Business Articles

Businesses have special concerns when it comes to identity crime. This sections offers information to help business enterprises address these concerns, including security, prevention, and recovery aid. There are also links to applicable laws and government agencies focused on helping businesses handle the impact of identity crime.

Psychic in Connecticut Indicted on ID Theft, Forgery Charges in New York City
Janet Lee, also known as “The Greenwich Psychic,” has been indicted on charges of identity theft, forgery, and criminal possession of a forged instrument, according to Cyrus R. Vance Jr., Manhattan District Attorney. The charges claims that Lee, 43, was involved in a real estate scam concerning a high-priced apartment in SoHo. She is charged with using stolen identity information…
U.S. Legislators Grill Wells Fargo CEO for “Identity Theft”
John Stumpf , the CEO of Wells Fargo, was called before the United States Congress to answer questions about the bank's breach of the public trust via activities characterized as fraud and identity theft. The grilling of Stumpf followed a fine of $185 million imposed in September 2016 on the bank for its practice of opening fee-generating accounts without authorization…
Accountants Can Help Clients Victimized by Tax-Related ID Theft
Tax preparation experts can help their clients if they become victims of identity theft arising from their tax filings. First of all, it is important to know how tax-related identity theft is defined and discovered and how to report it if it is found. The U.S. Internal Revenue Service (IRS) detects identity theft on filed tax returns by applying specific…
Saturday, 07 May 2016 23:51

Policy on Job-Related ID Theft Changed by IRS

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Policy on Job-Related ID Theft Changed by IRS
The United States Internal Revenue Service (IRS) plans to begin sending notifications to victims of job-related identity theft in a policy shift made in response to criticisms from the Congress. While the details of the policy change are yet to be defined, the agency will advise individuals about the possible misuse of their Social Security numbers. The criticism came during…
Thursday, 17 March 2016 21:22

Amazon Files Patent Application for Pay-by-Selfie

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Amazon Files Patent Application for Pay-by-Selfie
Amazon, the e-commerce mega store, plans to verify buyers using selfies. Rather than using a password, selfie authentication ensures more online security for users, says the company, noting the inherent weaknesses with password authentication. Passwords can be stolen and used by impersonators, plus they are difficult to remember, and entering passwords on mobile devices is not the most user-friendly of…
Silicon Valley Entrepreneur Venture to Stop Identity Theft
Vinny Lingham, the Silicon Valley entrepreneur who sold his virtual gift card service Gyft for over US$50 million in 2014, has launched a new venture designed to stop identity theft. The new start-up is called Civic, and with it, Lingham hopes to disrupt the online security industry. Because of the constant threat of hackers stealing sensitive information, the cyber security…
In 2015, Identity Theft Accounted for 53% of Data Breaches
Since 2013, over 3.6 billion data records have been exposed through data breaches, and according to Gemalto, which has been tracking these breaches since then, 58 percent of the hacks were performed by outsiders. Identity theft accounted for 53 percent of the breaches. Among the more surprising finds was the fact that the attacks had shifted from credit card and…