Are You and Your Members at Risk?

The Federal Trade Commission released a survey showing that 27.3 million Americans have been victims of identity theft in the last five years, including 9.9 million people in the last year alone. According to the survey, last year’s identity theft losses to businesses and financial institutions totaled nearly $48 billion and consumer victims reported $5 billion in out-of-pocket expenses.

Resources For You and Your Members

• Identity Management at Credit Unions: An examination of current practices and future trends (447 KB/ 28 pages)  - A 2006 study, conducted by the University of Wisconsin E-Business Consortium, identifies the current state of credit union IdM through surveys, focus groups, and a case study.
• Statement stuffer brochures from FTC (Depending on availability, you may be able to order these from the FTC or print copies from a PDF file. CD-ROMs are available for the most popular brochures, which contain the artwork to have these reprinted from a commercial printer.)
• From BITS, an excellent white paper that covers financial institution responsibilities
• Privacy Rights Clearinghouse

Identity Theft Videos

• Federal Reserve Bank of Boston (13 minute video; available for $7.50)