Identity theft Name Institution Definition Identity theft is the act of stealing someone’s identity where someone pretends to be another person by assuming their identity. The motive of identity theft is to obtain access to resources or credit and other benefits in that person’s name. The victim, whose identity is stolen often suffers adverse consequences as a result of the action of the perpetrator. The perpetrator obtains these benefits by using the victim’s name, social security number, identification number or credit card number to commit fraud. In order for an act to be identity theft, the perpetrator must use the acquired personal information to obtain an advantage (Berghel, 2000).
With all of this being said, when it comes to you or your family’s finances be careful. Someone you think you know and trust can very easily steal your credit card information, or even personal information to use for his or her own personal gain. Credit card fraud is just as simple as ordering things over the Internet or the phone. A person can make a copy of your card and use it with few, or no, ... ... middle of paper ... ...redit card fraud the amount of time it takes for the crime to be discovered can vary. When the card itself is stolen, the theft may be determined quickly, but in cases where a person’s personal information has been stolen, it can take far longer.
The issues associated with identity theft. The most commonly affected sectors Technologies and techniques utilized/implemented by organizations to combat it. Data mining techniques utilized to implement algorithm mitigating identity theft. 2. TYPES OF IDENTITY THEFT: Usually an identity thief goes after a specific set of sources that could help him steal the person’s identity easily.
Identity Theft According to Margaret Rouse, “Identity theft is a crime in which an imposter obtains key pieces of personal information, such as Social Security or driver 's license numbers, in order to impersonate someone else”. There are two types of identity theft. This includes true name and account takeover. True name identity theft is when the “thief uses personal information to open new accounts” (Rouse). When the “imposter uses personal information to gain access to the person 's existing accounts” (Rouse), it is considered account takeover.
Money laundering rewards corruption and crime and damages the integrity of the society and undermines democracy and the rule of law (Hopton, 2009). There have been many anti money laundering assessments implemented to try to prevent the act of money laundering. One of the first ways was to put into action some legal acts that would enforce the financial businesses and banks to cooperate with the crime by reporting things that became suspicious. That is when the Bank Secrecy Act was passed. This was meant for all managers and employees to report any type of activities that they felt were not normal.
Retrieved from: http:go.galegroup. com.ezproxy.fau.edu/ps/i.do?id=GALE%7CA233963353&v=2.1&u=gale 15691&it=r&p=AONE&sw=w&asid =61ce05cd2368e9b68cbaa4281d3d32ec U.S. Department of Justice. (2013). Identify theft and identify fraud. Retrieved from http://www.justice.gov/criminal/fraud/websites/idtheft.html.
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. What is Identity theft? Identity theft is when someone gathers your personal information and uses it against you illegally.
Identity theft can be categorized in two ways: true name and account takeover. True name identity theft means the thief will use the personal information they stole to open new accounts. The thief could open a new credit card account, establish cellular phone service, or open a new checking account in order to get blank checks. Account takeover identity theft means the thief uses personal information to gain access to the person's existing accounts. That individual ends up changing the mailing address on an account and they can run up a huge bill before the person whose identity has been stolen realizes there is a problem.
Money laundering can be defined as the process by which one conceals the existence, illegal source, or illegal application of income, and disguises that income to make it appear legitimate. In other words it is a process used by criminals through which they make “dirty” money appear clean from illegal activities such as drug