Posted on 10/22/2001 5:19:47 PM PDT by callisto
Computer intrusions, extortion, spam also on the rise
The number of identity thefts reported by banks and other financial institutions is on the upsurge again in 2001 after more than doubling last year, according to a new report released Monday. From January to the end of April this year, the U.S. Treasury’s Financial Crimes Enforcement Network received 332 reports of identity theft, compared with 637 cases over the whole of 2000 and 267 cases in 1999.
“THAT AMOUNTS TO a 50 percent increase from the same period a year ago,” the agency noted in its semiannual review of trends in so-called suspicious activity reports (SARs) — which banks must file with the government on transactions that appear to be linked to money laundering or other criminal activities.
The number of SARs specifically related to identity theft has grown fast in recent years from just 44 cases in 1997, the first full year the reports were required.
In its latest review, the agency also highlighted the addition last year of “computer intrusion” as a category of suspicious activity for banks to monitor and report on. The term is defined as gaining access to banks’ computer systems to steal funds or data, or to try to damage the systems.
In the first year of the new requirement, the Treasury received 83 substantiated reports of computer intrusions, with 60 percent of the cases involving banks’ own employees trying to embezzle funds or perpetrate other frauds.
Other schemes uncovered included: virus intrusions, attempted “spam” e-mail attacks, the creation of phony replicas of banks’ Web sites to try to steal customer data, and the hacking and attempted extortion of at least four banks earlier this year by a Russian programmer.
Good idea. This is what the military uses.
Watch out, you can "choke" it easily.
I'm a career banker and training officer for a fairly large bank & I can confirm that you hit the nail on the head.
This is definitely intended as a way around the KYC problems from two years ago. Identity theft IS on the rise, but fractionally. The increases reflect primarily the fact that we have now given a name to other types of crime.
When I started 13 yrs ago - If you came through the drivethrough with someone elses checks and tried to present one made out to "cash" for a few hundred bucks we called that "theft". Now we often call it "Identity theft" because you are claiming to be that person. We lose the same amount either way and don't care what you want to call it.
The Target account was done by someone on foot walking into the store. When I told them that I am not ambulatory and require a scooter to get around and this was very distressing to me they finally removed it from my credit report. I suspect that part of the problem was one of the credit report places that saw a similarity in names and addresses and combined my accounts with the thief's. When I would write to explain that the bills were not mine they would never acknowledge that I had written so I began writing all over the forms they would send so they would have to see it.
Now I tell them that they have the wrong person and it is not my bill and to please stop harassing me or I will turn the matter over to my attorney. That broke the log jam and except for the one I mentioned came yesterday.
There is a growing problem with people using someone else's identification when they are arrested (either no ID on them or a fake ID); usually they will claim to be a family member (sister/brother) or a friend (from school). They will use that name and date of birth. If it's not a felony they are usually released pending trial. When they don't show up a warrant is issued.
If it was a gross misdemeanor the police may come to the home or place of work of the real person and arrest them, otherwise the warrant sits there until the person is stopped for a broken tail light, license renewal, etc.
Suddenly the real person is under arrest and insisting that they are innocent...which the officers hear all the time. When that person is booked in they are fingerprinted. At some point in time those prints will be compared to those from the original arrest for which the warrant was issued.
The innocent person will be released, but their name and date of birth will forever be in the system as an alias for the original person arrested; it cannot be removed. So two years down the line, the innocent person gets stopped for a broken tail light and guess what?
Recently we had a local case where a prostitute had used the same name/address repeatedly (an old school friend). Since she always showed up for trial and did her time there was never a chance to spot her false ID. She turned up dead and the police went to her home to notify her husband that his wife was dead...and she (the real wife) was sitting in the living room.
But where do you find a landfill large enough? (PLEASE don't say America).
Strange this is being highlighted right after the call for a national ID card, isn't it? I wonder if they juggled some stats. However, the rate seems to have doubled in previous years too. But when someone steals your identity, all the cops have to do is find someone openly claiming to be you. That should be easier to catch that other kinds of crimes so long as they know not to arrest the real you. =]
Freegards....
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