Invasion of the ID Snatchers

NCL Launches New Campaign to Educate Consumers about Top Fraud 

    WASHINGTON, DC—The National Consumers League (NCL) launched a new campaign today to help educate consumers about Identity theft. The project was made possible with an unrestricted educational grant from Bank of America. Identity theft is the number one consumer fraud, according to the Federal Trade Commission, with more than 86,000 consumers reporting some form of ID theft in 2001.

“It’s a growing concern for both consumers and businesses,” said Susan Grant NCL’s vice president of public policy. “It can happen anywhere your personal information is kept—your mailbox, wastebasket, computer, an employer’s files, the doctor’s office, even your back pocket is vulnerable to criminals who want to get your personal information and use it to their advantage.”

The new “Invasion of the ID Snatchers” Web pages present common scenarios of how thieves steal personal information and what they can do with it, tips for consumers and on how to avoid ID theft, and information on how to report the crime. It also provides tips for businesses on how to secure the personal information they collect from consumers.

            “Depending on the information they steal, ID thieves can take over your accounts, open new ones in your name, get utility service, apply for government benefits, file for bankruptcy—even get married in your name,” said Grant.

Bank of America found itself a victim of ID fraud earlier this year when consumers received an email from someone pretending to be from the bank. The email directed them to a Web site masquerading as Bank of America’s and instructed them to provide their personal financial information. Fortunately, Bank of America learned about the scam quickly and alerted law enforcement authorities, who shut down the fraudulent Web site.

“It is vitally important for consumers to understand how to properly protect their personal financial information,” says Robin Warren, privacy expert for Bank of America. “In this electronic age, it’s easy for people to pretend to be something that they are not.”

• Invasion of the ID Snatchers

• Identity Theft Fact Sheet

• Tips for consumers

• Tips for businesses

• Information about Bank of America

• Federal Trade Commission's information

The National Consumers League, founded in 1899, is America's pioneer consumer organization. Our mission is to identify, protect, represent, and advance the economic and social interests of consumers and workers. NCL is a private, nonprofit membership organization. For more information, visit www.nclnet.org.

Bank of America is one of the world's largest financial services companies, with some 4,400 domestic offices, 13,000 ATMs, 38 international offices in 190 countries, and an Internet Web site that provides online access for more than three million customers, more than any other bank. The Bank of America Foundation directs charitable giving on behalf of Bank of America. The Bank of America Foundation provides grants to nonprofit partners who use creativity and imagination to help America’s children succeed in life, neighborhoods flourish and communities prosper. For more information, visit the bank’s Web site at www.bankofamerica.com.

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