Identity theft is not only one of the fastest growing crimes in the world, it is a nightmare for individuals to fix. Most people get their money back when they have been a victim of this crime. However, the time and effort that it takes to clear up the matter is the biggest headache. It can take hour after hour of paperwork, phone calls, and meetings to remedy this problem.
Criminals are getting more and more bold in their efforts to take others' identity. They will resort to all kinds of trickery to get some "free money". Each year there are more and more stories of data breaches at large companies that could lead to even more identity theft cases. Where will it end? The short answer is that it will never end, and we just have to be diligent in our efforts to protect our personal data.
As a reminder to be diligent, here are ten awful identity theft stories from the past few years.
1. Todd Davis, CEO of Life Lock, has had his identity stolen 13 times after posting his social security number everywhere to show how effective his company is against ID theft. That marketing effort was an ironic failure!
2. There are many cases of identity theft involving kids. One study showed that 10% of children under 18 had someone else using their social security numbers. These cases are harder to detect.