Thieves use the information to open credit accounts, get cash advances, IRS refunds, social benefits and loans. The Orlando Business Journal reported a case where an agent with sticky fingers acquired personal information and opened several credit card accounts. The thief made the minimum payments on the credit card accounts he opened under the victim s name. Eight years later when the cards were maxed out, the thief disappeared, leaving the victim with a huge bill. Convincing the credit card company that fraud had been committed was especially difficult for the victim since there was an eight-year history of payments.
Identity theft is a growing threat.
In 1997, the Social Security Administration investigated 1,153 cases of Social Security number fraud, up from 305 in 1993. D.C. To illustrate the severity of the situation, even the government got cautious and stopped printing Social Security numbers on tax forms mailed to taxpayers. Virtually all banks offering credit cards have had clients who were victimized by identity theft. When it comes to fraud, call centers have three major factors working against them. For one, more companies are using computers and networking which give employees greater access to company records.