Archive for the 'identity theft protection' Category

Federal Reserve Chairman Victimized by ID Thieves

Monday, August 31st, 2009

According to USA TODAY, no one is safe from identity theft, not even the chairman of the Federal Reserve.

Chairman Ben Bernanke’s personal checking account was compromised in an identity-theft scheme after his wife’s purse, which contained her Social Security card, checkbook, credit cards and IDs, was stolen last August. Shortly after, a thief began cashing checks on their bank account. The thefts helped fuel an ongoing investigation into a major identity theft ring.

The ring was responsible for more than $2.1 million in fraudulent charges, which involved at least 10 financial institutions. Clyde Austin Gray Jr., a suspected ringleader in the scams, pleaded guilty on July 22 in a federal court in Virginia. Authorities believe that Gray hired pick pockets then made counterfeit IDs so that they could conduct fraudulent bank transactions.

“Identity theft is a serious crime that affects millions of Americans each year,” Bernanke said in a statement. “Our family was but one of 500 separate instances traced to one crime ring. I am grateful for the law enforcement officers who patiently and diligently work to solve and prevent these financial crimes.”

New Law Requires Businesses to Fight ID Theft

Sunday, August 2nd, 2009

The Star Ledger reports that starting later this year, financial institutions, along with any business acting as a creditor, must comply with the Federal Trade Commission’s “Red Flags Rule.” This means that businesses must implement plans to protect their customers from identity theft.

The law will go into effect Nov. 1. Besides banks and credit unions, businesses that fall under the rule include companies that issue their own credit cards, grant loans or regularly defer payments for goods and services and bill their customers later. These include utility companies, health care providers, telecommunications companies, mortgage brokers, finance companies, car dealers and retailers, according to the FTC.

AT&T Worker Steals Employees’ Identities

Thursday, July 30th, 2009

SC Magazine reports that a temporary employee at a Chicago-area AT&T office allegedly stole the personal information of 2,100 AT&T employees.

Two other people were indicted and charged with stealing $70,000 by applying for “payday loans” using stolen confidential data, according to an indictment.

The three women, Cassandra Walls, Jermaine Jones, and Deedra Massey, forged driver’s licenses bearing the names of victims, using photos of random people, and faxed them as part of the loan applications. They set up bank accounts and had the loan money wired to them, according to the indictment. The three are charged with five counts each of federal wire fraud and identity theft.
A company called PayDay One took information for the loan applications over the internet, for 130 victims – except that the applications were allegedly made “without the knowledge or consent” of the victims.

ID Theft Scam Results in 1000 Counterfeit Checks

Tuesday, June 2nd, 2009

Prosecutors in New York indicted 18 people for operating a bank fraud and identity theft scheme that resulted in the cashing of more than 1,000 counterfeit checks at several large banks, according to Reuters.

The 227-count indictment accused the defendants of collecting customers’ personal data with the help of bank employees they recruited for the operation, and using the data to manufacture thousands of fake checks.

The Reuters article says at least 17 banks were targeted, and at least 1,017 counterfeit checks were deposited in Manhattan branches. Among the roughly 350 compromised accounts were those of New York City’s police department, board of education, finance department, housing authority and transit authority, as well as corporate accounts of Bed Bath & Beyond, designer Diane von Furstenberg, Cablevision Corp’s Madison Square Garden and several hospitals.

Identity Thieves Prey on Job Seekers

Monday, April 13th, 2009

According to Sun-Sentinel.com, identity thieves are increasingly preying on unsuspecting job seekers by stealing personal information and using it to commit identity theft.

Identity thieves use all types of scams, including fake help-wanted ads, job-search services, and resume-posting Web sites, to trick people into handing over their data.

“There are so many people out there who are desperate to find a job,” said Linda Foley, executive director of the Identity Theft Resource Center, a nonprofit watchdog group. “Unfortunately, identity thieves are taking advantage of people in these uncertain times.”

Whether you’re registering with employment agencies, responding to ads, posting resumes or surfing career sites for work, it’s important to only give out your Social Security numbers and other personal data when it’s necessary and you’re sure it’s secure.