| Officials: Take action to prevent identity theft
Anyone can become a victim of identity theft.Each year, identity theft affects about 9 million Americans, according to information released by the Federal Trade Commission. In fact, the problem is so widespread that President George W. Bush recently commissioned a task force to identify solutions to the issue.The April 2007 report, titled "Combating Identity Theft: A Strategic Plan," concluded that reducing opportunities for identity theft and increasing public awareness were two of the most vital steps in reducing the number of victims."Only a comprehensive and fully coordinated strategy to combat identity theft — one that encompasses effective prevention, public awareness and education, victim assistance, and law enforcement measures, and that fully engages federal, state, and local authorities and the private sector — will have any chance of solving the problem," the report said.Last year, more than 17,700 fraud and identity theft cases were reported in Florida, according to a recent press release from the Florida Attorney General's Office.
GCSO warns residents of possible identity theft operation via phone
Gray County Sheriff's Office is warning residents about a possible identity theft operation in which the person is asked for information concerning their bank account.At least one local resident has reported receiving a call from someone claiming to be a representative of the Internal Revenue Service, said Sheriff Don Copeland. The caller claimed that the IRS had a refund to send to the person, and asked for the person's bank routing number and bank account number in order to deposit the refund in their account.This information may be used by the caller to remove money from the account and may also lead to identity theft, Copeland said.
The IRS warns all citizens not to give personal information over the phone, through the mail or on the Internet unless they have initialed the contact or they are sure they know who they are dealing with.
Identity theft common around Holidays
Identity theft crimes hit home for more than eight million adults in the US in 2005, according to a new report from the federal trade commission. In ten percent of cases, victims surveyed said they paid at least $1,200 to settle charges to stolen or fraudulent credit cards or bank accounts. Add to that the hours they spent repairing their credit reports. Nearly 40 percent of victims reported being harassed by debt collectors, denied credit or loans, having utilities cut off -- even getting sued. And more than half of victims said they still don't know how the thieves got a hold of their personal information. Experts at the non-profit identity theft resource center say the holidays are prime time for thieves. They recommend you leave your social security card at home -- don't carry it in your wallet.
In fraud fight, banks play priceless role
When it comes to protecting you against identity theft and fraud, banks occupy a unique position of influence. They're the central depository for consumers' money and sensitive personal information. Get hold of someone's monthly bank statement and you've got a ton of valuable data. As heavily regulated as banks are, consumers should expect that their financial institution does more than any other business to guard their personal data. An annual study by Javelin Strategy and Research finds that although banks are doing a fairly good job at helping customers resolve identity theft and fraud cases, they need to make the customer more of a partner in a joint battle against crooks. "Banks and credit unions do a great job behind the scenes – total fraud dropped last year from $55.7 billion to $49.3 billion – but this report shows where they can enlist a willing customer base to do even better," said this month's report by Pleasanton, Calif.-based Javelin, which provides research on financial services topics.
Critics question latest government report on identity theft
WASHINGTON (AP) - The Federal Trade Commission says a new analysis concludes 8.3 million Americans over 18 were victims of identity theft in 2005. That's down from 9.9 million in 2003. But consumer advocates are not convinced the numbers are accurate. One problem in getting accurate information about identity theft is that most consumers don't know it when their personal information is compromised. And the FTC acknowledges that its identity-theft survey involved such a small sample that the results are not "statistically significant." Still, there's agreement that ID theft is a monumental problem. One research firm says it cost American businesses $55 billion in 2006. And the FTC estimates the cost to consumers last year came to $1.2 billion. Copyright 2007 The Associated Press.
Guardian Analytics Delivers Real-Time Online Fraud Prevention With ...
LOS ALTOS, Calif., Dec. 10 /PRNewswire/ -- Guardian Analytics, Inc. today announced the release of FraudMAP(TM), its fraud prevention solution for protecting online accounts from fraud and identity theft. Providing comprehensive online channel risk management, FraudMAP delivers fraud detection, forensics and ongoing risk monitoring based on strong analytics and rich, predictive models of individual behavior. The unique solution was built from the ground up to automatically detect new online fraud threats without requiring fraud rules development or algorithm training. "Online accounts continue to be under attack from constantly evolving threats designed to steal account holder assets and information. These threats put the integrity of the online channel at risk and jeopardize the growth of online business," said Tom Miltonberger, president and CEO, Guardian Analytics.
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