In the cases of corporate theft that we often see, we know the perpetrator. It is often a minority shareholder or partner who steals money or trade secrets to steal the company. In these cases, it may be possible to successfully prosecute the person, but even then, collection capacity is often an issue. As mentioned above, if the person knows this or the police can find the person responsible for the identity theft, the victim may be able to sue in civil court. If the lawsuit is successful, the victim may be able to recover: As a victim of identity theft, you may be able to sue the perpetrator in civil court. Depending on the details of your case, the amount you can sue and possibly receive will vary. If the company is a bank or credit card issuer/processor, cash rewards of up to $1.6 million may be available under the FIRREA Bank Fraud Act. In a situation where the victim does not know the thief and law enforcement authorities cannot find him, it may be possible to prosecute some of the parties listed in the section above based on “who can be held responsible”. Each agency and financial institution may have a different procedure for taking legal action. In addition, each state also has separate laws and procedures for filing identity theft lawsuits and related claims. In addition, it may be helpful to consider an identity theft lawyer. Lawyers dealing with identity theft issues are familiar with federal and state laws, causes of action, and the overall process required to find a successful solution. You`ll also know which parties to pursue and which may not be worth the time and cost.
Other theories of responsibility that may be available to victims of identity theft include identity thieves, who can obtain the child`s information by asking them in person, sending them messages online, or having access to it. For example, a parent or guardian who already has the child`s information in their possession can use it to take out loans or open credit card accounts. Thieves may also pose as authority figures (e.g., School Administrator), so that the child feels sufficiently compelled or confident to give the information. Children are a big target of identity theft. The reason for this is that they are better candidates for scam purposes. For example, most children don`t have a credit card, driver`s license, tax history, or other identifying information that leaves a trace. As such, criminals can use children`s information to set up lines of credit, obtain government ID cards such as passports or licenses, and take out a mortgage on a home. There are three types of damages that may be available in the event of identity theft: Punitive damages are available in some states, but often not against the bank or company that facilitated the theft.
The purpose of punitive damages is to punish the offender and deter future misconduct. “How much can you sue for identity theft?” is a common question among those who have unfortunately been victims of this scam. If you`re a victim of identity theft, you`re probably feeling angry and anxious. It`s a violation of your personal and financial life and can have devastating effects in the long run, so it`s important to know your rights. Several states have adopted their own identity theft laws that facilitate the prosecution of victims. For example, California has enacted a law to protect victims who are now facing debts or bills that someone has taken out on their behalf. As we`ve said before, the nightmare doesn`t end when your money is lost, it can get worse if the identity thief takes credit on your behalf. Identity theft is a crime under federal law, and most states also have laws that make it illegal. You may be wondering if you have the right to bring a civil action against the perpetrator(s).
We know that the thief can always be prosecuted, but it is only if he is caught, convicted and has money. Look no further than Paige Thompson, the person arrested in the summer of 2019 in the Capital One data breach. He allegedly accessed the sensitive data of 106,000,000 credit card applicants and Capital One users.