If Microsoft co-founder's ID isn't safe, is yours?

JOANN LOVIGLIO RANDY PENNELL Associated Press Published:

PHILADELPHIA (AP) -- Even the billionaire co-founder of Microsoft isn't immune to identity theft, it seems.



"Clearly, it's a reminder that anyone can be a victim of this," said David Postman, a spokesman for Allen. "It certainly is a surprise and reason for everyone to make sure that all that stuff is properly cared for and monitored."




The fraud was detected by the bank, which alerted law enforcement officials, Postman said. None of Allen's other accounts was compromised, and the only transaction that apparently made it through was the loan payment, he said.


Citibank is not talking, citing customer confidentiality rules, and Price's lawyer did not return a call Tuesday.


Nearly everyone has personal information readily available online -- more so for public figures like Allen -- that can provide answers to many basic security questions like birthdate, address, mother's maiden name, pet's name and high school name, said Nikki Junker of the Identity Theft Resource Center, a nonprofit providing victim services and consumer education about identity theft.


"As we strive for more convenience, the safety goes down," she said. "You would think being one of the richest men in the world would make you more careful about your account."


Forbes estimates Allen's net worth at $14.2 billion.

"On one hand, you can say that there's lots we can find out about the Paul Allens of the world," said Dennis Adsit, vice president of consulting services for KomBea Corp., a company that develops security technology for call centers. "On the other hand, a guy like Paul Allen can hire and pay someone to scrub his information on the Internet, to make him more bulletproof."

About 280,000 cases of identity theft were reported in 2011, according to the Federal Trade Commission's Bureau of Consumer Protection. That includes complaints through the Better Business Bureau and state attorney general offices and other law enforcement agencies.

Jeff Blyskal, senior editor at Consumer Reports, noted that banks "do have systems in place" to counter fraud.

"This is surprising that they would do this," he said of the allegations that Price simply called the bank on Jan. 9 and changed Allen's address, called again Jan. 12 identifying himself as Allen and asking for a replacement debit card, and got a debit card delivered to his own home the next day.

"They have ways to ID you when you call up," Blyskal said. "Passcodes, security questions."


One likely bonus for Allen? "If your bank gives your money away to someone else, you shouldn't have to pay for it. You're not going to be liable for it," Blyskal said.


Associated Press writer Joe Mandak in Pittsburgh contributed to this report.