Most identity fraud caused by stolen personal items: study

M. R

Interesting article...the data in the study seems to perfectly match my data (I am an Identity Restoration Consultant for major insurance companies in Canada). In fact, stolen personal information such as driver's license, Social Insurance Number, etc..represent 74% of my cases. I would like to comment on what Tony Poulton said:

1- Identity theft refers to fraudulent use of a person's personal information for fraudulent purposes. In cases wherein a rogue uses your good name to rack up credit card debt, they in fact commit Identity Theft. What you refer to as 'Credit card fraud' is their mean to commit the crime.
2- "This henious crime, not in any law book"... FYI, Identity theft is now an offence under the Canadian criminal code although not many identity thieves, to my knowledge, are in prison for committing this crime.
3- "this crime is CREDIT CARD FRAUD"...again, credit card fraud is a creative way to steal money using your name (using someone's name for fraudulent purposes constitutes identity theft). I trust the distinction is clear now between CC Fraud and IDT.

This said, insurance companies offer identity theft insurance as an endorsement to your home policy and the cost is minimal (around $30.00/year...yes it's not a typo). This is a valuable addition to your policy should you become a victim of identity theft and could end up saving you thousands of dollars in legal fees and lost income.

Posted December 5, 2012 04:18 PM

PA Tony Poulton .CAIB

This is not suprising as what is at issue here is not 'Identity theft' or this new hybrid term 'Identity Fraud'... What is really going on here is 'run of the mill' Credit Card Fraud.... Years ago, credit card companies (Bankers typically) would compain ad nausium about the billions of dollars lost to credit card fraud. The public had about as much sympathy for this as they typically do for convicted child abusers.

One day someone in Marketing (I'm fairly certian it was a Canadian Chartered Bank) came up with the term "IDENTITY THEFT"- they sponsored huge symposiums, flying Police specialist in to Montebello resort (and others) wined/dined and reported on this henious crime (not in any law book) Yes, there is no such thing as ID theft, the crime is CREDIT CARD FRAUD, or now, the hybrid term thats evolved ID Fraud.. Either way this 'research' makes it clear that crooks are after your plastic- once they have its its easy for them to perform C.C.fraud. T

Posted November 29, 2012 04:41 PM