The law the state of Ohio maintains on Identity fraud is strict due to the nature of the crime and the severity of the harm caused to individuals.
Identity fraud is a type of fraud that could cost people all their life savings if the perpetrator decides to wipe all the funds in their bank account with their personal identifying information.
Identity Theft Laws In Ohio
The law the state of Ohio maintains on Identity fraud is strict due to the nature of the crime and the severity of the harm caused to individuals.
Identity fraud is a type of fraud that could cost people all their life savings if the perpetrator decides to wipe all the funds in their bank account with their personal identifying information.
The crime that is Identity theft has become more renowned in the current world of social media and email.
Identity theft refers to the crime committed when an individual (otherwise known as “the perpetrator”) obtains the identifying information of another person (otherwise known as “the victim”) to open fraudulent accounts and commit other illegal acts.
These identifying information include birth date, surname, mother’s maiden name, and so on.
Stealing the identity of other people by the perpetrator is done in several ways, which include going through the mail or trash of other people and making use of technological means.
Identity Fraud
Identity fraud is a crime that can take several forms to manifest.
It could be in the form of pretending to be the victim, representing the personal identifying information of the victim as the perpetrators own, possessing the victim’s personal identifying information.
The crime of identity fraud regards as a felony charge in the fifth degree.
Provided that the total amount of money obtained from this fraudulent activity is more than $1,000, the offense moves to a fourth-degree felony.
It further moves to a third-degree offense if the total amount obtained is more than $7,500.
The total sum of money obtained has to be more than $15,000, and the charge moves to a second-degree felony; the punishment, however, ranges between two and eight years in prison along with a fee of a minimum of $150,000, with the restitution to pay the victim(s).
Security Freeze
In the state of Ohio, a victim and other consumers may submit a written request in the form of certified mail for a security freeze.
It administers the credit report and information of the state’s consumers within a few days after the certified mail is received.
Security Freeze prevents creditors from having access to the credit information and report of the consumers, which means no new amount can remove from the consumer’s account without their knowledge.
Security Freeze also prevents the victims of Identify theft from making further financial transactions from their accounts.
However, It is essential to check your credit report regularly to know when your account is safe from theft and when it is not, and take necessary actions when you begin to have suspicions.
Such action is the security freeze.
The reporting agency must notify the consumer concerning the freeze when it is in place.
They also provide a PIN to the consumer for use in the future.
This notification would be forwarded to the consumer within five business days after administering the security freeze.
Penalties
When an individual is charged with:
5th-degree felony: For a minor identity offense, including the ones without any financial loss.
Jail time: six to twelve months.
Fine: up to $2,500.
4th-degree felony: For identify fraud that results in a financial loss of less than $7,500
Jail time: six to eighteen months
Fine: up to $5,000.
3rd-degree felony: For identity fraud that results in a financial loss of $7,500 to $150,000.
Jail time: nine months to 10 years.
Fine: up to $10,000.
2nd-degree felony: For identity fraud that results in a financial loss of more than $150,000 (for elderly or disabled victims and duty service members with a financial loss of between $7,500 and $150,000)
Jail time: two to eight years.
Fine: $15,000.
1st-degree felony: For the fraud of elderly or disabled victims and duty service members, a financial loss of more than $150,000.
Jail time: three to eleven years.
Fine: $20,000