ME&MEE

A young couple in Philadelphia lived the high-life for a while—all on their neighbors’ credit cards. The couple is accused of identity theft and fraud (among other charges) and police are estimating the couple’s plot dates back at least two years, with an estimated $100,000 schemed just this year alone. Jet-setting to Paris, high-tech equipment, and even expensive hair extensions were among many fradulent purchases accused of being made by the couple. Not exactly a showing of neighborly love. Also in the news, check out the debate over the risks of identity thieves using commerical spyware, such as the program found in the Philly couple’s apartment.

Just when you thought you finally recovered from Black Friday you woke up today to face yet another designated shopping day. Yep, it’s Cyber Monday. The term refers to the Monday following Thanksgiving when most people return to their desks to continue the shopping they started over the weekend via the internet. The recent phenomenon draws much attention, but does the day really live up the hype? Either way, it’s a great time to remind ourselves of the precautions we need to take to keep our identities safe this holiday season. Our Black Friday tips easily relate to online shopping this Cyber Monday and throughout the holiday season. Also in the news, 60 Minutes ran an investigative piece last night following all the talk about Black Friday on how identity thieves can steal consumers’ credit card information by penetrating stores’ wireless networks. Watch the video and read the story here. Makes paying with cash that much more appealing.

Ahh, Black Friday. It might sound like a dismal day, but for retailers, it’s the best day of the year. As the biggest shopping day approaches, we can’t help but remind ourselves of how important it is to thwart identity theft and credit card fraud by keeping our purchases safe this holiday season. Of course, that sounds easier than it actually is. Take a recent study by AirDefense Inc., for example. Researchers found that half of more than 3,000 retail stores in the U.S. and Europe use a wireless data system that is vulnerable to hacking by going undercover at stores in Atlanta, Boston, Chicago, Los Angeles, New York, San Francisco, London and Paris to expose security holes in the networks. Some of the stores investigated were exchanging data with no encryption to mask information or were using an outdated encryption method that is easily cracked by thieves. ‘Tis may be the season to shop, but we think it’s also the season to watch—your statements, that is.

It’s hard to believe, but the holidays are right around the corner and advertisers and marketers are making sure we are all aware. For those of you who opt out of the holiday mall madness and choose to battle the online crowds, check out this article from USA Today about e-commerce sites offering different options for purchasing that expand beyond basic credit card purchases. A survey in the article finds that over one third of consumers feel that services like PayPal, Google Check-out, or Bill Me Later are more secure than entering their credit card information online. Regardless of how you shop, we all need to be on our toes when it comes to protecting ourselves from credit card fraud and identity theft. In the spirit of the holidays and it’s subsequent online shopping, stay tuned for this week’s top tips on keeping your identity safe.

Steve Gal, who serves on the board of the Identity Theft Resource Center, offers his perspective on how our identity infrastructure is at the point of new return. And who’s to blame? Surprise, surprise … the internet. Gal believes that in order to really get to the heart of the issue industries involved in identity theft need to step it up, and people need to demand progress. Recent news out of the Senate shows someone is paying attention. Well, at least they are this week. A Senate panel approved a bill that will allow identity theft victims to request monetary compensation for the time they spent getting their lives back in order. It might not end ID theft, but we like seeing movement in the right direction. And as far away from the right direction as you can get, there have been some interesting ID theft cases making waves these days. Check out the waitress who stole customer’s credit card numbers and stored them in a portable swiping device. And the people who “bought” a house by stealing a woman’s ID. Or how about the woman who posed as a minister and used a stolen Social Security Number to score a new Chrysler. That can’t be good for the karma.