Business Editors

MCLEAN, Va.--(BUSINESS WIRE)--Oct. 30, 2006--Ninety-three percent of Americans are well aware of the growing crime of identity theft. Yet despite free access to credit reports and numerous educational efforts, a new survey from leading financial services company Capital One (NYSE:COF) and national advocacy group Consumer Action finds that many consumers are still unaware of the financial damage that can result from the crime and the steps to take if they fall victim. The survey also suggests that older and younger generations are particularly vulnerable.

Among the survey's key findings:

• Forty-four percent of consumers do not realize that their personal information can be used to obtain a mortgage and 32 percent do not know that thieves can obtain a drivers license or photo ID card with such information.
• Forty-one percent of older Americans (70+) do not realize that identity thieves can obtain a drivers license or ID card with their information, while 54 percent of younger Americans are unaware of this risk.
• Thirty-two percent of Americans are putting themselves at risk for identity theft simply by carrying their Social Security Cards in their wallets or purses and 45 percent of those polled incorrectly think that a new Social Security Number (SSN) should be obtained if you are a victim.

"Identity theft and fraud are crimes that we can't simply ignore. For victims, it can take a considerable amount of time and effort to clear up credit records and repair the financial damage caused by the crime," said Diana Don, director of financial education at Capital One. "There are danger signs that we look out for as a financial institution, but it's equally important that we help consumers minimize their risk by arming them with the right information."

Because of the financial harm that can result from identity theft, Capital One uses numerous security and assistance measures, such as regular account monitoring, to ensure customers' information is protected. In addition to those efforts, Capital One and Consumer Action, through their national MoneyWi$e financial literacy partnership, have developed a free, multilingual consumer guide called ID Theft/Account Fraud Prevention and Clean Up, available at www.money-wise.org.

"The MoneyWi$e guide on ID Theft/Account Fraud Prevention and Clean Up offers practical guidance on the simple steps you can take to help prevent identity theft, or, if you are a victim, to clear up the problems created by the crime and lessen its impact on your life," said Ken McEldowney, executive director of Consumer Action.

Despite educational efforts, many consumers are still uninformed about the crime.

Despite numerous educational efforts from the government, consumer groups and the financial industry, the Capital One-Consumer Action survey finds that consumers still do not realize the financial harm that can result from identity theft. For example, 15 percent do not realize that their personal information can be used to open lines of credit for products such as credit cards, while 24 percent do not know that identity thieves can use their information to apply for a job. Consumers were equally unaware of the steps they should take if they are victims of identity theft. Forty-five percent of Americans report that a new SSN should be obtained while 35 percent report that a new SSN is not necessary. The remaining 20 percent were unsure.

According to the MoneyWi$e guide on ID Theft Prevention and Clean Up, a variety of personal information can be used to commit ID theft and account fraud, including a person's name, SSN, birth date, mother's maiden name, credit report, driver's license, and credit card and bank account numbers. Although many victims of identity theft believe a new SSN will solve their problems, this is usually not possible since credit reporting bureaus may combine the records of your old and new SSN. The Capital One-Consumer Action guide suggests several core steps to help consumers' spot potential signs of ID theft and account fraud: