The many Reasons For Identity Theft

Identity theft is a serious theft that defrauds millions of dollars from innocent victims every year. We have all read of private data breaches which led to credit card fraud, but financial gain is not the sole reason for identity theft. Let’s look at several of the points thieves will do in your name once they have taken your identity.

Outsmarting the Law

It is no surprise that a great many identity thieves have criminal records. They may be not able to use for legitimate jobs as a result of prior felony convictions. Since they cannot erase those crimes from their records, they swipe others’ identities to produce a fresh start. With a victim’s name, date of birth, and Social Security number, identity thieves are able to have access to work, citizenship, and government benefits. They might also avoid arrest inside the function of a traffic stop. Unfortunately, the victim might not comprehend that their identity has become stolen until they are arrested for crimes committed in their name.

The Comforts of Home

A thief with bad credit could target victims that are more likely to receive approval for rental contracts or home loans. After buy fake id has all of the victim’s private details, they can use for a mortgage or a lease. They might also arrange brand new utility accounts. Yet again, this particular kind of identity theft often goes undetected just before sorry victim is contacted by debtors for overdue bills. Imagine their surprise when they are held accountable for debts they never incurred, or maybe mortgage payments for a home they have never seen before!

Speedy Cash and Credit

One of the most popular kind of identity theft involves credit card, bank account fraud, and check. Identity thieves use private information to set up new accounts or take control of existing ones. With a victim’s name, address, date of Social Security number and birth, thieves have most of the proof they have to pass themselves off as the legitimate account holder. Then they drain the users, run up credit card charges, or even produce bad checks. This particular type of fraud is able to lead to big financial and legal trouble for the victim.

The reasons for identity theft are many, though the goal is , obviously , the same: to use someone else’s identity for financial or personal gain. Always watch your accounts strongly for data of unauthorized withdrawals or purchases. Try keeping your eyes open for mailings with regards to mortgages and leases for properties you’ve certainly not had or perhaps rented. if you notice things fishy, or if you ever receive a telephone call about a debt you don’t know anything about, it’s time to start out reclaiming your stolen identity.

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