Identity Theft

The Capital Journal - Pierre, SD newspaper since 1881: "Identity theft robs people of more than just money. It takes away time. According to the Identity Theft Resource Center, it now takes a victim more than 600 hours of work, spread over months and years, to recover from having their identity stolen.

That 600 hours represents nearly $16,000 in lost or potential income, according to the resource center. The average victim also ends up spending an extra $1,600 of his own money to clear his name and clean his credit report."

Washington Examiner: Opinion: "Frank Abagnale, who spent his youth impersonating professionals and managed to pass $2.5 million in bad checks before being caught by the FBI at the age of 21, wrote in a November Executive Update article that if he were in the fraud business today, 'instead of making $2.5 million, I'd probably make $25 million - in a fraction of the time and with no witnesses, because I would have done it from thousands of miles away.'"

ID theft concerns grow, tools lacking - Consumer Security - MSNBC.com: "In one of the most extensive studies yet on consumer attitudes about identity theft, Gartner Inc. found that about half those polled either weren't aware they were entitled to a free credit report or considered them 'not effective' in fighting ID theft. The survey, released Thursday, also found that one-third of consumers are 'very concerned' about being victims of identity theft, and nearly half are altering their online activities as a result."

Identity theft costs businesses $48 bln annually by ZDNet's ZDNet -- The Federal Trade Commission estimates that roughly 10 million Americans have their personal information pilfered and misused in some way or another every year, costing consumers $5 billion and businesses $48 billion annually.

The New Zealand Herald: "Mr Pritchard, 34, has been the victim of identity theft for 18 years, by a man who was born 23 days earlier than him and who carries the same name."

Reconnex Alert: Largest Identity Theft Security Breach to Date Could Affect Up to 40 Million Consumers: "'Even the most secure companies are at risk,' said Donald J. Massaro, CEO Reconnex Corporation. 'To avoid breaches, all companies need to vigilantly monitor the sensitive customer private data that leaves their network. Just like the Y2K upgrade, companies should be required to upgrade their network security infrastructure to include content-monitoring appliances that monitor customer-sensitive data.'"

Black Market in Stolen Credit Card Data Thrives on Internet - New York Times: "For despite years of security improvements and tougher, more coordinated law enforcement efforts, the information that criminals siphon - credit card and bank account numbers, and whole buckets of raw consumer information - is boldly hawked on the Internet. The data's value arises from its ready conversion into online purchases, counterfeit card manufacture, or more elaborate identity-theft schemes."

STLtoday - Neighborhoods - News: "Someone may be searching through trash cans in Webster Groves in order to get enough information to steal your identity and then use your identifying information to steal money from your bank account or set up credit card accounts in your name, which could damage your credit rating"

Marshfield News Herald - Identity theft poses challenges for police, prosecutors: "Identify theft is on the rise in central Wisconsin, and it's expected to climb higher.

To make matters worse, tracking down criminals, much less charging them with their crimes, is increasingly difficult."

14 WFIE, The Tri-State's News Leader: MasterCard A Victim Of Identity Theft: "The MasterCard company say they've discovered a massive security breach affecting 40-million credit card holders."

CNN.com - Transcripts: "It is a multibillion-dollar epidemic. And it's all about you and your most private information, stuff you would never want to land in criminal hands. Well, a new generation of thieves is stealing billions and sticking you with the bill."

Citigroup says UPS loses data - Yahoo! News: "Citigroup Inc. (NYSE:C - news) on Monday said computer tapes containing account and payment history data, including Social Security numbers, on 3.9 million customers were lost by United Parcel Service Inc. (NYSE:UPS - news)".

KVAL 13 - Eugene: "Kirsch also says Iron Mountain has been shredding documents for businesses for years but over the last few years they have seen a big increase in demand in the private sector."

Honolulu Star-Bulletin Business /2005/06/05/: "'Most of the insurance companies, the bigger companies, are offering it,' said John Schapperle, president of Island Insurance Cos. 'I think the trend is following the scare in the nation ... there's a lot of publicity about it.'"

Money Plans - Impact of Terror on Victims of Identity Theft in America is on the Rise : Onlypunjab.com Team- Putting your money in Citibank or Bank of America isn't going to protect you from identity theft today. There is no ironclad method to prevent identity theft today.