?Types of Identity Theft Crimes

Incidents of identity theft and fraud are at an all time high this year topping the Federal Trade Commission's (FTC) list of complaints. Reports of fraud and identity theft made up about 39 percent of consumer complaints with Internet auction fraud coming in second place with about 16 percent consumer complaints.

This just proves how big a problem identity theft is for consumers today. The cases of identity theft have gotten more complicated and now include not only credit card fraud and stolen bank funds but also identity theft used to avoid prosecution when committing other crimes.

Identity Theft And Fraud With Credit Cards

The easiest and most popular fraud resulting from identity theft is credit card fraud. Once a person's information is stolen, thieves use it to open credit accounts or use existing credit card accounts and purchase extravagant items with no intention of ever paying for them. Luckily credit card companies are forgiving in these situations and few hold you liable for any charges that are made as a result of identity theft and fraud, not even for the fifty-dollar limit the government allows.

Another form of identity theft is when criminals obtain a loan in some unsuspecting victim's name. These types of crimes are more difficult to resolve. Many lenders have made the process of getting a loan so easy that it is hard to prove that an imposter took out the loan instead of the victim. Victims often don't find out about the loan until it has affected their credit rating.

Identity Theft And Fraud For Criminal Purposes

Criminals don't always go after money when it comes to identity theft and fraud. Some criminals take over a victim's identity when they have committed a crime. This type of identity theft can create big problems for the victim. Now they have a criminal record and it takes a while to correct this mistake.

For example, an identity thief is pulled over for speeding and gives the stolen identity to the cops. Years later the victim may find a warrant for their arrest as well as a pile of court fines in their name that need to be paid.

Article Source: http://www.articleselections.com

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