Hi-Profile Identity Theft Scams

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Identity theft is really a federal crime beneath the Identity Theft and Presumption Deterrence Act. It happens when a con artist uses your personal information, such as name, sending address, Social Security number, credit card number, birth date to set up the clone identity, which in turn buys merchandise, requires loans and tends to make other financial dealings. The impersonator keeps the loot, while you get stuck using the bad credit. Identity theft scams have received their fair share of media attention in recent years.

The crime of identity theft offers reached epidemic proportions, together with identity theft scams making headlines more and more every single day. One of the high-profile identity theft ripoffs involving a New York’s cafe busboy, Abraham Abdallah, is the largest identity theft in the history of the net. Abdallah, a 32-year-old high school dropout, breached the private finances of 217 of the Forbes 400 wealthiest people in the usa. Using a few web-enabled cell phones, virtual voicemail along with a public library personal computer, the so-called “busboy” is said to get guessed the account details of his favorite tycoons, input personal information therefore conveniently available in Forbes newspaper, swiped Social Safety numbers, and accessed brokerage accounts.

Shortly Abdallah forged bank’s stationeries implemented multiple couriers to escape detection, and had credit cards inside Steven Spielberg, Martha Stewart, Oprah Winfrey and Ted Turner’s titles! Law enforcement officers called it one of the most ambitious id theft scams they had ever seen, a hi-tech scheme regarding Hollywood proportions. Even though the police arrested Abdallah 5 years ago, they are nevertheless trying to trace the particular complex electronic trail to figure out exactly how much money had been siphoned.

Of the recent high-profile identity theft scams, the MphasiS BFL – Citibank case is particularly noteworthy, because of the ease with which five young staff from MsourcE, an Indian call center allegedly achieved a financial fraud really worth nearly half-a-million dollars. The actual accused were absolutely no geeks, and failed to break through firewalls or decoded encrypted computer software. Instead, they created a simple modus operandi. Being the authorized e-banking service providers to be able to Citibank, these MsourcE employees had been privy to confidential information on various account holders. The sole pieces missing have been the passwords, which usually these employees apparently got by “sweet-talking” the actual account holders.

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