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Identity Theft

Welcome to the News View for "Identity Theft".

Here, on these archive pages, you'll find all of the articles on Payments News for Identity Theft listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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October 22, 2014

Headline News from - October 22, 2014

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here:!

September 17, 2014

Headline News from - September 17, 2014

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here:!

May 28, 2014

MasterCard Strengthens U.S. Cardholder Security

MasterCard logo 140pxMasterCard has announced new enhancements intended to provide its U.S. cardholders with greater protection from fraud and identity theft.

All MasterCard credit, debit, prepaid and small business cards issued in the U.S. will now carry Identity Theft Resolution assistance. MasterCard says its new program will provide help in canceling missing cards and alerting credit reporting agencies, as well as targeting searches to detect if stolen personal and confidential data appears online. The new Identity Theft coverage extension begins in July 2014.

MasterCard is also extending its zero liability policy in the U.S. to include all MasterCard PIN-based and ATM transactions. This is in addition to coverage already provided on signature debit and credit transactions. The Zero Liability coverage extension takes effect in October 2014.

“Fraud prevention and detection is a 24/7 job at MasterCard. The changes that we’re making in cardholder protection combined with our efforts to move the U.S. payments industry to EMV chip technology will help deliver safer shopping experiences to consumers,” said Chris McWilton, president, North American Markets for MasterCard.

MasterCard noted that tanks and financial institutions issuing MasterCard-branded cards provide financial indemnity against fraud.

February 07, 2014

Headline News from - February 7, 2014

The second edition of our book "Payments Systems in the U.S." has just been published. It's available in print from and in an ebook version for your iPad.

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Do you have news to share? Tell us here:!

October 21, 2013

Headline News from - October 21, 2013

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated. Find something interesting to share? Tell us about it:!

May 07, 2013

Headline News - May 7, 2013

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Note: Headline News is compiled by Glenbrook Partners. Throughout the day, as we spot interesting developments, this post is updated.

February 10, 2010

Javelin Study Finds Identity Fraud Reached New High in 2009

Javelin Strategy & Research has announced results from its 2010 Identity Fraud Survey Report - finding that "the number of identity fraud victims in the United States increased 12 percent to 11.1 million adults in 2009, while the total annual fraud amount increased by 12.5 percent to $54 billion. The report found that protection of data by consumers and businesses and enlisting assistance in resolution are helping consumers and businesses resolve fraud more quickly, and are also reducing or eliminating costs for the consumer. Average fraud resolution time dropped 30 percent to 21 hours, and nearly half of new victims file police reports, resulting in double the reported arrests, triple the prosecutions, and double the percentage of convictions in 2009." READ MORE »

September 11, 2009

Card Hacker Albert Gonzalez Pleads Guilty to 19 Counts

Thief-140px.jpgAlbert Gonzalez, 28, of Miami, pleaded guilty today to 19 counts of conspiracy, computer fraud, wire fraud, access device fraud and aggravated identity theft relating to hacks into numerous major U.S. retailers including TJX Companies, BJ's Wholesale Club, OfficeMax, Boston Market, Barnes & Noble and Sports Authority. Gonzalez was indicted in August 2008 in the District of Massachusetts on charges related to these hacks. More than 40 million credit and debit card numbers were stolen from major U.S. retailers as a result of the hacking activity.

Gonzalez also pleaded guilty to one count of conspiracy to commit wire fraud relating to hacks into the Dave & Buster's restaurant chain, which were the subject of a May 2008 indictment in the Eastern District of New York. The pleas in both cases were entered before U.S. District Court Judge Patti B. Saris in federal court in Boston. READ MORE »

February 09, 2009

Identity Fraud In US Increased 22 Percent, Costs Down 31 Percent

The 2009 Identity Fraud Survey Reportreleased today by Javelin Strategy & Research – confirms that the number of identity fraud victims has increased 22 percent to 9.9 million adults in the United States, while the total annual fraud amount only increased slightly by seven percent to $48 billion over the past year. READ MORE »

December 22, 2008

Federal Financial Regulators Issue Revised Identity Theft Brochure

The US federal bank, credit union, and thrift regulatory agencies have announced publication of a revised identity theft brochure titled You Have the Power to Stop Identity Theft icon_PDF_small.gif to assist consumers in preventing and resolving identity theft. The updated brochure focuses primarily on Internet "phishing" by describing how phishing works, offering ways to protect against identity theft, and detailing steps to follow for victims of identity theft. The brochure includes contact information for three major credit bureaus, where to report suspicious e-mails, and where to access additional information.

December 18, 2008

FTC Issues Report on Social Security Numbers, Identity Theft

The Federal Trade Commission has issued a report titled "Security in Numbers - SSNs and ID Theft" icon_PDF_small.gif recommending five measures to help prevent Social Security numbers from being used for identity theft. Principal among the report’s recommendations is that Congress consider taking action to strengthen the procedures that private-sector organizations use to authenticate their customers’ identities. READ MORE »

December 17, 2008

LifeLock Enters Into Agreement With TransUnion

LifeLock has announced that it has entered into "an agreement that will leverage TransUnion's secure, automated processes to expedite and enhance the delivery of identity theft services that LifeLock currently provides to its members." READ MORE »

November 03, 2008

A Look at the FTC's Red Flags Rule Enforcement Delay

In an article on his Payments Industry Regulation blog titled "FTC Red Flags Rule Enforcement Delay -"What Red Flags Rules?"", our friend and colleague Broox Peterson takes a look at the FTC's recent decision to delay compliance requirements to May 1, 2009 "for entities under its jurisdiction to comply with the "Red Flags" rules".

Broox writes: "The FTC discovered during outreach and education attempts after adoption of the regulation that many of the entities subject to the Red Flags rule were not aware that such a rule existed, much less that they were subject to it, or even that they were subject to FTC jurisdiction at all."

October 21, 2008

PayPal Studies Differences in Identity Theft by Country

PayPal has announced results of a new study finding that "online consumers in English-speaking countries are the most frequent victims of identity theft, twice the rate of France, Germany and Spain." The research, conducted for PayPal by Ipsos, examined online security fears and habits in the United States, Canada, France, Germany, Spain and the United Kingdom. READ MORE »

June 30, 2008

Identity Theft, Financial Fraud Remain Top Concerns for Consumers

Fears about identity theft and financial fraud are top global concerns for consumers, according to the latest results of the Unisys Security Index. Identity theft is the primary security concern cited among respondents in nine out of 14 countries, while misuse of credit or debit card information ranks as the first or second greatest fear in 12 out of the 14 countries. Interestingly, the survey found an apparent lack of concern about using the Internet to shop, bank and email. According to Unisys, the data indicates that concern about Internet security has taken a back seat to other areas studied, such as issues related to financial well-being and the protection against bank card fraud. READ MORE »

June 04, 2008

5th Annual Identity Theft Aftermath Study

The Identity Theft Resource Center has today released its 5th Annual Identity Theft Aftermath Study discussing the impact of identity theft on victims. According to the center, the Aftermath is the only study of its kind. It reflects only the experiences of confirmed identity theft victims who have worked with the ITRC, and is not a census or general population-based study. The questions asked ranged from the emotional impact this crime has had on their lives all the way through to their ability to recover their good name. It includes the financial loss to the business community in goods and services. READ MORE »

May 23, 2008

Trusteer Partners with ING DIRECT

ING DIRECT has announced that it has partnered with Trusteer to become the first US bank to offer Trusteer’s Rapport consumer Identity Theft protection software free to all of its customers. READ MORE »

May 20, 2008

Unisys Security Index Finds Bank Customers Concerned

The latest U.S. results of the Unisys Security Index find that Americans are more concerned than they were seven months ago about national security issues and health epidemics and are increasingly concerned about financial security issues and worries about identity theft. READ MORE »

April 30, 2008

Identity Theft Prevention Programs - Do You Have One?

Anita Boomstein, an attorney with Hughes Hubbard & Reed, has published a paper titled 'Identity Theft Prevention Programs: Will Your Company Need to Have One?' icon_PDF_small.gif. Her paper reminds companies of their obligations under the Fair and Accurate Credit Transactions Act (FACTA) to take steps to 'prevent, detect and mitigate the occurences of identity theft.' Compliance becomes mandatory on November 1, 2008.

April 16, 2008

Debix Expands National Identity Protection Network

Debix has announced the national launch of the expanded Debix Identity Protection Network. Debix says its network is 'the first and only identity protection solution that is with you during an attack and proactively stops identity theft at the moment it is attempted.' READ MORE »

April 02, 2008

Data Breaches More Than Doubled in 2008 First Quarter

Data breaches disclosed by Hannaford Bros Supermarket Chain, GE Money, and Georgetown University are just some of the 167 breaches reported during the first quarter of 2008, according to the non-profit Identity Theft Resource Center (ITRC). This is more than double the first quarter in 2007 (76 breaches).


February 21, 2008

Experian Files Suit Against LifeLock

Experian( has announced it has filed a lawsuit against LifeLock, Inc. "for allegedly placing fraud alerts illegally on credit files maintained by Experian."


February 11, 2008

Javelin's 2008 Identity Fraud Survey Report

Javelin Strategy and Research has published its 2008 Identity Fraud Survey Report finding that identity fraud is declining in most parts of the United States with a losses down about 12 percent over 2006. Javelin's James Van Dyke notes, however, that "there's a catch. In a back-to-the-future scenario, there was a sharp increase in "old-fashioned" mail and telephone fraud, including Vishing. These methods grew from 3% to 40%, pointing to thieves’ new creativity in gathering personal information by mail and telephone."


November 19, 2007

Identity Theft: The Aftermath 2006

The Identity Theft Resource Center has released a new report today discussing the impact of identity theft victimization. "This report was not based on a census survey but rather one that invited confirmed victims of identity theft in 2006 to respond to a series of 44 questions. These ranged from the emotional impact this crime has had on their lives and their ability to recover their good name to the financial loss to the business community in goods and services."


November 07, 2007

2007 Banking Identity Safety Scorecard

Javelin Strategy & Research has announced its 2007 Banking Identity Safety Scorecard, "an annual ranking and study of the top 25 U.S. banks in areas of identity fraud prevention, detection and resolution. This year, financial institutions showed strength in resolution practices, but vulnerability in prevention and detection."


November 02, 2007

Getting to Know Identity Thieves

In an article titled 'Getting to Know Identity Thieves', Washington Post personal finance columnist Michelle Singletary writes about the recent review of actual identity theft cases conducted by the Center for Identity Management and Information Protection. "What I learned from this report was this: You can't trust any business or anybody, even family members."

October 29, 2007

Annals of Synthetic Identity Fraud

In an article titled 'The Borrower Who Never Was', Christopher Conkey writes for the Wall St. Journal about synthetic identity fraud - where made up identities are used to perpetrate financial fraud. "This kind of fraud doesn't usually directly affect consumers. The big losers are banks, which get stuck with loan defaults and unpaid credit-card bills that identity thieves leave behind."

October 22, 2007

Identity Fraud Trends and Patterns

Utica College’s Center for Identity Management and Information Protection has published the results of what it is calling "a landmark study of closed U.S. Secret Service cases involving identify theft."


October 04, 2007

Experian to Offer Credit Report File Freeze to Consumers Nationwide

Experian has announced that it will offer "the option to freeze credit reports to consumers nationwide. Beginning Nov. 1, Experian will allow any consumer across all 50 states, the District of Columbia and U.S. Territories to place a freeze on their credit report. A credit file freeze prevents new creditors from accessing the credit file without the consumer's consent."


September 18, 2007

TransUnion Announces File Freeze Option in all 50 States, D.C.

TransUnion has announced that effective October 15, 2007, it will offer what it its calling "the credit reporting industry's first complete file freeze solution" - providing U.S. consumers in all 50 states and the District of Columbia with the ability to freeze their credit files, should they feel that step is warranted.


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