Bad Credit

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34468054 - social security card and us currency one hundred dollar bill

Unless you have a large stash of cash at your disposal, you have to borrow money to buy things you need or want. Large ticket items, like a new house or automobile usually require a loan from a financial institution. (Or you could try the lottery.)Source: Today’s ”Fraud of the Day” is based on a press release from the Office of the Inspector General, Social Security Administration titled, ”18 People Arrested for Involvement in ID Theft Scheme that Used Stolen SSNs,” released on September 13, 2013.

WASHINGTON, DC – Joseph H. Hogsett, the United States Attorney, announced today the arrest of eighteen defendants for their alleged involvement in a scheme that involved the use of stolen Social Security Numbers (SSNs) surreptitiously marketed as Credit Profile Numbers (CPNs) to fraudulently apply for dozens of car loans.

This alleged scheme victimized not just dozens of local businesses, but also innocent individuals across the country whose identities were stolen, Hogsett said. The threat posed by identity theft is real and growing, but the U.S. Attorney’s Office and our federal partners have redoubled efforts to combat this dangerous trend.

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