The Most Problematic Social and Economic Problem in Today’s Society

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Identity Theft might just be the most problematic social and economic problem in the US. Identity theft can cause many problems for the victim and the thief, obviously. One problem is the victims personal record, it is extremely important to have a clean one if you want to apply for college, buy a house, become a citizen, etc. Another problem is after the identity theft has taken their toll, the victim is suffering with trying to recover all the money that they have lost. 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. After you apply for a MasterCard, for mortgage, a replacement house, and more, Identity fraud strikes against you. “Correcting bogus charges and correcting your credit record takes time and loads of money” ("How do you help protect my identity”). The foremost common victims of fraud are kids. “If a childs identity is stolen, they may not find out for many years maybe not even till they attempt their first financial transactions” ("Crimes"). The harm from kid fraud will make it tough for your children to urge car loans, credit cards, student loans, or perhaps obtaining accepted into college. Once kid fraud victims become young adults, their dreams are typically in danger as a result of poor credit and alternative dishonorable actions. The impact of fraud on elderlies will be more maj...

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