Wednesday, June 24, 2009

The IRS Isn't Careful?

I found this article online today:

Apparently even the IRS is not following it's own advice. Or the law for that matter.

The article links to the 29 page report from the Treasury Inspector General for Tax Administration which states that investigators

"had trouble finding anyone responsible for overseeing most of the facilities that the IRS contracted with to burn or shred sensitive taxpayer documents."
That report is available here:

Tuesday, June 23, 2009

Mortgage Fraud Surpassing Identity Theft?

Texas Attorney General Greg Abbott has a video up today on his website related to this article

CONSUMER ALERT: Smishing Scam Targets Houston-area Credit Union Accounts

The video clip is cited as "Austin - Office of the Attorney General Hosts Mortgage Fraud Summit" and in it he says that in at least one study, Mortgage Fraud has become the fastest growing White-Collar Crime in America, surpassing Identity Theft.

I would like to remind you that some companies offering Identity Theft Restoration, would consider Mortgage Fraud as a form of Identity Theft.


I noticed while searching my blog that I don't have a discreet post about shredding documents, particularly as it relates to Texans and the "Identity Theft Enforcement and Protection Act" so here is a post for this purpose.

In addition to linking to the particular law above, here is an article I've used in class regarding CVS Pharmacy and Radio Shack:

CVS joins RadioShack on Abbott's document-tossing suit docket

And here is a link to the source of this information on Texas Attorney General Greg Abbott's homepage:

Agreed judgment requires CVS Pharmacy to improve document disposal process

Thursday, June 18, 2009

Medical Identity Theft Concerns Grow

This is a good article and ties into the Anndorie Sachs story from class, note the last sentence "Dixon said, "Without aggressive safeguards, we could be building an infrastructure for massive medical fraud" (Konrad, New York Times, 6/13)."

Thursday, June 11, 2009

FTC Will Grant Three-Month Delay of Enforcement of ‘Red Flags’

FTC Will Grant Three-Month Delay of Enforcement of ‘Red Flags’ Rule Requiring Creditors and Financial Institutions to Adopt Identity Theft Prevention Programs

The Fair and Accurate Credit Transactions Act of 2003 (FACTA).... Some examples of creditors are finance companies; automobile dealers that provide or arrange financing; mortgage brokers; utility companies; telecommunications companies; non-profit and government entities that defer payment for goods or services; and businesses that provide services and bill later, including many lawyers, doctors, and other professionals.

I want to remind you that ID Theft is a serious issue. Liabilities for carelessness still exist even though the FTC is delaying enforcement of this rule. As noted in the release, entities that are covered by other agencies may not benefit from this FTC extension at all. The liabilities for you and your business still exist even though the enforcement of this particular rule has been delayed.

With all the press-releases on this topic, when the FTC does decide to enforce the rule do you think that either "I didn't know about this" or "I didn't have time" is something you want to say in your own defense?

This has been a topic that should have been on the minds of business owners and government agencies since January 1, 2008 when the Rules became effective. The November 2007 announcement is coming up on its 2 year anniversary.


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