Complete Name: Unit 4 Student Name: Jenkins, Shanika
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1. Case Study: “Don’t Let Crooks Steal Your Identity: How to Protect Yourself-and Your Credit Rating” (p. 225)
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2. Provide several methods that crooks use to steal your identity.
Student Answer: There are several methods to a crook use to steal your identity. Some crooks are using credit cards and drivers licenses with identities lifted from a stolen or forged passports a crook can be one that is pilfering your credit card number and charging merchandise to your
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You will notice when checks start bouncing or a collection agency begin calling you. The good thing is the damage isn 't so much in dollars,since the financial institution are liable for the unauthorized charges. You wil also notice when you can 't get approved for a mortgage or a job, and the countless phone calls and paperwork you 'll need to go through to set the records straight. You will also notice when you are applying for credit somewhere and they will not approve you when you know that you have great credit score. There are also unauthorized credit or debit card purchases, getting unexpected credit approvals, unprompted collections letters that you have no idea about. Also someone can hack into your email to see if you have any information in it.Also if you have an account that has been flagged warning it means that it is something odd on your account and they will flag it as a warning to let you know. A crook can also even get into your mailbox and get your mail, when you are expecting something and you know that it should have been here by now. You may even have someone to use your medical information, because they don 't have any to take care of there own problems. Your identity can even be stolen when someone has committed a crime and use your name and get a surprising arrest warrant for no reason. There are so many ways for crooks ro come up with things.
Correct Answer: n/a
There is a thief that lurks around us everyday; this thief can attack in brad day light or in the darkest hour, and just about anywhere you may find yourself. This thief has the power to act in your name, make unlimited purchases, open up credit accounts and ruin your good name and credit all in the matter of seconds; if you are vulnerable enough, you might become his next victim. In many cases all he needs is your name and a social security number, and he has enough information to make you his next victim; if you don’t believe me then ask the millions of Americans that became victim’s, or just ask me. The thief that I am talking about is identity theft. Identity theft is a
Identity theft is the least understood of all problems, though this assumption of our identities for fraudulent purposes is the most alarming of all problems. It is the most rapidly growing crime in the United States. It is quite complex, and this is how fraudsters work. A fraudster gets hold of your personal information, including your social security number and the numbers of your credit cards, among others. It is not so difficult if you are not careful. He/she assumes your identity, runs up astronomical bills, and leaves you holding the bag. This leaves you with a credit record that is totally ruined, and creditors at your door screaming for their money.
Identity thieves send out letters, emails and SMS’s hoping to ‘phish’ information from you pretending to act on the behalf of a bank or other institution by creating spoof websites. The scammers also install programs onto your computer or other devices through software downloads such as apps which then track online activity of people and report the keystrokes used when on banking or online shopping websites where credit card information is entered. The perpetrators of these crimes also monitor social media sites such as Facebook and Twitter and also job search sites to gather any personal details they can use to open financial services in your name, run up debt and apply for other various
Once someone else gets your personal information, they can create tax fraud, bank fraud, financial fraud, credit card fraud, and benefits fraud, just to name a few. Likewise, a person can find themselves burdened with debt and they must go through the process of proving the debt is not theirs, however that might prove to be very difficult. As fast as technology develops, identity thieves search for advanced methods of stealing information, however it is almost impossible to completely stop identity theft. Thus, soon as someone discovers that their identity has been stolen they should contact all credit bureaus and place a fraud alert, contact their financial institution and do the same, file a police report, and if a credit card was stolen contact the credit card institution and report the fraud, to name a few. In addition, a person can also contact the Federal Trade Commission, and the IRS to inform them of the fraud (Solove,
During this project, the question arose; who is or has been the biggest winner of identity theft? In the few rare cases involving identity theft where a perpetrator was caught, the culprits in the following cases were identified. And the runner up in the game of identity theft is: Albert Gonzales who in 2008 stole 30 million credit and bank card numbers, hacked several corporate data bases and stole over $200 million. And our grand prize winner is: Philip Cummings who in 2002 obtained 15,000 consumer’s identities and hacked a credit reporting agency. He stole $2.7 million. (Graphs.net). While there is no clear solution to prevent being a victim of identity theft, a person can only take precautions, be aware of their surroundings, monitor
Throughout unit eight of the Financial Literacy lesson, Consumer Fraud, I learned multiple things. To begin, I learned about identity theft, the illegal use of somebody else’s personal information for your own financial gain. Identity theft can cause you many financial issues, which is why it's important to avoid it. You can do this by keeping your personal documents like, passports, Social Security Cards, and extra credit cards in a safe place at your home unless they’re essential. In addition, you should shred old, useless documents instead of throwing them away, and you should be careful when giving out personal information to people over the phone. You should consider checking your credit report monthly, because it can help you maintain
According to www.identitytheft.info approximately 15 million United States residents have their identities used fraudulently each year with financial losses totaling upwards of 50 billion dollars. With numbers like that, it’s not a matter of if your identity will be stolen but rather when identity theft impacts your life.
In today’s society, Identity theft is one of the most repetitive criminality that has plagued hundreds, frequently among millions of individuals each year. It arises once a person has knowingly obtained personal info such as social security numbers, credit card figures, or banking information to purchase merchandise or services without the awareness of the original owner, even with an intent to commit, or to aid any unlawful activity that institutes a defilement of federal law, or that is an offense under any applicable state law. If the offender is found guilty, then the person committing the act may conceivably get a fine, property forfeiture, or at a maximum of 15 years in prison. Identity thieves could also use that person’s credit score
Have you ever received an e-mail seeking money or personal information? How about a phone call saying you’ve won a trip to the Bahamas and all you need to do is answer a few questions? Chances are you have but you’re not the only one. These are all attempts of fraud. Fraud is a very frequently committed crime in America, yet many are unaware when it is being committed. Fraud is a type of criminal activity, defined as an act of deception intended for personal gain and the loss of another party. There are numerous types of fraud but one commonly committed form is identity theft. As the name suggest this is when a thief steals your identity. These larcenist use a persons confidential information to impersonate and commit financial frauds. This
This article by Jamie white was made in purpose is to inform everyone on how identity theft has really affected the United States. Its show all the number of people effect in 2014. Give numbers on complaints the FTC received. She tells you also about credit card fraud that had conspired in the year of 2014. She also informs you of the main targeted group ages to watch out for and simple helpful tips on what to look for.
In 2001, there were 86,212 complaints, which jumped almost 250% to 214,905 complaints only three years later.3 Data from other government agencies and private organizations show that identity theft has been going up since 1998.3 Arguably, identity theft is one of the most rapidly increasing crimes in the United States. The issues this crime can cover involve everything from simply draining accounts of money, obtaining government documents (e.g. applying for a Social Security card with the victim’s information) to, in more drastic scenarios, committing crimes under a victim’s name.4 Naturally, the longer it takes a person to realize that they have been a victim of identity theft, the greater the loss they tend to suffer. However, evidence also suggests that the likelihood of a successful prosecution also decreases as the time it takes to discover the theft increases.5 The elderly and people with low education are usually less likely to discover the theft quickly and are less likely to actually report it once it has been discovered.5 While it is easy to associate the act of identity theft with having a wallet or purse stolen, a more in depth look into identity theft over the last decade has shown that it can cover a variety of things, as mentioned before. If anything,
When people think of identity theft, more often than not they assume that it only happens to wealthy people. Who would bother stealing the identity of a college student who can barely make ends meet? The harsh reality of the matter is that anyone can be a victim.
Thieves can easily get their hands on the information they need through pick pocketing. (“Identity Theft”). While you can insist they're safe because they will never have their wallet, or purse stolen, pickpocketing thieves are the least of your concerns. One of the most common ways that identities are stolen is dumpster diving (“Identity Theft”). This means anything you have thrown away could make you the next victim of identity theft, rather it be a old bank statement, paper receipts from a store, or even an old check thieves could use the information to steal your identity.
Just a few weeks ago we attended two town hall meetings in which our state representative, Pete Lucido discussed identity theft, and they were both vary informative in their own sense. I have split the next portion in to the 4 major talking points.
Credit card fraud transpires daily and in a variety of ways. Often times the consumer that has been a victim of credit card fraud is unaware until they notice the fraudulent charges for purchases they never made. Thieves obtain credit card information in a number of way, data breaches, compromised card information, a dishonest employee at a restaurant or retails store, by a fraudulent website, by giving out credit card information to someone over phone with malice intent.