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.
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.
The amount of time for this type of fraud to be discovered can vary. Credit card fraud, better known to others as identity theft, can cause great turmoil in a person or family’s life by taking away their sense of security. Credit card fraud does not mean, necessarily, that a person has to have the card; the only thing a person really has to have is the card number, expiration date, and the three-digit card verification number on the back with the card holder’s name. In most cases of credit card fraud the person committing the fraud actually knows the person quite well and the address to where the bill is sent. With all of this being said, when it comes to you or your family’s finances be careful.
There are many types of identity theft such as; criminal, synthetic, medical, and financial. All of which affect the victim differently. Criminal identity theft is basically that someone impersonates an unknowing victim; the offender might commit fraud or any il... ... middle of paper ... ... 200JODs or more than 1000JODs the offender might also be charged with both. Conclusion: Identity theft is as stated in the introduction a Universal issue. Although there are various researches on the topic yet still there are gaps and work yet to be done.
Banks could be one of the most useful tools in stopping the laundering of money. As mentioned earlier money laundering is the process of hiding profits from illegal criminal activities. The major goal of these criminal activities is to make as large of a profit as possible. The money laundering process is very important to these criminals because it allows them to enjoy their profits without revealing the source. When one of these activities generates large profits, the group involved must find a way to disguise the funds without attracting attention towards themselves.
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.
The last form of identity theft I would like to discuss is identity cloning. This is when someone actually pretends to be someone else in order to elude law enforcement. They maybe a illegal immigrant looking for work in another country or they maybe someone running from police in another state who has committed a crime. In conclusion, it is easy to have your identity stolen but I could be very difficult to clean up the damaged caused by someone stealing it. So please be carefully and safeguard all of your personal information if you have to provide this information only give what is needed.
Fraud is a problem faced by society today. For years people have been misrepresenting themselves and their companies to unsuspecting victims who falls prey to their schemes. There are many different types of fraud one can participate in including management fraud, vendor fraud, employee embezzlement, investment scams and other consumer frauds. In this case study money laundering will be the highlight of this entire case. 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.
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.
Understanding the types and methods of identity theft can reduce potential victimization. Identity theft refers to unlawful activities which specifically compromise another person’s identity. According to the US Department of Justice (DOJ), identity theft is an activity “in which someone wrongfully obtains and uses another person’s personal data in some way that involves fraud or deception, typically for economic gain.” Such personal data can include names, Social Security numbers, birthdates, bank accounts, credit card numbers, or medical records. Identity theft can also be part of or enable other types of crimes such as bank, credit card, document, employment, or immigration fraud; robbery; and burglary, for example (Finklea, 2010, p. 2). Identity theft exists on a continuum with simple unauthorized credit card charges on one end all the way to having one’s identity completely assumed by another.