Data on the elderly, marketed to thieves

Just as children are vulnerable to predators on the Internet, the elderly are often targeted on-line. The difference is that children don’t have fat retirement accounts for thieves to plunder. Internet scams have been on the rise since 2003 and much of the blame can be traced to the selling of lists.

InfoUSA sells lists of names of senior citizen to fraudulent telemarketers. Banks, such as Wachovia, have allowed criminals to withdraw money from the accounts of elderly victims. And Wachovia is not the only bank involved in processing unsigned, fraudulent checks. However, other banks have been more cooperative with authorities when confronted with evidence of scams.

Just in case you were beginning to feel sorry for Wall Street bankers, read this article. It is clear from the mortgage meltdown that banks are no longer the conservative institutions they once were and it is clear that from the article banks are no longer interested in protecting the life savings of average clients. I am one hoping that this banking free-for-all will cease with the Obama administration.