Wednesday, Jul 30th

Last update:04:20:51 PM GMT

Countrywide Mortgage Holders May Be Subject to Identity Theft

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Countrywide mortgage has just revealed that their customer database has been comprimised by an employee's plot to steal and sell the information.
In early August, the FBI arrested 36-year-old Rene Rebello, a former Countrywide employee in Pasadena and another man who is said to be involved in an alleged scheme to steal and sell sensitive personal information, including security numbers, of as many as two million mortgage applicants.

This alleged scheme took place during a two year period through July, which authorities are calling the largest in years.

Authorities also arrested Wahid Siddiqi, 25, at his home in Thousand Oaks. Authorities alleged that he was a reseller of Countrywide data, and is now facing fraud charges.

"Both of those individuals have been indicted and pending trial," explains Steve Dupri, of the FBI.

Authorities say that for two years, the Coutrywide employee went in to the office on Sunday nights and copied personal information onto his flash drive. He then allegedly sold it to the second suspect for an estimated $70,000...

According to the U.S. Attorney's Office, most if not all of the information was sold to people in the mortgage industry as leads; to make new pitches.

Clearly, there could be more people in trouble in this situation, when they figure out where the information ended up. But, Countrywide says they will pay for two years of a credit monitor service for the customers who's information was compromised
This is a heads up to Countrywide customers to keep a close eye on their credit reports in the coming months, as clearly authorities are not sure exactly who has access to the stolen information and for what purpose.

In these bad economic times, having a thief steal your identity is the last thing you need.

Comments  

 
0 # Guest 2008-11-21 04:59
are there any class action lawsuits against Countrywide for this problem?>
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