It’s Costing Us $5 Billion A YEAR!
This was posted 7/2 on ProtectYourGoodCredit.com. I am posting it here today because over the weekend, there were several more major news reports regarding this increasing threat to Americans. Additional reports and information will follow on ProtectYourGoodCredit.com.
On CNN.com last week, a headline read “FTC chief’s credit card data stolen”. If you read the article, it outlines how Federal Trade Commission chief Deborah Platt Majoras’ personal credit card information was stolen along with 1.4 million other’s from a company database. Majoras received a letter from DSW notifying her of the theft last week.
The security breach of the Ohio-based company occurred in March, however, consumers were not notified until after the attorney general of Ohio filed a suit to force the retailer to contact it’s compromised customers. Customers located within 25 different states were affected. The article also includes the following statistics on identity theft:
Nearly 10 million people fall victim to identity theft annually, costing consumers $5 billion in out-of-pocket losses and businesses $48 billion, according to the FTC.
So my question is, if the FTC and other agencies are collecting and recording the data necessary to provide these statistics, WHY has this been allowed to continue and what is it going to take for Congress to finally take action?
And what is Congress spending it’s time doing? Battling back and forth over whether or not the next Supreme Court justice appointee is going to be pro- or anti-abortion. They are trying to legislate morality and/or prohibit individual choice while the American people continue to be financially raped and pilladged by creditors who are selling them out for profit!
That’s right, with the next election campaign cycles for the Presidency (in 2008) and Congress (in 2006), already underway, our elected officials are spinning into partisan, single-minded focus on yet another political nomination, while 10 million Americans are being devastated or placed at risk by the failure of credit information brokers exercising due diligence in the protection of our personal identity information.
Until this threat is acknowledged as serious to our well-being as a nation and our elected officials are compelled to take action, that number will continue to increase.