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Identity theft: a pernicious and costly fraud

16 February 2004  |  2939 views  |  0 someone ordering from catalogue

The growing impact of identity theft on payment system participants is discussed in this paper published by the Federal Reserve Bank of Philadelphia.

The paper stems from an October 2003 ID theft workshop led by Gartner's Avivah Litan and sponsored by the Payment Cards Center of the Federal Reserve Bank of Philadelphia.
It presents a broad study of identity theft, at times compared with traditional payment fraud, and continues with an evaluation of its overall risk to consumers, merchants, and credit providers.
The paper compares the incentives each such party has to address identity theft in concert with current market response to the crime and concludes by posing several questions for further study.
Material from Litan's presentation is supplemented with additional research on the crime of identity theft.» Download the document now 330Kb - PDF

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