Feeds

Fed chairman hit by ID thieves

22 charges after hundreds are hit by pickpocket-allied fraudsters

The Essential Guide to IT Transformation

The US Federal Reserve Board chairman has become the latest high-profile public figure to fall victim to identity theft.

Ben Bernanke, whose day job leaves him in charge of the US money supply, became the victim of fraud after a pick pocket stole his wife's handbag from a Starbucks shop in Washington's Eastern Market. Credit cards, cheque books, cash and a driver's license were taken as a result.

This information was used to pass fraudulent cheques in Bernanke's name. Despite his status in the banking industry, no immediate alarm bells appear to have rung. The fraud was eventually detected and linked to a wider bank fraud racket that led to the indictment of 22 suspects earlier this week. Mail theft, pickpocketing and corrupt insiders were all allegedly used by the gang in order to build up profiles on prospective marks before establishing fraudulent lines of credit.

Bernanke, via a spokesman at the Federal Reserve, commented on the ID theft, telling CNN: "Our family was but one of 500 separate instances traced to one crime ring."

Public figures, despite their notoriety, are by no means immune to ID theft. Our favorite example in this category is an attempt by fraudsters to impersonate French president Nicolas Sarkozy. Stolen payment card details in Sarkozy's name were reportedly used to make mobile phone subscription payments. Six people, including workers at a mobile phone store, were arrested over the alleged scam in October. ®

Build a business case: developing custom apps

More from The Register

next story
14 antivirus apps found to have security problems
Vendors just don't care, says researcher, after finding basic boo-boos in security software
'Things' on the Internet-of-things have 25 vulnerabilities apiece
Leaking sprinklers, overheated thermostats and picked locks all online
iWallet: No BONKING PLEASE, we're Apple
BLE-ding iPhones, not NFC bonkers, will drive trend - marketeers
Only '3% of web servers in top corps' fully fixed after Heartbleed snafu
Just slapping a patched OpenSSL on a machine ain't going to cut it, we're told
Multipath TCP speeds up the internet so much that security breaks
Black Hat research says proposed protocol will bork network probes, flummox firewalls
How long is too long to wait for a security fix?
Synology finally patches OpenSSL bugs in Trevor's NAS
Israel's Iron Dome missile tech stolen by Chinese hackers
Corporate raiders Comment Crew fingered for attacks
Fiendishly complex password app extension ships for iOS 8
Just slip it in, won't hurt a bit, 1Password makers urge devs
Tor attack nodes RIPPED MASKS off users for 6 MONTHS
Traffic confirmation attack bared users' privates - but to whom?
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.