Yet Another Study Says Identity Theft Is Exploding

from the boom dept

Thu, Mar 8th 2007 3:36pm — Mike Masnick

It really was just a month ago that a well hyped study came out suggesting that identity theft was nothing to worry about, as incidents were decreasing. Of course, that study was sponsored by some bank and credit card companies who had plenty to gain from pretending identity theft isn't a problem. In fact, it didn't take long at all for people to point out all the flaws in the report. So, it should come as no surprise that yet another report has now come out saying that identity theft is on the rise -- and that it was less likely than before that victims of identity theft could recover whatever was stolen from them. So, while the banks and credit card companies apparently want to pretend it's no problem, back out in the real world, it would be nice if they were doing a bit more to prevent identity theft.

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14 Comments

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Lucy Brown, 8 Mar 2007 @ 5:20pm

Identy theif
If this keep happen soon it will hurt the economy.
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Wolf0579, 8 Mar 2007 @ 6:06pm

Credit Companies
Don't care about ID theft... they've got their bankruptcy law revisions in place. It is all money in their pockets.
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Trev, 8 Mar 2007 @ 6:33pm

Needle in Haystack effect...
Im surprised no one is paying attention to the increase in stolen laptops of a year ago.
Like the time one was stolen from a credit company then backtracked less than a week later and said it was actually "hacked" into. bullocks.

3 laptops were stolen from a courthouse last year.
1 i beleive from the veterans office.
1 from a census bereau employee(who brought the laptop home)
1 from boeing

ironically i feel more secure shopping online from a public computer than filing my taxes.
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dorpus, 8 Mar 2007 @ 8:03pm

Blowtorch as a household tool
Whenever credit card companies, banks, etc. send me stuff I don't want, I make a policy of using a blowtorch to destroy personal info. A blowtorch only costs about $20 at your local hardware store.
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dorpus, 8 Mar 2007 @ 8:05pm

Re: Blowtorch as a household tool
One time, I destroyed an expired driver's license, and it melted on to my sink, and my face got imprinted on it. So for a few months, I saw my own face in the sink.
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Hmmmm, 8 Mar 2007 @ 9:17pm

Re: Re: Blowtorch as a household tool
What happened to shredders? 30-40 bux ofr a cheapie that cross shreds credit cards and paper. Hell for a little more they kill CD's too. Sure seemes s little safer than using a blowtorch (safer as far as burning down the house) I think it's a draw with destruction.
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dorpus, 8 Mar 2007 @ 9:20pm

Re: Re: Re: Blowtorch as a household tool
It's not that hard to put together shredded pieces -- no harder than a jigsaw puzzle. It's not recommended by security literature I read as of 10 years ago.
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dorpus, 8 Mar 2007 @ 9:29pm

Re: Re: Re: Blowtorch as a household tool
By the way, shredders aren't entirely safe either. They can cut fingers off.
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Concerned citizen, 8 Mar 2007 @ 9:46pm

Re: Re: Re: Re: Blowtorch as a household tool
Okay, I know this is all in good fun, but shredders have to be safer than using a blow torch in your house. Also, should people unable to safely use a shredder be using a blow torch? If you're worried about people putting the puzzle together then mix your shreddings together from many different papers and then throw it out a little at a time. We really have to suppress our OCD in this case. I think ID theft is on the rise and credit card companies are to blame for many reasons.
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D.PARAMESWARAN,WRITER,POET, 8 Mar 2007 @ 11:46pm

Internet&Card ID theft
A decade back marketing forces never used to uninstall the better practices of housekeeping, security consciousness. Practices were good, because some jobs were not given for outsourcing agents, and high salary was paid for Security Oriented Jobs.Today salary is a small one, for reason of which workers will not hesitate to resort to unfair means of linking with outsiders or hacking the IDs for vested interests. Top level executives are to blame for diluting the orders of high level security. Companies are under pressure from marketing forces to dilute their sacred laws violating the safety rules of consumers. Long time back small pedlars, vendors used to cheat cionsumers. Now MNCs, state organisations, all respectable insttns cheat the public and make them humiliated. I know many cases where card holders dont geta damn response vide fon, fax or email. No one attends. ONe gets tired of trying to contact again and again. By mistake, you will come across someone responding immedtly to your requests. There also, it is not the company, it is the individual who is taking the responsibility.

The consumers ought to be alert and avoid the worst enemies to society by not subscribing to them.
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dorpus, 9 Mar 2007 @ 12:21am

Re: Re: Re: Re: Re: Blowtorch as a household tool
A blowtorch is treated with utmost attention. A paper shredder is easy to underestimate -- while we're looking at a paper, the machine might decide to eat our fingers. It doesn't stop at one finger either, it will suck in all the other fingers. Instinctively, we will try to use our other hand, and it will eat the other hand's fingers too. I'm not being paranoid here, there has been a rash of accidents in Japan recently where people lost most of their fingers this way.
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Michele, 19 Mar 2007 @ 12:54am

Re: Identy theif
Lucy, you are right. Our economy is already hurting because of ID Theft. Do you know that a new law was passed that makes us responsible for a debt created by an ID thief if we don't dispute it within 60 days. The credit card companies and banks are tired of paying. And what happens if you don't know about the debt? It doesn't matter....

Check the ID Theft seminar at: www.protectingyourid@yahoo.com
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Brian, 21 Mar 2007 @ 12:45am

Stop using paper
Most ID theft happens from thieves grabbing personal information off paper. One solution is to stop using paper, and back it up with more secure forms of online communication. Here is an interesting read: ID Theft White Paper
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Sanjeev Sachdev, 27 May 2007 @ 3:51am

Best Identity Theft Guide
With the opening up of World Wide Web, and the internet cutting across all physical logistical borders, Identity Theft has become one of the biggest menaces in this well connected world. Visit us at www.best-identity-theft-guide.com to know more about online frauds and protect your hard earned money.
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