Arrests uncover tens of millions lost in identity theft scheme

High profile cases of identity theft continue to hit the mass media, illustrating just how underprepared many businesses and individuals are. Identity theft prevention begins with following proper ID verification practices, as well as going the extra mile to protect client and employee personal information. KABC-7 recently reported that the latest identity theft bust in Huntington Beach, California, exposed a ring of seven criminals who stole tens of millions of dollars. While the criminals were caught in Orange County, they had successfully stolen money from individuals through banks across the nation. According to the news provider, police found and confiscated hundreds of thousands of dollars worth of automobiles, jewelry and cash. Officials believe fraudulent Social Security numbers and credit cards were used as backup identification, which the criminals used to steal upward of $30,000 from victims in as little as one day. Businesses need to ensure they are taking all of the necessary steps to prevent this from happening to their employees, as well as their clients. A large percentage of fraudulent activity and identity theft begins within companies.