2005-3-3
This is Gwen Outen with the VOA Special English Economics Report.
Identity theft has been a subject in the news recently. It is
considered one of the top crimes in the United States. The Federal
Trade Commission estimates that ten million Americans become victims
of identity theft each year.
Identity thieves steal personal information. They collect Social
Security numbers, banking records and telephone numbers. They use
this information to request loans or get credit cards in the name of
the victim.
Identity thieves spend a lot on goods or services without paying
for them. F.T.C. officials estimate more than fifty-two thousand
million dollars in goods and services were purchased last year
through identity theft.
Victims of identity theft can spend years attempting to
re-establish their financial history and good name. Some have been
denied jobs or arrested for crimes in which they were not involved.
Identity thieves use several methods to get what they need. They
may trick people into giving personal information over the
telephone. They also may steal documents containing such
information.
Activist groups have called for new laws to protect the public
from identity theft. Recently, a committee of the United States
Senate said it would hold hearings on the issue.
Two cases of identity theft helped the committee to call the
hearings. Last month, Bank of America said it lost computer tapes
containing personal information for more than one million federal
employees. They include some Senators and members of the Defense
Department. Bank of America says it deeply regrets the incident.
Earlier, the Los Angeles Times newspaper reported that thieves
stole about one hundred fifty thousand personal records from
ChoicePoint Incorporated. The company sells Social Security numbers
and credit information to other businesses. In two thousand two, a
similar security violation reportedly affected about seven thousand
people.
American lawmakers will consider plans to increase supervision of
companies that collect personal information. Several plans have been
proposed to help individuals whose personal information was stolen.
Another proposal would let Americans halt any investigation into
their financial history without their permission.
This VOA Special English Economics Report was written by Jill
Moss. This is Gwen Outen.