INTRODUCTION:
Identity Theft is a fraudulent act that is considered a crime where an individual wrongfully or unlawfully obtains and even uses another person’s personal data or information in a way that involves deception and fraud for economic gain. It is advisable that everyone takes precaution to avoid being a victim of such crimes. Unlike the fingerprints which are unique and cannot be given to another person for use, personal data especially the bank accounts, credit card numbers, social security numbers, telephone number including other valuable identifying data. Such kinds of data when they fall into wrong hands can be used for malicious gains by the hackers and/ or thieves. . Identity theft includes illegally obtaining access to personal
…show more content…
For instance, in a public place, criminals can engage in shoulder surfing. It is a watching you from a distance as you punch in the telephone call card number or even the credit card number. They can even tap into your conversation in case you’re giving your credit card number to a rental car company or a hotel.
On the other hand, when you receive an application for the pre-approved credit cards in mail, but discard them without tearing up all the enclosed materials, criminals can easily retrieve the information and try activating the card for their own use without your knowledge.
In the recent years, the internet has also acted as a fishing site for the identity theft criminals to acquire data such as passwords or banking information. In the haste to explore exciting features of the internet, various people tend to respond to the spam or unsolicited e-mails that promise benefits but requests for personal data. In most cases, such requesters have no intention of keeping any of their promises. The criminals use computer technology to get large amounts of personal information or
…show more content…
Fraud is always a crime and a civil law violation. Most of the fraud cases involve the complicated financial transactions that are conducted by the white collar criminals such as the business professionals with the specialized knowledge and criminal intent.
Effects of Fraud on Businesses and Society at Large:
Most businesses feel the effects of economic downturn and in the attempt to minimize the losses; they often unknowingly open their huge financial including reputational risks. It is due to this fact that often increases their chances of being prone to fraud. Identity frauds can make a company to lose their customers personal information to the criminals who later use the same for selfish and malicious practices.
Fraud is considered as the South Africa’s number one economic crime. It accounts for almost 7% of the company revenues globally. Further increase to the figure can prove to be detrimental to a business. Fraud costs a country’s economy a lot of
Fraudulent means to obtain something by means of deception. Usually, it is known by its shortened form, fraud. Different types of fraud account for a notable number of the crimes committed in the United States. Fraud is always evolving, keeping up with changing technology and attempting to stay ahead of law enforcement. Most likely, fraud will not go away. It is important to note that the best way to combat fraud is to be knowledgeable about fraud. The following paragraphs outline several typed of fraud and the people affected by these crimes.
The term “fraud” is commonly used to describe the use of deception to deprive, disadvantage or cause loss to another person or party. This can include theft, the misuse of funds or other resources, or more complicated crimes such as false accounting and the supply of false information. This case study of Mountain State Sporting Goods is an excellent example of individuals acting on the opportunity to financial benefit by committing what they thought was harmless adjustments, but in reality was fraud. In this case study there are is just so much wrong with this company and how it operates. We noticed multiple areas of concern before even seeing the financial statements and my concerns were confirmed upon further investigation.
Identity theft is something that has been around for some time and it will not be gone anytime in the future. With many of the technology that comes out every year may pose a threat to our privacy and personal information. The harm that an identity theft can cause can be from minor to severe. As a result no one would want to become a victim of an identity theft crime because we would never know if we can even restore everything to its original state. For those that have a dependency on technology, be careful about what you do, what you put on the Internet, what information you give out, this is because it could come biting you back into the future.
In modern days, there is a type of crime that is growing very fast. It has become a very popular crime because it’s easily done, and it doesn’t leave a big trace, whether the crime is successful or not. The crime in question is Identity theft. Identity theft is a crime that involves a person or group pretending to be someone else for their own personal wants. The criminals use personal financial information such as social security number, bank and card information, your address and other personal information. According to the Insurance Information Institute, 15.4 million U.S. consumers have been victim to this crime, amounting to a loss of $16 billion, making it the most growing crime
Identity Theft is a severe and important issue that needs more recognizing than is currently has now. Identity Theft is when mean people go around and try to steal your Identity. If they are successful and have stolen your identity they can buy items and you will be charged. They can also ruin your credit history and reputation with your Identity. Identity theft happens every day and many people are affected daily. If your identity gets stolen it may take years to get all your stuff back. It may even cost you money to fix it! This will tell you everything you need to know about Identity Theft and hopefully we can put a stop to it.
younger or sixty years and older will also be charged with a second-degree felony. By using
I’ve decided to write my research paper on the issue of identity theft. Identity theft has occurred all throughout history in various ways and forms. Today, it is one of the fastest growing crimes occurring all over the world. Data suggests that identity theft accounts for roughly $50 billion stolen each year from citizens and businesses in the U.S. I believe that more attention should be targeted towards identity theft because of the detrimental effects it can have on a single victim and on our nation’s economy. Topics I will discuss include statistics about the crime, laws that protect the victims of the crimes, and what we are doing to prevent future attacks from happening.
Identity theft refers to unlawful activities which specifically compromise another person’s identity. According to the US Department of Justice (DOJ), identity theft is an activity “in which someone wrongfully obtains and uses another person’s personal data in some way that involves fraud or deception, typically for economic gain.” Such personal data can include names, Social Security numbers, birthdates, bank accounts, credit card numbers, or medical records. Identity theft can also be part of or enable other types of crimes such as bank, credit card, document, employment, or immigration fraud; robbery; and burglary, for example (Finklea, 2010, p. 2). Identity theft exists on a continuum with simple unauthorized credit card charges on one end all the way to having one’s identity completely assumed by another.
Law enforcement officials have stated that identity theft crime has been one of the fastest growing crimes in the United States. Identity theft is also one of the fastest growing white collar crimes. This is a serious crime. Identity theft is the act of knowingly transferring or using without lawful authority, a means of identification of another person with the intent to commit, or to aid or abet, any unlawful activity that constitutes a violation of federal law, or that constitutes a felony under any applicable state law. If the offender is found guilty, then the person committing the act could get a fine, property forfeiture, or at maximum of 15 years in prison.
According to the Oxford Dictionary, “embezzlement is the act of dishonestly appropriating or secreting assets by one or more individuals to whom such assets have been entrusted”. It is this act of dishonesty that is costing American businesses billions of dollars each year. According to the Federal Bureau of Investigation (FBI), “Embezzlement is considered a white-collar crime, a term coined in 1939. It is not a victimless crime. A single scam can destroy a company, devastate families by wiping out their life savings, or cost investors billions of dollars.”
III. Thesis Statement: Identity Theft is rapidly becoming a national issue because anyone of us could be a victim of identity theft. How we protect our self, keep our information private, identify any signs of identity theft, and report and repair our credit is up to each one of us. We have to be vigilant about our protecting ourselves from criminals.
Have you ever received a credit card bill at the end of the month with a ridiculous amount of money needed to be paid that you never spent? This is because of identity theft. The FTC estimates that each year, over 9 million people are affected by identity theft. According to Sally Driscoll, this is because almost anyone with a computer and a slight bit of computer knowledge can pull off identity theft. Experts also claim that identity theft is the fastest-growing crime in the world. Identity theft is a global problem that cannot be stopped without effective measures. The problem is, effective measures are very hard to come by when dealing with identity theft because almost any security protocol can be by-passed.
Sullivan, C. (2009). Is identity theft really theft? International Review of Law, Computers & Technology, 23(1/2), 77-87. doi:10.1080/13600860902742596
Fraud is defined as someone try to act with intention to cheat other people in order to acquire an unfair or illegal advantage. The fraud happens due to management override the internal control of the organisation and fraud will affect the financial reporting. The main categories of fraud that can affect financial reporting are fraudulent financial reporting and misappropriation of assets.
Identity theft is a non ethical criminal offence. It is when someone gathers someone’s personal information and uses it against them. Fraudsters usually get a hold of personal information using three methods: information given away, offline methods and online methods. People commit this crime for many different reasons, but they all have one common goal of using some else’s identity to their advantage. There are many different type of identity thefts, which are categorized on what the criminal is using the identity for. Having said all of this, identity is a crime that can cause a lot of finical and reputation damage to the victim and that is why it is important to prevent it. Identity theft can be prevented if everybody knows exactly what it is and what they can do to keep their identity safe.