Stealing Us Blind
It’s not only crooks that are stealing us blind. In his remarks at the Gartner IT Security Summit in London; Avivah Litan, research director at Gartner, describes how US banks are so consumed with obtaining customers that they fail to perform simple credit verifications. The resulting fraud he estimates at $50B, yes a big B. Of course, it isn’t the banks that pay. It is you and me in the form of higher credit card fees and interest.
Posted: September 16th, 2005 under General.