Identity Theft

What does Identity Theft mean?

Identity theft occurs when someone steals and uses your personal information without your permission. This can include your name, Social Security number, credit card numbers, bank account numbers, or other Sensitive Information. Identity thieves may use your stolen information to open new credit accounts, Make fraudulent purchases, file tax returns, or even obtain medical care in your name.

Identity theft can be a devastating crime, as it can damage your credit, finances, and reputation. It can also be very difficult to recover from identity theft, as it may take months or even years to clear your name and repair the damage that has been done.

Applications

Identity theft is a growing problem in technology today. As more and more businesses and government agencies move their operations Online, there are more opportunities for identity thieves to steal personal information.

Identity theft can be used for a Variety of purposes, including:

• Financial gain: Identity thieves may use your stolen information to open new credit accounts, make fraudulent purchases, or file tax returns in your name. They may also sell your information to other criminals on the black market.
• Medical fraud: Identity thieves may use your stolen information to obtain medical care in your name. This can result in you being billed for services that you did not receive, or being denied coverage for services that you do need.
• Government benefits fraud: Identity thieves may use your stolen information to apply for government benefits, such as Social Security or unemployment benefits. This can result in you being denied benefits that you are entitled to.
• Reputation damage: Identity thieves may use your stolen information to create fake online profiles or post damaging information about you. This can damage your reputation and make it difficult for you to find a job or obtain credit.

History

Identity theft has been around for centuries, but it has become increasingly prevalent in recent years due to the rise of the internet and the availability of personal information online.

The first known case of identity theft in the United States occurred in 1876, when a man named William H. Bonney stole the identity of a Civil War veteran named Henry McCarty. Bonney used McCarty’s name and military record to obtain a passport and travel to Mexico, where he became known as Billy the Kid.

In the early 20th century, identity theft was often used by criminals to obtain credit or avoid arrest. However, it was not until the 1980s, with the advent of the personal computer and the internet, that identity theft became a widespread problem.

Today, identity theft is one of the most common crimes in the United States. In 2021, there were over 1.4 million reported cases of identity theft, with losses totaling over $56 billion.