| There is a problem plaguing corporate America | | | | top from the home of a retired banker that had |
| today. And it is a serious enough problem that | | | | the credit card details of over one thousand of |
| could have repercussions on the very nature of | | | | the bank's clients. Why the retired banker had the |
| our economy. This is a problem that can strike | | | | information was irrelevant. What was relevant |
| any one of us who ever held a credit card or a | | | | was that the theft was discovered in time to |
| bank debit card or ever shopped online. The | | | | prevent any large scale identity theft. But the |
| problem is one that has come to be known as | | | | thieves have been getting smarter and better. |
| Identity Theft. | | | | One of the more common methods of identity |
| The repercussions are more than mere identity. | | | | theft nowadays involves fraudulent retailers who |
| Estimates of the financial fall out of identity theft | | | | set up dummy retail outlets on the banking |
| range from a few billion dollars a year to as much | | | | network and try out stolen credit cards for |
| as 480 billion dollars! And experts in the field of | | | | nominal charges. Once they are approved, they |
| identity theft only claim that it is growing by the | | | | typically make a large withdrawal from a nearby |
| day. | | | | automated teller machine. |
| Identity theft first made an appearance in the | | | | But as the perpetrators of identity theft get |
| news headlines when the odd shopper or credit | | | | smarter, the banks too have begun installing |
| card holder reported the loss of a small amount | | | | security features that make it more and more |
| of money. Frequently, this was discovered to be | | | | difficult for the fraudsters. Today's network |
| related to fraud more than identity theft. One | | | | security systems are smart enough to enable |
| particular case that made the headlines pertained | | | | bankers to spot the first instances of identity |
| to a man who had been buying pornography on | | | | theft almost as soon as the theft occurs. But a |
| the Internet and had used his wife's credit card. | | | | lot more needs to be done to restore the faith of |
| When he was found out, as he ultimately would | | | | the general public in the infallibility of their credit |
| have been found, he cried identity theft and | | | | cards. |
| lodged a complaint. Turns out the man had not | | | | Identity theft will always be with us but, there are |
| even bothered to cover his tracks. The IP | | | | steps you can take to minimise your risk. Have a |
| address of his computer was tracked to the | | | | look around the web and you will see there is a |
| websites he had visited and the hoax of identity | | | | plentiful supply of free information. specialises in |
| theft was quickly discovered and plugged. | | | | preventing internet banking fraud. If you use |
| But there are several genuine cases of identity | | | | internet banking then take a look: |
| theft that occur on an alarmingly frequent basis. A | | | | InternetBankingRevealed. |
| recent news report mentioned the theft of a lap | | | | |