Identity Theft In America
Identity theft is a criminal offense that violates of federal law (“Identity theft is America’s”). It occurs when a person transfers or uses another person’s means of identification with the intent to commit any unlawful activity (“Identity theft is America’s”). Although, it differs from other types of less calculated fraud such as a juvenile using a fake id to purchase alcohol (Lease). More precisely identity theft occurs “when an individual with access to identity information decides to misuse it” (McNally 12). When a person’s identity information is stolen it can unlock two main doors to his or her life (McNally 17). The first door leads to personal affair, and the second opens all of the possibilities available to the person in the future
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Just last year, more than 9.9 million Americans were victims of identity theft which cost them about 5 billion dollars in all (“Identity theft is America’s”). An estimated 1000 people per say afre victimized by identity thieves (Lease). Identity theft complaint have doubled over the years and were the most common fraud complaint reported by American consumers last year (Identity Theft Most-Frequent Consumer”). The Bureau of Justice Statistic’s survey stated “victims reported losing a total of $24.7 billion in direct and indirect costs because of identity theft in 2012” (Morton). Each individual’ out-of-pocket expenses for victims can also range from a few dollars to a few thousand (McNally 22). Mental costs of identity theft include an overall sense of violation and confusion, lost time spent remedying the problem, and frustrations resulting from attempted recovery of identities (McNally 23). Identity theft can also cost people opportunity cost and impact image. A company may loss customers due to the information breach and a government may suffer public image if affected by a breach in security (McNally 23-24). Identity crime also leave a victim’s credit history in shambles which makes it difficult to apply for loan or cards in the future (Meyer 29). Additionally, identity theft also affects a widespread amount of
Just last year, more than 9.9 million Americans were victims of identity theft which cost them about 5 billion dollars in all (“Identity theft is America’s”). An estimated 1000 people per say afre victimized by identity thieves (Lease). Identity theft complaint have doubled over the years and were the most common fraud complaint reported by American consumers last year (Identity Theft Most-Frequent Consumer”). The Bureau of Justice Statistic’s survey stated “victims reported losing a total of $24.7 billion in direct and indirect costs because of identity theft in 2012” (Morton). Each individual’ out-of-pocket expenses for victims can also range from a few dollars to a few thousand (McNally 22). Mental costs of identity theft include an overall sense of violation and confusion, lost time spent remedying the problem, and frustrations resulting from attempted recovery of identities (McNally 23). Identity theft can also cost people opportunity cost and impact image. A company may loss customers due to the information breach and a government may suffer public image if affected by a breach in security (McNally 23-24). Identity crime also leave a victim’s credit history in shambles which makes it difficult to apply for loan or cards in the future (Meyer 29). Additionally, identity theft also affects a widespread amount of