Fraudsters Selling Consumer Credit Reports Obtained from Legitimate Sources

Fraudsters have been selling identity information online in the black market for over a decade, but a recent investigation found fraudsters are selling full credit report information which they were able to obtain from sources such as the AnnualCreditReport.com initiative started by the FTC.

Read More

State Creates Program to Reduce Child ID Theft

In recent years child identity theft has been a growing problem, but Trans Union and the state of Utah have teamed up to create a program that flags applications for credit when a child’s Social Security number is used.

Read More

FTC Reports Identity Theft Still Leading Consumer Complaint

The Federal Trade Commission (FTC) tallied over 1.8 million consumer complaints in 2011 of which 15 percent were about identity theft, making this the leading consumer complaint for the twelfth straight year.

Read More

Fraudster Posed as Debt Collection Company to Obtain Consumer Identities

A fraudster was sentenced to over 17 years in prison for devising a scam where he registered fake debt collection companies to gain access to consumer PII which he then used to open almost 600 fraudulent credit card accounts.

Read More

Identity Fraud Ring Hijacked Consumer Retail Credit Accounts

An investigation by the New York Attorney General led to the arrest of seven in an identity fraud scheme where the fraudsters impersonated consumers at retail stores in attempts to take over their store credit card accounts, the fraudsters have been accused of operating this scam since at least 2008.

Read More

Legislation in the Works that Could Affect Future Trends in Fraud

New legislation may provide fraudsters with legal loopholes. The Credit Card Accountability, Responsibility, and Disclosure (CARD) Act includes regulation that prohibits providing information about newly opened accounts before they are activated by customers, which could create an increase in fraudulent credit card applications.

Read More