|
|
The objective of this website is to inform
on the subject of Identity Theft
("I-jacking").
This crime is usually
perpetrated with the aim of obtaining money by
false pretences through credit
fraud.
Credit
fraud is easy, lucrative and carries a very low
chance of conviction and
punishment.
|
Unsurprisingly, identity theft credit
fraud is now a major organized crime money spinner (rivaling
narcotics even) and continues to grow fast.
Unfortunately, credit fraud often
continues for many months before the victim realizes what is
happening. The average loss is about $80,000 - about
80% at the expense of banks and other financial
institutions. The average un-recovered personal loss
falling on individuals is around $16,000.
In addition to direct financial loss,
victims report ongoing consequences including protracted and
difficult negotiations to clear their name and recover credit
status.
Some are arrested for crimes committed in their
names.
The average victim spends 600 hours in
administration, negotiation and pure hassle to straighten out
the damage to their reputation and credit. The
experience is unpleasant and the other parties are
difficult to deal with - often extremely suspicious and
skeptical.
Many victims suffer long term psychological trauma as a result
of their experiences.
Like locking your home and car, you need
to take I-jacking seriously and take reasonable precautions to
protect yourself.
Fortunately, this need not be onerous -
see
I-jacking
7-point Protection Plan.
|