The Latest Identity Theft Victim - Chairman of The Federal Reserve

Federal Reserve Board Chairman Ben Bernanke was one of hundreds of victims of an identity fraud ring that stole over 2.1 million dollars from individuals and financial institutions, Newsweek magazine reported on Wednesday.

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If it can happen to him, it can, and does, happen to anyone!

Not a situation of hacking, but a simple "human" team! We need people to wake up to the fact that this crime is occurring all around us. It is imperative for organizations of all kinds both for profit and non-profit,  to implement prevention programs that include employee training and awareness raising, to help deter these types of insider threats .

Many companies still aren't even aware of these requirements, and many that are aware of the legislation don't believe they should be concerned. However, they all need to stop and realize "we really could suffer a security breach" and it doesn't have to be a theft involving technology it can be employees from within your own organization.

My plea to all of the organizations that are crying out for exemption from the Red Flags Rule provisions as well as other legislation is, "please, realize the impact of this crime, and the need to implement reasonable policies and procedures inclusive of employee education." Will this eradicate the crime? NO, but it sure will help begin to diminish it.