Monday, March 19, 2007

Got Identities?

Brian Krebs has written a few articles recently focusing on how bad identitiy theft and credit card fraud really is. There are 2 facts that I find really hard to ignore, which are also really infuriating. The first is that according to Symantec, the majority of the Credit Card trafficking is being done on servers located inside the USA. So what happened to that Patriot act? Why are these criminals allowed to continue doing this, when clearly the FBI has the power to stop it. I know the logic they are using is that they are going after the kingpins and not the small fish, which makes sense. Except that tens of thousands of US citizens are getting thier lives destroyed in the process. And even though they may take down a kingpin one day, another one pops up the next. So eitherway, US citizens are getting screwed. The second problem I have is that we are infact subsidizing our own credit cards getting stolen. The Credit Card industry on a whole acknowledges fraud as an acceptable loss and simple passes on the costs to the customer. They even go so far as to sell us identity theft protection. That is completely ridiculous. Here's a novel idea, how about you make your product secure before selling it to the American public.

Read the Story HERE

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