Political Quotes

“according to the Federal Trade Commission, identity theft is the fastest growing crime in America, striking 27.3 million Americans who have been victims in the last 5 years. Not only is identity theft increasing, it is becoming more expensive. Several years ago, I received a phone call from a credit agency at my home in Springfield, IL. They said: Richard Durbin, we knew that we would finally catch up with you. I said: What are you talking about? They said: It is your credit card charges with a major chain of stores that were incurred in Denver, CO. I said: I didn't incur any credit card charges. It turned out my identity had been stolen. It took some time, and I finally got it straightened out, but I was one of the lucky ones. Today's victims of identity theft spend an average of $1,400 in out- of-pocket expenses to remedy their situation, an increase of 85 percent from years past. A recent survey indicates that identity theft cost Americans $52.6 billion in 2004--much of it accrued by businesses forced to write-off fraudulent charges. According to the Federal Trade Commission, seniors are more vulnerable to fraud than other demographic groups. In 2004, consumers over the age of 50 reported $152 million in fraud losses to the FTC, which is likely only a small fraction of the fraud that took place. A Social Security number is a key for an identity thief. With it, he or she can open a new credit card or bank account, as well as access existing accounts.…”