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Some identity theft is easier to stop

Cleaner faces identity theft charge after allegedly taking credit card from bank. According to the criminal complaint, earlier this year the vice president of Hometown Bank in Fond du Lac noticed that a credit card kept in an unlocked drawer in the bank was missing. Upon further investigation, nearly $400 in charges had been assessed to the account.

Don't forget to clean your desk and lock up all personal and private information before you head home.

Should companies care about privacy breaches?

Large companies do not have an economic incentive to prevent privacy breaches occurring, according to researchers from Harvard and Carnegie Mellon Universities this week.

The researchers studied 78 breaches from 2000 to 2006 in publicly traded companies, and looked at whether there was any major change in the stock price. Overall, stock dipped sharply on the first and second days after a breach was revealed, but started to climb on the third, and eventually reached pre-breach levels.

Credit Monitoring is a Feel Good Answer, But a False Sense of Security

The San Diego based Institute of Consumer Financial Education (ICFE), which has professional certification programs for credit report reviewers and identity theft risk management specialists, cautions potential victims to carefully review and understand the limitations of credit monitoring. Credit monitoring will not alert the consumer if someone has obtained a drivers license, birth certificate, Social Security card, or used their name during interactions with law enforcement, resulting in arrest warrants or erroneous criminal records.

Many ID theft services companies actually claim that their service protects or even guarantees against identity theft. This is a marketing claim proven wrong time and time again and also one that is clearly disputed by privacy experts and consumer advocates alike.

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