Sunday, July 19, 2009

Small town newspapers report on id theft problem

Smaller city newspapers are getting into reporting the identity theft problem. Today, Brandon Bietz, on p B4 “Money” of the Hagerstown MD “Herald Mail” reports “Credit card theft is biggest form of identity theft in the U.S., story link here. His story starts with the concept of reputation and what “makes you unique”. Later he reports 20% of id theft scams involve credit card fraud, specifically getting new accounts without a person’s knowledge.

The victim finds out perhaps with a call from a debt collector: then you wonder why the lender didn’t cross check the preferred address and sends bills to a fraudulent address. There seems to be no due diligence requiring the lender to do so.

We can solve this problem. Yes we can.

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