Identity Theft Case

July 8, 2015 on justice.gov, Rod J. Rosenstein, U.S. Attorney and Tamera Fine, Identity Fraud Coordinator for the District of Maryland, writes in their article entitled “Identity Theft: Coordination Can Defeat the Modern-Day “King” and “Duke”; that the scope of identity theft is it is “twice as prevalent among the wealthiest households when compared with the poorest, and over fifty percent more likely among the young (those between the ages of 16 and 24) than seniors (aged 65 or above).” Their conclusions were the fact that “approximately half of identity theft victims had existing credit card accounts or other financial accounts compromised.” Also, that in these cases most victims were compensated but the “financial institution” suffered the lost.
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Also in their article they point out the “harm caused by Identity theft.” They list such consequences as the harm to all “socioeconomic groups.” The fact that it targets individuals as well as “financial institutions.” They state that it “places victims at higher risk for re-victimization if their identity information is recycled by identity thieves.” Therefore once you become a victim, it is likely that you will be re-victimized. Once a criminal has your personal information, it is likely that they will continue using it.
They point out that identity victims “often suffer significant aggravation and financial losses.” They believe that the fact that “modern commerce is depersonalized” leaving victims to suffer “lasting harm” after their information is compromised. They believe that some aren’t able to receive future credit or may have employment problems.
They also point out the loses to “large financial loses on financial institutions, government agencies, and countless large and small businesses that are defrauded, directing you to the Bureau of Justice Statistics where they estimate that this financial loses was “$17.3 billion in 2007 and