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IDSP Develops First-of-its-Kind Resource to Aid Businesses in the Fight Against Identity Theft

1/30/2008

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Washington, DC- January 31, 2008- A new report issued today by the Identity Theft Prevention and Identity Management Standards Panel (IDSP) helps to arm businesses, government agencies, and other organizations with the tools needed to protect themselves and their customers against the theft and misuse of personal and financial information.  Developed through a partnership of more than 70 leading organizations from the public and private sectors, the IDSP has created a single, comprehensive resource that promotes access to and implementation of tools and processes that can help to minimize the scope and scale of identity theft and fraud. 

The report is freely available as a .pdf download from the Panel’s website (www.ansi.org/idsp).

Launched in September 2006, the IDSP was established by the American National Standards Institute (ANSI) and Better Business Bureau (BBB) to identify and catalog existing standards, guidelines, and best practices related to identity theft prevention. 

Panel members considered the entire life cycle of identity management:  from the issuance of identity documents by government and commercial entities, to the acceptance and exchange of identity data, and to the ongoing maintenance and management of identity information.  Hundreds of documents – including the applicable laws, regulations, proposed legislation, white papers, and research studies and reports – are identified in the catalog. 

The report also includes recommendations for business and government agencies to:

  • enhance the security of identity issuance processes to facilitate greater interoperability between the government and commercial sectors;
  • improve the integrity of identity credentials;
  • strengthen best practices for authentication;
  • augment data security management best practices such as the use and storage of Social Security numbers;
  • create uniform guidance for organizations on data breach notification and remediation;
  • increase consumer understanding of ID theft preventative strategies, including the benefits and limitations of security freezes.

“We brought together a diverse group of identity protection experts to create a valuable and accessible resource – something that was needed but didn’t yet exist,” explained Joseph Gurreri, chairman of the IDSP, and president of CorporatePlanningGroup.NET.  “Together, we identified a broad spectrum of materials that can be used by businesses and government agencies to strengthen the way they protect the personal data for which they are responsible.” 

“The IDSP report is a much-needed approach to fight a crime that totals $49.3B and affects 8.4 million victims each year,” said James van Dyke, president and founder of Javelin Strategy & Research. “As businesses and government agencies standardize their identity-handling processes, fewer people will be victimized, more criminals will be thwarted, and the costs of identity crimes will drop.”

Key analysts, industry leaders, and members of the IDSP will lead an online discussion of the report and its findings beginning today, January 31, at 2 p.m. EST; interested parties can access the report and the webinar via the Panel’s website (www.ansi.org/idsp).

“The organizations involved in the IDSP have demonstrated their commitment to reducing a major threat to consumers and the economy,” said Gurreri.  “Now it is time for other market players to join forces with us to combat identity theft and bolster fraud prevention.”


About IDSP
The Identity Theft Prevention and Identity Management Standards Panel (IDSP) is a cross-sector initiative that works to create a single resource of standards and guidelines that businesses and other organizations can use to prevent and respond to identity theft and fraud. Jointly sponsored by the American National Standards Institute (ANSI; www.ansi.org) and the Better Business Bureau (BBB; www.bbb.org the IDSP’s nine founding partners are AT&T; ChoicePoint; Citi; Dell Inc.; Intersections, Inc.; Microsoft; Staples, Inc.; TransUnion; and Visa Inc. Founded in September 2006, the Panel leverages ANSI’s unique expertise as coordinator of the U.S. standards and conformity assessment system with BBB’s extensive experience in advancing trust in the marketplace, and includes participation from all affected marketplace stakeholders. For more information, visit www.ansi.org/idsp.

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Press Contacts
                         
 Stacy M. Leistner, American National Standards Institute, (212) 642-4931
                          Stephen A. Cox, Better Business Bureau, (703) 247-9311

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