Articles and Ideas September, 2008
When one hears of identity theft, it is easy to imagine that a thief would want a lesser known name that would not attract too much attention. However, many criminals target celebrities and other well known individuals counting on the fact that they have larger assets to plunder. There have been many cases of identity theft involving everyone from famous television personalities to CEO's to sports stars. Though celebrities and the like are often privy to certain advantages, they will never be immune to identity theft.
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Protecting an individual's financial well being often means implementing plenty of identity theft precautions. However, it also means having plenty of identity theft legislation in place as well. Though there has always been some form of identity theft regulation on the books, a number of laws and guidelines have been renewed, rewritten and reinforced over the last several years. This was done in order to keep up with the changing climate of fraud and to help victims have some form of viable recourse. Because the problem is so widespread, legislation is written in languages that address both individuals and businesses.
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Identity theft is the act of using an individual's or business' private information without permission to obtain goods, benefits or money. Identity thieves have been known to steal another person's identity in order to escape punishment for committing crimes as well.
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Like any other kind of crook, an identity thief is an opportunist. Most of their time is simply spent waiting for an individual to get careless with their information. Whether it's tossed out in the garbage or lifted from a restaurant, there are a number of places that this can happen. The vast majority of identity thieves set themselves up wherever they will have good access to an individual's personal information. Most often, this is any place where financial transactions are handled. For example, Abraham Abdullah was an identity thief who managed to steal millions from well to do victims while working as a busboy in an upscale New York eatery.
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A common subject reported on in newspapers and on television, many have become quite aware of the cruel inconvenience of identity theft. However, a true understanding of the situation often does not come until an individual is in the midst of being a victim. In general, identity theft is a crime perpetrated by using sensitive information to gain money, benefits, goods or a combination thereof. It has wreaked havoc on a number of industries, including banks and other lending institutions as well as government agencies, real estate, retail and other types of commerce. Law enforcement agencies, from local levels on up to federal bureaus, are often overwhelmed with the number of claims that pour in on a daily basis.
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Identity thieves will advance on a Social Security number with the intensity of sharks smelling blood in the water. This is because a Social Security number is the magic key that allows a thief to not only open new lines of credit but gain other crucial information as well. Once a thief has a Social Security number he or she can then get the victim's credit report that details their address and phone number. Once put together, a thief can live a large part of their life on the dime of another person. The worst part is the victim may never even find out until months or years later. This is especially true if the individual is someone who does not check his or her credit report on a regular basis.
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Dealing with identity theft is not something that is not commonly found on an individual's list of top ten things to do. Unfortunately, it is something that, when it does occur, must be dealt with swiftly, adeptly and without hesitation. When it comes to identity theft, perpetrators are counting on time to be on their side. By practicing safe, smart habits and staying alert, one can often keep the upper hand on the underhanded.
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