FDIC to release ID theft guidance for banks
WASHINGTON, DC -- The Federal Insurance Corporation (FDIC) is to formulate guidelines for banks to use in the fight against account hijacking, the fastest growing form of identity theft in the country, according to a report by the depository insurance agency.
With its report, Putting an end to account-hijacking identity theft, the FDIC also requested public comment on the study that it hopes to use to formulate the guidance. Account hijacking is unauthorised access to and misuse of existing asset accounts primarily through phishing and hacking.
The study estimates that almost two million US adult internet users experienced this fraud during the 12 months ending April 2004. Of those, 70% do their banking or pay their bills online, and over half
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