Читать книгу THE LIFEBOAT STRATEGY - Mark Nestmann - Страница 26

Imagine having creditors hounding you to pay debts you never incurred – foreclosing on your legitimate property, hauling you into court, or even asking police to take you into custody. You can’t buy a house, rent a car, or open a bank account, all because “the computer” shows that you’re a deadbeat. You know it’s not true, but convincing anyone else that the computer is wrong can almost be impossible.

This nightmare is called identity theft. And it’s the fastest growing crime in America. In 2008 alone, nearly 10 million Americans experienced some type of identity theft.51

• Debra and Robert Guenterberg live in Wisconsin. In 1995, Robert tried to buy a truck, but couldn’t obtain financing. He also was turned down for a mortgage and credit cards. Then collection agencies began harassing the Guenterbergs. It turned out that identity thieve had found Robert’s Social Security number and had used it to purchase three homes and numerous cars. They’re still trying to clean up the mess. More than a decade later, Robert still couldn’t open a checking account because his SSN was tied to one of the thieves. 52

• A pickpocket stole Margot Somerville’s wallet in 2006 on a San Francisco streetcar. Nearly two years later, police arrived at her home and led her away in handcuffs. Prosecutors in Colorado had issued an arrest warrant for her, claiming that she had stolen more than $60,000 from local bank accounts with fraudulent checks. Facing 19 felony counts, Somerville hired a criminal defense attorney and spent more than $50,000 to prove she wasn’t the culprit, but the victim. 53

• Los Angeles resident Linda Weaver was billed $60,000 for an amputation of her foot that never occurred. When she contested the bill, hospital officials cited federal privacy laws as a reason to refuse access to her own medical records to learn who had stolen her identity.54

A “typical” identity theft victim’s financial losses can run $36,000. And this doesn’t include what victims have to pay to creditors defrauded by impostors. It only includes legal expenses, lost wages, and lost time.

The damage to victims is compounded when bogus information is transferred between credit bureaus or other companies. Even if the original mistake is corrected, it can be difficult or impossible to persuade companies or law enforcement to remove the incorrect information or drop a criminal investigation.

Erroneous data can lead to decisions to deny a person the most basic privileges. Private data banks indexed by Social Security numbers track worker’s compensation claims or “problem” tenants. A “hit” based on an erroneous report can make it difficult or impossible to obtain employment or housing.

A recent trend in identify theft is for criminals to set up online data warehouses of stolen personal data for sale to prospective data thieves. For those with access to such warehouses, identity theft is as easy as “point and click.”55

One factor leading to the explosion in identity theft is the proliferation of information in the hands of banks, retailers, and private data warehouses. Computer hackers and fraudsters target the databases on which this data resides, often with devastating results. For instance, in 2007, retailer TJX, which owns T.J. Maxx and Marshall’s, revealed that data from 45.7 million credit and debit cards had been stolen in a computer security breach.56

An even larger data breach occurred in 2009. Heartland Payment Systems, one of the largest credit card payment processing companies in the United States, revealed that hackers had broken into its networks and stolen data on more than 130 million credit and debit cards. 57

Another identity theft scam tries to get you to launder money for criminals who steal your identity. Victims risk not only identity theft, but also criminal prosecution for wire fraud and money laundering. Scammers offer positions on online job sites such as “finance manager” or “accountant.” In most cases, the job involves wiring stolen money from one account to another. 58

Fortunately, it’s easy to protect yourself from most common means of identity theft. The most important measures include sending and receiving your mail in a locked mailbox and avoiding disclosure of your SSN. These simple steps go a long way toward protecting your privacy. Chapter 3 contains additional suggestions.