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.
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. The commonly preferred sources are displayed in the following diagram. A person’s identity can be stolen physically or electronically. There are several ways in which one can steal a person’s identity. Here are the most common ways to steal one’s identity: Stolen Wallet – Taking wallet that a person missed accidentally or pickpocket.
In our current society, since there have been a great deal of technological advances made, it is easier than ever for a common criminal to steal a social security number, a bank account number, or any other piece of information which could help a criminal gain access to ones personal finances. Identity thieves can retrieve vital information in many different ways. They can look through your trash at home or at work and retrieve a discarded bill, a piece of mail, or a credit application. They can intercept your mail before it reaches you and take your social security or other information off of it. Identity thieves can pose as a telemarketer, claiming to represent a reputable charity or business, a bank, or even a credit-reporting agency.
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. With technology expansion, the Internet has definitely made it easier for an identity thief to use the information they've stolen because transactions can be made without having any personal interaction (Mathews, R. 2013). Identity theft impacts our society and people’s businesses. Identity thieves will use business owner’s personal information to open up new lines of credit, new accounts, and make large purchases. Unjustifiable accounts and unpaid purchases will result in collectors holding you personally accountable for the business debt until you can p... ... middle of paper ... ...sign up for a monitoring service that will alert you by email to changes in your credit report which is a helpful way to prevent identity theft (Gerstner, L. (2013).
This method is referred to as the easiest way to steal someones identity. This occurs when people simply just give away information like their address to strangers or when they are not safe online and their personal information can be accessible to anybody.The second category is known as offline methods.This category includes techniques like: dumpster diving, shoulder surfing, wallet or document theft, bogus phone call, skimming, pretexting and business record theft. The third category is refereed to as online methods. This includes ... ... middle of paper ... ... involves the loss of a victim who has not’t done anything wrong, therefore making identity theft un ethical. Conclusion In conclusion, identity theft is illegal, unethical and very dangerous to the victim.
Regardless of the approach, such types of theft have a thin threshold that allows them to be categorized as genuine “identity thefts” (Lenardon 43). Stolen credit cards may be used for fraudulent purposes and returned to the owner’s possession without them even realizing. Such misdemeanors take place over a span of several hours. In such a situation, it may be difficult to prove that identity theft occurred. More interesting is the rise in identity theft not as the final crime but as insurance cover for perpetrating new crimes.
Finally, if a customer lost or stolen their credit card, first they need to call the bank for freezing their account. The key is that customers should open message’s verification function when they cost or withdraw much money through credit card. These reasonable measures are able to help customers protect their credit card securities. But these measures also have more difficulties on some actions, for example, enacting law is not an easy thing. There need to make more efforts on many aspects.
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.
Such as, theft other people bank account so that theft other people money on their bank account and utilize network for deceit other people’s private information. Therefore, we need computer security for prevent these criminal cases. Computer security is information security applied network and computers. This is because, computer security can help our private information will not be leak so that criminals could not take advantages of us. Furthermore, computer security is software applied in computers and World Wide Web when we want to access web site in World Wide Web we will get variety of viruses.
It may lead you to be the victim of many crimes such as robbery and snatching bags. To prevent this from happening, people will save their money in the banks, but they will withdraw the money whenever they want to use it. Previously, people are not aware of the use of the internet, but now, everything can be done or solve by using the internet including the banking transactions. This kind of transactions is called online banking. Online