Tag Archives: Personal
High-tech wallet aims to fight ID theft
A California man is making news with an invention that he says could help cut down on identity theft and credit card fraud.
According to a report on San Diego’s KGTV, Steve Cabouli has created the “iWallet,” an otherwise conventional wallet that can only be opened when its owner runs a fingerprint over a scanning device.
The television station notes that Cabouli, who was once himself a victim of identity theft, also featured technology that allows an alarm on one’s cell phone to go off, while future versions of the invention may feature a GPS-based device allowing a stolen wallet to be tracked. The station also added that about 10,000 of these wallets have been sold so far.
Technology does have a difficult time keeping up with identity thieves given the increasingly sophisticated methods they use in order to obtain consumers’ financial data. Hacking and spyware are increasingly common, although finance experts also warn that old-fashioned methods like stealing old credit bills from dumpsters and trash remain problematic as well.
When it comes to fighting fraud and identity theft, another important tactic is to regularly check one’s credit report to catch suspicious account activity.
Toyota president apologizes to U.S. officials
Akio Toyoda, the grandson of the founder of the world’s largest automaker, and Yoshimi Inaba, the company’s North American president, appeared Wednesday before the House oversight committee to offer an apology and explanation for the defects that have caused their vehicles to sometimes accelerate out of control.
Toyota President on Larry King
In words and gestures, they were nothing if not contrite. Throughout hours of testimony, Toyoda and Inaba used words such as “shameful” when describing past events, and “modestly” and “humbly” to describe how they will approach their responsibility for safety in the future.
Toyoda reminded the committee that he is in some ways the human embodiment of the car company, and that he, more than anyone, would want to repair the damage.
“All the Toyota vehicles bear my name,” Toyoda said in his opening statement. “When the cars are damaged, it is though I am, as well.”
The day didn’t start well for the automaker.
To frame the hearing, committee Chairman Edolphus Towns (D-N.Y.), recounted the deaths of California Highway Patrol officer Mark Saylor and his family, who rocketed down a San Diego road as their Lexus accelerated out of control, and whose last pleas were recorded in a 911 call.
“There is striking evidence that the company was at times more concerned with profit than with customer safety,” Towns said.
Then Transportation Secretary Ray LaHood excoriated the company for being “safety deaf” — that is, not hearing and reacting to the numerous complaints of customers. The National Highway Traffic Safety Administration has said that as many as 39 deaths may be linked to unintended acceleration in Toyotas.
But through demeanor and apology, Toyoda and Inaba seemed to defuse at least some of the anger.