ID Theft Indictment

The indictments of three individuals allegedly responsible for five corporate data breaches including the single largest data breach in history is a reminder of the risk businesses face from this threat. Yesterday’s indictment by the Department of Justice describes a scheme in which more than 130 million credit and debit card numbers together with account information were stolen from payment processor Heartland Payment Systems, 7-Eleven Inc and supermarket chain Hannaford Brothers Co. For more on this story, check out today’s New York Times article by Brad Stone. ID theft remains the number one consumer complaint received by the Federal Trade Commission (FTC), accounting for 32 percent of all fraud complaints in 2007. Some 258,427 identity theft complaints were reported to the FTC in 2007, up 5 percent on the previous year. Check out I.I.I. info on ID theft.

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