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Spokane, Washington  Est. May 19, 1883

Everyday Economy

ID thefts a growth industry

Identity thefts rose almost 50 percent last year -- and most of the companies victimized had few protections in place to safeguard consumers.

In fact, most companies victimized -- 91.5 percent -- didn't even require passwords to access consumer information.

That's according to a new report from the Identity Theft Resource Center, which reported a 47 percent increase in "data breaches" in 2008. In total, the center reported 656 breaches, exposed more than 35 million consumers.

What compromises a "data breach"? Here's an excerpt from a post at WalletPop:

It means that a company holding your private information (typically credit card numbers and/or social security numbers) had its computer systems hacked. Your private information then sits in the hands of criminals.

Read the full post here. And here's a more detailed story at consumeraffairs.com.

The identity theft center is a non-profit group. Read its full report here. And here's a list of each breach from 2008.

Among the horror stories on the list: Information for nearly 17,000 Hurricane Katrina victims was inadvertently posted on public websites; a Colorado office manager used company employees' information to create false accounts and embezzle $3 million over seven years; a Library of Congress employee used agency workers' information to set up fake credit card accounts.

No cases from Spokane or Kootenai counties are on the list. One from Pierce County involves the theft of more than $800,000 from debit card information stolen at a gas station.

The breach list reinforces a scary truth about identity theft. While it may be rare, it happens in circumstances that are completely routine for most of us -- giving our Social Security number to our employer or bank, handing over a credit card at the gas station, providing personal information on government applications.

Have you or anyone you know been victimized by ID thiefs?

 

 



Shawn Vestal
Shawn Vestal joined The Spokesman-Review in 1999. He currently is a columnist for the City Desk.

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