Jul
31
Recent Identity Theft Statistics
Filed Under Finance | Leave a Comment
Keith Londrie asked:
Identity theft (ID theft or identity fraud) is the deliberate appropriation of an individual’s personal information to impersonate that person in a legal sense. Stealing someone’s identity enables the thief to make a frightening number of financial and personal transactions in someone else’s name, leaving the victim responsible for what might turn out to be a mind-boggling turmoil in his or her life. The Federal Trade Commission (FTC) keeps records on identity theft, and, not surprisingly, the number of incidents reported increase each year. The recent identity theft statistics reveal that ID theft affects as many as ten million Americans each year! According to FTC’s identity theft statistics, the losses to businesses and financial institutions total nearly 53 billion dollars annually.
These identity theft statistics further reveal that the most common types of ID thefts are credit card frauds, communications services fraud (such as opening a cell phone or a utility services account using someone else’s information), bank fraud and loan fraud. For years, the primary cause of identity theft has been good old-fashioned or low-tech analog crime. Impersonators rummaging though mailboxes, snatching purses or searching the garbage for discarded bank statements or credit card receipts. Rapid advances in technology have seen a plague of sophisticated phishing attacks. Identity theft statistics expose phishing as the most dangerous of all ID thefts that uses both social engineering and technical subterfuge.
Phishing can have serious financial consequences. In a phishing attack, the victim is sent an email that “appears” to be from a bank or other financial institution. The victim is then told to click a link and verify his/her account information or supply personal identity data. The link appears to be a legitimate site, but is in fact a scam. The moment he/she enters sensitive data, the identity thief gains access to account information and can empty the bank account. Phishers can also take out credit cards in the victim’s name, steal ISP account information and do other financial damage. In its latest report on identity theft statistics, the research group Gartner says that close to 60 million Americans reported receiving a phishing email, and 1.7 million people have been victims of identity theft, which cost banks and credit card companies $1.2 billion in losses.
You must take steps to protect your account information, social security numbers, passwords, etc. Now. Always memorize and shred important documents that you are discarding. Don’t simply throw these types of documents away!
Melanie
Identity theft (ID theft or identity fraud) is the deliberate appropriation of an individual’s personal information to impersonate that person in a legal sense. Stealing someone’s identity enables the thief to make a frightening number of financial and personal transactions in someone else’s name, leaving the victim responsible for what might turn out to be a mind-boggling turmoil in his or her life. The Federal Trade Commission (FTC) keeps records on identity theft, and, not surprisingly, the number of incidents reported increase each year. The recent identity theft statistics reveal that ID theft affects as many as ten million Americans each year! According to FTC’s identity theft statistics, the losses to businesses and financial institutions total nearly 53 billion dollars annually.
These identity theft statistics further reveal that the most common types of ID thefts are credit card frauds, communications services fraud (such as opening a cell phone or a utility services account using someone else’s information), bank fraud and loan fraud. For years, the primary cause of identity theft has been good old-fashioned or low-tech analog crime. Impersonators rummaging though mailboxes, snatching purses or searching the garbage for discarded bank statements or credit card receipts. Rapid advances in technology have seen a plague of sophisticated phishing attacks. Identity theft statistics expose phishing as the most dangerous of all ID thefts that uses both social engineering and technical subterfuge.
Phishing can have serious financial consequences. In a phishing attack, the victim is sent an email that “appears” to be from a bank or other financial institution. The victim is then told to click a link and verify his/her account information or supply personal identity data. The link appears to be a legitimate site, but is in fact a scam. The moment he/she enters sensitive data, the identity thief gains access to account information and can empty the bank account. Phishers can also take out credit cards in the victim’s name, steal ISP account information and do other financial damage. In its latest report on identity theft statistics, the research group Gartner says that close to 60 million Americans reported receiving a phishing email, and 1.7 million people have been victims of identity theft, which cost banks and credit card companies $1.2 billion in losses.
You must take steps to protect your account information, social security numbers, passwords, etc. Now. Always memorize and shred important documents that you are discarding. Don’t simply throw these types of documents away!
Melanie
Jul
30
Tony Francis asked:
Monitoring your very own accounts can be tedious for most busy individuals, aside, of course, from the fact that your access to your records is very limited. This is why, sometimes, conducting an identity theft check on your own is not enough, as some may not be brought into your attention.
This is why Equifax has devised a couple of different products that can help you protect yourself from being a victim of identity theft. Here is a list of their different packages available:
1. Equifax ID Patrol. This service offers the monitoring of all three of your credit reports; alerting you of significant changes and activities on any of the accounts; monitoring of your personal information on the web, alerting you whenever someone tries to use your identity for some shady transaction; access to identity theft resolution specialists; and a million dollar insurance if their product fails to deliver their promises. Another additional benefit from this product: the ability to lock and unlock your credit reports whenever you want, giving you control on who gets to access your information.
2. Equifax Credit Watch Gold. A couple of bucks cheaper than the ID Patrol, the Credit Watch Gold offers you daily monitoring of your credit report from the company; unlimited access to your very own Equifax credit reports; access to its customer support department, any time, any day; and up to $250,000 insurance if their product fails to deliver.
3. Equifax Credit Watch Gold Family Program. This product has the same features just like the Equifax Credit Watch Gold’s , but with the additional of letting you send it to your family members and have them register their own information, allowing them to be identity theft protected like you.
4. Equifax Credit Watch Gold with 3-in-1 Monitoring Family Program. This product will monitor all of your three credit reports and alert you if a suspicious activity is happening on your account, and offers up to a million dollars of insurance if the product fails. Also, this product lets you to share your very own identity theft protection service to your family members in the fight against the destructive crime.
The family programs must be noted, though, that you need to do a couple of steps before you can include your loved ones in your purchasing of the product. Step one would be to click the button that will then require you to enter your family members’ contact information so Equifax can send them the product certificates of whatever package you’ve paid for. Once the messages are sent, their information can already be protected by the product as well.
5. Equifax Credit Report Control. Apart from protecting you from credit identity theft, this product, with its benefits that will allow you to lock your records away from the access of others, can also help you guarantee approved loans and credit cards.
So, if you are really serious on your fight against credit identity theft, take your identity theft check a notch higher, and consider getting any of the products that can prevent your identity from being stolen.
Sean
Monitoring your very own accounts can be tedious for most busy individuals, aside, of course, from the fact that your access to your records is very limited. This is why, sometimes, conducting an identity theft check on your own is not enough, as some may not be brought into your attention.
This is why Equifax has devised a couple of different products that can help you protect yourself from being a victim of identity theft. Here is a list of their different packages available:
1. Equifax ID Patrol. This service offers the monitoring of all three of your credit reports; alerting you of significant changes and activities on any of the accounts; monitoring of your personal information on the web, alerting you whenever someone tries to use your identity for some shady transaction; access to identity theft resolution specialists; and a million dollar insurance if their product fails to deliver their promises. Another additional benefit from this product: the ability to lock and unlock your credit reports whenever you want, giving you control on who gets to access your information.
2. Equifax Credit Watch Gold. A couple of bucks cheaper than the ID Patrol, the Credit Watch Gold offers you daily monitoring of your credit report from the company; unlimited access to your very own Equifax credit reports; access to its customer support department, any time, any day; and up to $250,000 insurance if their product fails to deliver.
3. Equifax Credit Watch Gold Family Program. This product has the same features just like the Equifax Credit Watch Gold’s , but with the additional of letting you send it to your family members and have them register their own information, allowing them to be identity theft protected like you.
4. Equifax Credit Watch Gold with 3-in-1 Monitoring Family Program. This product will monitor all of your three credit reports and alert you if a suspicious activity is happening on your account, and offers up to a million dollars of insurance if the product fails. Also, this product lets you to share your very own identity theft protection service to your family members in the fight against the destructive crime.
The family programs must be noted, though, that you need to do a couple of steps before you can include your loved ones in your purchasing of the product. Step one would be to click the button that will then require you to enter your family members’ contact information so Equifax can send them the product certificates of whatever package you’ve paid for. Once the messages are sent, their information can already be protected by the product as well.
5. Equifax Credit Report Control. Apart from protecting you from credit identity theft, this product, with its benefits that will allow you to lock your records away from the access of others, can also help you guarantee approved loans and credit cards.
So, if you are really serious on your fight against credit identity theft, take your identity theft check a notch higher, and consider getting any of the products that can prevent your identity from being stolen.
Sean
Jul
28
Matthew Stanton asked:
Your identity is probably the most important physical aspect that you have. In business transactions, in making loans, in school and work requirements and even in just proving that you exist, your identity becomes a very significant factor in your life, if not the most. It marks your existence and protects the material or immaterial things that you claim as your own.
Now imagine someone else being able to control the very things you worked hard for. What could be crueler than that?
Identity theft is a reality nowadays. More and more people become victims of this crime, which involves stealing financial and other gains by impersonating someone else. Stolen identities can also be used by criminals to conceal themselves from government authorities or to make transactions that they could not have obtained otherwise.
This theft, although a sad and frustrating one, is a reality nonetheless. Therefore we cannot just act hastily, especially when it comes to disclosing personal information. We need not just be naive and hope we would not be the next victims, for the truth is, we could be. Here are some tips on precautionary measures that we should keep in mind:
Hasty Information Disclosure Is A No-No
It is not advisable to disclose any kind of personal information to another person whether via telephone, email or personal conversation when one does not know the other person well. In this world, it has become a fact that we could not trust anybody very easily. This is not a point on cynicism; merely a precautionary measure on any kind of manipulation. When you are not too sure about a persons background (especially if exchanges are made only via email or phone), you should be careful not to reveal any personal information that may be used to pull off an impersonation of you.
Completely Destroy Any Personal Record You Wish To Throw
Criminals can easily obtain any personal information written on or stored in a piece of paper or computer. When you want to throw away these kinds of things, make sure that it is completely destroyed as to not be of any use when obtained. For documents, one could burn them and for computers, one could make sure that everything is deleted from the hard drive.
Look Out For Bogus Offers
Criminals usually advertise offers, especially job offers, in order to entice people to apply and thus be compelled to hand in personal information like your full name, address, contact number and other details. You should look out for this. You could make sure that the job offer and the company offering the job is legitimate by researching about it or calling for information on it. Granted, you may badly need a job, but it would not take too much time and it certainly would not hurt to make sure you are not being manipulated. After all, the problems you would encounter would be greater if you became a victim of identity theft.
It is good to embrace life with every ounce of optimism, but as crimes grow nowadays, can never be too cautious. When something of great importance is at risk, like the possibility of being cheated off an identity, one should always take every measure possible to make sure this does not happen to you.
Jack
Your identity is probably the most important physical aspect that you have. In business transactions, in making loans, in school and work requirements and even in just proving that you exist, your identity becomes a very significant factor in your life, if not the most. It marks your existence and protects the material or immaterial things that you claim as your own.
Now imagine someone else being able to control the very things you worked hard for. What could be crueler than that?
Identity theft is a reality nowadays. More and more people become victims of this crime, which involves stealing financial and other gains by impersonating someone else. Stolen identities can also be used by criminals to conceal themselves from government authorities or to make transactions that they could not have obtained otherwise.
This theft, although a sad and frustrating one, is a reality nonetheless. Therefore we cannot just act hastily, especially when it comes to disclosing personal information. We need not just be naive and hope we would not be the next victims, for the truth is, we could be. Here are some tips on precautionary measures that we should keep in mind:
Hasty Information Disclosure Is A No-No
It is not advisable to disclose any kind of personal information to another person whether via telephone, email or personal conversation when one does not know the other person well. In this world, it has become a fact that we could not trust anybody very easily. This is not a point on cynicism; merely a precautionary measure on any kind of manipulation. When you are not too sure about a persons background (especially if exchanges are made only via email or phone), you should be careful not to reveal any personal information that may be used to pull off an impersonation of you.
Completely Destroy Any Personal Record You Wish To Throw
Criminals can easily obtain any personal information written on or stored in a piece of paper or computer. When you want to throw away these kinds of things, make sure that it is completely destroyed as to not be of any use when obtained. For documents, one could burn them and for computers, one could make sure that everything is deleted from the hard drive.
Look Out For Bogus Offers
Criminals usually advertise offers, especially job offers, in order to entice people to apply and thus be compelled to hand in personal information like your full name, address, contact number and other details. You should look out for this. You could make sure that the job offer and the company offering the job is legitimate by researching about it or calling for information on it. Granted, you may badly need a job, but it would not take too much time and it certainly would not hurt to make sure you are not being manipulated. After all, the problems you would encounter would be greater if you became a victim of identity theft.
It is good to embrace life with every ounce of optimism, but as crimes grow nowadays, can never be too cautious. When something of great importance is at risk, like the possibility of being cheated off an identity, one should always take every measure possible to make sure this does not happen to you.
Jack
Jul
24
What you Can Do to Prevent Identity Theft
Filed Under Law | Leave a Comment
Jon Arnold asked:
A one hundred percent foolproof method of preventing identity theft does not exist and probably never will. But you absolutely need to take some safeguards that if nothing else, will not make you an easy target to becoming a victim of identity theft. ID theft is not pleasant, and if it occurs to you, you will end up spending countless hours of time for months to get it corrected, possibly also including some respectable legal fees, not to mention the damage to your reputation and credit report, so while the safeguards may be inconvenient, they are well worth your time to implement.
Many people would think that some sort of email or computer-based solution is the best place to start, but in reality, a large percentage of identity theft is accomplished with nothing more than a watchful eye and some sticky fingers. Identity theft has become an all too common problem in the last couple of years, and is said by multiple studies to be one of the fastest growing crimes of this decade.
Be fully aware that identity theft is not limited to your Internet or surfing activities. In fact, studies have shown that people who routinely use services like online banking and online bill paying services (from reputable sites) are actually found to be LESS likely targets for this, since people who use such services are more careful with their personal identification information than Joe Average.
Basically what happens is simply that someone gets some of your personal information, enough so that they can open accounts, get credit cards or loans, and open those accounts in your name, obviously without your knowledge of it. Think about it, what information is required to open a department store credit card or apply for a Visa or Mastercard? Name, address, phone number, social security number or drivers license number. With people moving around today, with other information intact, many credit issuers will not have a problem with a new account application showing a different address and different phone number than what the credit bureau reports. This is especially true because it is well known that credit bureau information is not very accurate, and in fact, the majority of consumers have ERRORS in their credit reports.
So you only find out that you have become a victim of identity theft because some creditor that you have never heard of is calling you at work to ask when you intend to start making payments on your account. What a rude surprise!
The moral of the story is to be extremely careful with your personal information. This is particularly true of government issued identification numbers such as your driver’s license number and your social security number. How frequently do you get offers in the mail about being pre-approved for a new credit card? If you are like most people, you probably get several of these every month. What do you do with them? Do you simply throw them in the trash, perhaps ripping them in half first? Most people do exactly that, but the information is still very readily available to anyone who has the inclination to go through people’s trash looking for exactly this type of information. You will probably never get away from the junk mail, but for under $50, you can get a paper shredder at virtually any office supply store, and then put those offers through that shredder.
Anything you can do to safeguard your personal information makes it far less likely that you will become a target for identity theft. When you think of the small investment in a shredder and the bit of extra time to ensure that you properly dispose of such information, compared against the MONTHS of personal time required to straighten out a mess if you are a victim, the tradeoff is more than worth it.
Mitchell
A one hundred percent foolproof method of preventing identity theft does not exist and probably never will. But you absolutely need to take some safeguards that if nothing else, will not make you an easy target to becoming a victim of identity theft. ID theft is not pleasant, and if it occurs to you, you will end up spending countless hours of time for months to get it corrected, possibly also including some respectable legal fees, not to mention the damage to your reputation and credit report, so while the safeguards may be inconvenient, they are well worth your time to implement.
Many people would think that some sort of email or computer-based solution is the best place to start, but in reality, a large percentage of identity theft is accomplished with nothing more than a watchful eye and some sticky fingers. Identity theft has become an all too common problem in the last couple of years, and is said by multiple studies to be one of the fastest growing crimes of this decade.
Be fully aware that identity theft is not limited to your Internet or surfing activities. In fact, studies have shown that people who routinely use services like online banking and online bill paying services (from reputable sites) are actually found to be LESS likely targets for this, since people who use such services are more careful with their personal identification information than Joe Average.
Basically what happens is simply that someone gets some of your personal information, enough so that they can open accounts, get credit cards or loans, and open those accounts in your name, obviously without your knowledge of it. Think about it, what information is required to open a department store credit card or apply for a Visa or Mastercard? Name, address, phone number, social security number or drivers license number. With people moving around today, with other information intact, many credit issuers will not have a problem with a new account application showing a different address and different phone number than what the credit bureau reports. This is especially true because it is well known that credit bureau information is not very accurate, and in fact, the majority of consumers have ERRORS in their credit reports.
So you only find out that you have become a victim of identity theft because some creditor that you have never heard of is calling you at work to ask when you intend to start making payments on your account. What a rude surprise!
The moral of the story is to be extremely careful with your personal information. This is particularly true of government issued identification numbers such as your driver’s license number and your social security number. How frequently do you get offers in the mail about being pre-approved for a new credit card? If you are like most people, you probably get several of these every month. What do you do with them? Do you simply throw them in the trash, perhaps ripping them in half first? Most people do exactly that, but the information is still very readily available to anyone who has the inclination to go through people’s trash looking for exactly this type of information. You will probably never get away from the junk mail, but for under $50, you can get a paper shredder at virtually any office supply store, and then put those offers through that shredder.
Anything you can do to safeguard your personal information makes it far less likely that you will become a target for identity theft. When you think of the small investment in a shredder and the bit of extra time to ensure that you properly dispose of such information, compared against the MONTHS of personal time required to straighten out a mess if you are a victim, the tradeoff is more than worth it.
Mitchell
Jul
16
Vijayanand asked:
Mike was like millions of Americans. He worked hard, was cautious with his spending and even paid off his credit card each month. He thought he was doing everything right. Then, something unexpected happened. He started getting calls from collection agencies. They were collecting on credit cards and other lines of credit Mike never opened. Mike had been the victim of ID theft.
Things went down hill fast for Mike’s credit. He quickly realized that there were several credit cards opened in his name fraudulently, and each one had overdue balances of thousands of dollars. Those balances had been festering on Mike’s credit report for months without his knowledge causing Mike’s credit rating to plummet to an abysmal 530.
This low credit rating affected Mike in numerous ways. He needed a new car, but was unable to get approval for a car loan. His oldest son was heading to college, but the school loans Mike applied for were rejected. Even Mike’s insurance premiums went up as a result of his low credit score. Mike knew he needed to do something fast.
Mike quickly discovered that the task of restoring his credit and good name was not as simple as he thought it would be. He would have to contact all of the credit agencies, place fraud alerts on his credit and investigate where else his identity had been compromised among other things. Where was Mike going to find the time to do all of these things? He worked full time and had a family to think about. Mike felt like he was caught in an impossible situation. In the end, it took Mike hundreds of hours to restore his credit rating and correct the errors on his credit report.
Once his credit was back to normal, Mike was determined never to allow such a thing to happen to him again. Mike had a friend who had gone through a similar experience just a year before. He recommended ID TheftSmart to Mike. ID TheftSmart is an Identity Theft Prevention and restoration service offered by Comodo, an innovative identity and trust assurance company. If Mike had already had ID TheftSmart program when he was victimized, his pre-theft credit status would have been restored without having to sacrifice hundreds of hours of his time.
To Mike’s surprise, he found that the licensed investigators at Comodo were prepared to do the lion’s share of the work to restore their client’s damaged credit. They work with the credit agencies to correct the issues on a credit report, place fraud alerts and investigate other issues related to ID Theft like criminal records, fraudulent check activity and other fraudulent uses of a social security number. Some of these issues Mike had not even considered when working to restore his damaged credit.
Mike decided to use the ID TheftSmart program to protect himself from future assaults on his credit, and you can do the same. The ID TheftSmart program monitors your credit on an ongoing basis so that you don’t have to go through the same ordeal Mike did. ID TheftSmart will alert you whenever someone tries to open a line of credit in your name. If your credit is compromised, the Identity Fraud Restoration services do most of the work to resolve your identity theft issues.
Stanley
Mike was like millions of Americans. He worked hard, was cautious with his spending and even paid off his credit card each month. He thought he was doing everything right. Then, something unexpected happened. He started getting calls from collection agencies. They were collecting on credit cards and other lines of credit Mike never opened. Mike had been the victim of ID theft.
Things went down hill fast for Mike’s credit. He quickly realized that there were several credit cards opened in his name fraudulently, and each one had overdue balances of thousands of dollars. Those balances had been festering on Mike’s credit report for months without his knowledge causing Mike’s credit rating to plummet to an abysmal 530.
This low credit rating affected Mike in numerous ways. He needed a new car, but was unable to get approval for a car loan. His oldest son was heading to college, but the school loans Mike applied for were rejected. Even Mike’s insurance premiums went up as a result of his low credit score. Mike knew he needed to do something fast.
Mike quickly discovered that the task of restoring his credit and good name was not as simple as he thought it would be. He would have to contact all of the credit agencies, place fraud alerts on his credit and investigate where else his identity had been compromised among other things. Where was Mike going to find the time to do all of these things? He worked full time and had a family to think about. Mike felt like he was caught in an impossible situation. In the end, it took Mike hundreds of hours to restore his credit rating and correct the errors on his credit report.
Once his credit was back to normal, Mike was determined never to allow such a thing to happen to him again. Mike had a friend who had gone through a similar experience just a year before. He recommended ID TheftSmart to Mike. ID TheftSmart is an Identity Theft Prevention and restoration service offered by Comodo, an innovative identity and trust assurance company. If Mike had already had ID TheftSmart program when he was victimized, his pre-theft credit status would have been restored without having to sacrifice hundreds of hours of his time.
To Mike’s surprise, he found that the licensed investigators at Comodo were prepared to do the lion’s share of the work to restore their client’s damaged credit. They work with the credit agencies to correct the issues on a credit report, place fraud alerts and investigate other issues related to ID Theft like criminal records, fraudulent check activity and other fraudulent uses of a social security number. Some of these issues Mike had not even considered when working to restore his damaged credit.
Mike decided to use the ID TheftSmart program to protect himself from future assaults on his credit, and you can do the same. The ID TheftSmart program monitors your credit on an ongoing basis so that you don’t have to go through the same ordeal Mike did. ID TheftSmart will alert you whenever someone tries to open a line of credit in your name. If your credit is compromised, the Identity Fraud Restoration services do most of the work to resolve your identity theft issues.
Stanley
Jul
13
Vijayanand asked:
If you’re like most people, you work hard to build your assets and maintain good credit in the eyes of lenders. Through no fault of your own, however, your hard work can be undermined through Identity theft. Having your identity stolen can wreak havoc on your life. If your social security number is compromised, thieves can rack up thousands of dollars on credit cards you don’t even know you have. Your credit rating can be ruined to the point where it’s impossible for you to get any kind of loan. In the worst cases, thieves can get driver’s licenses in your name and impersonate you in criminal pursuits. A warrant could be issued for you for crimes someone else committed in your name.
There are dozens of ways that criminals can access your personal and financial information. For example, they can steal your wallet or purse, rifle through your mail for credit applications, hack into your online accounts or bribe employees at companies who have access to your financial records and identity theft protection Protecting yourself from ID theft requires constant vigilance. There are steps you can take to minimize or prevent ID theft, some of the areas of opportunity for thieves (such as shredding credit card applications and using computer firewalls), but there are some vulnerabilities you simply can’t prevent ID Theft. For those things, early detection is the only way to minimize the damage.
The three main credit reporting agencies, TransUnion, Experian and Equifax, all provide one free credit report per year to consumers. Reviewing these credit reports is one way to identify fraudulent activity. Unfortunately, checking your credit report once a year is not enough to prevent damage from ID Theft. Your credit rating can fall quickly once your identity has been compromised. You need to know what’s on your credit on a regular basis to thwart identity thieves from the start.
ID TheftSmart from Comodo offers credit protection Identity theft Prevention? Anchor text and restoration services. Besides providing access to your credit score and credit report, ID TheftSmart monitors your credit constantly and alerts you to issues before they have a chance to damage your credit rating. Additionally, they provide email warnings of potentially fraudulent activity so you can stop it in its tracks. You do not have to fear for your credit rating or your good name when you enroll in the ID TheftSmart program.
If you do become the victim of ID theft, ID TheftSmart makes it easy to rectify the problem. A team of licensed investigators immediately puts fraud alerts on your credit to prevent further damage. They then comb through your personal and financial records to identify any suspicious activity and work with the proper authorities to restore your proper credit rating and good reputation. Recovering from identity theft on your own can take hundreds of hours of your personal time. If you are a member of ID TheftSmart, however, most of the work is done for you. Neither your time nor your credit has to suffer from someone else’s bad deeds when you protect yourself with ID TheftSmart.
Jorge
If you’re like most people, you work hard to build your assets and maintain good credit in the eyes of lenders. Through no fault of your own, however, your hard work can be undermined through Identity theft. Having your identity stolen can wreak havoc on your life. If your social security number is compromised, thieves can rack up thousands of dollars on credit cards you don’t even know you have. Your credit rating can be ruined to the point where it’s impossible for you to get any kind of loan. In the worst cases, thieves can get driver’s licenses in your name and impersonate you in criminal pursuits. A warrant could be issued for you for crimes someone else committed in your name.
There are dozens of ways that criminals can access your personal and financial information. For example, they can steal your wallet or purse, rifle through your mail for credit applications, hack into your online accounts or bribe employees at companies who have access to your financial records and identity theft protection Protecting yourself from ID theft requires constant vigilance. There are steps you can take to minimize or prevent ID theft, some of the areas of opportunity for thieves (such as shredding credit card applications and using computer firewalls), but there are some vulnerabilities you simply can’t prevent ID Theft. For those things, early detection is the only way to minimize the damage.
The three main credit reporting agencies, TransUnion, Experian and Equifax, all provide one free credit report per year to consumers. Reviewing these credit reports is one way to identify fraudulent activity. Unfortunately, checking your credit report once a year is not enough to prevent damage from ID Theft. Your credit rating can fall quickly once your identity has been compromised. You need to know what’s on your credit on a regular basis to thwart identity thieves from the start.
ID TheftSmart from Comodo offers credit protection Identity theft Prevention? Anchor text and restoration services. Besides providing access to your credit score and credit report, ID TheftSmart monitors your credit constantly and alerts you to issues before they have a chance to damage your credit rating. Additionally, they provide email warnings of potentially fraudulent activity so you can stop it in its tracks. You do not have to fear for your credit rating or your good name when you enroll in the ID TheftSmart program.
If you do become the victim of ID theft, ID TheftSmart makes it easy to rectify the problem. A team of licensed investigators immediately puts fraud alerts on your credit to prevent further damage. They then comb through your personal and financial records to identify any suspicious activity and work with the proper authorities to restore your proper credit rating and good reputation. Recovering from identity theft on your own can take hundreds of hours of your personal time. If you are a member of ID TheftSmart, however, most of the work is done for you. Neither your time nor your credit has to suffer from someone else’s bad deeds when you protect yourself with ID TheftSmart.
Jorge
Jul
11
Bernz Jayma P. asked:
Among the many things we want in life include security. Security is not limited to financial security or psychological security; this encompasses a wide variety of things including personal security. The transactions made everyday makes everyone exposed to identity theft. One of the most dangerous things that can happen today is losing your laptop. A lot of sensitive information is inevitably stored on your computer because it is used for personal and business reasons. There are startling numbers of lost laptops reported in different security agencies. Here are some of the tips in dealing with lost valuable thing like a laptop:
Prevention is better than cure as they say about disease but we should apply it with our things and other personal possessions as well. As a preventive measure, you should always have an online backup service for your files. We know that loss of important documents, pictures and emails is more frustrating than the loss of the laptop itself. The backup files will assure you that important documents can be retrieved easily.
As we all know, your laptop contains private information because it is a personal belonging. Most of the time it contains your bank account number, important telephone numbers and passwords that can be conveniently read by a criminal. If possible try to create back – up data manually and delete all your passwords on your laptop. In addition, some of the programs in the laptop automatically save your passwords so you must always delete them after use. Make use of the good passwords which cannot be easily made and gained access to. Most of the laptop companies provide laptop tracking and recovery service so you can locate missing laptops. You can label your laptop with your name and contact information so that it could be returned if ever lost by an honest citizen who finds it.
You must be aware that a laptop is one of the most tempting objects for dishonest people. Mark your laptop and have a copy of the serial number of it. It is easier to find a stolen laptop when you have the serial number and other identifying marks of your ownership. Getting the services of identity theft protection services is also recommended. It will help you in case your laptop gets stolen.
Dora
Among the many things we want in life include security. Security is not limited to financial security or psychological security; this encompasses a wide variety of things including personal security. The transactions made everyday makes everyone exposed to identity theft. One of the most dangerous things that can happen today is losing your laptop. A lot of sensitive information is inevitably stored on your computer because it is used for personal and business reasons. There are startling numbers of lost laptops reported in different security agencies. Here are some of the tips in dealing with lost valuable thing like a laptop:
Prevention is better than cure as they say about disease but we should apply it with our things and other personal possessions as well. As a preventive measure, you should always have an online backup service for your files. We know that loss of important documents, pictures and emails is more frustrating than the loss of the laptop itself. The backup files will assure you that important documents can be retrieved easily.
As we all know, your laptop contains private information because it is a personal belonging. Most of the time it contains your bank account number, important telephone numbers and passwords that can be conveniently read by a criminal. If possible try to create back – up data manually and delete all your passwords on your laptop. In addition, some of the programs in the laptop automatically save your passwords so you must always delete them after use. Make use of the good passwords which cannot be easily made and gained access to. Most of the laptop companies provide laptop tracking and recovery service so you can locate missing laptops. You can label your laptop with your name and contact information so that it could be returned if ever lost by an honest citizen who finds it.
You must be aware that a laptop is one of the most tempting objects for dishonest people. Mark your laptop and have a copy of the serial number of it. It is easier to find a stolen laptop when you have the serial number and other identifying marks of your ownership. Getting the services of identity theft protection services is also recommended. It will help you in case your laptop gets stolen.
Dora
Jul
9
Id Theft Prevention – Things to Do Right Now, Habits to Follow
Filed Under Finance | Leave a Comment
Jim G. George asked:
The bear in your campground analogy:
Perfect protection is unreachable but you can be better protected than most people with reasonable efforts. The “Bear in Your Campground” story applies here. When a bear comes into your campground, you can’t outrun the bear but you can outrun the other campers. The fact is that there is no way you can be sure to outrun the thieves either, but you can outrun the other potential victims – and that may be enough. I will try to help you make the trade-offs that work for you.
There are lots of people out there making it easy to steal their identities. You don’t want to be one of them. There is a lot you can do without major expenditures and major changes in your lifestyle. The point of this book is to teach you what you can do and let you make intelligent trade-offs yourself of security versus cost and inconvenience.
Things to do right away:
The point of this is to get you off to a fast start, positioned to better protect yourself. Some of the things you should do right away include:
Review your last bank and card statements.
Be sure all listed transactions were authorized by a family member, don’t assume. Also check to see that you are not missing the most recent statement, as that might be a sign of account takeover. List each account and card on the Account and Card Inventory Form provided in the back of this book. Include on your list your divers license and ID cards from your employer, insurers, that would have to be replaced if your wallet was lost or stolen. This form will be an important tool for detection as well as recovery.
Order a credit report.
One report from each agency per year is now free. Some people get one each four months, on a revolving basis, so that they never have to pay for a report. Some request all three or each more often. This is one of those trade-offs of protection versus expense and effort. To order, go to the Annual Credit Report Service at www.annualcreditreport.com, call them at 877-322-8228, or contact a specific credit agency:
* Equifax: 800-685-1111 or www.equifax.com
* Experian: 888-397-3742 or www.experian.com
* Transunion: 800-888-4213 or www.transunion.com
Calendar the date when you want to order the next credit report. And note which agencies are next in rotation, if you are ordering one at a time.
When I first did this I found a debt listed that had been run up by my former wife. I called the bank and got them to take it off of my credit report. As reviewing your credit report is an ongoing habit, we will discuss what to do when the report arrives in the next section.
Install a locking mailbox or get a Post Office Box.
Incoming mail can provide a thief with credit cards, applications, checks, and various identifying information. I put up the first locking mailbox in my neighborhood. It cost $60 and a little time. But when one neighbor had a box of checks stolen and another lost incoming pay and dividend checks, I wasn’t the only one for long.
When my wife went out to run in the mornings, at least once a week she noticed all the unlocked mailboxes were hanging open. One day in the park I found all of a certain neighbor’s junk mail. But not those credit card offers and nothing that resembled account statements, or other financial or government mail – those were too valuable for the thieves to toss. What was going on was that groups of teens were cruising the streets making quick grabs into unlocked boxes. They sell “interesting” items to a broker. The broker sorts out the items by type and sells groups of like items to transaction specialists. Certain thieves pass bad checks, others use deposit slips, still others specialize in cards-related frauds.
P.O. boxes may be safer, if less convenient and more expensive, another trade-off. The bear might tear into your locked mailbox, but if the other campers have open jars of honey out front, then why would he bother you?
Get gel ballpoint pens for writing checks.
A thief can take a check from your outgoing mail, remove regular ballpoint pen ink with nail polish remover (protecting the signature, of course), and have a signed blank check – on your account.
The cheapest investment you can make is to buy a gel ballpoint pen and keep it clipped to your checkbook. Gel is a newer kind of ink which cannot be removed by washing. The point is to look for the word “GEL” on the pen, buy it, and use it for all your checks.
Get a shredder.
A crosscut or confetti style is best, as strips can be reconstructed. Anything with your social security number on it or containing personal data is fair game to the thieves when it hits your garbage bag or can. “Dumpster diving” is a profitable profession.
Things you don’t want fished from your trash include bank and card statements, old taxes, voided or old checks, deposit slips, credit applications you don’t want to complete, credit offers, and those checks the credit card companies send you to initiate low interest rate loans and balance transfers.
Change poor PINs and passwords.
They should be at least six numbers and/or characters. They should not be easy to guess or based on information which might be in your wallet. The first numbers a purse or wallet thief would try are parts of your birth date, phone number, SSN, and any other key number they find in you wallet. Realize that your SSN can be accessed by a large number of people. A thief might obtain it and try different parts of it in guessing your PIN even if they don’t find it in your wallet.
There are trade-offs here too.
* Multiples – If you always use the same password it is easy to remember but people at each site have access to it. So you also might want to use a unique password on banking sites. If you use the same ID and password on many sites you are exposing them to key employees of multiple companies.
* Complexity – Complex passwords may be hard to recall and tempt you to write them down in a handy spot.
* Real or made-up – To be extra careful, you might create and use an imaginary “mother’s maiden name”, as the real one could be researched. It is on your birth certificate, for example.
Set up a password on each bank and card account.
Use your Account and Card Inventory Form as a guide to contact each bank. Once set up, the password can be used by the bank to determine it is really calling them with a transaction such as an address change or funds transfer. If the only way they can identify you is by asking for personal data, your account is exposed to any thief who has obtained your data.
Remove any PINs or passwords written in your wallet / purse.
They could be a goldmine for a thief.
Secure any PIN and password list within your home.
Don’t leave them out, in a well labelled file in an unlocked file cabinet, on your computer in an easy to find file, or on a notebook PC that could be stolen.
Protect Social Security Numbers (SSN).
Remove them from your checks, driver’s license, resume, or other documents where it is not required. My employer forced their insurance companies to take our SSNs off of our group insurance cards.
Remove unneeded IDs from your wallet, purse, and car.
This will reduce the potential damage from theft and reduce the work you will have to do if theft does occur.
Protect your PC’s
Get and run anti-spyware and anti-virus programs and firewalls. Be sure to use the encryption option on wireless networks.
Protect Yourself – Avoidance Habits to Develop and Keep
Even as you complete the initial protection steps described in the prior chapter, you also need to start practicing on-going protective habits.
Review this list from time to time.
The first habit is to learn and repeat each of the others. Put “review the good habits list” on your calendar, as a reminder, until you regularly practice each of these good habits.
Protect your outgoing mail.
Taking outgoing mail can be lucrative for the thief in many ways.
* Applications – Applications for cards or loans can be “edited” by thieves so that they get the payoff and you get the collection calls.
* Checks – A check in the outgoing mail can be as good as gold to them. Even if you used a gel pen to prevent alteration of that check, the data on your check can be used to produce (or even order) perfectly valid looking checks that can be written by the thief that will clear and post against your checking account.
* Deposits – An outgoing deposit-by-mail is a double gift to the thief. Not only can they “edit” the checks to their specifications but they can use the deposit slip too. That scam goes like this: They go into your bank (probably a remotely located branch so they aren’t recognized) and hand the teller the deposit slip along with some bogus checks they printed up on their PC or have from a nearly zero balance account out of state. Then they ask for some cash back from the deposited funds. They are usually handed the cash, since it is less that the funds already available on your account. When the deposited checks bounce back against your account, the thief has been gone for two or three days.
* Data sources – Various other sorts of mail (like car registrations, tax forms) can help the thief build a file on you which will later be used to open accounts in your name. You can count on him running up overdrafts and bad debts in your good name.
For all of these reasons, place outgoing mail only in secure mail boxes, not the office OUT box and not your personal mailbox. The big blue USPS boxes are pretty well bear-proof.
Be wary at ATMs and points of purchase
The ideal situation for a thief is to have both your card and your PIN. They will go to quite a bit of trouble to get them. If they can copy the data from the magnetic stripe on the back of the card they can create an exact copy of your card. Even with only plain white card stock they can use the magnetic stripe data to create a “white card” that will work perfectly well on an ATM, gas pump or other unmanned locations.
* Getting your PIN – Watch out for “shoulder surfing”. Be aware of anyone watching you enter your PIN at an ATM or point of purchase terminal. Some thieves even use a video camera to record your entry from a short distance or hide a camera to record and transmit your finger movements on the keypad.
* Getting your data – Your card’s magnetic stripe data can be read by one of three types of small skimmer devices.
* One is a portable device that can be taped to a waiter’s arm. They go to a private space, roll up their sleeve, swipe the card, then go about their normal business.
* Another kind is mounted under the counter. You won’t see the card swiped but it will disappear from view momentarily.
* Some thieves go so far as to install a skimmer on a bank’s ATM. These look like part of the machine but they are unauthorized “add-ons” that read the magnetic stripe on the card before passing it on to the real ATM card reader.
* Getting your card – Some thieves us a device known as a “Lebanese loop” to steal your card at the ATM. The loop is a strip of plastic they stick into the cred reader slot. Your card is caught by it and jams. After you leave in frustration the thief uses a tool to pull out the loop and your card with it.
Use safer ways to make payments.
It is safer to use credit over debit cards, as they provide better protection against fraudulent charges and their spending limit is most likely below the amount than can be taken from your deposit (checking or savings) account. Once money has been taken from your deposit account, it may take some time to resolve the issue with the bank. In the mean time you may not have access to all of your funds. A credit card balance, on the other hand, you can simply not pay if you have lodged a legitimate complaint in the right manner.
Checks are relatively easy to manipulate. Even if gel ink is used the check can be scanned, the image manipulated, then printed (including the signature). It is remarkably easy for people to order checks on your account and have them sent to an address supplied by the thief. They just say they are you and have recently moved. Many check printers do nothing to verify the identity of the person placing the order, On-line bill paying is available from most banks and is far safer. Once you get used to it you will probably find it more convenient as well. Just be careful with your on-line ID and password.
Now obviously there are other kinds of risks in the world that need to be considered. Over use of credit cards, without regular full payments of the balance, can be a problem. To address this, some families use one card for debt and another for routine purchases. They look for a low-interest card for the first purpose and pay off the other each month, without exception.
Close old accounts.
An amazing number of accounts are sitting around the country in an inactive status. These are prime targets for the thief. If they send in or call in a change of address for the account they are set to strike. They can then run up a card balance, get checks printed and overdraft a deposit account, and set up new accounts related to the original.
After you try to close an account, note it on your Account and Card Inventory Form but don’t remove it until you see a credit report listing it as closed. It once took me five trys to get a card issues to actually cancel my card account.
Establish good habits for new accounts.
Ask what the statement date will be. Establish passwords when you set up the account, as described in Chapter 2. Add new accounts to the Account and Card Inventory Form as soon as you get them. Watch for the first statement and review it carefully.
Avoid common mistakes
Doing the things described above is important. But it is equally important that you avoid common mistakes.
* Don’t give out data – Incoming-phone calls or e-mail can be a source of data to the thief. They can later use that data to pretend to be you while on the phone to a bank, check printer, or loan company. Once they are accepted as you, they can run any number of scams:
* Take over your account by changing the address of record. They can then transact without your finding out about the activity.
* Set up a new account, card, or loan and link it to the existing accounts. They then are positioned to make transfers as well as play on your good credit.
Another form of thief’s data request is “phishing” e-mails. These can seem to be from your bank, card company, brokerage, or other trusted financial institution. They send you to an apparently valid web site that asks for your ID and PIN data. They can be very realistic, with your bank’s logo, the look and feel of their web site and even seem to have taken you to the familiar site.
Don’t ever provide ID or PIN’s as a response to e-mails or calls. Call the bank and report the e-mail. Go to your bank’s Web site only in your usual manner, by typing in their URL or clicking from your browser’s Favorites or Bookmarks list.
* Don’t leave data around – Don’t leave the customer copy of a charge slip on the table after paying for a meal or making a store purchase. Although the law now requires that only the last digits of your card number appear on the slip, some older systems are still out there which have the whole card number. This applies also to carbon copies and the carbon sheets themselves.
*Don’t write your PIN or password on anything that isn’t very secure. This includes your house or unsecured PC file.
* Don’t use your SSN unnecessarily – Don’t put your SSN on your checks, driver’s license, resumes or anything else, if you can avoid it. Don’t give it out unless absolutely necessary. It is legally required in relation to any taxable income source. Merchants may not choose to grant you credit if you do not reveal it, it’s your choice (and theirs) in that case. Some people make up a number. This ploy has risks that the number will be found to be invalid or, worse, that the number belongs to someone else. The other person may not have good credit or may even be wanted by law enforcement. You don’t want to appear to be an ID thief yourself.
*Don’t ignore early signs – A common mistake is to take lightly the early signs of identity theft. The quicker it is caught, the sooner it will be resolved and at the least cost in effort and dollars. That is the subject of the next chapter.
This article is from a larger workbook available at www.yourIDsite.com
Copyright Jim G. George
Dean
The bear in your campground analogy:
Perfect protection is unreachable but you can be better protected than most people with reasonable efforts. The “Bear in Your Campground” story applies here. When a bear comes into your campground, you can’t outrun the bear but you can outrun the other campers. The fact is that there is no way you can be sure to outrun the thieves either, but you can outrun the other potential victims – and that may be enough. I will try to help you make the trade-offs that work for you.
There are lots of people out there making it easy to steal their identities. You don’t want to be one of them. There is a lot you can do without major expenditures and major changes in your lifestyle. The point of this book is to teach you what you can do and let you make intelligent trade-offs yourself of security versus cost and inconvenience.
Things to do right away:
The point of this is to get you off to a fast start, positioned to better protect yourself. Some of the things you should do right away include:
Review your last bank and card statements.
Be sure all listed transactions were authorized by a family member, don’t assume. Also check to see that you are not missing the most recent statement, as that might be a sign of account takeover. List each account and card on the Account and Card Inventory Form provided in the back of this book. Include on your list your divers license and ID cards from your employer, insurers, that would have to be replaced if your wallet was lost or stolen. This form will be an important tool for detection as well as recovery.
Order a credit report.
One report from each agency per year is now free. Some people get one each four months, on a revolving basis, so that they never have to pay for a report. Some request all three or each more often. This is one of those trade-offs of protection versus expense and effort. To order, go to the Annual Credit Report Service at www.annualcreditreport.com, call them at 877-322-8228, or contact a specific credit agency:
* Equifax: 800-685-1111 or www.equifax.com
* Experian: 888-397-3742 or www.experian.com
* Transunion: 800-888-4213 or www.transunion.com
Calendar the date when you want to order the next credit report. And note which agencies are next in rotation, if you are ordering one at a time.
When I first did this I found a debt listed that had been run up by my former wife. I called the bank and got them to take it off of my credit report. As reviewing your credit report is an ongoing habit, we will discuss what to do when the report arrives in the next section.
Install a locking mailbox or get a Post Office Box.
Incoming mail can provide a thief with credit cards, applications, checks, and various identifying information. I put up the first locking mailbox in my neighborhood. It cost $60 and a little time. But when one neighbor had a box of checks stolen and another lost incoming pay and dividend checks, I wasn’t the only one for long.
When my wife went out to run in the mornings, at least once a week she noticed all the unlocked mailboxes were hanging open. One day in the park I found all of a certain neighbor’s junk mail. But not those credit card offers and nothing that resembled account statements, or other financial or government mail – those were too valuable for the thieves to toss. What was going on was that groups of teens were cruising the streets making quick grabs into unlocked boxes. They sell “interesting” items to a broker. The broker sorts out the items by type and sells groups of like items to transaction specialists. Certain thieves pass bad checks, others use deposit slips, still others specialize in cards-related frauds.
P.O. boxes may be safer, if less convenient and more expensive, another trade-off. The bear might tear into your locked mailbox, but if the other campers have open jars of honey out front, then why would he bother you?
Get gel ballpoint pens for writing checks.
A thief can take a check from your outgoing mail, remove regular ballpoint pen ink with nail polish remover (protecting the signature, of course), and have a signed blank check – on your account.
The cheapest investment you can make is to buy a gel ballpoint pen and keep it clipped to your checkbook. Gel is a newer kind of ink which cannot be removed by washing. The point is to look for the word “GEL” on the pen, buy it, and use it for all your checks.
Get a shredder.
A crosscut or confetti style is best, as strips can be reconstructed. Anything with your social security number on it or containing personal data is fair game to the thieves when it hits your garbage bag or can. “Dumpster diving” is a profitable profession.
Things you don’t want fished from your trash include bank and card statements, old taxes, voided or old checks, deposit slips, credit applications you don’t want to complete, credit offers, and those checks the credit card companies send you to initiate low interest rate loans and balance transfers.
Change poor PINs and passwords.
They should be at least six numbers and/or characters. They should not be easy to guess or based on information which might be in your wallet. The first numbers a purse or wallet thief would try are parts of your birth date, phone number, SSN, and any other key number they find in you wallet. Realize that your SSN can be accessed by a large number of people. A thief might obtain it and try different parts of it in guessing your PIN even if they don’t find it in your wallet.
There are trade-offs here too.
* Multiples – If you always use the same password it is easy to remember but people at each site have access to it. So you also might want to use a unique password on banking sites. If you use the same ID and password on many sites you are exposing them to key employees of multiple companies.
* Complexity – Complex passwords may be hard to recall and tempt you to write them down in a handy spot.
* Real or made-up – To be extra careful, you might create and use an imaginary “mother’s maiden name”, as the real one could be researched. It is on your birth certificate, for example.
Set up a password on each bank and card account.
Use your Account and Card Inventory Form as a guide to contact each bank. Once set up, the password can be used by the bank to determine it is really calling them with a transaction such as an address change or funds transfer. If the only way they can identify you is by asking for personal data, your account is exposed to any thief who has obtained your data.
Remove any PINs or passwords written in your wallet / purse.
They could be a goldmine for a thief.
Secure any PIN and password list within your home.
Don’t leave them out, in a well labelled file in an unlocked file cabinet, on your computer in an easy to find file, or on a notebook PC that could be stolen.
Protect Social Security Numbers (SSN).
Remove them from your checks, driver’s license, resume, or other documents where it is not required. My employer forced their insurance companies to take our SSNs off of our group insurance cards.
Remove unneeded IDs from your wallet, purse, and car.
This will reduce the potential damage from theft and reduce the work you will have to do if theft does occur.
Protect your PC’s
Get and run anti-spyware and anti-virus programs and firewalls. Be sure to use the encryption option on wireless networks.
Protect Yourself – Avoidance Habits to Develop and Keep
Even as you complete the initial protection steps described in the prior chapter, you also need to start practicing on-going protective habits.
Review this list from time to time.
The first habit is to learn and repeat each of the others. Put “review the good habits list” on your calendar, as a reminder, until you regularly practice each of these good habits.
Protect your outgoing mail.
Taking outgoing mail can be lucrative for the thief in many ways.
* Applications – Applications for cards or loans can be “edited” by thieves so that they get the payoff and you get the collection calls.
* Checks – A check in the outgoing mail can be as good as gold to them. Even if you used a gel pen to prevent alteration of that check, the data on your check can be used to produce (or even order) perfectly valid looking checks that can be written by the thief that will clear and post against your checking account.
* Deposits – An outgoing deposit-by-mail is a double gift to the thief. Not only can they “edit” the checks to their specifications but they can use the deposit slip too. That scam goes like this: They go into your bank (probably a remotely located branch so they aren’t recognized) and hand the teller the deposit slip along with some bogus checks they printed up on their PC or have from a nearly zero balance account out of state. Then they ask for some cash back from the deposited funds. They are usually handed the cash, since it is less that the funds already available on your account. When the deposited checks bounce back against your account, the thief has been gone for two or three days.
* Data sources – Various other sorts of mail (like car registrations, tax forms) can help the thief build a file on you which will later be used to open accounts in your name. You can count on him running up overdrafts and bad debts in your good name.
For all of these reasons, place outgoing mail only in secure mail boxes, not the office OUT box and not your personal mailbox. The big blue USPS boxes are pretty well bear-proof.
Be wary at ATMs and points of purchase
The ideal situation for a thief is to have both your card and your PIN. They will go to quite a bit of trouble to get them. If they can copy the data from the magnetic stripe on the back of the card they can create an exact copy of your card. Even with only plain white card stock they can use the magnetic stripe data to create a “white card” that will work perfectly well on an ATM, gas pump or other unmanned locations.
* Getting your PIN – Watch out for “shoulder surfing”. Be aware of anyone watching you enter your PIN at an ATM or point of purchase terminal. Some thieves even use a video camera to record your entry from a short distance or hide a camera to record and transmit your finger movements on the keypad.
* Getting your data – Your card’s magnetic stripe data can be read by one of three types of small skimmer devices.
* One is a portable device that can be taped to a waiter’s arm. They go to a private space, roll up their sleeve, swipe the card, then go about their normal business.
* Another kind is mounted under the counter. You won’t see the card swiped but it will disappear from view momentarily.
* Some thieves go so far as to install a skimmer on a bank’s ATM. These look like part of the machine but they are unauthorized “add-ons” that read the magnetic stripe on the card before passing it on to the real ATM card reader.
* Getting your card – Some thieves us a device known as a “Lebanese loop” to steal your card at the ATM. The loop is a strip of plastic they stick into the cred reader slot. Your card is caught by it and jams. After you leave in frustration the thief uses a tool to pull out the loop and your card with it.
Use safer ways to make payments.
It is safer to use credit over debit cards, as they provide better protection against fraudulent charges and their spending limit is most likely below the amount than can be taken from your deposit (checking or savings) account. Once money has been taken from your deposit account, it may take some time to resolve the issue with the bank. In the mean time you may not have access to all of your funds. A credit card balance, on the other hand, you can simply not pay if you have lodged a legitimate complaint in the right manner.
Checks are relatively easy to manipulate. Even if gel ink is used the check can be scanned, the image manipulated, then printed (including the signature). It is remarkably easy for people to order checks on your account and have them sent to an address supplied by the thief. They just say they are you and have recently moved. Many check printers do nothing to verify the identity of the person placing the order, On-line bill paying is available from most banks and is far safer. Once you get used to it you will probably find it more convenient as well. Just be careful with your on-line ID and password.
Now obviously there are other kinds of risks in the world that need to be considered. Over use of credit cards, without regular full payments of the balance, can be a problem. To address this, some families use one card for debt and another for routine purchases. They look for a low-interest card for the first purpose and pay off the other each month, without exception.
Close old accounts.
An amazing number of accounts are sitting around the country in an inactive status. These are prime targets for the thief. If they send in or call in a change of address for the account they are set to strike. They can then run up a card balance, get checks printed and overdraft a deposit account, and set up new accounts related to the original.
After you try to close an account, note it on your Account and Card Inventory Form but don’t remove it until you see a credit report listing it as closed. It once took me five trys to get a card issues to actually cancel my card account.
Establish good habits for new accounts.
Ask what the statement date will be. Establish passwords when you set up the account, as described in Chapter 2. Add new accounts to the Account and Card Inventory Form as soon as you get them. Watch for the first statement and review it carefully.
Avoid common mistakes
Doing the things described above is important. But it is equally important that you avoid common mistakes.
* Don’t give out data – Incoming-phone calls or e-mail can be a source of data to the thief. They can later use that data to pretend to be you while on the phone to a bank, check printer, or loan company. Once they are accepted as you, they can run any number of scams:
* Take over your account by changing the address of record. They can then transact without your finding out about the activity.
* Set up a new account, card, or loan and link it to the existing accounts. They then are positioned to make transfers as well as play on your good credit.
Another form of thief’s data request is “phishing” e-mails. These can seem to be from your bank, card company, brokerage, or other trusted financial institution. They send you to an apparently valid web site that asks for your ID and PIN data. They can be very realistic, with your bank’s logo, the look and feel of their web site and even seem to have taken you to the familiar site.
Don’t ever provide ID or PIN’s as a response to e-mails or calls. Call the bank and report the e-mail. Go to your bank’s Web site only in your usual manner, by typing in their URL or clicking from your browser’s Favorites or Bookmarks list.
* Don’t leave data around – Don’t leave the customer copy of a charge slip on the table after paying for a meal or making a store purchase. Although the law now requires that only the last digits of your card number appear on the slip, some older systems are still out there which have the whole card number. This applies also to carbon copies and the carbon sheets themselves.
*Don’t write your PIN or password on anything that isn’t very secure. This includes your house or unsecured PC file.
* Don’t use your SSN unnecessarily – Don’t put your SSN on your checks, driver’s license, resumes or anything else, if you can avoid it. Don’t give it out unless absolutely necessary. It is legally required in relation to any taxable income source. Merchants may not choose to grant you credit if you do not reveal it, it’s your choice (and theirs) in that case. Some people make up a number. This ploy has risks that the number will be found to be invalid or, worse, that the number belongs to someone else. The other person may not have good credit or may even be wanted by law enforcement. You don’t want to appear to be an ID thief yourself.
*Don’t ignore early signs – A common mistake is to take lightly the early signs of identity theft. The quicker it is caught, the sooner it will be resolved and at the least cost in effort and dollars. That is the subject of the next chapter.
This article is from a larger workbook available at www.yourIDsite.com
Copyright Jim G. George
Dean
Jul
9
Identity Theft Statistics Now Show That There Has Been An Increase In Id Theft Online
Filed Under Advice | Leave a Comment
Ann Marier asked:
Identity theft is one of the most troubling problems of the modern world. Although it is hard to come by good identity theft statistics, one thing is clear. Credit card theft and other forms of theft of identity are on the rise. If this was not troubling enough, consider the fact that you never know when your identity is being stolen. You will only find out days, weeks, or even months later. It is almost impossible to prevent identity theft. At best, all you can do is take steps to make it easier to recover your identity.
Identity theft stats do make one thing clear: people who take steps to protect their identities are much less vulnerable. Identity theft statistics tell us that people who keep good financial records, make sure that their Internet accounts are well protected, frequently change passwords, and regularly check their credit, are less likely to be victimized. When they are the victim of identity theft, these people can resolve the issue much more quickly. It is easier for them to prove that their identity has been stolen and that they are not responsible for any purchases that have been made in their name.
Statistics on identity theft, however, tell us nothing about which steps are the most important, and which ones can be ignored. Because identity theft is such a new problem, identity theft statistics are not all that sophisticated yet. The only solution is to take all the steps that you can to protect your identity. This can prove costly, but it is worth it! For example, according to recent identity theft statistics, if your computer is well secured you are several times less likely to have your identity stolen.
According to identity theft statistics, it is as important to take precautions when you go on vacation as when you are at home. When you are traveling, particularly if you’re going for an extended stay, you are vulnerable. You will not see the mail coming into your house, and will be unaware of unusual charges on your bank account until it is too late. Fortunately, identity theft protection works whether or not you are at home. Identity theft statistics, in fact, do not indicate a significant difference in security between people who are home, and people who are traveling abroad. As long as you protect your identity, you are at a much lower risk of having it stolen. The most important thing is not to delay. Every day without theft protection is another day when you could be victimized.
Mathew
Identity theft is one of the most troubling problems of the modern world. Although it is hard to come by good identity theft statistics, one thing is clear. Credit card theft and other forms of theft of identity are on the rise. If this was not troubling enough, consider the fact that you never know when your identity is being stolen. You will only find out days, weeks, or even months later. It is almost impossible to prevent identity theft. At best, all you can do is take steps to make it easier to recover your identity.
Identity theft stats do make one thing clear: people who take steps to protect their identities are much less vulnerable. Identity theft statistics tell us that people who keep good financial records, make sure that their Internet accounts are well protected, frequently change passwords, and regularly check their credit, are less likely to be victimized. When they are the victim of identity theft, these people can resolve the issue much more quickly. It is easier for them to prove that their identity has been stolen and that they are not responsible for any purchases that have been made in their name.
Statistics on identity theft, however, tell us nothing about which steps are the most important, and which ones can be ignored. Because identity theft is such a new problem, identity theft statistics are not all that sophisticated yet. The only solution is to take all the steps that you can to protect your identity. This can prove costly, but it is worth it! For example, according to recent identity theft statistics, if your computer is well secured you are several times less likely to have your identity stolen.
According to identity theft statistics, it is as important to take precautions when you go on vacation as when you are at home. When you are traveling, particularly if you’re going for an extended stay, you are vulnerable. You will not see the mail coming into your house, and will be unaware of unusual charges on your bank account until it is too late. Fortunately, identity theft protection works whether or not you are at home. Identity theft statistics, in fact, do not indicate a significant difference in security between people who are home, and people who are traveling abroad. As long as you protect your identity, you are at a much lower risk of having it stolen. The most important thing is not to delay. Every day without theft protection is another day when you could be victimized.
Mathew
Jul
8
Identify theft. What is it and how do you protect yourself from it?
Filed Under Home Security | Leave a Comment
Oli Osorhan asked:
What is identity theft?
Identity theft is when a person steals personal information, such as the name, address, birth date, Social Security number or mother’s maiden name from another person in order to commit fraud. The thief then uses this information to impersonate the victim and take over their financial identity.
With a relatively small amount of information criminal can taking over banking, insurance or investment accounts, open new bank accounts, purchase automobiles, apply for loans and credit cards, receive Social Security benefits, rent apartments, and even establish utility and phone company services, all under the stolen identity.
How do identity thieves get personal information?
While there is much in the media about internet based identity theft, there are lots of ways your personal information can be stolen, many of them much easier than internet theft.
-Stealing your wallet, purse, or checkbook.
-Removing mail from your mailbox, both incoming or outgoing.
-Going through your trash to find statements and receipts.
-Phishing – Obtaining information by email scams or fraudulent websites.
-Hacking – Illegally gaining access to a computer where personal information is stored.
-Social Engineering- Simply tricking the victim into giving out personal information
Who is an identity thief?
Contrary to what many people think, identity thieves are not always sinister villains looking for victims. In fact, many studies show that a significant portion of identity theft actually occurs by people the victim knows and trusts.
-Opportunity criminals who ‘chance’ upon your personal information
-Organized criminals who actively seek victims
-Husbands and wives who use their spouse’s information to open accounts to take money
-Roommates
-A person you meet at a party who has lots of questions about your personal life
-Parents who use a child’s identity
-Children who use a parent’s identity
-Housekeepers, contractors or others who have access to your home
How do I protect myself from identity theft?
By taking a few precautions you can limit the opportunity for an identity thief to steal your personal information.
Safeguard and protect your personal information
-Don’t carry important documents such as Social Security cards, passports, or birth certificates in your purse or wallet. Keep important documents in a safe place at home or in a safe deposit box at the bank. Only carry them when you need them.
-Shred any receipts, financial statements, documents, or bank statements, including credit card bills, before disposing of them.
Immediately report lost or stolen checks immediately to your bank or other financial institution.
-Immediately report lost or stolen debit or credit cards.
-Always store checks in a safe place including cancelled ones. Ask your bank if they will store your checks instead of returning them in the mail.
-Store any account numbers in a safe place and don’t write down passwords for internet sites that contain personal information such as internet banking sites.
-Reconcile your banking statements regularly and consider using your bank’s internet banking service to monitor your accounts regularly. Studies show that identify theft is caught quicker and is less costly by victims who use check their accounts regularly.
-Remove mail from your mailbox as soon after delivery as possible. When mailing bills and credit card payments, take them to a post office or place them in a secure, official U.S. Postal Service collection box.
-Consider using an internet banking service to pay bills since even if there is a loss your bank may be obligated to refund your losses. Be sure to check your bank’s terms and conditions.
-Promptly notify your bank and other creditors when you move or change your phone number or email address.
-Contact creditors if your regular bills do not arrive when expected.
Don’t give away your personal information
Careless conversations can be the best source of identity theft. Make sure you don’t make yourself a victim by giving away your confidential information.
- Don’t give out personal information, such as your Social Security number or account numbers, over the telephone unless you initiated the call and you know with whom you are dealing.
-If you receive any telephone calls asking for personal information don’t give out personal information until you can verify to the call is legitimate. A good way to do this is to call the customer service number printed on your statement.
-Confirm why personal information is needed before giving it out and even then only give out what is absolutely necessary.
-Register your home and cell phone numbers with the Federal Do Not Call Registry to reduce some unsolicited calls.
Review your credit report regularly
Your credit report shows most accounts and balances opened using your information. Accounts that you can’t recognize or that have unexplained balances could be signs that your identity has been stolen.
-Review your credit report from the three major agencies at least annually to confirm there were no unauthorized credit inquiries made or accounts opened in your name.
-Consider using one of the credit report monitoring services offered by the major credit reporting agencies.
-In the US you are eligible for a free copy of your credit report under the Fair and Accurate Credit Transactions Act (FACT Act). The FACT Act requires the three major credit reporting agencies to provide consumers with a free copy of their own credit report each year.
To obtain a free credit report contact:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta , GA 30348-5281
1-877-322-8228
What do I do if I think I am a victim of Identity Theft?
-Immediately contact the fraud division of the credit reporting agencies and request that a “fraud alert” be placed in your file. Ask that no new credit be granted without your approval.
-Notify the Social Security Administration by calling 1-800-772-1213.
-Notify all of your creditors of the fraud.
-File a report with your local law enforcement authority.
-Report the fraud to the Federal Trade Commission (FTC) at 1-877-438-4338. The FTC is the clearinghouse for identity theft complaints. They provide information to help resolve financial problems that result from identity theft.
-The FTC provides an ID Theft Affidavit which you should complete as soon as possible after you become aware of the fraud. Completing this affidavit can help protect you from responsibility for fraudulent charges on your accounts.
-Keep detailed records of all events once you determine that your identity has been stolen. Include names, telephone numbers, and the date and time you made contact with individuals or companies requesting assistance in recovering your good name.
While no one can be completely safe from Identity theft, simply taking the time to safeguard your information reduce that likelihood. You can also significantly reduce the amount of time and money you spend to recover your identity if you are prepared before you become a victim.
Aubrey Jones is President and founder of Riverbank Consulting, Inc. Since 1996 he has worked to protect internet banking clients for one of the top US financial institutions.
http://www.moneybizhome.com
Timothy
What is identity theft?
Identity theft is when a person steals personal information, such as the name, address, birth date, Social Security number or mother’s maiden name from another person in order to commit fraud. The thief then uses this information to impersonate the victim and take over their financial identity.
With a relatively small amount of information criminal can taking over banking, insurance or investment accounts, open new bank accounts, purchase automobiles, apply for loans and credit cards, receive Social Security benefits, rent apartments, and even establish utility and phone company services, all under the stolen identity.
How do identity thieves get personal information?
While there is much in the media about internet based identity theft, there are lots of ways your personal information can be stolen, many of them much easier than internet theft.
-Stealing your wallet, purse, or checkbook.
-Removing mail from your mailbox, both incoming or outgoing.
-Going through your trash to find statements and receipts.
-Phishing – Obtaining information by email scams or fraudulent websites.
-Hacking – Illegally gaining access to a computer where personal information is stored.
-Social Engineering- Simply tricking the victim into giving out personal information
Who is an identity thief?
Contrary to what many people think, identity thieves are not always sinister villains looking for victims. In fact, many studies show that a significant portion of identity theft actually occurs by people the victim knows and trusts.
-Opportunity criminals who ‘chance’ upon your personal information
-Organized criminals who actively seek victims
-Husbands and wives who use their spouse’s information to open accounts to take money
-Roommates
-A person you meet at a party who has lots of questions about your personal life
-Parents who use a child’s identity
-Children who use a parent’s identity
-Housekeepers, contractors or others who have access to your home
How do I protect myself from identity theft?
By taking a few precautions you can limit the opportunity for an identity thief to steal your personal information.
Safeguard and protect your personal information
-Don’t carry important documents such as Social Security cards, passports, or birth certificates in your purse or wallet. Keep important documents in a safe place at home or in a safe deposit box at the bank. Only carry them when you need them.
-Shred any receipts, financial statements, documents, or bank statements, including credit card bills, before disposing of them.
Immediately report lost or stolen checks immediately to your bank or other financial institution.
-Immediately report lost or stolen debit or credit cards.
-Always store checks in a safe place including cancelled ones. Ask your bank if they will store your checks instead of returning them in the mail.
-Store any account numbers in a safe place and don’t write down passwords for internet sites that contain personal information such as internet banking sites.
-Reconcile your banking statements regularly and consider using your bank’s internet banking service to monitor your accounts regularly. Studies show that identify theft is caught quicker and is less costly by victims who use check their accounts regularly.
-Remove mail from your mailbox as soon after delivery as possible. When mailing bills and credit card payments, take them to a post office or place them in a secure, official U.S. Postal Service collection box.
-Consider using an internet banking service to pay bills since even if there is a loss your bank may be obligated to refund your losses. Be sure to check your bank’s terms and conditions.
-Promptly notify your bank and other creditors when you move or change your phone number or email address.
-Contact creditors if your regular bills do not arrive when expected.
Don’t give away your personal information
Careless conversations can be the best source of identity theft. Make sure you don’t make yourself a victim by giving away your confidential information.
- Don’t give out personal information, such as your Social Security number or account numbers, over the telephone unless you initiated the call and you know with whom you are dealing.
-If you receive any telephone calls asking for personal information don’t give out personal information until you can verify to the call is legitimate. A good way to do this is to call the customer service number printed on your statement.
-Confirm why personal information is needed before giving it out and even then only give out what is absolutely necessary.
-Register your home and cell phone numbers with the Federal Do Not Call Registry to reduce some unsolicited calls.
Review your credit report regularly
Your credit report shows most accounts and balances opened using your information. Accounts that you can’t recognize or that have unexplained balances could be signs that your identity has been stolen.
-Review your credit report from the three major agencies at least annually to confirm there were no unauthorized credit inquiries made or accounts opened in your name.
-Consider using one of the credit report monitoring services offered by the major credit reporting agencies.
-In the US you are eligible for a free copy of your credit report under the Fair and Accurate Credit Transactions Act (FACT Act). The FACT Act requires the three major credit reporting agencies to provide consumers with a free copy of their own credit report each year.
To obtain a free credit report contact:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta , GA 30348-5281
1-877-322-8228
What do I do if I think I am a victim of Identity Theft?
-Immediately contact the fraud division of the credit reporting agencies and request that a “fraud alert” be placed in your file. Ask that no new credit be granted without your approval.
-Notify the Social Security Administration by calling 1-800-772-1213.
-Notify all of your creditors of the fraud.
-File a report with your local law enforcement authority.
-Report the fraud to the Federal Trade Commission (FTC) at 1-877-438-4338. The FTC is the clearinghouse for identity theft complaints. They provide information to help resolve financial problems that result from identity theft.
-The FTC provides an ID Theft Affidavit which you should complete as soon as possible after you become aware of the fraud. Completing this affidavit can help protect you from responsibility for fraudulent charges on your accounts.
-Keep detailed records of all events once you determine that your identity has been stolen. Include names, telephone numbers, and the date and time you made contact with individuals or companies requesting assistance in recovering your good name.
While no one can be completely safe from Identity theft, simply taking the time to safeguard your information reduce that likelihood. You can also significantly reduce the amount of time and money you spend to recover your identity if you are prepared before you become a victim.
Aubrey Jones is President and founder of Riverbank Consulting, Inc. Since 1996 he has worked to protect internet banking clients for one of the top US financial institutions.
http://www.moneybizhome.com
Timothy