ICFE eNEWS #14-02 - Jan 22nd 2014

TO: All ICFE CITRMS® and ICFE CCRR® certificants.
FR: Paul Richard, ICFE President
RE: Target and other retailer security breaches.

The Target and other retailer security breaches provides opportunities for ICFE CITRMS® and CCRR® certificants to assist consumers, ease their concerns about becoming a victim and help them manage their risks.

You are encouraged to click to download the MS Word version of the ICFE Press Release or copy the version below into your favorite editing tool, AND ADD YOUR NAME/PHONE NUMBER AND EMAIL ADDRESS TO THE BOTTOM.

Then, send the release to your local media outlets and ALL of your clients and prospects via email.

Here are some pricing guidelines for CITRMS® services for recipients of breach notifications:

One-hour presentation to private group = $250. (May reduce for non-profit or community groups) Includes action checklist for each individual, up to 10, additional individuals @$20

Individual CITRMS consultation for recipients of breach notifications = $50-75 (depending on how close/far to travel)

Press Release
For Immediate Release
Contact: ICFE 619-239-1401
San Diego, CA, January 18, 2014

Target Breach of Security: What consumers should do now!

A preliminary analysis of the breach of security involving the apparent theft of personal information and PIN numbers from more than 70 million customers of Target stores now appears to be expanding to other retailers and affecting over 110 million consumers, says the non-profit Institute of Consumer Financial Education (ICFE), based in San Diego, CA.

The breach now goes beyond holders of Target Stores credit cards, and beyond those customers who engaged in retail transactions with Target during the past few months. It may even affect any consumer who has submitted personally identifiable information ("PII") to the Target organization and many other retailers at any time. Despite retailer's pledge that consumers will be indemnified from any potential losses involving the card numbers stolen in the Target incident, it doesn't stop the anguish and potential losses of time required to uncover and then recover from identity theft, which can extend to all credit accounts.

One major issuer, Chase, has announced it will be sending replacement credit/debit cards to those affected consumers. The ICFE is urging those consumers who are also customers or have been customers of Target, TJ Maxx and Neiman Marcus to check their accounts daily for any suspicious activity. In addition they may want to contact their card issuer and request new debit/credit cards and PIN numbers for added peace of mind.

Identity theft is the fastest growing crime in America. Data thefts and breaches, such as the incident involving Target customers, are also increasing the number of unsuspecting consumers who are at risk. Authorities are reporting that many more retailers and online merchants may also be infected by a malware virus infecting their payment processing systems, raising the potential victims by about another 70 million cardholders.

The ICFE is the publisher and certifying authority of the Certified Identity Theft Risk Management Specialist (CITRMS®) credential. Holders of the CITRMS® including military financial counselors, now numbering in the thousands across the nation, recognize the urgent necessity for potentially affected consumers to take action to minimize the risk of adverse consequences of this breach and stand ready to help, including a complimentary data breach evaluation.

While it may be foreseeable that legal rights may have been affected, and legal remedies may be sought, ICFE's position is that it is preferable for consumers to avoid damage from such breaches, rather than relying solely upon remediation at the expense of the breached organization.

Consultation with an ICFE Certified Identity Theft Risk Management Specialist is advisable. A state by state Directory of CITRMS® individuals is provided at the ICFE web site - ICFE.org.

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For more information contact:

Paul Richard, ICFE President 619-239-1401 or: email icfe@cox.net

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Sent by:

Paul Richard
President - Executive Director
Institute of Consumer Financial Education (ICFE)

ICFE - Institute of Consumer Financial Education - ICFE.info - 619.239.1401