Types Of Identity Theft
The crime of Identity Theft and Identity Fraud usually falls into one of five primary categories. Some cases can, and often do, involve multiple categories.
FINANCIAL IDENTITY THEFT
The most common and recognized for of this crime, the thief acquires key information about the victim such as the victims name, Social Security number, date of birth, and other available information. The victim can be an adult, a minor or even deceased. The aspect of the crime is the identity theft. This allows the thief to misuse the victims information or identity.
Armed with the victims information, the thief may obtain credit cards, loans, merchandise, homes, vehicles, vacations and more in the victims name running up thousands of dollars of debt in a short time.
CRIMINAL IDENTITY THEFT
In this form, the thief may know or obtain a victims basic information (drivers license, ID cards, birth certificates, Social Security cards) in the victims name. Then use the victims identity to obtain employment, to commit or distance themselves from crimes, or provide the victims information when questioned by law enforcement. This form of identity theft is more difficult to discover and normally will not appear on a credit report.
These cases can have the end result of an erroneous criminal record for the victim, outstanding arrest warrants and even temporary imprisonment. In some cases a victim could even be fired from their place of employment due to an undisclosed conviction.
MEDICAL IDENTITY THEFT
With this crime, thieves use a victims information to obtain health and other medical benefits and services. In addition to fraudulent billing, there is even more disturbing, ad potentially life-threatening danger erroneous medical files. Victims may also discover unexpected medical insurance benefits coverage has been depleted, that they no longer qualify for medical or life insurance, notice of cancellation or increase in their insurance premiums. Errors in medical files can be very difficult to not only detect but to correct.
IDENTITY CLONING
Here the thief completely assumes the victims identity to begin a new life. The thief openly lives and works as the victim. In some cases the thief may even collect tax refunds and receive other benefits due the victim, obtain professional licenses, be married, have children, or file for bankruptcy ---- all in the victims name. These thieves usually have something to hide. They sometimes are criminals, fugitives, illegal aliens or people with poor work or financial history.
BUSINESS COMMERCIAL IDENTITY THEFT
Identity Theft against a small business can be totally devastating on the business and the owner. In many cases the business credit and the owners credit are one in the same. The owner may be personally guaranteeing a business loan or line of credit or may be using their own personal credit to finance the business. The business ability to continue to operate may be severely affected if a loan were called early due to a credit risk, or denied altogether, or if the interest rates on key credit accounts were increased due to a universal default clause. If the business can no longer operate, the owners ability to earn a living will also be at risk.
Learn more at http://www.IdentityTheftAmerica.com
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