Oil falls to $119; Fed holds at 2%, Dow soars 330
CBS
Transcript
sliding oil prices have been the big story on wall street and investors will be watching to see if the trend continues for a third day crude prices are down to about 119 dollars a barrel nearly 30 dollars below the all-time high analysts say there's a growing impression that the sluggish economy will lead to less demand the lower prices triggered a strong rally on the stock market which was further fueled by news from the federal reserve the central bank chose to leave its key interest rate unchanged to 2 percent and it gave no hint of when a rate hike might be coming the dow jones industrial soared more than 330 points the nasdaq was up 64. just two days until the start of the summer olympics and beijing says it's taking no chances on security the government is relying on its armed forces and hopes that will keep costs down to a third of what athens paid in 2004. that bill came to nearly two billion dollars finally the batman sequel continues to claw its way into the record books the dark knight has raked in more than 400 million dollars in just 18 days the warner brothers studio says that's the fastest pace ever that's your money watch for all your business news log onto cbsnews.com in new york i'm allison harmelin
Worldwide ID Theft Busted
CBS
Transcript
the biggest identity theft case ever in this country early show consumer correspondent Susan copen has our top story good morning Susan good morning Maggie it's a little soggy out here this morning and some soggy news for places like Barnes and Noble as many as 10 stores where we shop every day had their computer systems broken into and nearly 40 million credit and debit card numbers fell into the hands of hackers it's a way of life we don't think twice about using our plastic debit and credit cards make it quick and easy to check out of retail stores like TJ Maxx and Barnes & Noble and wholesalers like BJs unfortunately these and several other stores including Marshall Sports Authority and Forever 21 were easy targets for cyber thieves who stole more than 40 million credit and debit card numbers TJX the parent company of TJ Maxx and Marshalls made the stunning admission early last year and yesterday a year and a half later the justice department announced charges against 11 people it says are responsible as far as we know this is the single largest and most complex uh identity theft case that's ever been charged in this country it was a worldwide ring that sent stolen customer information from here in the United States to computer servers in Ukraine and ltia where it was stored and sold three of the defendants are US citizens the others hail from Estonia Ukraine bellarus and China and author say it is impossible to quantify just how many millions of dollars were stolen because of this theft Maggie CBS is Susan copen thank you joining us now is CBS News Science and Technology correspondent Daniel seberg good morning Daniel good morning Magie this is so frightening because we've all shopped at these stores absolutely in this case people were a potential victim simply by using their credit or debit card like we all do and really the onus was on the businesses in this case to secure those wireless networks and why didn't they because I was shocked to find that the culprits hacked in by just finding accessible wireless networks that's fairly easy to do it is fairly easy to do especially if there's not the type of security that should be on there they really just doing what's called a drive by hacking looking for these vulnerable networks do you think that we will see that change it shouldn't be that easy it really shouldn't be that easy I mean these companies really do need to make these networks secure and of course consumers have to do what they can to be proactive too what can we do well there are a few things first of all you really need to get a your annual credit report at least once a year it is free you can check your credit card statement and bank statement every day if you want to online it's very easy to do and look for those really strange charges too and you say not only necessarily look for large charges these guys are clever they'll charge $5 here they want to stay under the radar at times so they're not going to charge necessarily $5,000 or $110,000 but little amounts maybe $10 or $50 but over a broad scale they've got millions of credit card numbers to do this with any other tips that you can give us on a day-to-day basis yeah I mean little things like shredding your documents now that wouldn't have helped in this case but absolutely shred everything you've got to try and minimize the potential for someone finding your information also you can set up a fraud alert on your credit card in some cases it's only for 90 days in the beginning now that means that any creditor in the future would have to tell you that something's being opened in your name so it could delay things a little bit but if you've been a victim of identity theft you can do it for seven years and that's really worth having sounds like it is thank you Daniel appreciate your time