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Article: Flaws found in identity protection.(UPDATE)
- Article from:
- Internal Auditor
- Article date:
- August 1, 2005
- Author:
CopyrightCOPYRIGHT 2005 Institute of Internal Auditors, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DISCOVER CARD, FIRST National Bank of Omaha, Citibank, Bank of America, and American Express topped the list of credit card issuers with the best protections against identity fraud, according to Javelin Strategy & Research, a financial services industry research firm in Pleasanton, Calif. The Identity Fraud Safety Scorecard for Credit Card Issuers, released by Javelin in June, follows a wave of corporate disclosures of security incidents involving consumer information at companies such as CardSystems Solutions Inc., Choice-Point, and LexisNexis. Javelin reports that losses from identity fraud total US $52.6 billion and affect 9.3 million people each year.
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