FTC targets identity theft; Consumers will benefit from clearinghouse, toll-free number.

0 Comments | M2 Presswire, February, 2000

M2 PRESSWIRE-18 February 2000-US FTC: FTC targets identity theft; Consumers will benefit from clearinghouse, toll-free number (C)1994-2000 M2 COMMUNICATIONS LTD RDATE:17022000 The Federal Trade Commission has launched a three-part initiative to help consumers combat identity theft. Identity theft occurs when con artists hijack a consumer's personal identifying information -- name, address, credit card or Social Security number -- and use the data to open new charge accounts, order merchandise, or borrow money.

Consumers targeted by identity thieves usually do not know that they have been victims until the hijackers fail to pay the bills or repay the loans, and collection agencies begin dunning the consumers for payment of accounts they didn't even...