Identity fraud and identity theft are crimes where someone illegally obtains and uses the personal data of another person in a fraudulent or deceptive way, often for financial gain.
Identity theft is a serious crime, not just because of the monetary damages it causes, but also because of the extreme personal nature of knowing somebody is out there using your identity and personal information to defraud others.
According to a study commissioned by the Federal Trade Commission, last year alone, over 9.9 million Americans discovered they had been victims of identity theft, at a total cost of nearly $50 billion, or an average of almost $5,000 per victim.
In one of the more famous cases of identity theft, a convicted felon not only had more credit card debt but also obtained a federal loan to buy homes, handguns, and motorcycles in the victim’s name. He then called the victim to taunt him, saying that he could pretend to be the victim as long as he wanted, since identity theft was not a federal offense at the time. In the name of the victim, the criminal filed for bankruptcy. The victim and his wife spent more time and more money to rebuild their credit and reputation. However, the criminal was sentenced to a short prison term for falsely stating that he would purchase a firearm. His victim was not compensated for the damage he caused. This case and others led Congress to establish the Identity Theft & Assumption Deterrence Act 1998.
If you believe you’ve been a victim of identity theft or fraud, act immediately to minimize the damage to your personal funds and financial accounts, as well as your credit report and reputation.
You can get quick and easy access to Top Identity Theft Lawyers in your area offering sound legal help and assistance simply by completing the form at the top of this page.