Identity Theft

What exactly is Identity Theft?

Identity theft or identity fraud (true name fraud) is the taking of the victim's identity, without their permission, to obtain credit, credit cards from banks and retailers, steal money from the victim's existing accounts, apply for loans, establish accounts with utility companies, rent an apartment, file bankruptcy, to circumvent the criminal justice system, or obtain a job using the victim's name.

What Florida State Statute addresses Identity Theft?

According to Florida State Statute 817.568, any person who willfully and without authorization fraudulently uses, or possesses with intent to fraudulently use, personal identification information concerning an individual without first obtaining that individual's consent, commits the offense of fraudulent use of personal identification information.

Is Identity Theft considered a Federal Offence?

Yes. According to The Identity Theft and Assumption Deterrence Act, enacted by Congress in October 1998 (and codified, in part, at 18 U.S.C. 1028(a)(7)) identity theft is a crime. A conviction for this crime could result in 15 years of imprisonment; a fine and forfeiture of any personal property used or intended to be used to commit the crime.

Why should you be concerned about Identity Theft?

• Losses top $48 billion to U.S. Businesses in 2002. This is more than some Country's GDP
  
• 9.9 million people were victimized in 2002. That equates to over 27,000 incidents per day, over 1,100 incidents per hour, and nearly 19 people in the United States are victimized per minute
  
• Many criminals net large rewards by assuming your identity. The average bank robbery yields $3500 while the average take on Identity Theft is nearly $5000
  
• According to Law Enforcement the average arrest rate is under 5% of reported incidences
  
• Even if these criminals are convicted the penalties are minimal for this type of crime. If a person is convicted of a bank robbery the average sentence is 13 year and if an individual is convicted of Identity Theft he/she will likely serve less than 5 years
  
• Identity theft is the fastest growing crime in the nation
  
• It takes approximately 12.7 months between the date your identity theft occurred and the time you notice it has been compromised
  
• Florida ranks 6th in the nation for the number of cases reported per capita. Orlando ranks 2nd amongst cities in Florida for the number of victims per capita
  
• Individuals have a one in four chance of becoming a victim in his or her lifetime

How is your identity compromised?

• Lost wallet recovered by an undesirable
  
• Stolen credit cards and checks
  
• Waiters/waitresses in your favorite restaurant (Skimming)
  
• Doctor's or Dentist's office where a dishonest employee works
  
• Accountant's office where your personal information has not been properly protected
  
• Your employer who has not secured employee files
  
• Change of address forms that have landed in the hands of a criminal
  
• Health insurance carrier that has not properly disposed of your personal information
  
• Check processing center
  
• Standing in lines where a criminal can simply look over your shoulder to get your personal information
  
• Dumpster diving. Yes, these criminals will go through your trash or a business' trash to get your personal information
  
• Local bank who has hired an unethical employee
  
• Your mailbox is a prime target for getting credit card and personal information (Mailboxing)
  
• Internet use where sites serve as fronts to obtain your personal information (Phishing)
  
• Friends and family (Very common)
  
• You personally

Do you know who's in your wallet?

These criminals can be anyone they want. They could be you next!!!

"Identity Theft: Protect Yourself" Video
Copyrighted and all rights reserved by The Federal Reserve Bank of Boston

Real One Version	Windows Media Version
Download Real One	Download Windows Media