Sunday, March 6, 2005

ChoicePoint

The ChoicePoint website states:

"ChoicePoint (NYSE: CPS) Chairman and Chief Executive Officer Derek V. Smith on Friday announced that the company will discontinue the sale of information products that contain sensitive consumer data, including Social Security and driver’s license numbers, except where there is a specific consumer-driven transaction or benefit, or where the products support federal, state or local government and criminal justice purposes."

Not surprising...

It seems that the SEC and the FTC are investigating ChoicePoint (informal investigation by SEC) and ChoicePoint has stated that they will cooperate.  According to the Atl. Jrl. Const. it is alleged that some fraudulent activity may have comprised data from ChoicePoint   (See here for more). The investigation also appears to include a review of stock sales by two executives shortly after disclosure of the identity theft.  (See  Wall Street Jrl for for here).

ChoicePoint has also added a new compliance measure as the company reports that it "has created an independent office of Credentialing, Compliance and Privacy that will report to the Board of Directors’ Privacy Committee. "

(esp)

http://lawprofessors.typepad.com/whitecollarcrime_blog/2005/03/choicepoint_.html

Investigations | Permalink