What should I know about Identity Theft?

·Identity theft is a form of cheating or fraud of another person’s identity where someone pretends to be someone else by usurping that person’s identity. When someone else’s form of identity is stolen, the fraudulent party then assumes access to the victim’s resources, benefits, and financial information. As a result, the victim of identity theft will suffer adverse consequences as they are responsible for holding accountability of the perpetrator’s actions.

When you realize your identity has been stolen contact an identity theft lawyer to acquire legal advice and assistance.

·There are numerous forms of identity theft, but in all cases, the victimized party is exposed to the actions of the aggressor’s illegal obtainment of the individual’s financial and personal information.

Identity Theft Statistics

·In the United States, as many as 12 million Americans are victims of identity theft per year.

·40-50% of identity theft victims are made aware of identity theft within 3 months of the illegal action. 10-20% of the victims; however, take 4 years or longer to discover the illegal infiltration of their personal and financial information.

·Victims of identity theft spend from 3 to 5,840 hours repairing damages realized through identity theft. This wide range is due to the varying levels of severity present in the crime—a lost credit card, for example, will require less time repairing than a compromised social security number. The total average of time spent repairing the damages realized through identity theft is approximately 330 hours.

·26-32% of victims will spend a period of 4 to 6 months dealing with their particular case, while 11-23% of victims will take over 7 months to repair and resolve the consequences of their particular case.

·Nearly $250 billion a year is lost by businesses who are victims of identity theft. On average, a victim of identity theft will lose between $2,000 and $14,000; victims will subsequently spend an average of $851 to $1,400 in expenses related to their case.

Aftereffects of Identity Theft

·50% of identity theft victims experience trouble getting loans or credit cards as a result of identity theft.

·20% of victims will experience higher credit card rates, while 16% of identity theft victims have higher insurances rates because of the theft.

·72% of identity theft victims will have trouble resolving or terminating the negative information left on their credit reports or other information left on their personal records.

What Information is used by the Fraudulent Party?

·Nearly one third of identity theft cases revolve around checking account fraud.

·2/3 of victim’s personal information is used to open new checking or credit accounts.

·30% of victim’s personal information is used to purchase a cell phone service.

·12% of identity theft victims end up having warrants issued in their name for financial crimes committed by the identity thief.

Steps taken to Prevent Identity Theft

As technology continues to improve, numerous companies (such as LifeLock) continue to develop cutting-edge techniques and programs to offer identity protection means to the average consumer or business. Various security requirements, encryptions and anti-piracy software produced by such companies as LifeLock are used to secure personal and banking information and impede identity thieves from conducting fraudulent activity. 

What is Encryption?

Encryption is a means of electronic security that involves
methodologies facilitated in order to provide the protection of digital and
virtual information systems, which are considered to be classified, private,
personal, or restricted to viewing on the part of authorized individuals. Electronic
trespassing measures undertaken in order to achieve the unlawful entry into –
or access of – personal computer terminals belonging to
victims of cyber-crime, may include the illicit and unlawful access of
informational databases and digital record systems.

Encryption
Terminology

The necessity to protect vital – and oftentimes privileged –
information has been observable throughout the annals of history; historians
have discovered coding and masking techniques with regard to clandestine
communication employed for hundreds of years. Modern Encryption techniques have
adapted to the growing need of privacy, safety, and protection resulting from a
respective ability to access information as per the technological advances of
the Digital age.

A cipher is mathematical equation that
correlates to the decoding process of a message or text that has been encrypted

A code provides a replacement for a text or
message, while a cipher is an encryption methodology that must be deciphered in
order to reveal the message or text in question

Administrative
Encryption

Cryptology is the scientific field specializing in the
development, advancement, and synthesis of the Encryption process The
Department of Digital Rights Management (DRM) is considered to be at the
forefront of the creation, regulation, authentication, and development of a
majority of the Encryption facilitated by the Federal Government.

Why is Encryption
Necessary?

Due to the fact that the criminal activity known as
‘Hacking’ is conducted with the intent to commit a crime, Encryption provides
for the protection and safety of digital information. Due to technological
innovation, electronic identity theft is considered
by many to be one of the most recently-developed crimes, credited – in part –
to the ongoing advent of computer-based technology. This type of technology
relies heavily on the Internet and online activity, and as a result,
regulations and oversight of this type of activity has been expressed in the
spectrum of preventative measures involving the cessation of electronic
identity theft.

Computer Fraud and Identity Theft

Computer fraud is a
type of theft involving the criminal act of electronically obtaining the
personal – or private – information belonging to another individual or entity
through the use of technological – albeit illegal, unlawful, unethical, or
fraudulent – means. Within the realm of computer fraud, the criminal act of electronic
identity theft is defined as the act of illegally assuming the
identity of another human being without their consent with the intent of
committing fraud, theft, exploitative acts, and harm.

The
receipt of economic gain at the expense of victims of identity fraud takes
place through the deliberate misrepresentation of personal information or private
data; in many cases, this type of electronic data is attained through the
electronic infiltration with regard to computer systems containing electronic
data.

How to Prevent
Electronic Identity Theft

Companies providing methods of Identity theft prevention –
including Lifelock, which is one of the most widely-acclaimed and recognized –
have employed protective measures ranging from securing online perimeters to
communicative transmission inquiring about the validity of unsubstantiated
activity; these types of companies have found their respective niche within the
prevention of identity fraud upon providing protection in lieu of infringing on
personal privacy. 

What is IdentityTheft?
Identity Theft is definedcriminal act of fraudulentlyobtaining the personal information belonging to another individual, and subsequently assuming that person’sidentity without the expressed consent – this type of fraudulent representation can be facilitated in order to achieve a variety of outcomes. Typically, an individual committing identity theft will utilize deceptive means in order to gain access to the personal and private information belonging to another individual; this can be done through wire fraud or the illegal entry into an individual’s personal records – once this information is obtained, the individual committing identity theft will typically pose as that individual, unlawfully acting in that person’s place in order to achieve economic gain.

Types of Identity Theft
Although the criminal means of Identity Theft can vary in nature and setting, a vast array of negative outcome – in the form of damage, theft, and loss – exist; due to the expansiveness of Identity Theft, the severity of the crime is oftentimes corollary to the severity of the latent consequence(s) – loss sustained as a result of Identity Theft can range from the misappropriation of monies to the unlawful attainment of documentation.
Identity Theft and Cyber Law
Many consider the most common form of Identity Theft to be facilitated through the useof virtual networks. In many cases, virtual networks – akin to a large majority of electronic communicative devices – reside within the jurisdiction of Cyber Law; additional means of electronic identity theft can include information technology networks, telecommunications, and the Internet:
•    Online Identity theft can result in the illegal attainment of stolen property and goods acquired through an online commercial marketplace; this is also known as E-Commerce (electronic commerce)
•    Purchase orders can be placed by individuals in possession of unlawful personal and financial information, while the victim will discover charges incurred for products and goods delivered elsewhere; in order to reduce the risk of capture, individuals well-versed in Identity Theft will request that the goods be shipped to anonymous, remote locations
•    The attainment of passwords
Identity Theft and Immigration Law
The facilitation of Identity Theft as a means to unlawfully attain illegal – albeit official – documentation is not uncommon. In lieu of engaging in the legal procedure of the adjustment of individual immigration status, criminal operations have taken to the illegal attainment of personal information under the ownership of a victim in order to submit fraudulent documentation. As a result, official – and oftentimes governmental – documentation can be acquired in such deceptive means; in a majority of cases, the victims will be unaware as to document and form requests unlawfully conducted in their name:
•    Through the use of stolen – or immigration documentation attained by illicit means – individuals can fraudulently assume the identity of others in order to claim immigration status, adjust employment status, and gain access to unlawful financial accounts
•    Stolen – or fraudulently attained immigration documentation – can pose a security threat, as well; without reputable identification, tabs and records cannot be adequately kept with regard to individuals leaving and entering the United States