IdentiProof.com

Identity theft is a federal offense under the Identity Theft and Assumption Deterrence Act. It occurs when a con artist uses your personal information, such as name, address, social security number, credit card number, date of birth to create a clone of identity, which then buys merchandise, takes loans and makes other financial transactions. The impersonator keeps the loot, while you are here? Trouble with bad credit. Identity theft scams have received their fair share of media attention in recent years.

The crime of identity theft has reached epidemic proportions, with identity theft scams making headlines more and more every day. One of the high-profile fraud involving identity theft in New York City restaurant busboy, Abraham Abdallah, is the largest identity theft in Internet history. Abdallah, a 32 year old dropout from high school, has violated the private finances of 217 of the Forbes 400 richest people in America. Using a pair of web-enabled mobile phones, voicemail, and a virtual public library computer, the “waiter”, is said to have guessed the password of his favorite tycoons, enter personal information so conveniently available in Forbes magazine, swiped numbers social security, and access to brokerage accounts.

Soon Abdallah forged bank clerks clerks multiple couriers to escape detection, and had credit cards in Steven Spielberg, Martha Stewart, Oprah Winfrey and Ted Turner names! Law enforcement officers called it one of the most ambitious identity theft scams they had ever seen, a hi-tech Hollywood proportions. Although the police arrested Abdallah five years ago, are still trying to trace the complex electronic trail to figure out exactly how much money has been hijacked.

Of recent high-profile identity theft scams, the Mphasis BFL – Citibank case is particularly noteworthy because of the ease with which five young employees MsourcE, a call center in India would pull out of financial assets fraud Almost half a million dollars. The defendants were not fanatics, and do not break through firewalls or decoded encrypted software. Instead, they devised a simple modus operandi. Being the authorized e-banking service providers and Citibank, MsourcE these employees were aware of confidential information of account holders different. The only pieces missing were the passwords, which these employees apparently got by “sweet talk” account holders.