Banks Start To Realize Identity Theft Is Expensive

from the oh,-look-at-that... dept

One of the big complaints by victims of identity theft is that the various banks and law enforcement agencies don’t really care that much, leaving the individual to have to pick up the pieces themselves. The banks and credit card companies, in particular, have shown a remarkable lack of interest in solving the whole identity fraud issue (though, they’ll charge you extra for identity fraud alerts!). However, they’re beginning to realize that identity theft is expensive to them too, and claim they’re really trying to do something about it this time. Still, things like disposable credit card numbers aren’t very well promoted, and no one seems to be doing much about reforming how credit agencies work in the first place. Reforming that process would be a huge step in stopping identity theft.

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Comments on “Banks Start To Realize Identity Theft Is Expensive”

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E Michael says:

You have no idea

Im a retired detective from LAPD. My last 9 years was with the Bunco Forgery divison. ID theft and Credit card fraud was out of control when I left in 1990, today with computers it is way on beyond understanding. A lot of the problems was with the credit card companies who could absorb all of the fraud and still make tons of money. The company didnt care about the customer at all. Same goes with the bank. Fraud losses, just a tax write off.

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