Thursday, November 26, 2009

Money & Business

Stolen names, stolen lives

Fake IDs helped the terrorists; but don't expect a quick fix for identity theft

By Margaret Mannix
Posted 11/4/01
Page 3 of 3

But most fixes plug only some holes, not all. Legislation has been introduced in Congress to prevent identity theft. Motor vehicle administrators vow to shore up the integrity of driver credentials. Proposals abound calling for retina scans, fingerprinting, and a national ID card. None are likely to be enacted soon. Since September 11, that business-as-usual pace has victims madder than ever. Says Mitchell: "I'll be damned if my savings account is going to be accessed to finance some terrorist to crash into a building."

Identity ripoff

The FTC maintains profiles of some 94,000 identity-theft victims. The major offenses:

Share of stolen identities used for:

Credit card fraud 43 pct.

Purchase of phone or utility service 20 pct.

Loans and bank fraud 20 pct.

Employment 8 pct.

Government documents or benefits 7 pct.

Note: Victims may experience more than one form of identity theft.

Source: Federal Trade Commission

Rob Cady--USN&WR

The numbers to call

What To Do

Victims of identity theft should contact the Federal Trade Commission's Identity Theft Clearinghouse. Its Web site (www. consumer.gov/idtheft) and the counselors who staff the toll-free hotline (877-438-4338) provide advice and refer complaints to law enforcement.

To alert the major credit bureaus to your plight, call:

Equifax 800-525-6285

Experian 888-397-3742

TransUnion 800-680-7289

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