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Identity Theft
Speaker:  Ken Otsuka

December 17, 2013
11:00 a.m. - 12:00 p.m. 
Location:  Your Telephone
Cost:  $129.00 per Telephone Connection

Identity theft continues to be a serious problem for the financial services industry; however, there is good news in that the number of victims decreased 28% to 8.1 million according to the 2011 identity theft survey by Javelin Strategy and Research. Losses have also decreased from $56 billion to $37 billion. One explanation for the decrease is the drop in reported data breaches, which involve batches of consumers’ personal information being compromised. However, the information-rich financial services industry continues to be the number one target for data thieves in terms of the number of breaches and the number of compromised records. Credit unions should remain vigilant in protecting against identity theft. This session will include a discussion on the following:

 

• Identity theft and data breach statistics;

• Key red flags to look for in the new accounts and lending areas;

• Important steps to resolve red flags detected; and,

• Loss case studies