On Wed, 8 Jun 2005 11:32:50 +0200, R.S. wrote: > >John P Baker wrote: >> At the same time, consider the costs to the individuals whose private >> financial records may have been compromised. > >What are the costs ? It was said the costs are huge, but WHAT they are ? >How much ?
Based upon locally reported (second-hand) information, probably in the range of $1,000 to $15,000 per incident. While I would hope that not all of the estimated 3.9 million names will be hit, you can safely estimate the loss of the tapes could run into the billions (thousands of millions) of dollars. >> When your neighbor becomes a victim of identify theft, what excuse will >> you offer? > >It sounds like victim of war, or nuclear catastrophe. >Will the neighbour survive ? Will be crippled or wounded ? Since the potential victims involved were financing items through CitiFinancial at the time, one might presume they don't have a lot of liquid assets to divert to salvaging their credit ratings. And what with the latest changes to bankrupcy laws impacting many of those same people, well... crippled or wounded would be about the right way of looking at their situation. (You might recall that someone from Citicorp/bank/financial was asking on this very list within the last year about tape losses, etc. You might also recall that I was rather agitated then with their apparent lack of sophistication.) -- Tom Schmidt Madison, WI ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to [EMAIL PROTECTED] with the message: GET IBM-MAIN INFO Search the archives at http://bama.ua.edu/archives/ibm-main.html
