ME&MEE

We will celebrate the day when identity theft is no longer a problem for consumers across the globe. However, until that day, identity theft is here and we need to deal with it. Reinforcing the magnitude of this problem, once again, identity theft tops the list of scams reported to the FTC in 2006. We like it when the bad guys get caught. Here’s a story of a criminal getting 10 years for identity theft. In lighter fare, here’s a spoof article on children running an identity theft ring.

The scourge of identity theft can strike any segment of the population, even teens and college students. Here’s a story of one unfortunate victim. Speaking of identity theft and university students, watch out for student loan fraud. Finally, watch you purse and other valuables when you are at the gas pump. Check out this video.

We applaud the President’s Identity Theft Task Force’s recent recommendations that urge both government agencies and the private sector to safeguard social security numbers. In addition, the Task Force recommends that the private sector alert customers when there’s been a data breach. Not to toot our own horns, but Worldwide Assistance has been offering this service for about 8 months now. Speaking of data breaches – rather ironic timing, don’t you think – the social security numbers of thousands of people who received loans from the U.S. Department of Agriculture (USDA) have been exposed for years in a publicly available database. Scary.

Today is a big day down at the Federal Trade Commission. We are anxiously awaiting the announcement of the findings of the President’s Identity Theft Task Force. Nearly a year in the making, this group’s research will play a significant role in establishing laws to protect identity theft victims. For example, in September 2006, the task force recommended that identity theft victims be compensated for the time it takes to set their credit records straight. Good stuff. Also, here’s what our friends at Wired Magazine’s blog had to say about this. Finally, the 2007 National Community Shred campaign is underway.

We applaud stricter laws to ensure keeping identity theft criminals behind bars. The State of Oregon just passed new legislation where criminals would be punished with a maximum prison sentence of 10 years and a $100,000 fine. In other news, Experian just issued a report stating that identity theft cases have increased with the rise of organized cybercrime. Here’s some more news along those lines. Finally, check out this YouTube video of an expert panel offering identity theft prevention tips.

All customer data should be kept as safe as the Hope diamond. Period. An Attorney General in Texas feels the same way and is suing the drug store retailer, CVS, for dumping customer data in the trash. Here’s the story. We applaud all legal bodies that are keeping corporations accountable. Speaking of diamonds, check out this Washington Post article. In other news, the Direct Marketing Association is calling for legislation that would standardize how companies should notify customers in the event of a breach. What do ME&ME readers think about this proposed legislation?

The bad guys will do anything to elicit personal information. In a disturbing new trend, identity thieves have been posing as government workers and calling people to update them that they have been summonsed for jury duty. The catch is that you have to give them your social security number. Here’s an article with more information. In a recent online shopping story, fear of identity theft may be hurting e-commerce. ME&ME would like to know if you have changed your online spending habits as a precaution. Finally, if you have filed for a tax extension, you may want to be aware of these identity theft prevention tips.

It is often challenging to find positive identity theft stories to cover. However, the ME&ME staff is pleased to report on a story of an identity theft criminal finally being charged after 17 years. It is comforting to know that thieves can and do get caught. In a story that reminds us that “inside jobs” are very prevalent, a former Social Security Administration employee is being charged with providing confidential information mined from a government computer to identity thieves — who racked up $2.5 million in illegal credit card purchases.