Identity Theft and the Elderly - Senator Larry Craig and Committee on Aging

Identity Theft and the Elderly

Jeff Schrade, a member of Senator Larry Craig's staff, sent me this press release and I thought it would be useful for site visitors:

Listen to the committe hearing "Identity Theft: The Nation's Fastest Growing Crime Wave Hits Seniors" live on July 18, at 9:30 am EST. A recording of the hearing will be made available after the hearning.

FOR IMMEDIATE RELEASE

July 11, 2002

AGING COMMITTEE TO HOLD HEARING ON IDENTITY THEFT AND THE ELDERLY

(Washington, DC) - With identity theft cases on the rise nationally, U.S. Senator Larry Craig announced today that the Special Committee on Aging will hold a hearing next week concerning identity theft and the elderly. Craig serves as the ranking member of the Committee and requested the hearing. An elderly victim, government and private sector experts will testify, and several identification technologies will be demonstrated including voice, fingerprint, and face profile recognition, and iris identification.

The hearing titled "Identity Theft: The Nation's Fastest Growing Crime Wave Hits Seniors" will be held Thursday, July 18, at 9:30 a.m. in room 628 of the Dirksen Senate Office Building in Washington, DC. It will be webcast live over the Internet at http://aging.senate.gov/events/

According to the Federal Trade Commission, identity theft is the fastest growing white collar crime in the United States - increasing an average nearly 40 percent per year for the past several years. The Privacy Rights Clearinghouse estimates that each year 700,000 people in the United States are victims of identity theft. Older people make appealing financial targets because they typically have higher credit lines, greater home equity and more financial resources than younger populations. Incidents of identity theft over the age of 60 increased by 218 percent in 2001 (5,802 victims) over reported figures in 2000 (1,821 victims).

The Social Security Administration indicates that organized groups of identification thieves have been found operating inside banks, credit card companies and credit bureaus, and nursing homes, stealing identifiers and financial information. KGB-trained Russian mobs, Nigerian gangs, Venezuelan rings and others have been caught operating identity takeover operations.

Victims of identity theft spend an average of $808 and 175 hours actively working to clean up their credit reports and other complications.

Hearing Witnesses

* Lieutenant Colonel (Retired) John T. Stevens, Jr. - victim of identity theft

* Alice Fisher, Associate Deputy Attorney General, U.S. Department of Justice

* Howard Beales, Director, Bureau of Consumer Protection, U.S. Federal Trade Commission

* James Huse Jr., Inspector General, Social Security Administration

* Doug Coombs, Deputy Special Agent, Financial Crimes Division, U. S Secret Service

* Mari J. Frank, Esq.,Privacy and Identity Theft Consultant

* Boris Melnikoff, Consultant to the Regional President, American Bankers Association

* Stewart Pratt, Executive Director, Consumer Data Industry Association

* Dennis Carlton, International Biometrics Group - an expert in biometrics

Contacts:

Jeff Schrade (202) 224-8710

Maria Vallejo (202)224-4839

Special Offers

Prevention

Detection

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	Identity Theft and the Elderly Jeff Schrade, a member of Senator Larry Craig's staff, sent me this press release and I thought it would be useful for site visitors: Listen to the committe hearing "Identity Theft: The Nation's Fastest Growing Crime Wave Hits Seniors" live on July 18, at 9:30 am EST. A recording of the hearing will be made available after the hearning. FOR IMMEDIATE RELEASE July 11, 2002 AGING COMMITTEE TO HOLD HEARING ON IDENTITY THEFT AND THE ELDERLY (Washington, DC) - With identity theft cases on the rise nationally, U.S. Senator Larry Craig announced today that the Special Committee on Aging will hold a hearing next week concerning identity theft and the elderly. Craig serves as the ranking member of the Committee and requested the hearing. An elderly victim, government and private sector experts will testify, and several identification technologies will be demonstrated including voice, fingerprint, and face profile recognition, and iris identification. The hearing titled "Identity Theft: The Nation's Fastest Growing Crime Wave Hits Seniors" will be held Thursday, July 18, at 9:30 a.m. in room 628 of the Dirksen Senate Office Building in Washington, DC. It will be webcast live over the Internet at http://aging.senate.gov/events/ According to the Federal Trade Commission, identity theft is the fastest growing white collar crime in the United States - increasing an average nearly 40 percent per year for the past several years. The Privacy Rights Clearinghouse estimates that each year 700,000 people in the United States are victims of identity theft. Older people make appealing financial targets because they typically have higher credit lines, greater home equity and more financial resources than younger populations. Incidents of identity theft over the age of 60 increased by 218 percent in 2001 (5,802 victims) over reported figures in 2000 (1,821 victims). The Social Security Administration indicates that organized groups of identification thieves have been found operating inside banks, credit card companies and credit bureaus, and nursing homes, stealing identifiers and financial information. KGB-trained Russian mobs, Nigerian gangs, Venezuelan rings and others have been caught operating identity takeover operations. Victims of identity theft spend an average of $808 and 175 hours actively working to clean up their credit reports and other complications. Hearing Witnesses * Lieutenant Colonel (Retired) John T. Stevens, Jr. - victim of identity theft * Alice Fisher, Associate Deputy Attorney General, U.S. Department of Justice * Howard Beales, Director, Bureau of Consumer Protection, U.S. Federal Trade Commission * James Huse Jr., Inspector General, Social Security Administration * Doug Coombs, Deputy Special Agent, Financial Crimes Division, U. S Secret Service * Mari J. Frank, Esq.,Privacy and Identity Theft Consultant * Boris Melnikoff, Consultant to the Regional President, American Bankers Association * Stewart Pratt, Executive Director, Consumer Data Industry Association * Dennis Carlton, International Biometrics Group - an expert in biometrics Contacts: Jeff Schrade (202) 224-8710 Maria Vallejo (202)224-4839	Special Offers Learn More \| Watch Video Description Protect Your Family with Family Secure by Experian® Monitors your children´s personal information, alerting you if someone applies for credit or opens an account in their name Add all of your children at no additional cost Allows you to add your spouse or another adult family member or friend at no additional cost Unlimited Experian® Credit Reports & Scores help you stay on top of your credit and protect your financial future Assistance from dedicated Fraud Resolution Representatives should you need it Learn More \| Watch Video Description Prevention Prevention Tips - Learn the simple things that will help protect your identity. Your Mailbox - Eliminate credit offers and protect your mail. Paper Shredders - Learn what to shred. Find a good shredder. Scams - Learn how to recognize "phishing" and other common scams. Credit Freeze - Is one available in your state? Fraud Alerts - Take 30 seconds today and place a fraud alert on your credit. Detection Credit Reports - Learn how to spot signs of fraud in your credit report. Credit Monitoring - Compare the cost and features of credit report monitoring services. The Fact Act Explained - Learn the best way to order your goverment-mandated free credit reports. Recovery Emergency Help - Learn what to do if you believe you are a victim of identity theft.