Report: There's no way to positively identify new customers
March 26 -- Banks lost at least $1 billion to identity thieves last year, according to a report issued Tuesday by TowerGroup Inc. While only an estimate, it is one of the first attempts to put a detailed price tag on what has been called the nation's fastest growing crime. What's more, the report asserts, banks have no way of telling whether new customers applying for a loan or credit card are actually who they say they are.
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Privacy Digest]
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