How To Stop Internet Identity Theft

Internet identity theft is one of the fastest growing crimes in the U.S. today. For five straight years, the Federal Trade Commission (FTC) ranked it as one of the most reported types of fraud. Despite the increasing awareness of identity theft among consumers and financial institutions, the identity theft racket shows no signs of slowing. Reported losses from identity theft, currently responsible for over 40 percent of all fraud complaints, approached nearly $300 million last year.

"True identity theft is a problem that goes far beyond simple credit-card fraud, against which consumers are fully protected, thanks to zero-liability laws and other regulations," said Dave Collett, a spokesperson for MasterCard. "ID theft is when a person's entire identity is taken over. For that to happen, a fraudster would need far more information than just what is found on a credit or debit card." How To Stop Internet Identity Theft - Yahoo! News

Linked by shanmuga Thursday, 27th April 2006 12:58AM