Identity thieves likely to be first timers, strangers

Identity theft has become the financial crime of the 21st century. The crime has made up approximately a third of all complaints the largest proportion to the U.S. Federal Trade Commission and other government agencies since 2004. The U.S. Secret Service has cracked down on a number of identity fraud rings this year, including the arrest of former security consult Max Ray "Max Vision" Butler in September.

Gordon and his colleagues used a strict definition of identity theft, requiring that the criminal assume a person's identity to classify the crime as identity theft. The hack of retail giant TJX Companies' transaction processing servers, which led to the leak of 46.5 million credit- and debit-card accounts and massive fraud, did not necessarily lead to identity theft, for example.Identity thieves likely to be first-timers, strangers

Linked by shanmuga Friday, 26th October 2007 11:31PM