According to Podgor, Ellen (1999) defines a fraud as “the aspect of the scheme to defraud is measured by a nontechnical standard. It is a reflection of moral uprightness, of fundamental honesty, fair play and right dealing in the general and business life of members of society”(p.734). In other word, a fraud seems to be od... ... middle of paper ... ...ystems that improve identity confirmation solutions while protecting privacy. Those steps recommend it to the government and the department who care about identity fraud. They should have useful solutions to eliminate it because many people are struggling from a fraud in the entire types, it is not only in the identity but the problem is becoming bigger every day because of the lack of knowledge of this issue.
Once armed with this information the thief can open accounts and rack up huge debts for goods and services. These criminals also open up various accounts ranging from cell phones to bank accounts. Once these accounts are established they don’t pay the bill and also write bad checks on that account. One way which criminals obtain your identifying information is through “SPAM” e-mails. These e-mails are unsolicited promising benefits requiring certain identifying information.
The text states, “With enough identifying information about an individual, a criminal can take over that individual's identity to conduct a wide range of crimes. For example, false applications for loans and credit cards, fraudulent withdrawals from bank accounts, fraudulent use of telephone calling cards or online accounts, or obtaining other goods or privileges which the criminal might be denied if he were to use their real name” (“What are identity Theft and Identity Fraud?”). When a thief does one of these things, the damage to your personal credit could be catastrophic. According to the Internal Revenue Service, the government agency responsible for collecting taxes, in April of 2017, a woman named Melissa Hayes deposited fraudulent tax refund checks that totaled to over $160,000. She was sentenced to 27 months in prison for her actions.
There are solutions to this problem that can be followed to ensure a solution to identity theft. In regards to identity theft, there are many legal issues that arise as a result of it being started. As stated before, having your identity stolen can be both emotionally and financially devastating. Usually, to steal ones identity, the perpetrator would dishonestly trick the victim into thinking they are a representative of legitimate company (bank, phone company). This can result in credit card fraud, document fraud, or employment fraud, which leaves the victim financially, broke.
And the most dangerous problem is victims can be accused of crimes that they have not committed. These are just a few reasons why Identity Theft is the most problematic social and economic problem in today’s society. Now a days, it’s important to own a clean personal record, however all which will change with fraud. The foremost common result of identity fraud is damaged credit. The criminal makes several charges in your name, does not pay the bill, and your credit suffers miserably.
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.
Introduction There is currently a huge growing number of criminals that now do greater and more widespread damage to their victims without ever meeting them. Identity theft surfaced in the early 1990s and turned peoples everyday transactions into a data gathering game. Bits of personal information such as bankcards, credit card accounts, income, social security numbers or just someone name, address, and phone numbers are now collected and could be used illegally by these individuals without anyone’s knowledge. The purpose of this study is to investigate what is being done to help control this growing crime in North Carolina. This includes the evaluation of the identity theft policies that the banks in North Carolina have in place.
Employees defraud companies with methods such as “fictitious revenues, concealed liabilities and expenses, and asset or revenue understatements or overstatements” where as fraud by a company happens by “providing incorrect or misleading information to shareholders or regulators, including financial reporting fraud – where incorrect or misleading information is provided for individual financial gain” (RCMP, para. 5). The Federal Bureau of Investigation [FBI] breaks down corporate fraud into three categories based on the action of the fraudster or fraudulent company. These categories are falsifying financial information or accounting schemes, self-dealing by corporate insiders and obstruction of justice (FBI, para. 16).
Executive Summery 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.
I have even been a victim of auction fraud. If one is not careful and is able to research who they are buying from to confirm they are a legitimate seller, then they are subjecting themselves to fraud. Some of the things, such as Ebay, has in process is a strong investigative team to investigate any cases of fraud reported, though it takes time. Other things in place are disclaimers warning people of fraud and what to do if they find themselves in a fraudulent situation. Two measures that law enforcement has been taken by law enforcement to combat auction fraud are to work with the FTC and companies like Ebay to track down the culprits and arrest them, as well as to assist the victim in the investigation and locate the merchandise that was bought.