IDENTITY THEFT

Chilling Identity Theft Facts


Identity theft is the fastest growing crime, according to the Federal Trade Commission. Experts estimate that about 10 million people become victims each year. That means every minute, 19 people become new victims of identity fraud!

In fact, according to the US Department of Justice, drug trafficking is now being replaced by identity theft as the number one crime.

Some of the articles below will show you how large companies are targeted by successful identity theft criminals who are rewarded with confidential and credit card information from several thousand individuals in one fell swoop.

If you become a victim, it will probably take you hundreds of hours and an average of $1,000 to recover from ID theft. Even worse, some innocent victims have ended up in prison because identity thieves have committed crimes in their names.

That's why identity theft prevention is so important; we want to help you protect yourself from this nightmare.

However, if you have had the misfortune of becoming an identity theft victim, we have some excellent resources to help you recover.

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The Web sites of three of the security industry's best-known companies include security flaws that could be used to launch scams against customers, according to a new report. The report, from security watchdog site XSSed, verified 30 cross-site scripting (XSS) vulnerabilities across the sites of McAfee, Symantec and VeriSign. The flaws could be used to launch scams or implant malicious code on the systems of visiting users, according to XSSed.

A data breach at United Healthcare Services Inc. has led to a rash of identity-theft crimes at the University of California, Irvine. To date, 155 graduate and medical students at the school have been hit by the scam, in which criminals file false tax returns in the victim's name and then collect their tax refunds.

June 2, 2008 (Computerworld) In a class-action settlement that may be unprecedented in its size, Chicago-based credit-reporting bureau TransUnion LLC is offering up to nine months' worth of free credit-monitoring service to anyone in the U.S. who has ever held a credit card or a line of credit over the last 20 years. The massive offer represents a retail value of several billions of dollars and is aimed at settling more than a dozen privacy-related federal lawsuits filed against TransUnion since 1999 over its alleged sale of protected consumer information to marketing lists in violation of the Fair Credit Reporting Act.

Bank of New York Mellon Corp. late last week said it has launched a new policy to encrypt data held on storage devices and to limit the amount of confidential client data stored on tape drives. The policy was launched after unencrypted backup data tapes were lost twice by third-party couriers this year.  The bank would not disclose its past storage policies.

As of September 1, 2005, everyone in the US is now entitled to get a free copy of their credit report from each of the three major credit bureaus each year.

Unfortunately, many people are finding that actually getting their free credit report seems close to impossible.

Ten Most Popular Identity Theft Resources

Identity theft is the fastest growing crime, according to the Federal Trade Commission. Experts estimate that about 10 million people become victims each year. That means every minute, 19 people become new victims of identity fraud!

Is Your Bank Account Safe?

According to the research organization, Gartner Inc., illegal access to bank accounts is one of the fastest-growing financial crimes today.

Gartner estimates that during the past year, almost 2 million people in the US have had money stolen from their bank accounts! The average loss was $1200, with a total of more than $2 billion in losses for the year.

Imagine getting a phone call from someone from a reputable sounding research firm asking you to participate in a survey. The questions they ask seem harmless, including the name of your phone company, investment firm, and even your pet's name.

In reality, you may have just been a victim of pretexting.

When college students think about complications at school, identity theft is usually the last thing on their mind.  Concerned parents may well advise their college kids to stay out of dark corners, lock their doors at night, and travel in groups. While these measures might help prevent college students from getting robbed in conventional ways, they cannot protect them from one of the worst kinds of theft imaginable: having their identities stolen and used to defraud others.

Did You Get a New Computer?

When you get a new computer, chances are high that it will come without the latest security patches and with outdated antivirus software. Yet, many people wrongly assume that their new computers are ready to 'plug and play.'

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