 TITLE: Familiar Fraud and ID Theft Among Family and Friends CONTENT: Identity Theft Among Family Members and Friends Can Happen To You\n-----------------------------------------------------------------\n###### Written by: Kristy Welsh\n_Last Updated: April 19, 2017_\nHaving your identity stolen is a very disheartening and often terrifying experience — knowing that some complete stranger is posing as you and opening credit card and\/or bank accounts in your name. What if the thief was someone you knew and trusted? A Javelin Strategy & Research report in 2014 noted there were 550,000 reports of ID theft perpetrated by someone the victim knew. Familiar fraud cases can be traced back to family members, friends, coworkers, and in-home employees.\nThink this can't happen to you? Here are some tips to identify and protect yourself against family or familiar fraud and identity theft.\nWhat is Familiar Identity Theft?\n--------------------------------\nWhen identity fraud victims know their imposters, it can tear through both relationships and financial well-being. \"Familiar fraud\" or \"Family Fraud\" occurs when a friend, extended family member or even a parent uses a close relationship for their own financial gain. The thief takes advantage of bonds of trust, making the crime emotionally devastating. The perpetrator already knows the victim's personal information or has very easy acces to it.\nMany cases of familiar fraud go undetected for years. For example, when parents use the financial identities of their children, the fraud often goes undiscovered until the children attempt to build their own credit.\nWhat to do if You are a Victim of Familiar Fraud\n------------------------------------------------\nRemember, bank fraud is a federal offense. Unfortunately, if you have had a family member or friend use your Social Security Number to fraudulently obtain credit, you have two options:\n1.  Turn them in to the creditor. The credit card company will absolutely press charges against them.\n2.  Pay off the debt yourself, if they can't. If you can't afford the debt your relative has racked up, your credit will take a hit.\nMost of the people who wrote to us about relatives whose identity had been stolen were absolutely distraught because they couldn't pay the debts opened in their names and refused to turn over a member of their own family to the creditors; they were facing an unsolvable problem.\nWe've seen every possible kind of family member act as a thief: father, mother, son, daughter, parents, grandparents, grandchildren, in-laws, sisters, brother. Don't let this happen to you. Take the steps necessary to protect your identity and your credit. END