Identity Theft: Oh No... Not Them

Daryl Campbell
 


Visitors: 411

You'll never hear the end of it if you decide to press charges. And besides you're not even sure you really want to do that. They might pay you back the money. Not. The burden is on you to sort this mess out and the worst part is once a relative or friend steals your identity, it's almost impossible to trust them again.

We hear about the high profile cases of hackers breaking into the databases of Lexis Nexus or DSW Shoe warehouse, yet most instances of identity theft never make the news. Usually it's something basic like a neighbor stealing a credit card application from your mailbox or a relative going thru your personal belongings

In the Better Business Bureau's 2005 Fraud Survey report they found relatives, close friends and neighbors make up 50 percent of all identity thieves. They also cost you more time and money trying to fix the problem. Javelin Research calculates that the average cost to identity theft victims is $15,607 when the perpetrator is known.

But even that figure is misleading. Many children are falling victim to identity theft (a half million last year according to the Federal Trade Commission) which means the full impact of the damage may not be known until years later when as adults they apply for credit.

For some parents, stealing their child's identity is a stop gap solution. Their own credit is destroyed, so “borrowing" their child's social security number becomes a necessity. All the while, they assure themselves the money will be paid back. Yet the same pattern that destroyed the parent's credit, now puts a negative on the child.

It doesn't matter if the thief is a parent, sibling or best friend, the process of recovering your identity is a tough one and it gets more complicated. Should you report the crime?

"Frequently when we would break up a ring and get a list of victims and find family members were involved in the crime, relatives are very reluctant to co-operate" says Ken Hunter, former Chief Postal Inspector and current president of the Council of Better Business Bureaus.

According to a study done by Gartner, Inc. , the chances of an identity thief getting prosecuted are 1 in 700. However, when a relative is the culprit those odds go through the roof. The attitude understandably becomes, “Yes, they did me wrong but I can't send them to jail. "

Ken Hunter: “If it's a matter of pilferage at a very low level, nothing much is really going to happen to that person. "

On the other hand, if your identity is used to commit crimes on a higher scale, by all means report it to the authorities. You may feel guilty and make a lot of people angry in the process. Families get torn apart because relatives feel the matter should stay private.

It's a tough decision, but remember, this is your good name the identity thief destroyed, not your relatives and it's you who may be wanted for a crime, not them.

Daryl Campbell is a writer and home business owner. Nearly one in five Americans have experienced identity theft. Not surprisingly, many Americans say they are concerned about identity theft - but few have done anything to prevent it. Don't wait until it happens, get peace of mind today. http://digbig.com/4dwsx

(575)

Article Source:


 
Rate this Article: 
 
Revealed - Identity Theft! Does Corporate America Steal Your Identity? 10 ..
Rated 4 / 5
based on 5 votes
ArticleSlash

Related Articles:

Identity Theft Prevention - Prevent Identity Theft From Happening When You Shop .

by: Caleb Liu (December 06, 2008) 
(Legal/Identity Theft)

Try Our Identity Theft Protection Quiz Are You Safe From Identity Theft?

by: Jenna Scaglione (June 19, 2008) 
(Legal/Identity Theft)

Recovering From Identity Theft? 4 steps To take if A victim of identity theft?

by: William McRand (July 16, 2007) 
(Business/Marketing)

Identity Theft Protection And Prevention - How To Protect Yourself From ..

by: Pete Marks (February 11, 2008) 
(Legal/Identity Theft)

Identity Theft Fact! Take These Steps To Not Be At Risk of Identity Theft.

by: Clyde Whyte (November 04, 2010) 
(Legal/Identity Theft)

Identity Theft is Real - An Identity Theft Prevention Primer

by: Tyler Previd (August 13, 2008) 
(Legal/Identity Theft)

Identity Theft - The Most Common Mistakes After Identity Theft Occurs

by: Darrell Causey (June 15, 2007) 
(Legal/Identity Theft)

Identity Theft Protection - Getting Identity Theft Protection From Your Credit ..

by: Caleb Liu (December 22, 2008) 
(Legal/Identity Theft)

Protecting Yourself From Identity Theft - Ultimate 7 Tips For Avoiding ID Theft

by: Duncan Roberts (July 20, 2006) 
(Legal/Identity Theft)

Revealed - Identity Theft! Does Corporate America Steal Your Identity? 10 ..

by: Montana Gray (April 05, 2008) 
(Business/Careers Employment)