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
Wed, Apr 26 2006 7:09
How To Stop Internet Identity Theft
"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."
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