Absolute Michigan's Michigan Blog
Monday, June 12, 2006

U-M Credit Union Data Stolen: Fake Credit Cards Opened by ypsi~dixit

Y. writes: WHOA. The U-M Credit Union confirmed on Thursday that a data theft last summer that is said to have not been discovered till this past March may have resulted in thousands of Credit Union customers becoming the victims of identity theft.

According to A NetworkWorld Article, Jim Mattson, president and CEO of the Ann Arbor-based credit union, said that documents containing the personal information of about 5,000 of the credit union's 42,000 members were stolen from one of its storage rooms last summer. The documents were supposed to have been digitally imaged and then shredded. Instead, he said, they appear to have been stolen.

One person has been fired by the credit union in connection with the theft, he said. At this point it is not clear how many records were shredded and how many may have been compromised.

Read Identity Theft Information for Michigan Consumers written by Michael Cox, Attorney General. This Identity Theft Update includes important changes in Michigan and federal laws affecting consumers. One of the most significant new laws gives [consumers] the right to order a free credit report each year from each of the major credit reporting agencies. Reviewing your credit reports for phony accounts and bogus debts in your names is one of the best tools consumers have to combat ID theft.

Also read Free Annual Credit Reports-What Consumers Should Know. The Attorney General provides Consumer Alerts to inform the public of unfair, misleading, or deceptive business practices, and to provide information and guidance on other issues of concern.

PUBLIC INTEREST RESEARCH GROUP IN MICHIGAN (PIGRIM)'s Campaign to Prevent Identity Theft outlines "What You Can Do To Avoid Becoming A Victim of Identity Theft" including opting out of pre-approved credit card offers, questioning merchant handling of personal information, monitoring credit reports and billing statements, protecting against mailbox theft, all good pieces of information to have. You can also link to PIGRIM's Campaign to Prevent Identity Theft for what's new, a brief summary of the problem and the big business of information, and resources for victims.

# posted by Tami @ 10:49 AM
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