Data miners prey on elderly

Telemarketing fraud, once limited to small-time thieves, has becomea global criminal enterprise preying upon millions of elderly and otherpeople every year, the authorities say. Vast databases of names andpersonal information, sold to thieves by large publicly tradedcompanies, have put almost anyone within reach of fraudulenttelemarketers. And major banks have made it possible for criminals todip into victims’ accounts without their authorization, according tocourt records.

The banks and companies that sell such services often confrontevidence that they are used for fraud, according to thousands ofbanking documents, court filings and e-mail messages reviewed by TheNew York Times.

Although some companies, including Wachovia, have made refunds tovictims who have complained, neither that bank nor infoUSA stoppedworking with criminals, even after executives were warned that theywere aiding continuing crimes, according to government investigators.Instead, those companies collected millions of dollars in fees fromscam artists. (Neither company has been formally accused of wrongdoingby the authorities.)

Source/more:  International Herald-Tribune, http://www.iht.com/articles/2007/05/20/africa/fraud.php