Identity Theft

Identity theft is one of the fastest growing crimes in America. It has been a problem past many years.A dishonest person who has the Social Security number can use it to get other personal information such as bank details ets. Identity thieves can use the number and the good credit score to apply for more credit . Then, they use the credit cards and do not pay the bills. People may not  find out that someone is using their number until they are turned down for credit or to get calls from unknown creditors demanding payment for items they never bought.

Criminals have found many ways to hack the information of a common man and use them for the false purpose.Hacking is one of the high tech method for identity theft.

Here is one such article where a group of hackers stole millions of credit card numbers .“Federal authorities said Tuesday that they had cracked the largest case of identity theft in U.S. history, charging 11 people in the theft of more than 40 million credit and debit card account numbers from computer systems at such major retailers as TJ Maxx and Barnes & Noble.The three-year investigation by federal agencies and overseas allies brought home the global nature of the Internet's underground economy as agents tracked leads from China to Ukraine and picked up suspects in Turkey and Germany as well as the U.S.

The full scope of the damage may never be learned, but the Justice Department said the fraud reached at least into the tens of millions of dollars. Many potential victims have yet to be contacted.

"So far as we know, this is the single largest and most complex identity theft case ever charged in this country," U.S. Atty. Gen. Michael B. Mukasey said at a news conference in Boston, where he announced indictments handed up by grand juries there and in San Diego.Mukasey also thanked other countries for cooperating and helping to coordinate arrests.

To the chagrin of the U.S. Secret Service, which handles many electronic fraud investigations, the trail led back to one of its own informants, Albert Gonzalez. Justice Department officials said Gonzalez served as the ringleader and double-crossed the agency by tipping off his cohorts. Prosecutors said Gonzalez could face a life term in prison”.

Please see the link below for the complete article….

Reference:

http://articles.latimes.com/2008/aug/06/business/fi-hack6