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Unpublished Paper
Measuring Identity Theft at Top Banks (Version 1.0)
Law and Technology Scholarship (Selected by the Berkeley Center for Law & Technology) (2008)
  • Chris Hoofnagle
Abstract

There is no reliable way for consumers, regulators, and businesses to assess the relative incidence of identity fraud at major financial institutions. This lack of information prevents more vigorous competition among institutions to protect accountholders from identity theft. As part of a multiple strategy approach to obtaining more actionable data on identity theft, the Freedom of Information Act was used to obtain complaint data submitted by victims in 2006 to the Federal Trade Commission. This complaint data identifies the institution where impostors established fraudulent accounts or affected existing accounts in the name of the victim. The data show that some institutions have a far greater incidence of identity theft than others. The data further show that the major telecommunications companies had numerous identity theft events, but a metric is lacking to compare this industry with the financial institutions.

Keywords
  • identity theft,
  • financial services,
  • banks,
  • consumer protection,
  • privacy,
  • security
Disciplines
Publication Date
February 26, 2008
Citation Information
Chris Hoofnagle. "Measuring Identity Theft at Top Banks (Version 1.0)" Law and Technology Scholarship (Selected by the Berkeley Center for Law & Technology) (2008)
Available at: http://works.bepress.com/chris_hoofnagle/2/