Theirs for the taking: sensitive credit data

[Dave Farber <dave () farber net>]

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Date: Mon, 20 Oct 2003 00:40:13 -0400
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From: Monty Solomon <monty () roscom com>
Subject: Theirs for the taking: sensitive credit data

CONSUMER BEAT

Theirs for the taking: sensitive credit data

Resale of reports depends on an honor system that goes unpoliced

By Bruce Mohl, Globe Staff,  10/19/2003

Sensitive personal financial information belonging to Massachusetts
Governor Mitt Romney recently ended up on sale online for $125,
exposing the inner workings of a credit reporting network that
operates largely on an honor system and is rarely policed. As part of
a story on the vulnerability of personal financial data, The Boston
Globe purchased Romney's TransUnion credit report -- listing his
credit card accounts, credit card numbers, credit limits, and payment
history -- from a Colorado company calling itself Goldshield Inc.

It wasn't hard to do. On its website, Goldshield asked: "What are you
looking for?" On sale were Social Security numbers ($30), unlisted
telephone numbers ($85), telephone billing information ($95), vehicle
information ($65), credit reports ($125), and credit card billing
statements ($125). Everything a thief would need to steal an identity.

All the information was sold with no questions asked. John Strange,
who identified himself as the president of Goldshield, said he could
obtain a person's credit report or a credit card billing statement
without anyone knowing about it. "I can pull miracles out of the
air," he said.

...

<http://www.boston.com/business/globe/articles/2003/10/19/theirs_for_the_taking_sensitive_credit_data/>

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