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Identity Theft May Have Hit 30,000
Aired November 25, 2002 - 14:01 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
KYRA PHILLIPS, CNN ANCHOR: Within the past hour, an important announcement out of New York City, a major bust. The crime: identity theft. The scope: about 30,000 victims.
CNN's Jason Carroll joins us now live from New York with the details of this unfolding story. Hi, Jason.
JASON CARROLL, CNN CORRESPONDENT: According to the U.S. attorneys office, with a few strokes of a keyboard, this mastermind of this plan was basically able to pick the pockets of thousands of consumer consumers who are out there.
Let me just give you some numbers here, Kyra. Three people right now are currently in custody. There are at least 30,000 victims all across the United States. Damages and losses expected to be upwards over $1 million.
According to the U.S. attorneys office, the mastermind behind this plan, a man by the name of Philip Cummings. Cummings works for a company called TCI. Now, that name is going to become very important, because TCI is a company that provides the software to other companies, such as banks, credit card companies, whatever the case may be. That gives them the software to that enables them to access the Big Three credit reporting agencies.
This man, Philip Cummings, left TCI back in March of 2000, but he still had sensitive information, such as passwords and other type of sensitive information, that still enabled him to access the Big Three credit reporting agencies.
So what he then did was he took that sensitive information, still using those passwords, and basically sold that information, and got access to identities that belonged to people who had perfect credit. He sold that information out on the street. And according to the U.S. attorney's office, simply destroyed lives.
(BEGIN VIDEO CLIP)
JAMES COMEY, U.S. ATTORNEY: Bank accounts of victims were depleted, addresses were changed on accounts. New checks were ordered, new ATM cards were ordered, new credit cards were ordered, new lines of credit were opened and quickly drained. People's credit cards were used, of course, without authorization, and people would -- criminals would assume the identity of victims to order merchandise to have shipped to different locations.
(END VIDEO CLIP) CARROLL: Kyra, according to the U.S. attorney's office, financially, thousands of lives were destroyed. Joining me right now Kevin Donovan. He is in charge of the FBI's New York field office. Mr. Donovan, I'm going to start out, let's just sort of explain for us, if you can, in any way at all, how you were able to finally track down Cummings and the other two men who were involved with this?
KEVIN DONOVAN, FBI: This is clearly where a company came to our -- brought information to our attention that we're were able to focus on the activities of these individuals. Utilizing sources and investigative techniques, we were able to identify those individuals that were engaged in stealing over 30,000 names and they were able to exploit the credit records for their advantage.
CARROLL: Absolutely incredible. The U.S. Attorney's office saying that he believed that this was the largest case of its kind in U.S. history?
DONOVAN: I think it probably could be. I mean, we're still continuing to focus on the number of victims, to focus on the losses. As we continue to conduct our investigation, we'll determine how extensive the case is at the present.
CARROLL: Obviously, there are going to be more victims who are out there. I'm wondering what should consumers come away with, after hearing about this happening? I mean, what can they do to try and protect themselves?
DONOVAN: I think consumers should be aware that corporate America works very hard at providing information to law enforcement to protect them, when information is stolen and then is used to commit criminal acts. I think the second thing that consumers need to do is to regulate, check their credit reports, at least once a year, determine if there are any unusual inquiries that are on there, unusual bank accounts or unusual credit lines that are open.
And then secondly, they need to check their mail, on a regular basis, to see if they don't get statements from their credit cards or their banks on a regular basis. They need to pick up the phone immediately and give a phone call to the bank or to the corporation that is sending them information.
CARROLL: All right. Kevin Donovan with the field office here -- FBI field office in New York. Certainly appreciate that. Thank you for your time.
DONOVAN: Thank you.
CARROLL: Again, Kyra, three people currently in custody. More arrests are expected. Unfortunately, more victims are expected to end up come forward, as well -- Kyra.
CARROLL: All right, live, from New York, Jason Carroll. Thanks so much, Jason.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired November 25, 2002 - 14:01 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
KYRA PHILLIPS, CNN ANCHOR: Within the past hour, an important announcement out of New York City, a major bust. The crime: identity theft. The scope: about 30,000 victims.
CNN's Jason Carroll joins us now live from New York with the details of this unfolding story. Hi, Jason.
JASON CARROLL, CNN CORRESPONDENT: According to the U.S. attorneys office, with a few strokes of a keyboard, this mastermind of this plan was basically able to pick the pockets of thousands of consumer consumers who are out there.
Let me just give you some numbers here, Kyra. Three people right now are currently in custody. There are at least 30,000 victims all across the United States. Damages and losses expected to be upwards over $1 million.
According to the U.S. attorneys office, the mastermind behind this plan, a man by the name of Philip Cummings. Cummings works for a company called TCI. Now, that name is going to become very important, because TCI is a company that provides the software to other companies, such as banks, credit card companies, whatever the case may be. That gives them the software to that enables them to access the Big Three credit reporting agencies.
This man, Philip Cummings, left TCI back in March of 2000, but he still had sensitive information, such as passwords and other type of sensitive information, that still enabled him to access the Big Three credit reporting agencies.
So what he then did was he took that sensitive information, still using those passwords, and basically sold that information, and got access to identities that belonged to people who had perfect credit. He sold that information out on the street. And according to the U.S. attorney's office, simply destroyed lives.
(BEGIN VIDEO CLIP)
JAMES COMEY, U.S. ATTORNEY: Bank accounts of victims were depleted, addresses were changed on accounts. New checks were ordered, new ATM cards were ordered, new credit cards were ordered, new lines of credit were opened and quickly drained. People's credit cards were used, of course, without authorization, and people would -- criminals would assume the identity of victims to order merchandise to have shipped to different locations.
(END VIDEO CLIP) CARROLL: Kyra, according to the U.S. attorney's office, financially, thousands of lives were destroyed. Joining me right now Kevin Donovan. He is in charge of the FBI's New York field office. Mr. Donovan, I'm going to start out, let's just sort of explain for us, if you can, in any way at all, how you were able to finally track down Cummings and the other two men who were involved with this?
KEVIN DONOVAN, FBI: This is clearly where a company came to our -- brought information to our attention that we're were able to focus on the activities of these individuals. Utilizing sources and investigative techniques, we were able to identify those individuals that were engaged in stealing over 30,000 names and they were able to exploit the credit records for their advantage.
CARROLL: Absolutely incredible. The U.S. Attorney's office saying that he believed that this was the largest case of its kind in U.S. history?
DONOVAN: I think it probably could be. I mean, we're still continuing to focus on the number of victims, to focus on the losses. As we continue to conduct our investigation, we'll determine how extensive the case is at the present.
CARROLL: Obviously, there are going to be more victims who are out there. I'm wondering what should consumers come away with, after hearing about this happening? I mean, what can they do to try and protect themselves?
DONOVAN: I think consumers should be aware that corporate America works very hard at providing information to law enforcement to protect them, when information is stolen and then is used to commit criminal acts. I think the second thing that consumers need to do is to regulate, check their credit reports, at least once a year, determine if there are any unusual inquiries that are on there, unusual bank accounts or unusual credit lines that are open.
And then secondly, they need to check their mail, on a regular basis, to see if they don't get statements from their credit cards or their banks on a regular basis. They need to pick up the phone immediately and give a phone call to the bank or to the corporation that is sending them information.
CARROLL: All right. Kevin Donovan with the field office here -- FBI field office in New York. Certainly appreciate that. Thank you for your time.
DONOVAN: Thank you.
CARROLL: Again, Kyra, three people currently in custody. More arrests are expected. Unfortunately, more victims are expected to end up come forward, as well -- Kyra.
CARROLL: All right, live, from New York, Jason Carroll. Thanks so much, Jason.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
