Major banks, telecos top identity-theft chart

Major banks, telecos top identity-theft chart

Customers of top companies -- including Bank of America, HSBC, Sprint and AT&T -- are suffering the most identity theft, according to a survey of complaints to the U.S. Federal Trade Commission published last week.

The study, Measuring Identity Theft at Top Banks, found that the Bank of America, AT&T, Sprint and JP Morgan were associated with the largest number of identity theft complaints each month. When the data was compared to the size of the bank's existing deposits (a similar measure of size was not available for telecommunications companies), the survey found that HSBC, Bank of America and Washington Mutual were the top-three most defrauded institutions.

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The paradigm for ID theft is based on the profit the Instutions make from ID theft.

Several Institutions offer programs to prevent ID theft, and even back it with $1,000,000 insurance policy.

The profit the banks make from ID theft, is the only motivation I can find for the Paradigm.

Gerald

This is like a Bank taking your money then charging you extra to put it in a vault.

They have our data are NOT protecting it, and making a profit off its theft.

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