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Identity theft is the unauthorized use of another's personal or financial information to defraud an individual or entity into obtaining goods or services. The term 'personal or financial information,' typically refers to a person's name, address, credit card, bank account number, Social Security number, or medical insurance account number.
The companies that issued the cards, including Citigroup Financial, HSBC and GE Capital, lost between $500,000 and $1 million. [5] McDowell subsequently pleaded guilty to aggravated identity theft and conspiracy to commit wire fraud and bank fraud and was sentenced to 14 additional years in prison on January 18, 2011. [6]
The Identity Theft Resource Center said there were 662 data breaches in the United States in 2010, almost a 33% increase from the previous year. [19] Between January, 2015 and September, 2017, the Identity Theft Resource Center estimates that there were 7,920 breaches affecting more than one billion records that could lead to identity theft. [18]
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A 2012 identity fraud. You probably already shred sensitive financial documents and keep your Social Security card locked in a safe place. But have you made sure your mother isn't digging in your ...
The term identity theft was coined in 1964. [1] Since that time, the definition of identity theft has been legally defined throughout both the U.K. and the U.S. as the theft of personally identifiable information. Identity theft deliberately uses someone else's identity as a method to gain financial advantages or obtain credit and other benefits.
Before you have to file a police report, here are six banks well-equipped to help you deal with identity theft and fraud: Ally Bank. Capital One. Chase. Citi® Wells Fargo. Bank of America. 1 ...
The Red Flags Rule sets out how certain businesses and organizations must develop, implement, and administer their Identity Theft Prevention Programs. The program must include four basic elements, which together create a framework to address the threat of identity theft. [9] [10] The program has four elements: 1) Identify Relevant Red Flags