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Identity Theft News
The President's Identity Theft Task Force To Combat Identity Theft
Attorney General Alberto R. Gonzales and Federal Trade Commission Chairman Deborah Platt Majoras today announced the completion of the President’s Identity Theft Task Force strategic plan to combat identity theft.
The strategic plan is the result of an unprecedented federal effort to formulate a comprehensive and fully coordinated plan to attack this widespread and destructive crime. The plan focuses on ways to improve the effectiveness of criminal prosecutions of identity theft; enhance data protection for sensitive consumer information maintained by the public sector, private sector, and consumers; provide more comprehensive and effective guidance for consumers and the business community; and improve recovery and assistance for consumers.
“Identity theft is a crime that goes far beyond the loss of money or property,” said Attorney General Gonzales. “It is a personal invasion, done in secret, that can rob innocent men and women of their good names. The strategic plan we are releasing today is part of a comprehensive effort to fight this crime, protect consumers, and help victims put their lives back together.” Read more at sec.gov.
Definition:
Once a identity thieve has complete control over your account he/she took over your personal bank account and is fully in charge.
Default
Definition:
Defaulting on a payment means missing a payment.
Money laundering
Definition:
Once money has been illegally gained, money laundering is the process of concealing those funds in order to avoid a transaction-reporting requirement under state/federal law.
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