Wednesday, January 12, 2005

The $100.000.000 identity heist

Credit Cards

The BBC reports that Philip Cummings, a 35 year old British national has been sentenced to 14 years imprisonment for identity fraud. This for information he got as a computer helpdesk employee. An excerpt:

A Briton involved in what is believed to be the largest identity theft case ever has been sentenced to 14 years in prison by a New York judge.

Philip Cummings, 35, used his job as a computer helpdesk employee to steal personal information from more than 30,000 unwitting customers.

He passed credit card and other stolen details on to other criminals.
Losses have been estimated to be between $50m (£38m) and $100m (£76m).

Cummings, who is still free on bail, must report to prison on 9 March. He is also due to pay compensation to be agreed at a later date.

This just goes to show how many (sometimes not so honest) people you have to share your data with in todays world. I suspect this sort of thing will just get worse as we keep shipping these sorts of jobs overseas.

The less people are paid and the farther away they are from the people they could rip off, the more they are inclined to do it. This is human nature.


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