identity fraud

Identity Fraud

Identity fraud is a bigger problem than generally acknowledged, with an estimated 10 million Americans becoming victims in the last year, according to a new Federal Trade Commission survey.

Many of these politicians have cited the Internet as a source of the growing problem of identity fraud.

Identity theft and identity fraud are two of the fastest growing crimes in the United States. Identity theft and fraud occur when someone gains access to another person's personal information, such as a driver license number, and uses the information to commit fraud.

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. These Web pages are intended to explain why you need to take precautions to protect yourself from identity theft.

Unlike your fingerprints, which are unique to you and cannot be given to someone else for their use, your personal data - especially your Social Security number, your bank account or credit card number, your telephone calling card number, and other valuable identifying data - can be used, if they fall into the wrong hands, to personally profit at your expense. In the United States and Canada, for example, many people have reported that unauthorized persons have taken funds out of their bank or financial accounts, or, in the worst cases, taken over their identities altogether, running up vast debts and committing crimes while using the victims's names. In many cases, a victim's losses may include not only out-of-pocket financial losses, but substantial additional financial costs associated with trying to restore his reputation in the community and correcting erroneous information for which the criminal is responsible.