Family Wealth blog

Identity Theft - Where the Money Is

A middle-aged couple shows great concern while looking at bills. A tag with Identity Theft and a fish hook is in the foreground.

If you think forgetting where you parked your car is a challenge, imagine forgetting where you left your wallet or purse. And then someone stole it.

Identity theft is one of the fastest growing crimes in the United States, with as many as 10% of Americans over age 16 victims in 2021, according to a bulletin from the Bureau of Justice Statistics.

Identity theft is a type of fraud in which a thief uses your personal information to conduct transactions in your name.

Once a criminal or criminal organization has your key identity info, they can use it to open or empty bank accounts, obtain credit cards, or take out loans. And if you have considerable wealth, you are a very attractive target.

Identity thieves can even use your information to commit crimes that may impact your taxes. And identity theft can affect more than you. A thief with access to your most important accounts could inflict financial damage that ripples through generations.

Have you taken action lately to protect your identity from thieves?


This communication is for informational purposes only and should not necessarily be regarded as legal, tax, or customized financial advice or comment or as an official statement of the firm, or any agents thereof. J.L. Bainbridge & Co., Inc. is not a broker dealer and does not offer tax or legal advice. Please consult your tax or legal advisor for assistance regarding your individual situation. The views expressed in this material and in any attachment are those of the sender and do not necessarily reflect the views of the firm.

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