Identity Theft Reaches All Time High
A new report says that more than 15 millions Americans were victims of identity theft in 2016. The study released by Javelin Strategy and Research found that despite industry efforts, identity theft increased 16 percent from the year before. This marks a record increase since Javelin began tracking in 2003. Fraud losses totaled 16 billion dollars in 2016. The report also found that those who shop online and actively use social media are at a higher risk of having their personal information taken and that cell phone users are increasingly at risk too. Javelin took over conducting the annual survey from the Federal Trade Commission.
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Law and Legal Definitions
Identity Theft: Identity theft is govened by federal and state criminal statutes. State laws vary, but typically define the crime to include an intent to use another’s identity to commit, aid, or abet any unlawful activity. More.
Fraud: Fraud is generally defined in the law as an intentional misrepresentation of material existing fact made by one person to another with knowledge of its falsity and for the purpose of inducing the other person to act, and upon which the other person relies with resulting injury or damage. More.
