Hi-Profile Identity Theft Scams
Identity theft is a federal crime under the Identity Theft and Presumption Deterrence Act. It happens when a con performer uses your personal details, such as name, mailing address, Social Security number, credit card number, birth date to set up the clone identity, which in turn buys merchandise, requires loans and can make other financial purchases. The impersonator keeps the actual loot, while you get stuck with all the bad credit. Identity theft scams have received their fair share of media consideration in recent years.
The criminal offense of identity theft provides reached epidemic proportions, along with identity theft scams producing headlines more and more every day. One of the high-profile identity theft scams involving a New York’s restaurant busboy, Abraham Abdallah, is the largest identity theft in the history of the Internet. Abdallah, a 32-year-old high school dropout, breached the private finances of 217 of the Forbes 400 wealthiest us citizens. Using a few web-enabled cellular phones, virtual voicemail and a public library computer, the so-called \”busboy\” is said to have guessed the passwords of his favorite tycoons, input personal information so conveniently available in Forbes newspaper, swiped Social Safety numbers, and used brokerage accounts.
Soon Abdallah forged bank’s stationeries deployed multiple couriers to escape recognition, and had credit cards in Steven Spielberg, Martha Stewart, Oprah Winfrey and Ted Turner’s titles! Law enforcement officers referred to it as one of the most ambitious id theft scams they had ever seen, a hi-tech scheme of Hollywood proportions. Although police arrested Abdallah five years ago, they are nonetheless trying to trace the complex electronic path to figure out exactly how much money was siphoned.
Of the recent high-profile identity theft scams, the MphasiS BFL – Citibank case is particularly remarkable, because of the ease that five young workers from MsourcE, an Indian native call center allegedly achieved a financial fraud well worth nearly half-a-million dollars. The actual accused were no geeks, and did not break through fire walls or decoded encrypted software program. Instead, they devised a simple modus operandi. Being the particular authorized e-banking service providers to Citibank, these MsourcE employees have been privy to confidential details of various account holders. The only pieces missing had been the passwords, that these employees evidently got by \”sweet-talking\” the account holders.