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Ted Wright -- last update 2/1/2007 (ChamberFeb1.html)
Copyright 2007 -- Collinsville, Oklahoma
Chamber of Commerce
Feb. 1, 2007
Theft Laws Unknown To Most
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Laws Increase Business Liability For Protecting Customer's Private Information
Collinsville Chamber of
Commerce members (by show of hands) were mostly surprised by legislation already
in effect which makes businesses liable for damages caused by mishandling
(or loss) of their customer's private information. Most people are aware of
identity theft issues related to credit cards, but the Chamber speaker (Herman
Luette, Certified Identity Theft Risk Management Specialist) presented a larger
scope of issues. The five major identity theft areas cover: financial data,
medical data, character/criminal identity, driver's licence misuse and social
security number theft/misure by illegal immigrants.
The cost to individual
victims of identity theft (money lost & time spent trying to clear their
records) continues to increase. Individuals impacted by identity theft also
cost their employers in lost time working thought issues for months during
FACTA (Fair and Accurate
Credit Transactions Act), HIPPA (for medical record restrictions), and the
Gramm, Leach, Biley Safeguard Rule were cited as legislation attempting to
protect our private information which is used by identity thiefs.
Luette (from CITRMS)
Chamber meeting is March 1st
While I appreciate the effort to make my personal data more secure,
it is my belief (as usual) that the government has the emphasis on the
wrong problem. Trying to retroactively remove or restrict data from
the public domain (i.e. the internet and millions of business and government
databases) is effectively impossible. I would prefer to see an effort
to prevent someone (other than myself)
from easily using my readily available data [e.g.
social security number, bank account number on every check, mother's
maiden name, signature, ...etc] to obtain a credit card,
use a credit card for any purchase, get a loan, and almost any other
business transaction. There has to be some way to keep most of the convience
of "instant transactions" with physical confirmation (by finger
print or retinal scan or other?) and be verified from a central national/international
database which at least has a chance of being secured.
-- Just my two
cents worth ...
-- Ted Wright 2/1/2007