Identity theft is a growing concern in our digital age, impacting millions of individuals and businesses each year. This crime involves someone stealing your personal information for their financial gain, which can lead to devastating consequences such as damaged credit scores and long-term financial problems for victims.
If you suspect someone of emptying your accounts, creating new accounts in your name, or even fraudulently using your medical information, you have the right to take action. However, who is liable for stealing your identity? How do you hold them accountable? Understanding the layers of liability can help you navigate the complexities of recovery and prevention, and get the compensation you deserve.
Where did the criminal get your information?
Identity theft occurs when someone unlawfully obtains and uses your personal information, such as social security numbers, addresses, and bank accounts, typically for financial gain. There are numerous forms of identity theft, including:
- Unauthorized Account Use: This is when someone else uses your financial accounts for their financial gain. For example, someone may use your credit cards or bank accounts to make expensive purchases. In 2023 alone, credit card fraud cost Americans $23 billion.
- Identity Cloning: This is an extreme form of identity theft where a thief steals your personal information and assumes your identity to commit numerous other identity thefts.
- Creating New Accounts: Identity thieves often obtain personal information to create new bank accounts, credit card accounts, cell phone accounts, and other accounts in the victim’s name. Using these accounts, they steal significant funds and damage the victim’s credit score.
- Theft of Medical Information: Identity thieves also use personal information to obtain medical services and prescription drugs. Doctors often mistakenly document information about the identity thief that could lead to incorrect treatment and life-threatening consequences for the victim.
- Criminal Identity Theft: Criminal identity theft is a serious crime that occurs when someone uses another person’s identity to commit a crime. This can happen when a suspect in a criminal investigation gives the police the victim’s name or identifying information, such as a driver’s license or Social Security number.
- Business/Commercial Identity Theft: Business identity theft, also known as corporate or commercial identity theft, occurs when criminals pose as owners, officers, or employees of a business to illegally transact business and establish fraudulent lines of credit with banks and vendors.
While individuals can be held liable, it’s important to know that identity theft can be committed by any party with access to your sensitive information. These include banks and financial institutions, employers, creditors, hospitals, and government agencies. If your identity was stolen, immediately report the theft to authorities and credible financial institutions. Taking immediate action can help minimize damage and increase the chances of recovering your lost identity and money.
Legal protections for victims
In addition to individual actions, victims have legal protections and rights. The California Consumer Privacy Act (CCPA) regulates how companies in California collect personal information from California residents, including the requirements for verifications. As one of the broadest state-level privacy laws in U.S. history, the CCPA allows consumers to take legal action for statutory damages if a data breach meets certain requirements.
On a national level, the Fair Credit Reporting Act (FCRA) ensures that consumers have access to their credit reports and the ability to dispute inaccuracies. It also protects individuals from the negative impacts of identity theft on their credit scores. Additionally, the Identity Theft and Assumption Deterrence Act (ITADA) makes identity theft a federal crime with penalties of up to 25 years imprisonment and a maximum fine of $250,000.
What an attorney can do for you
Need help navigating the complex landscape of California identity theft and determining who to hold liable? If you’re an identity theft victim, knowing your rights can empower you to take action. That’s why working with Brennan Law firm, Los Angeles attorney for identity theft victims, makes a difference; we can be counted on to aggressively fight for your rights. With our support, you can reclaim your identity and pursue justice. Your fight against identity theft starts today.