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?Types of Identity Theft Crimes

Reports of identity theft and fraud top the Federal Trade Commission's (FTC) list of consumer fraud complaints this year and have every year since 2000. In fact reports of fraud and identity theft make up about 39% of consumer complaints with fraud resulting from Internet auctions in second place with about 16% of consumer complaints.

Identity theft is a major problem for consumers today. With the inception of the Internet, more and more innocent people are finding themselves victims of identity theft and fraud. These crimes include credit card fraud, stolen bank funds, and even stolen identity theft by criminals looking to escape prosecution for their crimes.

Credit Card and Loan Fraud

The easiest and most popular fraud resulting from identity theft is credit card fraud. Once a person's information is stolen, thieves use it to open credit accounts or use existing credit card accounts and purchase extravagant items with no intention of ever paying for them. Luckily credit card companies are forgiving in these situations and few hold you liable for any charges that are made as a result of identity theft and fraud, not even for the fifty-dollar limit the government allows.

A related form of identity theft fraud is obtaining personal loans in the victim's name. These types of debts can be more difficult to deal with than credit cards. Additionally lenders have made it so easy to get a loan that it can be difficult to prove that the loan wasn't really taken out by you. Imagine finding that a person you have never met took out a $45,000 loan in your name that has pretty much destroyed your credit rating and you'll begin to understand how devastating identity theft and fraud can be to its victims.

Identity Theft and Your Good Name

Criminals don't always go after money when it comes to identity theft and fraud. Some criminals take over a victim's identity when they have committed a crime. This type of identity theft can create big problems for the victim. Now they have a criminal record and it takes a while to correct this mistake.

For example, an identity thief is pulled over for speeding and gives the stolen identity to the cops. Years later the victim may find a warrant for their arrest as well as a pile of court fines in their name that need to be paid.

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