DigitalIDNews | Investcorp obtains equity stake in CSIdentity to combat identity theft

Thursday, January 14, 2010

Investcorp Technology Partners has agreed to purchase an equity stake in CSIdentity, an identity theft and fraud protection service based out of Austin, Texas. Ivestcorp’s Fund III has invested $35 million in the company which services the U.S. with identity and theft software solutions and datasets.

With identity theft a fast growing crime, the market for CSIdentity is predicted to grow over 20% per year servicing everyone from multi-billion dollar corporations and government agencies to small businesses and consumers across every U.S. state.

CSIdentity targets all contributing factors of identity theft. Services include identity validation, complete background screenings, voice biometric identity verification and data breach management.

CSIdentity’s solutions are used by Fortune 100 financial institutions, public pension funds, telecommunications companies as well as more than 2 million U.S. citizens.

Ohio State uses RFID to combat bike theft

As part of the university’s Student Affairs Risk Assessment efforts, Ohio State University is using RFID technology to combat bike theft.

Coined “Bug Your Bike,” the program gives students the option to obtain a free RFID tag which can be placed on their bikes to prevent theft. Police can then use this technology to positively identify stolen bicycles and to return the property to their rightful owners.

VASCO advises schools to secure their online platforms

More schools are now using online platforms to distribute and exchange information, such as course documents and online tests. These same online platforms also serve as an administrative tool, containing personal data on students and staff. To prevent identity and data theft, online applications used by schools and universities need to be protected.

ID theft prevalent among young adults

It takes young adults–those between the ages of 18 and 24–some 132 days before they realize they’ve had their identity stolen. In that time, they’ve lost five times the amount of money compared to other age groups, according to Washington State University’s student newspaper.

ClearCount Medical Solutions obtains new financing

ClearCount Medical Solutions, a Pittsburgh-based provider of patient safety products for the operating room, has closed its $5 million series B financing round.

The company intends to use the funds to further research and development of its RFID-based solutions for operating rooms. ClearCount has already developed the first FDA-cleared sponge counting and detection solution.

UConn breach results in theft of private information

An UConn computer with the names and Social Security Numbers of more than 10,000 university applicants was stolen, according to a local news report.

The computer, stolen from an IT storage cabinet at university’s West Hartford campus, had applicant files ranging from 2004 through July 30. UConn officials are still investigating the theft, which was discovered on Aug. 3.

OASIS forms team to address idenitity in the cloud

The OASIS standards consortium has formed a new committee to look at security in the cloud. OASIS Identity in the Cloud (IDCloud) Technical Committee was formed to address the growing difficulties the cloud computing systems are facing in terms of secure identity management.

Subscribe

Print Magazine

Featured Events

Links

Searching …

Investcorp obtains equity stake in CSIdentity to combat identity theft