Feb
28
The 411 On Identity Theft
Filed Under News And Society | Leave a Comment
donfrazier asked:
Recent headlines about information breaches and losses of individual information have prompted a lot of companies to advertise products or services to help consumers and prevent or minimize their risk of exposure from personal identity theft.
The Fed, says before you pay up for any personal identity theft prevention product or service, be sure you realize precisely what you are paying for. Many people find value and convenience in paying an outside company to assist them in exerting their rights and protecting their information. At the same time, a lot of rights and protections you possess under federal or state laws can assist you in protecting your identity and recover from personal identity theft at no cost.
Being knowledgeable of and understanding your rights may help you in determining whether – or which – commercial products or services may be best for you.
Fraud Alerts -
A fraud alert is a signal located in your credit report or reference file to warn potential creditors that they must exercise what the law calls “reasonable policies and procedures” to confirm your individual identity prior to issuance of credit in your name.
The Facts -
Opening brand-new deferred payment accounts in your name, may not forestall the misuse of your present accounts.
Under the Federal Fair Credit Reporting Act (FCRA), you might be eligible to two kinds of free fraud alerts:
Initial And Extended.
You might ask a consumer reporting company to put an “initial” fraud alarm on your credit report whenever you surmise you’ve been, or are just about to be, a victim of personal identity theft. This might be advantageous after your pocketbook or some other source of individual data is misplaced or taken.
An initial fraud alarm is beneficial for 90 days, and may be renewed when necessary.
To place an initial fraud alarm, phone the toll-free fraud number of any one of the three national consumer reporting companies. The company you call is compelled to contact the other two; they, successively, will place a warning signal on their editions of your report. Get a number verification from each one of the companies.
Equifax: 1-800-525-6285
Experian: 1-888-EXPERIAN (397-3742)
TransUnion: 1-800-680-7289
Once you position an initial fraud warning signal upon your credit report, you are entitled to order one unpaid credit report card from each of the consumer reporting companies; whenever you inquire, just the last four digits of your Social Security number will appear on your report card.
Whenever you have been a victim of personal identity theft, you could ask for an “extended” alert, which remains upon your credit report for seven years.
To have an expanded fraud alert put upon your report card, you will want to contact one of the credit agencies, and furnish a “personal identity theft report”, such as a police report or some other report to a law enforcement authority.
If your credit report card bears an extended warning signal, potential creditors must meet you personally, or by telephone or some other process you have furnished before they can issue credit in your name.
Once you place an extened warning signal upon your credit report card, you are eligible for two free credit report cards from each of the consumer accounting companies inside 12 calendar month.
Additionally, the consumer accounting companies must remove your name from marketing lists for pre-screened offerings of credit for five years – unless you ask them to place your name back on the list.
Credit Freezes -
A credit freeze allows you to restrict access to your credit report. Whenever you direct a block on your report card, potential creditors and certain other people or commercial enterprise can not obtain entree to it unless you repeal the block temporarily or for good. For additional information about credit blocks, check with your state attorney general’s office or visit on the net – naag.org.
Restraining admittance to your credit report card makes it harder for personal identity thieves to open new accounts in your name. That’s because nearly all creditors will ask to see a credit file before opening up a new account; whenever they can not check the file, they may not offer the credit.
The Facts -
A credit freeze might not prevent the abuse of your existing accounts or certain other types of personal identity theft.
A credit block is dissimilar from a initial and extended fraud warning signal in a number of ways. A freeze commonly blocks complete entree to your credit reports, while a fraud warning signal allows creditors to acquire your report as long as they adopt steps to affirm your personal identity.
The availability of a credit block counts on state law or a consumer reporting company’s policies; fraud alarms are federal rights designed for consumers who believe they might have been, or in reality have been, victims of personal identity theft. And a few states charge a fee for posting or withdrawing a freeze, although it is free to post or withdraw a initial and extended fraud alert.
Most states have got laws that allow for consumers to position a credit block with consumer reporting companies. In a lot of these states, any consumer may block their credit file; in others, only personal identity theft victims can block their files. The price of positioning a credit block and the lead times vary. In a lot of states, credit blocks are free for personal identity theft victims; other consumers commonly are billed about $10 per credit reporting company.
Contact your state attorney general for the details of your state’s freeze laws. To place a freeze, contact each of the nationwide consumer reporting companies because a credit block positioned at one company is not related to the other companies.
And be mindful that the three major credit reporting companies have begun extending credit blocks instantly to consumers – for a fee.
Irrespective of whether your state has a freeze law, placing a credit block does not impact your credit score, prevent you from acquiring your free annual credit report, or prevent you from purchasing your credit report card or score. It doesn’t forbid you from opening a brand-new account yourself, applying for a job, renting an apartment, or buying insurance, either.
In these situations, the business commonly asks to go over your credit report. You are able to ask the consumer reporting company to reverse your credit freeze temporarily, or withdraw it altogether. But the cost and lead time to reverse or remove a freeze vary, and so it is wise to check withyour state agencies or with a consumer reporting company in advance whenever possible.
Free Credit Reports -
Federal law affords all consumers the right to one free credit report from each nationwide consumer reporting company every 12 calendar month.
Staggering these reports – that is, obtaining a report from a different company every couple of months – may assist you in monitoring activity on your credit reports.
For additional information, or to request your complimentary credit reports, visit on the web annualcreditreport.com.
Identity Theft Protection Products And Services For Sale -
Personal identity theft protection companies offer a array of products and services for sale. Many permit you to “lock,” “flag,” or “block” your credit reports. Frequently, the companies advertising these services plainly are proposing to position a fraud warning signal or credit block upon your report. These services also could renew or update your alerting or blocks automatically.
Maurice
Recent headlines about information breaches and losses of individual information have prompted a lot of companies to advertise products or services to help consumers and prevent or minimize their risk of exposure from personal identity theft.
The Fed, says before you pay up for any personal identity theft prevention product or service, be sure you realize precisely what you are paying for. Many people find value and convenience in paying an outside company to assist them in exerting their rights and protecting their information. At the same time, a lot of rights and protections you possess under federal or state laws can assist you in protecting your identity and recover from personal identity theft at no cost.
Being knowledgeable of and understanding your rights may help you in determining whether – or which – commercial products or services may be best for you.
Fraud Alerts -
A fraud alert is a signal located in your credit report or reference file to warn potential creditors that they must exercise what the law calls “reasonable policies and procedures” to confirm your individual identity prior to issuance of credit in your name.
The Facts -
Opening brand-new deferred payment accounts in your name, may not forestall the misuse of your present accounts.
Under the Federal Fair Credit Reporting Act (FCRA), you might be eligible to two kinds of free fraud alerts:
Initial And Extended.
You might ask a consumer reporting company to put an “initial” fraud alarm on your credit report whenever you surmise you’ve been, or are just about to be, a victim of personal identity theft. This might be advantageous after your pocketbook or some other source of individual data is misplaced or taken.
An initial fraud alarm is beneficial for 90 days, and may be renewed when necessary.
To place an initial fraud alarm, phone the toll-free fraud number of any one of the three national consumer reporting companies. The company you call is compelled to contact the other two; they, successively, will place a warning signal on their editions of your report. Get a number verification from each one of the companies.
Equifax: 1-800-525-6285
Experian: 1-888-EXPERIAN (397-3742)
TransUnion: 1-800-680-7289
Once you position an initial fraud warning signal upon your credit report, you are entitled to order one unpaid credit report card from each of the consumer reporting companies; whenever you inquire, just the last four digits of your Social Security number will appear on your report card.
Whenever you have been a victim of personal identity theft, you could ask for an “extended” alert, which remains upon your credit report for seven years.
To have an expanded fraud alert put upon your report card, you will want to contact one of the credit agencies, and furnish a “personal identity theft report”, such as a police report or some other report to a law enforcement authority.
If your credit report card bears an extended warning signal, potential creditors must meet you personally, or by telephone or some other process you have furnished before they can issue credit in your name.
Once you place an extened warning signal upon your credit report card, you are eligible for two free credit report cards from each of the consumer accounting companies inside 12 calendar month.
Additionally, the consumer accounting companies must remove your name from marketing lists for pre-screened offerings of credit for five years – unless you ask them to place your name back on the list.
Credit Freezes -
A credit freeze allows you to restrict access to your credit report. Whenever you direct a block on your report card, potential creditors and certain other people or commercial enterprise can not obtain entree to it unless you repeal the block temporarily or for good. For additional information about credit blocks, check with your state attorney general’s office or visit on the net – naag.org.
Restraining admittance to your credit report card makes it harder for personal identity thieves to open new accounts in your name. That’s because nearly all creditors will ask to see a credit file before opening up a new account; whenever they can not check the file, they may not offer the credit.
The Facts -
A credit freeze might not prevent the abuse of your existing accounts or certain other types of personal identity theft.
A credit block is dissimilar from a initial and extended fraud warning signal in a number of ways. A freeze commonly blocks complete entree to your credit reports, while a fraud warning signal allows creditors to acquire your report as long as they adopt steps to affirm your personal identity.
The availability of a credit block counts on state law or a consumer reporting company’s policies; fraud alarms are federal rights designed for consumers who believe they might have been, or in reality have been, victims of personal identity theft. And a few states charge a fee for posting or withdrawing a freeze, although it is free to post or withdraw a initial and extended fraud alert.
Most states have got laws that allow for consumers to position a credit block with consumer reporting companies. In a lot of these states, any consumer may block their credit file; in others, only personal identity theft victims can block their files. The price of positioning a credit block and the lead times vary. In a lot of states, credit blocks are free for personal identity theft victims; other consumers commonly are billed about $10 per credit reporting company.
Contact your state attorney general for the details of your state’s freeze laws. To place a freeze, contact each of the nationwide consumer reporting companies because a credit block positioned at one company is not related to the other companies.
And be mindful that the three major credit reporting companies have begun extending credit blocks instantly to consumers – for a fee.
Irrespective of whether your state has a freeze law, placing a credit block does not impact your credit score, prevent you from acquiring your free annual credit report, or prevent you from purchasing your credit report card or score. It doesn’t forbid you from opening a brand-new account yourself, applying for a job, renting an apartment, or buying insurance, either.
In these situations, the business commonly asks to go over your credit report. You are able to ask the consumer reporting company to reverse your credit freeze temporarily, or withdraw it altogether. But the cost and lead time to reverse or remove a freeze vary, and so it is wise to check withyour state agencies or with a consumer reporting company in advance whenever possible.
Free Credit Reports -
Federal law affords all consumers the right to one free credit report from each nationwide consumer reporting company every 12 calendar month.
Staggering these reports – that is, obtaining a report from a different company every couple of months – may assist you in monitoring activity on your credit reports.
For additional information, or to request your complimentary credit reports, visit on the web annualcreditreport.com.
Identity Theft Protection Products And Services For Sale -
Personal identity theft protection companies offer a array of products and services for sale. Many permit you to “lock,” “flag,” or “block” your credit reports. Frequently, the companies advertising these services plainly are proposing to position a fraud warning signal or credit block upon your report. These services also could renew or update your alerting or blocks automatically.
Maurice
Feb
25
Federal Laws Against Identity Thefts – How Awareness Can Protect You
Filed Under Personal Injury | Leave a Comment
Abhishek Agarwal asked:
In the United States alone, this is the fastest growing crime. In 2002, the Federal Trade Commission or simply put the FTC reported 43 percent of the fraud complaints they received where for identity theft. With the 2003 report, the incidents reached close to 10 million.
For every five families, there is always one who will fall prey to these thieves. It is hard not to be a victim even when every precaution in the book has been taken. Even though it seems you have safe guarded your data, the thieves always manage to stay a step ahead.
Understand that everything you do leaves a trail. Whether you use your pin number, write a check, sign up for a credit card or even order something online, thieves, if they want, will get your information.
No matter how hard you try, there lurks the possibility that existing information can still find their way to the identity thieves. Be aware of this fact and cautious with whom you give your vital data out to. Knowing this tactic, can put you above those who just give out their information.
It has been estimated that people spend approximately $500 and more than 30 hours to resolve. Some cases begin from a credit getting stolen to a person’s identity being completely “kidnapped”. These crimes are hard to prevent. Because of this, identity theft is hard to correct.
Identity theft is considered a white collar crime. It is because the thieves get in touch with the person directly to steal the information by deception and lies. They will also try and get any money from them that they can.
This crime does not need face to face contact for the thief to steal your identity or your cash. The ID theft is not committed just for the sake of having it but rather using it for other criminal means including to commit fraud.
Until 1998, the federal law had not caught up with this type of crime. In fact, it wasn’t until that year, that cases of a bigger magnitude started to show up. It was then that people began to see they needed a heavier sentence imposed on those who committed the fraud in the first place.
Thanks to these numerous cases, the laws were changed so some of these could be used as prosecuting the thieves. Some were changed or enhanced to repair their credit reports or recoup their losses and reputations.
The primary identity theft statute is 18 U.S.C.
Chad
In the United States alone, this is the fastest growing crime. In 2002, the Federal Trade Commission or simply put the FTC reported 43 percent of the fraud complaints they received where for identity theft. With the 2003 report, the incidents reached close to 10 million.
For every five families, there is always one who will fall prey to these thieves. It is hard not to be a victim even when every precaution in the book has been taken. Even though it seems you have safe guarded your data, the thieves always manage to stay a step ahead.
Understand that everything you do leaves a trail. Whether you use your pin number, write a check, sign up for a credit card or even order something online, thieves, if they want, will get your information.
No matter how hard you try, there lurks the possibility that existing information can still find their way to the identity thieves. Be aware of this fact and cautious with whom you give your vital data out to. Knowing this tactic, can put you above those who just give out their information.
It has been estimated that people spend approximately $500 and more than 30 hours to resolve. Some cases begin from a credit getting stolen to a person’s identity being completely “kidnapped”. These crimes are hard to prevent. Because of this, identity theft is hard to correct.
Identity theft is considered a white collar crime. It is because the thieves get in touch with the person directly to steal the information by deception and lies. They will also try and get any money from them that they can.
This crime does not need face to face contact for the thief to steal your identity or your cash. The ID theft is not committed just for the sake of having it but rather using it for other criminal means including to commit fraud.
Until 1998, the federal law had not caught up with this type of crime. In fact, it wasn’t until that year, that cases of a bigger magnitude started to show up. It was then that people began to see they needed a heavier sentence imposed on those who committed the fraud in the first place.
Thanks to these numerous cases, the laws were changed so some of these could be used as prosecuting the thieves. Some were changed or enhanced to repair their credit reports or recoup their losses and reputations.
The primary identity theft statute is 18 U.S.C.
Chad
Feb
15
How to Get Identity Theft Protection
Filed Under Law | Leave a Comment
Phillip Braswell asked:
We hear about Identity Theft all the time because it’s the fastest growing crime today with about 10,000,000 victims annually. That is over 27,000 a day. Let’s see what it really is and why it’s important to have Identity Theft Protection.
Here are some definitions of Identity Theft: 1. A crime in which an impostor uses the name, social security number, and/or other identifying information of a victim to open credit accounts, use existing credit accounts, or otherwise acquire benefits using the victim’s identity. 2. A crime used to refer to fraud that involves someone pretending to be someone else in order to steal money or get other benefits. 3. The deliberate assumption of another person’s identity, usually to gain access to that person’s finances or to frame a person for a crime.
Each definition hits on at least one of the five areas of Identity Theft. Most think only of the Financial area, where someone gains access to your bank account or credit cards. Surprisingly, that happens only about 27% of the time. Thus the majority of Identity Theft cases occur in the other four areas, Driver’s License, Social Security, Medical and Character or Criminal Identity.
People whose identities have been stolen often spend months or years and thousands of dollars cleaning up the mess that thieves have made of their good name and credit record. One lady wrote a letter to the editor and reported that she became an Identity Theft victim when some mail was stolen from her box. She admitted that it took her four years to get her life back.
If you were a victim, would you know where to begin to clean up the mess? Would you have the time to do it? There is a SOLUTION.
Why not get the leading risk management company in the world to go to work for you and your family? They will take over and do most of the work for you and stay with you until your name and credit is restored to its original condition.
You, your spouse and children can have the best Identity Theft Protection on the market today. Many times, Identity Theft victims also have legal questions and issues. Legal Aid is available too. Get real value and peace of mind with Family Coverage for Legal and Identity Theft issues for less than $1 a day.
Find out how to protect you and your family: http://www.phillipbraswell.com/identity-theft/identity-theft-protection/
Rachel
We hear about Identity Theft all the time because it’s the fastest growing crime today with about 10,000,000 victims annually. That is over 27,000 a day. Let’s see what it really is and why it’s important to have Identity Theft Protection.
Here are some definitions of Identity Theft: 1. A crime in which an impostor uses the name, social security number, and/or other identifying information of a victim to open credit accounts, use existing credit accounts, or otherwise acquire benefits using the victim’s identity. 2. A crime used to refer to fraud that involves someone pretending to be someone else in order to steal money or get other benefits. 3. The deliberate assumption of another person’s identity, usually to gain access to that person’s finances or to frame a person for a crime.
Each definition hits on at least one of the five areas of Identity Theft. Most think only of the Financial area, where someone gains access to your bank account or credit cards. Surprisingly, that happens only about 27% of the time. Thus the majority of Identity Theft cases occur in the other four areas, Driver’s License, Social Security, Medical and Character or Criminal Identity.
People whose identities have been stolen often spend months or years and thousands of dollars cleaning up the mess that thieves have made of their good name and credit record. One lady wrote a letter to the editor and reported that she became an Identity Theft victim when some mail was stolen from her box. She admitted that it took her four years to get her life back.
If you were a victim, would you know where to begin to clean up the mess? Would you have the time to do it? There is a SOLUTION.
Why not get the leading risk management company in the world to go to work for you and your family? They will take over and do most of the work for you and stay with you until your name and credit is restored to its original condition.
You, your spouse and children can have the best Identity Theft Protection on the market today. Many times, Identity Theft victims also have legal questions and issues. Legal Aid is available too. Get real value and peace of mind with Family Coverage for Legal and Identity Theft issues for less than $1 a day.
Find out how to protect you and your family: http://www.phillipbraswell.com/identity-theft/identity-theft-protection/
Rachel
Feb
11
Identity Theft in your Mail Box? Free Tips on How to Stop Junk Mail and Credit Card Offers for Good
Filed Under Finance | Leave a Comment
Ron P. Butterfield asked:
There are literally thousands of methods idetnity theives enlist to stealing vital personal information from consumers and small business owners. “Phishing” scams sent via email, shoulder surfing at ATM machines, fraudulant telemarketing calls, public records acess through local government agancies, identity theft at the workplace: the list goes on and on. Suprisingly, it doesn’t always take someone who is technologically proficient to get their hands on your social security number, credit card information or home address. The chain of theivery commonly starts with a method that existed long before the internet, email, telemarketing or ATM’s: the dreaded “Junk Mail List”.
Dumpster diving identity theives and computer hackers represent only a small fraction of the faceless armies constantly working to ruin your financial identity. Contrary to popular belief, junk mail, specifically credit card offers, are typically the culprit. In fact, every credit card offer you recieve is an invitation to have your identity stolen, and your credit ruined. These “mail box maruaders” are probably the most brazen identity theives, right up there with common burglar. Stealing mail directly from your mailbox is by far the riskiest method, which leaves the potential of being identitfied from eyewitnesses. Never the less, it does in fact occur and is a federal offence.
Once your financial information has been obtained, the two of the most common methods for setting up shop with your good name are “application fraud” and “account takeover”.
“Application fraud”, or “real name fraud” usually leaves identity victims unaware of fraudulent abuse of their personal information for long periods of time. This is due to the fact that the credit card statements are mailed directly to a forwarding address set up by the imposter. Another factor that leaves victims unaware is the time lag between the fraudulent transactions themselves and when they are reported to credit bureaus, such as Transunion, Experian and Equifax. This leaves a “time gap” for ID thieves to do as much damage as possible before it is detected, even if your regularly check your credit reports. All these criminals may need to commit application fraud is a utility bill or bank statement, authentic or counterfeit, to piece together a complete application. This is a methodical and effective form of identity theft.
Conversely, “account takeover” can happen almost intantaniously. This occurs when containing key personal information allows ID theives to actually takeover the running of your existing account. They will actually pretend to be you, making transactions and purchases as they see fit. To compound this problem further, these criminals may instruct your bank or credit card company to change you home address in the account and have cards and checks sent to another address. Once again this buys valuable time for these imposters to be detected and stopped.
So far as online purchases go, many online merchants have added an extra precaution to stave off fraudulent account activity with the CCV number. This is a three digit number on the back you credit card next to the signature box. Providing this number makes the assumption that your credit card is physically in front of you. Once again, if new cards have been ordered in your name unbeknownst to you, this safe-guard is rendered ineffective. You may only find out it has occurred when purchasing groceries or fuel for your car and having you credit or debit card declined. A rude awakening indeed.
Needless to say, the most effective way to avoid this finacial nightmare is to prevent it from happening in the first place. Though ID theft is growing problem for consumers and small businesse alike, it is not an inevitable part of modern life. Hence the old saying, “an ounce of prevention is worth a a pound of cure”. And that ounce of prevention begins right at home, in your mailbox.
Over 4 million tons of paper “junk mail” are mailed in the U.S. every year, and 50% of it is never even opened. These are staggering stastistics and only grows as time goes by. Here are several tips and tricks to drastically reducing or eliminatiing bulk mail and credit card offers, thus aiding in the prevention of identity theft.
Credit Card Offers- The major credit agencies all sell credit information to the highest bidder. Direct mail and credit companies generate mailing lists based on certain demographic information including you zip code, annual income and general credit history. Stopping these types of offers are usefull in preventing identity theft for two reasons: First, it narrows down and seperates the “legitimate” offers from potentially fraudulent offers.
Second, it simply cuts down on the amount of mail you recieve, thus reducing the potential for information to be physically stolen from your mailbox.
Simply contact the three of the major cedit bureaus, Equifax, Trans Union, Experian and Innovis with your current address former address within two years, and social security number. Request to be “opted out” of these mailing lists. These requests will be granted immediately as required by law.
First Class Mail- This is a sneaky tactic used sometimes to make a credit card offer seem exclusive or more appealing. After you recieve one of the first class offers, simply cross out the address and bar code, circle the first class postage and write exactly this: refused: return to sender. Mail it in any mail box and it will be returned directly to the sender.
Bulk Mail in General- Your local post office will always dispose of bulk mail it cannot be delived, so “returning to sender” does absolutely no good. The USPS actively provides for bulk mailers to accumulate their mailing lists. As hard as it is to belive, they actually encourage it. Simply write “address correction requested” circle it, and drop it in any the mail box.
If Bulk Mailing persists, simply send a letter or postcard to the Mail Preference Service,
There address is: Direct Marketing Association, PO Box 643, Carmel, NY 15012-0643
Be sure to include your full name, current address, zip code and request to “activate the preference service”. This will stop mail from all of it’s member ogrganizations for up to five years.
A Secure Mail Box- Obvouisly, this is probably the simplest method protect mail from being stolen out of your mail box. Don’t be afraid to buy a lock for your mail box. Get to know your neighborhood delivery schedule and your mail carrier.
Your home is the front line in the ongoing battle against identity theft, pure and simple.
Ruby
There are literally thousands of methods idetnity theives enlist to stealing vital personal information from consumers and small business owners. “Phishing” scams sent via email, shoulder surfing at ATM machines, fraudulant telemarketing calls, public records acess through local government agancies, identity theft at the workplace: the list goes on and on. Suprisingly, it doesn’t always take someone who is technologically proficient to get their hands on your social security number, credit card information or home address. The chain of theivery commonly starts with a method that existed long before the internet, email, telemarketing or ATM’s: the dreaded “Junk Mail List”.
Dumpster diving identity theives and computer hackers represent only a small fraction of the faceless armies constantly working to ruin your financial identity. Contrary to popular belief, junk mail, specifically credit card offers, are typically the culprit. In fact, every credit card offer you recieve is an invitation to have your identity stolen, and your credit ruined. These “mail box maruaders” are probably the most brazen identity theives, right up there with common burglar. Stealing mail directly from your mailbox is by far the riskiest method, which leaves the potential of being identitfied from eyewitnesses. Never the less, it does in fact occur and is a federal offence.
Once your financial information has been obtained, the two of the most common methods for setting up shop with your good name are “application fraud” and “account takeover”.
“Application fraud”, or “real name fraud” usually leaves identity victims unaware of fraudulent abuse of their personal information for long periods of time. This is due to the fact that the credit card statements are mailed directly to a forwarding address set up by the imposter. Another factor that leaves victims unaware is the time lag between the fraudulent transactions themselves and when they are reported to credit bureaus, such as Transunion, Experian and Equifax. This leaves a “time gap” for ID thieves to do as much damage as possible before it is detected, even if your regularly check your credit reports. All these criminals may need to commit application fraud is a utility bill or bank statement, authentic or counterfeit, to piece together a complete application. This is a methodical and effective form of identity theft.
Conversely, “account takeover” can happen almost intantaniously. This occurs when containing key personal information allows ID theives to actually takeover the running of your existing account. They will actually pretend to be you, making transactions and purchases as they see fit. To compound this problem further, these criminals may instruct your bank or credit card company to change you home address in the account and have cards and checks sent to another address. Once again this buys valuable time for these imposters to be detected and stopped.
So far as online purchases go, many online merchants have added an extra precaution to stave off fraudulent account activity with the CCV number. This is a three digit number on the back you credit card next to the signature box. Providing this number makes the assumption that your credit card is physically in front of you. Once again, if new cards have been ordered in your name unbeknownst to you, this safe-guard is rendered ineffective. You may only find out it has occurred when purchasing groceries or fuel for your car and having you credit or debit card declined. A rude awakening indeed.
Needless to say, the most effective way to avoid this finacial nightmare is to prevent it from happening in the first place. Though ID theft is growing problem for consumers and small businesse alike, it is not an inevitable part of modern life. Hence the old saying, “an ounce of prevention is worth a a pound of cure”. And that ounce of prevention begins right at home, in your mailbox.
Over 4 million tons of paper “junk mail” are mailed in the U.S. every year, and 50% of it is never even opened. These are staggering stastistics and only grows as time goes by. Here are several tips and tricks to drastically reducing or eliminatiing bulk mail and credit card offers, thus aiding in the prevention of identity theft.
Credit Card Offers- The major credit agencies all sell credit information to the highest bidder. Direct mail and credit companies generate mailing lists based on certain demographic information including you zip code, annual income and general credit history. Stopping these types of offers are usefull in preventing identity theft for two reasons: First, it narrows down and seperates the “legitimate” offers from potentially fraudulent offers.
Second, it simply cuts down on the amount of mail you recieve, thus reducing the potential for information to be physically stolen from your mailbox.
Simply contact the three of the major cedit bureaus, Equifax, Trans Union, Experian and Innovis with your current address former address within two years, and social security number. Request to be “opted out” of these mailing lists. These requests will be granted immediately as required by law.
First Class Mail- This is a sneaky tactic used sometimes to make a credit card offer seem exclusive or more appealing. After you recieve one of the first class offers, simply cross out the address and bar code, circle the first class postage and write exactly this: refused: return to sender. Mail it in any mail box and it will be returned directly to the sender.
Bulk Mail in General- Your local post office will always dispose of bulk mail it cannot be delived, so “returning to sender” does absolutely no good. The USPS actively provides for bulk mailers to accumulate their mailing lists. As hard as it is to belive, they actually encourage it. Simply write “address correction requested” circle it, and drop it in any the mail box.
If Bulk Mailing persists, simply send a letter or postcard to the Mail Preference Service,
There address is: Direct Marketing Association, PO Box 643, Carmel, NY 15012-0643
Be sure to include your full name, current address, zip code and request to “activate the preference service”. This will stop mail from all of it’s member ogrganizations for up to five years.
A Secure Mail Box- Obvouisly, this is probably the simplest method protect mail from being stolen out of your mail box. Don’t be afraid to buy a lock for your mail box. Get to know your neighborhood delivery schedule and your mail carrier.
Your home is the front line in the ongoing battle against identity theft, pure and simple.
Ruby