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Will 2006 Be Record Year For Online Identity Theft.

Mortgage Servicing News

| August 01, 2006 | Kersnar, Scott | COPYRIGHT 2006 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

NEW YORK -- Today there are about three times more identities of U.S. residents on record than there are actual residents. Statistics cited at by the Privacy Rights Clearinghouse show that the first six months of 2006, over 32 million U.S. identities were stolen in cyberspace. The site (www.privacyrights.org) includes a chronology of data breaches, and the institutions where they occurred, that resulted in 84 million Americans having their personal information compromised since the ChoicePoint incident in February 2005.

The bad news is that 2006 is likely to be the worst year ever for identity theft. The good news, says a company called Edentify is that actual losses from identity theft are continuing to fall.

Bethlehem, Pa.-based Edentify offers patented measures for companies and individuals to prevent identity theft, including an "identity escrow account," very similar to PayPal, that enables consumers to maintain ownership of their own biometric identity verification for every ...

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Source: HighBeam Research, Will 2006 Be Record Year For Online Identity Theft.

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