Opher BanarieCan You Trust Personal Info to Anyone?
February 24th 2009 17:47
Who do you trust? I don't mean about politics or life - who do you trust with your personal information? Who should have access to your bank records, tax filings, retirement savings, etc.?
People will put "private" information into many different categories: What to share with family, what to share with friends, what to share with no one, and what to share with professionals in the course of conducting business. In this last group might be medical information (test results, symptoms, personal practices, etc.), legal history, criminal history and financial history.
In this age of identity theft and assorted financial crimes of all types, people tend to keep their financial history tightly controlled. You loosen the strings to send receipts to your tax preparer, to discuss options with a financial planner, when you buy a car and when you buy or re-finance a home.
What if the professional(s) you trust in the course of business have less respect for the importance and privacy of your information than you do? Years ago there was a problem with car rental agencies: Their paperwork produced a carbon copy (literally, carbon paper) of credit card imprints and signatures, which were tossed into the trash. Crafty theives sifted through the trash for these copies and used the information for fraudulent transactions. The carbon paper was replaced with no-carbon forms, and that problem was solved.
But now a story comes to light about sheer stupidity in the handling of sensitive financial information. A mortgage broker in Newport Beach, California, appears to have tossed client information into a public recycling center.
The reader comments about the story put doubt on the validity of Mr. Reeds claim that he will "..handle this myself" satisfactorily.
Police have secured the documents and they may be used as evidence of a criminal act.
The OC Register story also has photos of the overflowing bins of documents.
People will put "private" information into many different categories: What to share with family, what to share with friends, what to share with no one, and what to share with professionals in the course of conducting business. In this last group might be medical information (test results, symptoms, personal practices, etc.), legal history, criminal history and financial history.
In this age of identity theft and assorted financial crimes of all types, people tend to keep their financial history tightly controlled. You loosen the strings to send receipts to your tax preparer, to discuss options with a financial planner, when you buy a car and when you buy or re-finance a home.
What if the professional(s) you trust in the course of business have less respect for the importance and privacy of your information than you do? Years ago there was a problem with car rental agencies: Their paperwork produced a carbon copy (literally, carbon paper) of credit card imprints and signatures, which were tossed into the trash. Crafty theives sifted through the trash for these copies and used the information for fraudulent transactions. The carbon paper was replaced with no-carbon forms, and that problem was solved.
But now a story comes to light about sheer stupidity in the handling of sensitive financial information. A mortgage broker in Newport Beach, California, appears to have tossed client information into a public recycling center.
Folders with personal information for numerous clients of a local mortgage broker sat for days at a public recycling site, overflowing from the tops of several bins in an apparently glaring identity theft risk.
The files contained bank account statements, completed tax forms, credit reports and Social Security numbers, among other information, and most if not all had one broker in common – Seaview Financial of Corona del Mar.
[snip]
...Paul H. Reed said his company is relocating and that he hired a company to burn the documents. “I’ve done nothing wrong,” Reed said. “I can't be responsible for a company I hire.”
Reed said he’d used the document destruction company for 30 years; asked to provide a name or phone number, he declined. “I’m going to handle this myself,” he said.
The files contained bank account statements, completed tax forms, credit reports and Social Security numbers, among other information, and most if not all had one broker in common – Seaview Financial of Corona del Mar.
[snip]
...Paul H. Reed said his company is relocating and that he hired a company to burn the documents. “I’ve done nothing wrong,” Reed said. “I can't be responsible for a company I hire.”
Reed said he’d used the document destruction company for 30 years; asked to provide a name or phone number, he declined. “I’m going to handle this myself,” he said.
The reader comments about the story put doubt on the validity of Mr. Reeds claim that he will "..handle this myself" satisfactorily.
Police have secured the documents and they may be used as evidence of a criminal act.
The OC Register story also has photos of the overflowing bins of documents.
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