K
Ken Smith
Guest
In article <es6ldg$8qk_001@s985.apx1.sbo.ma.dialup.rcn.com>,
<jmfbahciv@aol.com> wrote:
Your bank has to also agree before money can leave your account. You can
pick the bank with the better policies.
[....]
that you are trying to tell me that is incorrect. You even followed this
with an example of something else that can be done. Read your own text
below.
[.....]
backwater you live in.
granting the point.
the risk. Nothing but a little subjective comfort is gained by having the
person in the loop. Unless you go to the bank hourly, a person is more
than fast enough to completely mess things up while you aren't looking.
From here:
http://www.post-gazette.com/pg/06026/644909.stm
**** begin
Pittsburgh, Pa.
Identity theft complaints still rising, but rate slows
Thursday, January 26, 2006
By Christopher Conkey, The Wall Street Journal
Businesses, law-enforcement agencies and consumers may be beginning to
turn the tide in the war against identity theft, data from the Federal
Trade Commission suggest.
Identity-theft complaints were up again last year to nearly 256,000, the
FTC said, but that was only 3.5 percent higher than the year before. In
2004, complaints rose by 15 percent and in 2003 by 33 percent.
Complaints about credit-card fraud -- the largest subset of identity theft
-- declined 1.3 percent last year to 67,228, from 68,113 in 2004, and were
also lower than the 2003 level. Total consumer-fraud complaints --
including identity theft -- totaled 686,683 last year, up slightly from
2004.
Industry officials and analysts say the development and widespread
adoption of antifraud technologies are responsible for lower levels of
card fraud. Visa USA Inc. said investments in its risk-management systems
have reduced fraud levels to six cents for every $100 processed, down from
12 cents a decade ago.
Separately, the FTC is expected to announce Thursday tough action against
a company at the center of the personal-data industry. ChoicePoint Inc. is
expected to agree to pay a multimillion-dollar penalty to settle alleged
data-security violations stemming from a yearlong investigation by federal
regulators, according to a person briefed on the matter. ChoicePoint
spokesman Chuck Jones declined to comment.
ChoicePoint, which sells consumer data to financial institutions and
government agencies, last February disclosed that criminals posing as
legitimate businessmen had fraudulently obtained personal information on
145,000 people. That figure was later revised to 162,000 people.
In order to prevent fraud, many companies have turned to real-time
fraud-scoring systems, which -- much like credit-scoring models -- assign
three-digit scores to credit applications based on a variety of data
confirmations and behavioral examinations. Steven Gal, vice president for
corporate development at ID Analytics, a San Diego company that provides
fraud-detection services, says his company screened over 250 million
applications last year for potential fraud, a fourfold increase from 2004.
The FTC figures offer a rare bit of hopeful news for consumers concerned
that the recent string of security breaches at credit-card processors and
banks will place them at risk, and for a financial industry continually
under attack by computer fraud and other scams.
To be sure, identity theft remains a huge threat that costs businesses $50
billion a year and plunges victims into a draining, time-consuming battle
to eradicate fraudulent activity. The FTC will release a survey this
spring, but its most recent figures show that 10 million people, or
roughly 4.6 percent of the adult population, are affected by identity
theft each year, and that victims spend an average of $500 and 30 hours to
clear their records.
The FTC report, based on data the agency receives from consumers, comes
after a year of high-profile security lapses that exposed personal
information belonging to more than 50 million consumers and familiarized
many people with the crime of identity theft. Just Wednesday,
financial-services provider Ameriprise Financial Inc. announced that the
theft of one of its employees' laptops had compromised the data of some
226,000 clients and current and former workers.
Such breaches have led to an outcry from consumer advocates, and lawmakers
across the country moved to enact stiffer penalties and stronger
protections. Legislation in Congress has stalled, but many states have
enacted laws that force companies to disclose breaches or allow consumers
to shield their credit reports from unauthorized access.
FTC Chairman Deborah Platt Majoras stressed how important it is for
consumers to file complaints when they are victimized, saying they
"provide ammunition that helps law enforcers fight fraud and identity
theft."
When the agency receives identity-theft complaints, they are analyzed,
clustered with similar ones and made available to law-enforcement
officials to assist with investigations and criminal trials. Betsy Broder,
the attorney in charge of the FTC's identity-theft program, says the
agency's database now contains more than one million complaints, which are
used by law enforcement in investigations and criminal trials.
The FTC's complaint data showed that identity theft accounted for 37
percent of total fraud complaints. For the fourth year in a row,
Washington, D.C., was the leader in total per-capita fraud complaints, and
several Western cities led in the category of identity-theft complaints,
including Phoenix, Las Vegas and Los Angeles.
Meanwhile, identity-theft complaints surged in hurricane-ravaged
Louisiana, rising 26 percent last year, while Mississippi saw an 8 percent
increase. Complaints related to "government documents or benefits" in
Louisiana more than doubled, however, to 551 from 247, possibly an
indicator of post-Katrina fraud.
Overall, the drop in credit-card fraud complaints was offset by an
increase in complaints about the misuse of government records, and fraud
involving things such as medical records, legal documents and fitness-club
memberships. Bank-, phone- and utilities-related complaints stayed roughly
the same, although complaints about electronic fund transfers rose.
Sophisticated identity thieves are always probing for vulnerabilities. One
troubling trend emerged late last year, when the Securities and Exchange
Commission warned that identity thieves were using keystroke-detecting
programs to drain online brokerage accounts. Similarly, federal banking
regulators have prodded financial institutions to move beyond
"single-factor" authentication, which only requires a user name and
password to gain access to accounts, by the end of this year.
For many consumer advocates, the focus is squarely on financial
institutions to do more to catch identity thieves in the act. Beth Givens,
director of the Privacy Rights Clearinghouse, says "there are some
technology-based tools they can use, and there's some evidence showing
that these tools are having marked effect. But sadly for victims, identity
theft remains rampant."
(John R. Wilke contributed to this article.)
--
--
kensmith@rahul.net forging knowledge
<jmfbahciv@aol.com> wrote:
As I pointed out this is more for the deposit end than the withdrawing.In article <es1h1n$89d$2@blue.rahul.net>,
kensmith@green.rahul.net (Ken Smith) wrote:
[.....]
This is likely a very different matter than the money leaving the account
it was in. When I put money in my bank accound at the "electronic
teller", I punch in the amount in the checks. The bank shows my balance
increased by the amount I entered. They actually give two numbers. The
first is the new balance the second is how much is "available". When I
first started with the bank the available amount would only increase the
next day after they've looked at the contents. These days the numbers are
the same.
Do krw's suggestion and google "check 21". That's what is getting
advertised here which will allow anybody to deposit via a scanner.
Retail and commercial stores are already doing this.
Your bank has to also agree before money can leave your account. You can
pick the bank with the better policies.
[....]
Yes you've been trying to tell me many things. This is just another thingWait a while, then. All of my monthly bills now say this.
I will take some sort of action if they start any nonsense like that with
me.
I've been trying to tell you that there is no sort of action to take
that you are trying to tell me that is incorrect. You even followed this
with an example of something else that can be done. Read your own text
below.
other than the strategies I've been talking about in this thread drift.
I fired American Express credit card because this is the only way
they process receipts. Since their check-handling section was
not doing things well, I fired them. I got another credit card
whose data bases have never seen my finiancial key information.
Until another method of payment is developed, that's the way it
is going to stay. Now this approach is not a viable one for
people who workb because it take too much wallclock time to
pay the credit card bill.
[.....]
You can move some of your money into a bank at some distance to the littleI thought about having two banks but that won't work in this area.
Banks change their names and merge and split honoring the rules of
musical chairs.
backwater you live in.
Since you didn't put in a real argument against, I assume you are now[....]
The Fed is attempting to make the process all electronic. I trust humans
about as little as I trust computers so I don't see much of a change in
security in this. Back when everything was on paper, someone could empty
your account with a fraud. All that has happened is that the tools have
changed a bit.
Not only have the tools changed, but the speed of the transactions
are now in picoseconds and the number of transactions made has
increased enormously/minute.
Those are issues of quantity not quality.
Exactly. Quality is out the window.
[Blame my fingers for that one; I didn't do it.]
granting the point.
The person was a major source of error. They slowed it down and increasedIn addition, no human is in the middle
of the process so there is nobody to notice if something goes wrong
and push the stop button.
That person in the middle was more likely to make an error than prevent
one,
The sole purpose of having that person in the middle was to slow
the process down. This was a good thing. Eliminating it has opened
all flavors of worm cans.
the risk. Nothing but a little subjective comfort is gained by having the
person in the loop. Unless you go to the bank hourly, a person is more
than fast enough to completely mess things up while you aren't looking.
I grant that there has been an increase but the tide is turning:a lot of this identify theft in the news is possible because
no human needs to OK transactions. Banking is no longer local
and most of it now is impersonal.
The identity theft crime has been going on from before when there were
computers. The problem is that people allow important information about
themselves to be stolen from obvious places.
Not any more. Eliminating the requirement of human interaction has
caused the rate of incidences to increase astronmically.
From here:
http://www.post-gazette.com/pg/06026/644909.stm
**** begin
Pittsburgh, Pa.
Identity theft complaints still rising, but rate slows
Thursday, January 26, 2006
By Christopher Conkey, The Wall Street Journal
Businesses, law-enforcement agencies and consumers may be beginning to
turn the tide in the war against identity theft, data from the Federal
Trade Commission suggest.
Identity-theft complaints were up again last year to nearly 256,000, the
FTC said, but that was only 3.5 percent higher than the year before. In
2004, complaints rose by 15 percent and in 2003 by 33 percent.
Complaints about credit-card fraud -- the largest subset of identity theft
-- declined 1.3 percent last year to 67,228, from 68,113 in 2004, and were
also lower than the 2003 level. Total consumer-fraud complaints --
including identity theft -- totaled 686,683 last year, up slightly from
2004.
Industry officials and analysts say the development and widespread
adoption of antifraud technologies are responsible for lower levels of
card fraud. Visa USA Inc. said investments in its risk-management systems
have reduced fraud levels to six cents for every $100 processed, down from
12 cents a decade ago.
Separately, the FTC is expected to announce Thursday tough action against
a company at the center of the personal-data industry. ChoicePoint Inc. is
expected to agree to pay a multimillion-dollar penalty to settle alleged
data-security violations stemming from a yearlong investigation by federal
regulators, according to a person briefed on the matter. ChoicePoint
spokesman Chuck Jones declined to comment.
ChoicePoint, which sells consumer data to financial institutions and
government agencies, last February disclosed that criminals posing as
legitimate businessmen had fraudulently obtained personal information on
145,000 people. That figure was later revised to 162,000 people.
In order to prevent fraud, many companies have turned to real-time
fraud-scoring systems, which -- much like credit-scoring models -- assign
three-digit scores to credit applications based on a variety of data
confirmations and behavioral examinations. Steven Gal, vice president for
corporate development at ID Analytics, a San Diego company that provides
fraud-detection services, says his company screened over 250 million
applications last year for potential fraud, a fourfold increase from 2004.
The FTC figures offer a rare bit of hopeful news for consumers concerned
that the recent string of security breaches at credit-card processors and
banks will place them at risk, and for a financial industry continually
under attack by computer fraud and other scams.
To be sure, identity theft remains a huge threat that costs businesses $50
billion a year and plunges victims into a draining, time-consuming battle
to eradicate fraudulent activity. The FTC will release a survey this
spring, but its most recent figures show that 10 million people, or
roughly 4.6 percent of the adult population, are affected by identity
theft each year, and that victims spend an average of $500 and 30 hours to
clear their records.
The FTC report, based on data the agency receives from consumers, comes
after a year of high-profile security lapses that exposed personal
information belonging to more than 50 million consumers and familiarized
many people with the crime of identity theft. Just Wednesday,
financial-services provider Ameriprise Financial Inc. announced that the
theft of one of its employees' laptops had compromised the data of some
226,000 clients and current and former workers.
Such breaches have led to an outcry from consumer advocates, and lawmakers
across the country moved to enact stiffer penalties and stronger
protections. Legislation in Congress has stalled, but many states have
enacted laws that force companies to disclose breaches or allow consumers
to shield their credit reports from unauthorized access.
FTC Chairman Deborah Platt Majoras stressed how important it is for
consumers to file complaints when they are victimized, saying they
"provide ammunition that helps law enforcers fight fraud and identity
theft."
When the agency receives identity-theft complaints, they are analyzed,
clustered with similar ones and made available to law-enforcement
officials to assist with investigations and criminal trials. Betsy Broder,
the attorney in charge of the FTC's identity-theft program, says the
agency's database now contains more than one million complaints, which are
used by law enforcement in investigations and criminal trials.
The FTC's complaint data showed that identity theft accounted for 37
percent of total fraud complaints. For the fourth year in a row,
Washington, D.C., was the leader in total per-capita fraud complaints, and
several Western cities led in the category of identity-theft complaints,
including Phoenix, Las Vegas and Los Angeles.
Meanwhile, identity-theft complaints surged in hurricane-ravaged
Louisiana, rising 26 percent last year, while Mississippi saw an 8 percent
increase. Complaints related to "government documents or benefits" in
Louisiana more than doubled, however, to 551 from 247, possibly an
indicator of post-Katrina fraud.
Overall, the drop in credit-card fraud complaints was offset by an
increase in complaints about the misuse of government records, and fraud
involving things such as medical records, legal documents and fitness-club
memberships. Bank-, phone- and utilities-related complaints stayed roughly
the same, although complaints about electronic fund transfers rose.
Sophisticated identity thieves are always probing for vulnerabilities. One
troubling trend emerged late last year, when the Securities and Exchange
Commission warned that identity thieves were using keystroke-detecting
programs to drain online brokerage accounts. Similarly, federal banking
regulators have prodded financial institutions to move beyond
"single-factor" authentication, which only requires a user name and
password to gain access to accounts, by the end of this year.
For many consumer advocates, the focus is squarely on financial
institutions to do more to catch identity thieves in the act. Beth Givens,
director of the Privacy Rights Clearinghouse, says "there are some
technology-based tools they can use, and there's some evidence showing
that these tools are having marked effect. But sadly for victims, identity
theft remains rampant."
(John R. Wilke contributed to this article.)
--
--
kensmith@rahul.net forging knowledge