able to get away with it for two years before being caught and sentenced to four years in prison.
2. In 2008, a fraudster managed to steal over $600,000 from an elderly man by posing as his grandson in distress. The fraudster managed to gain the victim’s credit card information and bank account numbers and used them to withdraw the money before disappearing.
3. In 2006, a woman established over 15 credit cards with stolen identities. She was able to purchase over $400,000 worth of goods before being caught and sentenced to four years in prison.
4. In 2001, a man used another person’s Social Security number to obtain a $100,000 loan to purchase a luxury car. He was able to get away with it before he was caught and sentenced to six years in prison.
5. In 2005, a fraudster was able to access the personal data of over 15,000 people by hacking a corporate database. He used the stolen data to open up fake bank accounts and make purchases with stolen credit cards. The crime cost the company over $2 million dollars and the fraudster was sentenced to eleven years in prison.