In the face of society, financial identity theft can be a grim and even fatal situation. The deprivation of money is one of humankind’s greatest worries, and very few solutions are available. If you disagree, think again: without money, how would simple things like eating at McDonald’s be possible? An ordinary mall stroll can become a life-threatening circumstance if a swindler decides to steal your credit card, leaving those you care for in a nasty scenario. The lasting impact that financial identity theft develops can morph into problems such as economic stress, beneficial loss from the government, and fraudulent crimes. The anxiety caused by financial ID theft is known as economic stress. Contrary to popular belief, most people are severely affected by this ailment. Symptoms such as heart attacks, strokes, and extensive drug abuse can be highly common in adults attempting deal with it. The APA (American Psychology Association) conducted an analysis on economic stress in 2014; the study showed that the majority …show more content…
We can use military veterans as an example, for they are given various benefits for serving their country. If someone had swiped their personal information, he or she could pass off that fake identity as their own and use it to gain advantages for themselves. Vagrant families who don’t have the money to support their children can truly be in a dire state when confronted with financial ID theft. Even the government cannot provide help to victims of ID theft, due to the fact the authorities are incapable of proving who they actually are. Most people purchase insurance to ensure that they will be safe if something catastrophic happens to them. Yet if their identity is taken from them, the insurance will no longer be theirs. The bottom line is, if you encounter a crisis that puts those you love in danger, financial ID theft can interfere with help from the
Two individual employees wanted to complete their assignment for their company. But, did their strategy go about accuracy? Karel Svoboda works for Rogue Bank. Svoboda is a credit officer who needed Alena Robles, independent accountant, assists to evaluate and approved his employer’s extensions of credit to clients. In order to complete the task, Svoboda needed to access the nonpublic information about the clients’ personal information related to the company such as their profits and performances. Instead of appropriately following the company policy, Svoboda and Robles created a plan to utilize this data to exchange securities. According to their plan, Robles exchanged the securities of more than twenty unique organizations and benefitted by
Identity theft is a term used for describing criminal that uses individual’s identity without consent. A common crime of identity theft would be identity fraud. Many of the crimes are regularly connected with money-related issues (Reyns, 2013). With technology being commonly used nowadays we are getting more dependent on it for business, financial, medical, and other forms. As a result this became a target for identity thieves as well. The Internet provides us information and accessibility, but information being stored on the Internet eas...
An example of financial obligations causing stress, the college professor with 47 years of experience, a Doctorates degree, and a debt-free life drives a 2016 Cadillac; it is not abnormal for some college student, with a significantly lower income, to purchase that same 2016 Cadillac. The difference is the professor can afford four 2016 Cadillacs without a financial struggle; however, the college student is contemplating suicide because he or she does not know how their car note is going to be paid and they have final exams the following week. According to American Psychological Association about three-quarters of the American society are experiencing high volumes of financial stress. Debt in America is becoming accustomed, so when a one income household wants a new car they get a loan; but, this loan has to be paid back in a term of maybe 60 to 72 months and with interest. Some people try to plan smartly for large purchases, but it is impossible to see the future; if disaster strikes, the household is in turmoil, and the stress of a financial obligation sets in. Financial stress is a leading cause of stress in America; individuals that create debt and do not establish emergency savings are high risk for extreme financial
Identity theft is an increasing epidemic. Some of the ways a person can commit identity
Securing Personally Identifiable Information is critical and important because of the fact that PII is used to distinguish one person from another. Each piece of information is uniquely given to a specific individual. Having one thing unsecured, could give someone access to that unsecured item and so much more. If I had my social security card out in the open and someone was able to somehow get ahold of my SSN, it would give them unlimited access to pretty much everything else about me. They would be able to figure out my full name, birthday, address, etc. Having this information available could lead to the person getting credit cards in my name, getting access to my already opened credit cards, and even worse, stealing my identity. To prevent Identity theft, I will make sure my PII is secured and locked away. I will use the
I’ve decided to write my research paper on the issue of identity theft. Identity theft has occurred all throughout history in various ways and forms. Today, it is one of the fastest growing crimes occurring all over the world. Data suggests that identity theft accounts for roughly $50 billion stolen each year from citizens and businesses in the U.S. I believe that more attention should be targeted towards identity theft because of the detrimental effects it can have on a single victim and on our nation’s economy. Topics I will discuss include statistics about the crime, laws that protect the victims of the crimes, and what we are doing to prevent future attacks from happening.
Several legislative codes have been ratified to prevent and deter credit card fraud. Many have been created or modified within the past decade and are enforceable by several agencies, such as the Federal Bureau of Investigation (FBI), United States Secret Service (USSS), and the United States Postal Inspection Service (USPIS). Task forces consisting of federal, state, tribal, and local agencies have been formed throughout the U.S. to increase joint-interagency cooperation among criminal investigators and prosecutors.
The Internet plays the biggest role in identity theft. On the Internet, a thief can hide from detection while stealing peoples’ identities from their homes, being able to steal peoples’ information one by one “then disappearing into another identity,” (Vacca 60). Internet fraud consists of two phases. The first being spoofing where a fake site is set up made to look like the real thing. Once that is completed the second phase, phishing, begins. This usually starts with an email that uses the
Sullivan, C. (2009). Is identity theft really theft? International Review of Law, Computers & Technology, 23(1/2), 77-87. doi:10.1080/13600860902742596
Have you ever received a credit card bill at the end of the month with a ridiculous amount of money needed to be paid that you never spent? This is because of identity theft. The FTC estimates that each year, over 9 million people are affected by identity theft. According to Sally Driscoll, this is because almost anyone with a computer and a slight bit of computer knowledge can pull off identity theft. Experts also claim that identity theft is the fastest-growing crime in the world. Identity theft is a global problem that cannot be stopped without effective measures. The problem is, effective measures are very hard to come by when dealing with identity theft because almost any security protocol can be by-passed.
III. Thesis Statement: Identity Theft is rapidly becoming a national issue because anyone of us could be a victim of identity theft. How we protect our self, keep our information private, identify any signs of identity theft, and report and repair our credit is up to each one of us. We have to be vigilant about our protecting ourselves from criminals.
Identity theft is a non ethical criminal offence. It is when someone gathers someone’s personal information and uses it against them. Fraudsters usually get a hold of personal information using three methods: information given away, offline methods and online methods. People commit this crime for many different reasons, but they all have one common goal of using some else’s identity to their advantage. There are many different type of identity thefts, which are categorized on what the criminal is using the identity for. Having said all of this, identity is a crime that can cause a lot of finical and reputation damage to the victim and that is why it is important to prevent it. Identity theft can be prevented if everybody knows exactly what it is and what they can do to keep their identity safe.
Identity theft according to Wikipedia.com is the deliberate assumption of another person's identity, usually to gain access to their finances or frame them for a crime. Less commonly, it is to enable illegal immigration, terrorism, espionage, or changing identity permanently.
Most researchers agreed that finances are an important factor for stress. According to an online poll carried 23% of people, who take part in these studies answer that finances as the major cause of stress in their lives. Stress about budget maybe result in insufficient income. Financial stress has led the list in much modern survey. In fact, the more modern life is, the more important money is. Anything needs money, even love also needs it. College students are stressed when they have to pay for an education. Older citizens find that retirement income can be a main cause of stress, when adults are stress because they have to face family expenditures. In addition, work is a major factor of stress. 80% Americans agreed that economy is a significant cause of stress. We always worry about getting a suitable job and how we keeping this job. Besides, we often worry new kind of work and new responsibilities. Sometimes, work stress is brought on by others such as our staffs, our leaders. we bring it on
America,” (Weidenfeld 1). Being the number one crime, identity theft is very dangerous. If your