Industry News

Congress to probe identity theft issues

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A House of Representatives subcommittee will examine issues surrounding identity theft and assess possible solutions to e-mail phishing scams during a hearing Tuesday in Washington, D.C. Identity theft, where one individual assumes the identity of another to commit fraud, has continued to increase on the Internet in the last decade. In high-tech forms of identity theft, thieves acquire sensitive personal information about consumers by breaching computer databases or Internet sites. The Subcommittee on Financial Institutions and Consumer Credit, chaired by Rep. Spencer Bachus, R-Ala., will hold a hearing at 10 a.m. on Tuesday, July 18, in room 2128 Rayburn Building to discuss possible solutions. One of the proposals to be discussed includes limiting the public's access to domain name registrant contact information via the Whois database. Financial institutions use Whois data to prevent identity theft and account fraud particularly related to phishing, which occurs when a thief sends ...