| The 41st Parameter Certifies Product Compliance to Address New ID Theft Regulatory Guidance for U.S. and Global Banks
The 41st Parameter today confirmed its industry leading fraud prevention solution, FraudNet, has proven effective in addressing recent ID Theft regulatory guidance (http://www.occ.gov/ftp/release/2007-122.htm). This guidance directs financial service providers to develop a program for detecting, preventing, and mitigating identity theft. In summary, a Financial Services organization must: The 41st Parameter's FraudNet solution is an established platform, which directly addresses these requirements. FraudNet is currently implemented at several of the world's top tier banks and credit card companies, effectively identifying and combating online ID theft for both new and existing accounts. One critical area where the new ID Theft compliance may be challenging is online instant account opening, where fraudsters can leverage compromised identities and avoid setting off traditional red-flags.
LifeLock signs pact with NRA
Identity theft prevention service company LifeLock added a big gun to its list of clients, signing the National Rifle Association in a pact that gives members of the firearms organization discounted rates. LifeLock, based in Tempe, communicates with the nation's largest credit reporting agencies to make stolen information unusable to thieves. Backed by a $1 million guarantee, the company essentially reports stolen data, including bank account, credit card and social security numbers, to the agencies to stop charges from being approved. The service also removes customers names from junk mail lists and pre-approved credit card offers. With the partnership, NRA members will receive 60 days of free service and a 10 percent discount. The monthly cost for LifeLock is $10.
American National Standards Institute (ANSI)
ANSI is a private non-profit organization whose mission is to enhance U.S. global competitiveness and the American quality of life by promoting, facilitating, and safeguarding the integrity of the voluntary standardization and conformity assessment system. Its membership is comprised of businesses, professional societies and trade associations, standards developers, government agencies, and consumer and labor organizations. The Institute currently administers five standards panels in the areas of biofuels, homeland security, nanotechnology, healthcare information technology, and identity theft prevention and identity management. American National Standards Institute (ANSI): CSR News, Events and Reports .
Ahwatukee Foothills hosts forum on crime
A meeting meant to help residents learn about crime and fraud prevention turned into a tough questions-and-answers session for Arizona Attorney General Terry Goddard and other Phoenix officials Monday night in Ahwatukee Foothills. About 100 residents came to the meeting at the Desert Vista High School cafeteria armed with tough questions for Goddard, who was joined on a panel by Phoenix Police Chief Jack Harris and Phoenix City Councilman Greg Stanton. Goddard opened the meeting saying he wanted special emphasis to be put on prevention of crime and fraud, and discussed topics such as identity theft and consumer fraud. Harris and Stanton also addressed the group briefly, discussing topics such as methamphetamine abuse, gang activity and the future of the police presence in Ahwatukee Foothills.
Local banks host shred-a-thons to prevent identity theft
Local banks are stepping up their efforts to raise the public's awareness about how to prevent identity theft by shredding old documents.
Commerce National Bank & Trust in Winter Park said it is holding a free "shred-a-thon" today from 10 a.m. until 1 p.m. at its offices at 1201 S. Orlando Ave., Suite 100.
Another local bank, RBC Centura's Central Florida operation, is conducting an identity theft prevention "shred-a-thon" on Monday at its downtown Orlando branch, the bank said today.
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Ex-con:ID theft can be prevented
Sparks resident Angela Cady knows firsthand the harm identity theft causes. "Identity theft is like murder. You're murdering that person's identity -- everything that they are on paper," she said. "It's really sad what it can do to people, how long it takes them to get their life straight again." More than 11.8 million Americans have been affected by identity theft since April 2004, according to the Sparks Police Department, which is holding a free identity theft prevention course Wednesday night. Information also will be provided on the appropriate steps for victims of ID theft to take. Cady isn't a victim. She spent six years in prison for stealing someone's identity and, having learned from her experience, shared her story to help others protect themselves.
Yuma lawmaker victim of ID theft
State Sen. Amanda Aguirre, who has made identity theft prevention one of her legislative priorities, says she became a victim of the crime earlier this month when a credit card of hers was used fraudulently. "My immediate thought was this couldn't be happening," Aguirre said. "It's a reality check that anyone can be a victim of identity theft." Aguirre said she received a call earlier this month on her cell phone from her credit card company, which wanted to confirm whether she had bought some shoes. The following day, she got another call asking whether she had bought what appeared to be clothing. Both transactions, which were made online, were done using her credit number. In total, the purchases amounted to more than $3,000. The purchases were ordered from stores in North Carolina and California and supposed to be mailed to addresses in those states.
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