Identity Theft: Are You and Your Clients Safe?
FAE to Offer Seminar on the Growing Crime

No one is immune to identity theft. Regarded as the fastest-growing crime in this country today, more than 27 million Americans have been victims of identity theft in the past five years, according to findings released last September by the Federal Trade Commission. If you have not been directly affected by identity theft, you probably know someone who has.

Identity theft is a major concern of law enforcement agencies, financial institutions and private citizens. Unfortunately, law enforcement agencies nationwide face the grim reality that identity theft is pervasive in all jurisdictions, with crimes spreading to other counties, states and countries. Agencies that are not equipped to handle investigating identity theft are at a substantial handicap; the crime can facilitate fraud, fund terrorist activities and help fugitives elude the law.

Just as law enforcement is working to combat identity theft, financial institutions are also trying to stop the crime. Commercials from financial institutions offering identity-theft solutions are frequently aired on television and radio. One solution includes credit monitoring, a service that financial institutions have offered for years at an additional cost to consumers. Despite these efforts, the crime is difficult to prevent. Many cases of identity theft come from within financial institutions’ own organizations.

Ultimately, though, consumers may be their own best protection or their own worst enemy concerning identity theft. A professional thief only needs to get a little information from a would-be victim to commit a substantial fraud or possible identity theft. But a little extra effort and common sense on the part of consumers can go a long way in reducing the chances of becoming a victim. For example, taking the time to shred personal financial documents, a simple task, is a proven strategy in mitigating identity theft.

This summer, the Foundation for Accounting Education is sponsoring a half-day seminar on identity theft that will educate participants about the crime and will offer suggestions on how to avoid becoming a victim. The seminar is especially beneficial to CPAs who are looking for additional ways to ensure that their clients are protected from the crime. To be presented by a veteran member of law enforcement, the seminar will offer a unique perspective from someone who has been on the front lines of the battle against identity theft.

This course is offered in Albany, Buffalo, Nassau, New York City, Rochester, Syracuse and Westchester. To register, go to www.nysscpa.org/scripts/fae/index.cfm and type “identity theft.”

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