Identity Theft Essay

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It Can Happen To You: The Importance of Protecting Your Identity University of Maryland University College The Business of Theft Identity Theft. Often called “The Crime of the 21st Century”, is the practice of stealing or taking on someone else’s identity for mainly monetary gains and purposes by gaining access to private information and records. For the thief, there are plenty of potential “benefits” to gaining access to another person’s identity which are divided into five categories. Those categories are: Criminal Identity theft, Financial Identity Theft, Identity Cloning, Medical Identity Theft, and Child Identity Theft. Criminal Identity Theft is usually when the thief assumes the victim’s name or persona to commit crimes, or poses as the victim when apprehended. The next category is the most common category which is Financial Identity Theft in which the thief utilizes the victim’s identity to obtain credit, loans, goods, and services which are then exploited and almost always impacts the victim’s credit negatively. Another common form of identity theft is Identity Cloning which is used in which the thief assumes the victim’s identity in daily life. A few examples of Identity Cloning would be Illegal Immigrants and Posers (many posers are present on social media networking sites). Medical Identity Theft includes thieves who seek medical attention or health benefits under someone else’s name. Also, Child Identity Theft has grown more common since it can go undetected for years and a significant amount of damage can be done. It is when a minor’s social security number is used by another person for their own gain. There are many more forms of Identity Theft, but the five listed above are the main forms of Identity Theft being reported annually through the United States of America. There is a huge black market demand for identity theft, tipping the billion

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