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Security Businesses Privacy The Internet

Swedish Security Company Boss Declared 'Bankrupt' After Identity Stolen (bloomberg.com) 41

Posted by msmash from the awkward dept.
The man running Sweden's biggest security firm was declared bankrupt this week after his identity was hacked. Though the sub-optimal branding implications were hard to miss, Securitas AB was able to put the whole awkward incident behind it by the end of the day. From a report: Alf Goransson, the company's 59-year-old chief executive officer since 2007, won an appeal of the July 10 bankruptcy decision by the Stockholm District Court, according to a statement late Wednesday. The perpetrator used the CEO's identity to seek a loan of an undisclosed amount, after which a bankruptcy application was filed in his name. The identity theft took place in March. Goransson didn't know he'd been hacked until this week, the company said. The hack attack "has no effect on the company, other than that our CEO has been declared bankrupt," spokeswoman Gisela Lindstrand said. "And that will hopefully only last until later today, depending on how soon they can remove the decision."
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Swedish Security Company Boss Declared 'Bankrupt' After Identity Stolen More

Swedish Security Company Boss Declared 'Bankrupt' After Identity Stolen

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  • Someone at Milton Security did it!

  • Chex Systems, Equifax, Experian, Innovis and TransUnion are the main ones.

  • When I filed for Chapter Seven US bankruptcy in 2011, my attorney wouldn't file the bankruptcy application until I paid the $1,500 fee ($300 went to the court) over a six-month period. Sweden doesn't charge an application fee?

    • Re: (Score:3)

      by slew ( 2918 )

      According to this article [cnn.com]...

      Maria Hellberg, a judge at the court, said that bankruptcy applications can be made by mailing a signed declaration of insolvency. The signature doesn't have to be notarized and there is no fee to file the application.

      I suspect that this will all be changing shortly ;^)

      • I'm neutral on requiring a fee for filing, but not even requiring a notary on such an important document is asinine.

        • Well it probably haven't been misused like this before. Also notaries are not common in Sweden since we don't use our courts as often as say Americans. I would also guess that the court does not see this as a problem since it can be reversed. That you personally get lots of trouble are not their concern...

    • Re: (Score:1)

      by Anonymous Coward

      Perhaps I'm missing something obvious... If you're **bankrupt**, where do you get $1.5k to file?

      • Not the lawyer's problem, your problem. Surely, you don't expect a lawyer to wipe out his own receivable?

      • If you're **bankrupt**, where do you get $1.5k to file?

        Bankrupt doesn't mean you're completely broke. It means that you can't pay what you owe other people. I was out of work but still paying my credit card bills for two years when my unemployment benefits expired after 99 weeks and the weekend job for 20 hours per month wasn't enough to cover the bills. When I saw my attorney, she told me to stop paying my credit cards so I can pay her to file my bankruptcy application. The day after my bankruptcy got finalized, I had $25 in checking and a new full-time job.

  • I get that his identity was stolen, and the thief applied for a loan, and then declared bankruptcy in his name. What I don't get is how that led to the court actually declaring him bankrupt. The article doesn't mention details, but I would assume there are still some qualifications to be met before someone is declared bankrupt. Qualifications like actually having no money, and debt collectors knocking down your door.

    Did the court not consult with him to find out what his financial situation was like before

    • Re: (Score:1)

      by Anonymous Coward

      Did the court not consult with him to find out what his financial situation was like before just declaring him bankrupt?

      Nope

      Do they just accept people's bankruptcy claims at face value without checking?

      Yep

      Just seems like it was way too easy for this to happen and the process easy to abuse.

      Damned right. The system is absolutely fucking insane. It's all about having the process go as fast as possible, with no checks at all. Fuck, even if some of the needed documentation is missing the court will add it on it's own, so the process can go through.

    • There are only 3 qualifications: #1 That it is signed. The signature is not validated since the court doesn't have peoples signatures. The signature is so you can contest the application later, which happened here. #2 That the fee is paid. For a personal bancrupcy the fee is zero. #3 That the filing person is under the specific courts jurisdiction. All 3 where qualified. These rules sounds like this have not been misused until today, and they will most likely be changed. This all happens due to our usa

      • Re: (Score:2)

        by Megol ( 3135005 )

        I don't see how the fact that the identity number is easily guessed is relevant. It isn't intended to add any security - just being a convenient identifier.

        • Well if some one steals your identity number you will probably change your position. If I have access to your identity number and have criminal intent then there is no stop to the things that I can do in your name without you ever stopping me. If/when the police catches me you will have a breathing room until I give that identity number to some one else or I get out of jail and start to use it again.

          Everything you do in the Swedish society, either with the government, with banks or with private companies ca

      • Thanks for explaining that. Sounds like the system needs to be changed for sure. Our social security numbers here in the US are used in a similar manner, as an identifier for the purpose of keeping a credit history, but ours aren't so easy to guess. Part of the number used to be based on geographic region, but I'm not sure that's the case anymore. Also not sure if our bankruptcy filing procedures require any more scrutiny than your do.

  • Identity Theft is something made up by bankers and their ilk. That communicates that the Little Guy is the victim and they are just on the sidelines. It's just fraud as someone uses falsified data to fill out forms, etc. It's up to the them to properly verify that no fraudulent data is used. But if they introduce the concept of "identity theft", they're shifting responsibility away. The "identity" becomes something very simple and abstract, and since it's "stolen" (of course "copied" would be better, what i

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