Crimes are evolving to utilize technology and digital channels used for financial transactions. Sometimes, victims fall prey to these schemes without their knowledge, which usually happens with identity theft.
This crime usually involves elaborate methods to collect personal information from unsuspecting victims. Then, the offenders could use the collected details to apply for loans and initiate transfers under their victims’ names. Identity theft incidents could quickly drain an individual’s financial resources, causing extensive losses totaling billions of dollars.
Penalties for identity theft
In Minnesota, this crime is a serious offense with penalties based on the incident’s severity. The law provides varying sanctions depending on the number of victims and the monetary worth of damages:
- One victim with a maximum of $250 worth of losses: Misdemeanor charge with up to 90 days of imprisonment and $1,000 worth of fines
- One victim with $251 to $500 worth of losses: Gross misdemeanor charge with up to one year of imprisonment and $3,000 worth of fines
- One victim with $501 to $2,500 worth of losses: Felony charge with up to five years of imprisonment and $10,000 worth of fines
- One victim with $2,501 to $35,000 worth of losses: Felony charge with up to 10 years of imprisonment and $20,000 worth of fines
- A maximum of three victims with losses: Felony charge with up to five years of imprisonment and $10,000 worth of fines
- Four to seven victims with losses: Felony charge with up to 10 years of imprisonment and $20,000 worth of fines
- Eight or more victims with losses: Felony charge with up to 20 years of imprisonment and $100,000 worth of fines
The court could adjust these penalties depending on the offense’s severity and the nature of the damages it caused.
Identity theft could be complicated
Crimes like identity theft could require considerable effort to conduct investigations. Due to its nature, offenders might use multiple identities or impersonate others to commit the crime, implicating others and misleading authorities. Nevertheless, it remains a severe offense that could include additional charges based on the case details.