Identity theft is among the fastest growing financial crimes.
According to the American Banker, MasterCard reported that losses from identity fraud in 1996 were more than four times higher than in 1995. Financial crimes using that stolen identification are illegal and the financial institutions involved can seek prosecution and reimbursement. But, the innocent person's name, reputation and financial credit can be ruined in the process. One of our Southwest Missouri neighbors, Angela Williams, can attest to the harm identity theft can do both financially and personally. When she investigated she found that someone using her Social Security number had opened two phone accounts in Texas and a gas credit card account in Illinois.