Global Security Watch > Progress cited in thwarting ID theft

[Identity Theft Blog] Executives from the data broker industry told a Senate panel yesterday they are making progress in stopping identity theft, a crime affecting about 10 million consumers a year at a cost of more than $50 billion.

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Alwayson-network.comhttp://www.alwayson-network.com [Alwayson-network.com] New twists on ID fraud could drive protection demand. Thwarting ...: According to Steven Gal of ID Analytics Inc., a firm that sells fraud-detection software to banks, the fake identities are built on stolen Social Security numbers and invented personal data, like addresses and birthdays. Capitalizing on these fictitious identities, thieves then open credit-card accounts, savings accounts with attached lines of credit and checking accounts with overdraft protection.

[Idtheft.foundnews.com] Identity Theft Blog » Protection: “Both offenses threaten the financial security of thousands of Connecticut residents. If enacted, this measure will enable law enforcement agencies and financial institutions to share information about new identity theft and bank fraud threats and take action to protect consumers from fraud and other unauthorized transactions or claims.

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