Identity Theft

Federal regulators are warning banks and other financial institutions about an expanding area of financial theft. With increasing regularity, thieves are creating identities out of thin air and running up balances on lines of credit using the phantom identities. It’s costing the financial industry billions, and presumably the costs are being passed on to customers

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As part of its 20^th annual Consumer Protection Week, the Federal Trade Commission (FTC) is arming consumers with the tools and education necessary to combat identity theft, scammers, and the like. The FTC has released this blog as a reference to access the varied tools.
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Federal prosecutors say that Mexican citizen, Andres Avelino Anduaga, extracted in excess of $350,000 in federal, state and local benefits over nearly four decades, while residing both within and outside the United States.  The investigation, which began in 2014, has resulted in a settlement between Anduaga and the federal government.

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