Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
ID thefts with victims names on cards rise
PLEASANTON, Calif. (6/9/09)--The number of identity thefts where fraudsters obtained credit cards using victims' names rose during 2008, according to Javelin Strategy and Research. Javelin attributed the increase to a credit card loan application process that requires less verified information and is easier than other types of loan applications. Also, credit cards provide the most financial gain for thieves, who often don't get caught (CardLine June 8). The results, published by the Pleasanton, Calif.-based firm last week, are based on a survey conducted by the firm of 4,784 U.S. consumers last year. Of those responding, 487 said they had been victims of identity theft. Of the identity theft victims, 146 indicated that a variety of fraudulent new accounts had been opened using their name. Among the new-account fraud victims, one-third said criminals had opened new credit card accounts in their name, up from 26% from the previous year's survey. Other findings:
* Twenty-six percent of the victims said fraudsters opened new store-branded credit cards in their names, down from 29% in 2007. * Fifteen percent reported other types of fraudulent loans were in their names, down from 21%.
Other Resources

RSS print
News Now LiveWire
#NewsNow: @CFPB offers tips for consumers who think their credit/debit cards have been hacked. http://t.co/rHnfYkJPIj
8 hours ago
See who's 1st to earn @CUNA's new biz development designation #NewsNow http://t.co/vn5ch4HkRC
9 hours ago
Joe Bergeron, president/CEO of the Association of Vt. CUs, has been re-elected to the board of the @NCBACLUSA
10 hours ago
NCUA reminds: CU managers/directors looking to improve leadership skills still can register 4 Leadership Boot Camps. http://t.co/0AUtIpWNqr
10 hours ago
Australia's Customer Owned Banking Association is @fileneresearch 's latest Gold benefactor.
12 hours ago