What Is Identity Theft?

Identity Theft

According to Reyns (2013), Identity theft is a term used to categorize several offenses involving the fraudulent use of an individual’s personal information for criminal purposes without their consent. When someone has decided to hijack someone's personal identification information it not only causes financial damage but also impacts the victim's reputation. In order to seek justice, a Forensic Accountant can be utilized to help with recovering the damages caused by identity theft to a make the victim whole again.

Identity theft is an increasing epidemic. Some of the ways a person can commit identity theft would be using someone’s personal identification information for financial benefit. Some the ways a perpetrator

If a parent or guardian uses someone's personal information who is eighteen years or younger or sixty years and older will also be charged with a second-degree felony. By using deceased person's personal identification a person will be charged with a second-degree felony.

If there are also monetary benefits from utilizing a deceased person's personal identification and the amount perpetrated is 5,000 or more with the use of ten or more deceased people but less than twenty there will be a mandatory three years in prison sentencing.

Investigation Process for A Victim of Identity Theft In order to assist a victim of identity theft there several steps, a Forensic Accountant must ensure the victim is able to recover the damage caused by the fraudster. The Fraud

Investigation process involves systematically gathering and reviewing evidence for the purpose of documenting the presence or absence of fraud. (Hopwood, Leiner, & Young, 2012) A

Forensic Accountant must take four steps in the investigation process which includes the engagement process, the evidence collection process, the reporting process and the loss recovery process. The Engagement process is the various steps that begin with investigator's first

Conclusion

Identity theft is a growing problem around the world. Perpetrators can use other individual's personal identification information to commit fraud. The different types of identity theft are financial, driver license, medical, child identity theft, and synthetic identity theft. It is important to safeguard personal identification by checking credit reports, shredding pre-approved applications or bank statements, and keeping confidential information stored in a safe place. As a synopsis of The Florida Identify Statutes, it's illegal to use another person's personal identification information without their consent. There are different charges of felonies and misdemeanors associated with the severity of the crime. As a Forensic Accountant, the process to help a victim include initiating the engagement process, the evidence collection process, the reporting process and the loss recovery process in order complete the identity theft investigation and to ensure the victim is made whole