Penalties for white-collar identity theft

An identify theft crime happens when a person uses or possesses another person’s information for financial gain. It usually occurs in a professional setting by a person in a position of trust.

Examples

Examples of white-collar identity theft include using another person’s credit card to make purchases without their permission, accessing a customer’s online bank account, social media account, or emails to use them fraudulently, or filing a false tax return with another person’s information to receive a tax refund.

It can also include using another person’s identity to obtain a job, medical services or prescriptions, or using their information to apply for a mortgage.

Penalties

A conviction for white-collar identity theft can have serious consequences, which can vary depending on how much money was involved and the specific circumstances of the theft. The accused person can face criminal charges and fines, which can be significant.

The court may require the convicted person to pay restitution, which means they must repay the victim for the financial losses they suffered because of the identity theft. They may also have to pay any additional fees or charges that the victim accrued.

The convicted person may be sentenced to serve time in jail or prison or they may be placed on probation, where they are supervised by a probation officer and must meet certain court conditions.

A criminal conviction for white-collar identity theft can have a negative long-term impact on the convicted person’s ability to find a job, housing and to repair their reputation in the community.