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Resource ID: #13958
Source:ABC News Primetime Live
This piece exposed the growing white-collar crime called "True Name Fraud." Without a person's knowledge, their name and social security may be stolen and their identity duplicated to steal thousands of dollars from stores, car dealers, and financial institutions. Experts believe millions of American s are victims of this fraud at a cost of three billion dollars a year. Identity can be obtained through stealing a wallet, rummaging through garbage, breaking into a locker or opening up a mailbox. Once the thieves have the social security number of an individual, a photo ID is made which enables them to obtain instant credit at stores, and open bank accounts with all correspondence sent to new addresses. It may take several months before an individual realizes they have been victimized and even years to clean up their credit record. (September 11, 1996)