Identity Theft Pegged cost of $ 548 million.
Lenders must spend more time developing staff training and awareness to make regarding the granting of loans and privacy laws, especially as the Americans lost at least $ 548 million to ‘identity theft and consumer fraud during the year 2004, said prosecutor David Hadlock visitors in compliance with the regulations on panel 18 Annual New England Mortgage Banking conference here last month.
Mr. Hadlock, Compliance adviser to the Massachusetts Mortgage Association, explained the Federal Trade Commission received 636000 complaints from consumers during the last year. The identity theft on a ranking of the list of complaints 247000, 15% from 2003. The fraud is that the Internet news for former victims of fraud
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