Friday, August 28, 2009

Ben Bernanke Was A Victim of Identity Theft

Unfortunately one of the worst parts of the economic downturn that we are facing is the fact that some people actually turn to crime in order to get more money. One thing to watch out for is identity theft and it appears as though the head of the Federal Reserve can attest to that. According to an article in Newsweek, Ben Bernanke was a victim of the identity theft ring that was recently busted.
Last summer, just as he was dealing with the first rumblings of the financial crisis on Wall Street, Bernanke learned that a thief had swiped his wife's purse—including the couple's joint check book. Days later, someone started cashing checks on the Bernanke family bank account, the documents show. "It's fair to say he was not pleased," said one close associate of Bernanke, who asked not to be identified discussing what the Fed chairman considers a private matter.

The theft of the Bernanke check book—never publicly revealed until now—soon became part of a wide-ranging (and previously underway) identity-theft investigation by the Secret Service and the U.S. Postal Inspection Service. The probe culminated in recent months with a series of arrests, criminal complaints, and indictments brought by federal prosecutors in Alexandria, Va. The targets: members of a nationwide ring that used an inventive combination of old-fashioned thievery and high-tech fraud to loot the bank accounts of unsuspecting victims.
In case you missed that, the case was brought in Alexandria and the man that was in charge of the crime ring was actually from Waldorf, MD (which is also in the DC area). With that being said, I'm most definitely glad that the feds appear to be on top of the case but it still does serve as a reminder that anyone can become a victim of identity theft.

1 comment:

  1. Purse snatching is an obvious way for credit cards to be abused and have your identity stolen. But children get their ID's stolen all the time, and no one knows about it until they grow up. need to guard those SSN's with your life, and dont hand them out freely to schools, coaches, etc.