Reed-Elsevier Identity Breach Rises 10-Fold
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Reed-Elsevier has increased ten-fold the number of US citizens, it estimates have been affected by a security breach. The case is latest in a string of involving identity theft. The actual breach involved the Seisint unit, a data information business and one of America's largest. Initial forecasts by Reed-Elsevier said that 30,000 might have been affected. Of actual incidents, on 59 occasions criminals may have been able to gain access to personal information. Criminals had stolen ID names and passwords from Seisint customers. Armed with this information, they could obtain social security and driving licence numbers, names and addresses. Medical and financial records could not be obtained. However with the above information, it would not be difficult to steal identity and obtain financial information direct from the bank. Although, Reed-Elsevier said that no customers had actually reported any loss yet, they have implemented strengthened identity management. Measures include improved password security, free fraud insurance and and other support services. The disclosure comes, when identity theft is THE hot subject in security, and is widely quoted as the fastest growing crime in the world. The US Federal Trade Commission has estimated the cost to businesses and individuals at more than $50bn. Seisint, was bought by Reed, the worlds largest publisher for $775m last year. It forms part of Reeds risk management business, LexisNexis. It deals in collecting personal information and reselling it to business, financial services and government customers.
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