id theft fraud prevention

Ronald Hudkins asked:


According to the Federal trade Commission there was an estimated half million children who joined the ranks last year with the unfortunate distinction of becoming victims of identity theft. An advocacy group called the Identity Theft Resource Center identifies relatives as being involved in more than half of the child identity theft cases reported in the United States in year 2006.

It should be noted however, the thief is not always someone who knows the child. It is suspected by this resource center that identity theft of children is increasing so rapidly precisely because kids are such good targets. They further believe children are victimized because they usually have a spotless record and because they aren’t using their credit and as such; the crime can go undetected for years.

Now that most infants by law have social security numbers, thieves have discovered they may be the easiest targets of all. Thieves have years to manipulate these identities and create a considerable amount of damage. Infants and children remain lucrative targets because they typically don’t use their social security numbers until their late teens and discover the theft problem upon applying for a first job, a student loan or a credit card. When families and their children finally find out, the burden of proof falls on them.

Some of the most common tactics of identity theft (but not limited to) include parents using their children’s’ Social Security numbers to open up new credit accounts, and “dumpster diving” thieves stealing credit offers mistakenly sent to children too young to make use of the application themselves.

Helen Simmonds, a detective in a local police department, has been handling identity theft investigations. It was noted that almost all involved Social Security numbers issued in the early 1990s to children who are now turning 16, 17 and 18, and trying to obtain credit for the first time. It is believed by the investigator that there is going to be an epidemic [of such cases] not just locally but; across the nation.

It then should come of no surprise that credit-monitoring services are beginning to target concerned parents, offering to monitor children’s identities. At LifeLock, credit monitoring for your child costs only $25 annually in addition to a $10 monthly charge for adults. LifeLock also takes actions to basically audit the Social Security Administration annually on the child’s behalf to find out if there’s been any work history related to the child’s identity number.

A spokesperson for the SSA advises that parents can simply call their local Social Security office and get that information free of charge. However as a concerned consumer and parent you need to know; if thief is using your child’s Social Security number, but with a different name then your child’s, the SSA will not find a matching record for your offspring.

One of the major credit reporting agencies: Experian – recently launched FamilySecure monitoring service which alerts parents as soon as anyone applies for credit using their child’s name. However, at $19.95 a month, the cost might be a bit cumbersome to many family budgets.

Parents that remember or have the time whom want to contact the three Credit Bureaus to determine if there is any activity on their children’s credit can use the following contact Information and procedures;

Experian Call 1-888-379-3792, select the Fraud option. Parents have to mail in documentation, including proof that they are the parent or legal guardian for the child, such as a birth certificate for the child and driver’s license for the parent. If the child does not have a credit file, Experian will notify the parents in writing. If a credit file exists, Experian will provide a copy to the parent so they can dispute any fraudulent information. The bureau will attach a notice on the file that it belongs to a minor, to prevent lenders from issuing credit in the future.

For Equifax Mail a request to: Equifax Information Services, P.O. Box 105139, Atlanta, GA 30348. Attach documentation identifying you as the child’s parent (see above). If a credit record exists, Equifax will delete any fraudulent accounts, take the report offline and flag the Social Security number as one belonging to a minor. Parents cannot receive a copy of the fraudulent report.

Actions for TransUnion require a parent to Email childidtheft@transunion.com TransUnion will email back instructions on requesting a file. If one exists, the bureau will lock the file until the child turns 18, so his or her information cannot be used to obtain credit.

TIPS for ID Theft Prevention:

Don’t give out personal information: never reveal anything about yourself unless you initiate the contact or if you request a phone number that you may call back to authenticate the representation being made (do not give out your Social Security number, phone number, date of birth, or credit card numbers or carry your Social Security Card).

Watch your mail: make sure you collect it right after it is delivered if it is out in the open and accessible to others.

Shred important documents: SSN, credit card numbers, driver’s license numbers, date of birth and pre-approved credit offers (you can stop these by going to.

Pay attention to your billing cycle: missing bills could indicate theft.

Use reputable and secured websites: always use a secure browser, when paying online check to make sure it’s secure (https: instead of http: identifies a secured server that encrypts the information you submit).

Protect your PC: protect against viruses and spyware, use a firewall, and don’t download attachments from people you do not know.

Do not carry your Social Security card or that of you children’s in your wallet, purse or automobile. Secure the cards in a safe place when not specifically needed.

There are services that charge for protective and proactive identity measures to safeguard the good name and credit of adults and minor children. If you do not have the time or expertise to put needed safeguards in place make room in the budget for the available experts.

Thief’s have the time and ability to steal and ruin your identity. Don’t think for a minute it can’t happen to you or your family members because millions of others were just as confident and lost.



Lydia

Josiah Walter asked:


Identity thief is a very serious crime since it involves the stealing of someone else’s identity and using the said robbed identity in committing fraud crimes or other related crimes. The problem with identity theft is that you can never really be sure when it will hit you.

You might wake up one day with police running after you for some crimes that you have not committed.  Or worst you might lose everything that you have worked hard for because somebody else posing as you has sold or withdrawn all of your money in the bank.

Being a victim of identity theft is one of the worst things that could ever happen to someone. However there are certain steps that you can take in order to minimize your risk of becoming a victim of identity theft and here are some of them:

1.  If you suspect that someone is using your identity to commit fraud crimes you must contact as soon as possible the fraud departments of the consumer reporting companies in order for them to place a fraud alert on your credit report.

The fraud alert will warn creditors to contact you whenever an account is opened using your name or if ever there are some changes that are to be made on your accounts.  There are actually two types of fraud alerts—these are your initial alert and your extended alert.

The difference between these two fraud alerts is in terms of their duration. The initial alert usually last for ninety days on your credit report while the extended fraud alert stays much longer and last for as long as seven years. You can choose between these two frauds alerts the best one that you think will provide you with a better protection. Plus you only have to contact only one of the consumers reporting companies since it will simply relay to the other two the fraud alert.

2.  It will also help if you close the accounts that have been tampered with or fraudulently opened in your name. You can use the ID Theft Affidavit when you want to question new unauthorized accounts that are opened in your name.

3.  Don’t forget to file a report or complain with the local police in your community where the identity theft occurs. And always try to obtain a copy of the report which you are to provide your creditors and others that might be in need of any proof of the crime.

4.  Similarly don’t forget to file a complaint with the Federal Trade Commission. The commission keeps a database of all identity theft cases used and filed by law enforcement agencies for investigations. By filing a complaint to the proper authority will help you to understand better all issues regarding identity theft.

Likewise, you will also know the problems that most victims faced and you will also be guided on the proper steps on how to avoid becoming a victim of identity theft. So always be extra careful especially when divulging personal information especially when using online services since this is where most identity thieves get their information.

No one is safe from identity theft. Anyone can be a victim so be sure to be extra careful especially in divulging information about yourself. The internet is one of the means by which identity thieves get hold of other people’s personal information so be very careful in transacting business online. Make sure that you are dealing with a legitimate company and in filling up some online forms be sure to divulge only information that is required of you. Refrain from giving extra information about yourself.

Likewise, refrain from answering unsolicited emails that ask for your information since most identity thieves also disguises themselves as representatives of some legitimate business online in order to lure you into giving them your personal information.

Don’t be deceived by those lottery emails saying that you have won something and would require you to fill up some forms asking for personal information. Don’t be carried away by the promised price, it would be better for you to confirm with the company whether they have sent you an email or not. And if ever they deny it then make sure that report the fraudulent email that you receive to the Federal Trade Commission so that they can give out warnings to other consumers of the circulating fraudulent email.



Michele

John Goldman asked:


Identity theft crimes continue to grow as a huge problem throughout the world taking millions of victims under its influence. There were billions of losses incurred by identity theft victims just in the United States during the 2006 financial year and the instances for this crime from across the world are increasing every year.

Most of the people even don’t realize that their identity has been stolen until they witness a major incident in either their financial records or their personal status. The majority of identity thefts are for financial reasons but there are also criminal and medical identity thefts.

About identity theft

The criminals who engage in these identity theft activities today make use of highly advanced equipments in order to easily steal people’s identities. Some of the most common methods include hacking into database, phishing and also by the use of malware and spyware.

However this is also combined by some traditional methods such as shoulder surfing, credit card thefts, rummaging through trash bins and by snatching wallets and handbags to be successful in stealing your personal and financial data. Despite this, there are some easy ways to stop identity theft and most of them are simple to undertake on your daily chore. These steps have been effective in stopping id theft criminals from accessing your data and causing you both emotional and financial distress.

1. Be careful of shoulder surfers

When you are providing crucial credit card information or typing passwords online make sure you are cautious of those spying over your shoulder. You should also be careful when sharing information through the phone by keeping your voice level lower.

2. Shred disposable data

Whether they are papers or digital data you should be very careful when disposing them. It should be done in such a way that all your important information about your identity and your financial data is not available to anyone searching through your trash. There are several cases where criminals scan through the recycle bin and computer hard disk for information which you might have left when selling your computer. Therefore be careful to shred all the documents and completely remove all your personal records from the system.

3. Keep computer hacker proof

This means you can use intricate passwords, firewalls, anti hacking software applications and several other programs to prevent hackers gaining access to your sensitive data stored in the computer. Your computer operating system must also be updated frequently to prevent any technical loopholes for the hackers to benefit from. Make sure to check any authenticity of websites.

4. Protect your ID and social security number

Your photo ID and social security number are the most important pieces of data any individual can have. Therefore you should keep a track of who you are providing the number to and also keep a record of the purpose it is provided. Even if you get a hint of the information being compromised, you should instantly report it to the local police and the concerned authorities.

5. Analyze bill statements and credit card information

Make sure you check all your transaction records every year in your credit accounts. Your bill statements must be guarded against all the frauds which are used on a regular basis and carefully check your credit card information and credit reports.  



Peggy

Josiah Walter asked:


It was already late at night and you were walking down the street alone. The wind is blowing briskly through the tall buildings you are passing by. Then, a person appears, out of nowhere. He/she proceeded to run by you and knocking you over, made a grab for your wallet and disappeared through a corner.

It could be a scene from a movie, only it happened! However, this type of stealing, person-to-person, may well exists in movies exclusively for the next years to come.

Why, you may ask.

Nowadays, thieves no longer care to rob a person, bank or any other establishment because they just use an individual’s information to obtain employment, credit and bank accounts and other means of obtaining money or credit

Such activity that has now alarmingly reached millions of victims in United States and Canada is known as Identity theft. It has shown up in news reports for the past several years. Campaigns and laws have been passed all to combat it and build up public awareness.

Last September 2003, the FTC reported that identity theft victims suffer terribly from the said crime. They spend more than $1,400.00, and 200 hours to clear up their personal and financial reputation.

Once identity theft crime becomes more flagrant, victims may have to spend more than this, and not only in terms of time and money. They may end up spending more in terms of frustration.

If you do not have money to spend, or rather, waste just to pay for being a victim of identity theft, then you must know the exact definitions of identity theft, how it works and how you can become a victim. By knowing and defining identity theft to other people, too, they will come up with more ways to combat against it.

Identity theft or ID theft this insidious crime of obtaining and using another individual’s personal data. By personal data it means, the name, address, telephone number, phone card or credit card and Social security number. This act is done without the knowledge of the victim and is usually followed by a criminal act.

The criminal acts of an identity thief may range from committing financial fraud using the personal information. Indeed, identity theft is done by someone, pretending to be another and purchases products using that person’s credit account, obtaining money from bank accounts and ordering goods and services using another’s credit name.

The victim of identity theft is usually left with the bill for the purchased/ordered goods and services. Sometimes, victims are surprised when they find out that they are application for loans were denied because without their knowledge, they have accumulated too many loans because of the handiwork of an identity thief.

Stealing people’s identity is a serious crime. The frauds and deceptions being done using another individual’s identity is another unlawful act. Once identity thieves steal other people’s identity they usually do the following:

-  make purchases or order goods without the intention to pay

-  apply for credit

-  open bank accounts

-  apply for loans

-  apply for government benefits

-  obtain cable or utility services using the another person’s (victim) name

-  forge checks or bank drafts

-  use victim’s accounts to obtain money through wire transfers using the victim’s accounts

-  and other similar acts of fraud.

Individuals are not the only targets of identity theft.  They also target business establishments, especially those medium and small limited businesses. Businesses can also be the targets of identity theft.

Corporate identity theft happens when an individual applies for credit or buys goods under the pretense of being a company director of a certain company. Beforehand, they con the government agencies concerned with registering business companies. They file for change of names and address.

They use the said address to direct suppliers of goods they bought, when the bill arrives, they have long disappeared. The company, then suffer the brunt of such criminal acts.

Aside from people with good and well-established credit reports, identity theft also victimizes those without much credit. Sometimes they stead college students’ identities to set up fake credit accounts.

Presently, many efforts are being done in order that people be aware of identity theft. There are also federal laws passed that already define identity theft as a serious criminal act instead of just a fraudulent activity. This is a big step in the fight against rampant identity theft.

Individuals must be proactive so as not to become a victim of identity theft. We must be doubly sure that all our personal documents and information are protected and are not passed on into wrong hands.

Avoid being a victim of identity theft, beware and be cautious!



Bernard

John Goldman asked:


Identity theft is one of the fastest growing crimes in the United States of America and the basic reason for this is that it is easy and does not require someone break through the doors to walk off with goods. They can actually get them even out of your trash box.

However according to the American postal service, one major reason is carelessness of people on how they handle their sensitive documents. In this case one of the best investments you can make for your office and home is a quality paper shredder.

What you should know about identity theft

There are some people who entire live by looking out for a copy of someone’s un-trashed tax return of any documents, credit card bills and bank statements that have sensitive account numbers. Therefore it is time you educate yourself about the dangers of identity theft and provide yourself with some great facts and solutions. If you have ever found someone who has their identity stolen then you know what they are probably going through.

The statistics

During the last year there were nearly 9 million Americans who were victims of identity theft and around five billion dollar in the crime wave being reported. Furthermore, the number of identity theft victims ad the losses they have faced are probably much higher then you can imagine. It is quite hard to point out, as the law enforcement organizations might categorize id theft differently.

This can also include internet fraud, credit cad fraud or mail theft including other crimes. This can also include  your credit report because when it is ordered, unless  you personally request there would only be four digits listed while the remaining number can easily be stolen without proper care. You should know that the credit report includes a number of social security numbers on all the pages.

The federal trade commission reports that just four percent of victims cited had stolen mails with an attempt to steal personal information. Additionally the postal inspector of US was charged with protecting the mail system of the nation from criminal misuse which are actually leaders in the nation’s fight against id theft.

What to do if you are victim

If you happen to be a victim of identity theft there are 4 steps that you should take immediately to keep a record with clear details of your copies and conversations of all the correspondence. You should immediately place a fraud alert over your credit reports and review credit reports. These fraud alerts help prevent the identity theft from gaining access to most of your accounts. The other best way is to let identity theft protection services protect your personal and professional data from being stolen.

These services can prove to be beneficial as almost every individual in the United States has locked down their sensitive data with the help of these services. Beware that, identity theft in USA is still growing with several reported cases appearing almost everyday and so take steps immediately to secure your date and prevent huge financial losses.  



Virginia

Glyn Norman asked:


In the marketplace for ID Theft Protection, three companies are taking the lead. Invisus Direct, Wells Fargo and PrePaid Legal/Kroll, Inc. On the surface, all three companies seem to offer an almost identical product, but beneath the surface, significant differences emerge.

Invisus Direct primarily offers protection against online ID theft, through securing your computer with software which protects you from such predators, and insures you against ID Theft even if it happens in the offline world. If you already have strong PC protection from another software vendor, like McAfee or Norton, or you own a Mac, you may not need the protection that Invisus offers for around $14.99 per month, per computer.

Wells Fargo offers ID Theft protection, with $10,000 in ID Theft insurance to cover the costs of restoring your identity if it is stolen. Like Invisus, the usual suspects are monitored, such as your credit reports etc.

PrePaid Legal/Kroll, Inc. offers ID Theft protection that monitors your credit report, the use of your Drivers’ License #, your medical records, and your Social Security #. The subscription costs $12.95 per month, but here is where PrePaid Legal/Kroll, Inc., differs from the other two programs.

With Invisus and Wells Fargo, if your identity is stolen, they provide you with a do-it-yourself pack, which contains form letters that you have to send to every financial organization with whom you have dealings, explaining the theft and attempting to remedy the situation. On average, the amount of time this takes is 600 hours. PrePaid Legal/Kroll have a different solution. You sign over a Limited Power of Attorney to them, and THEY spend the 600 hours sorting out the mess.

From my perspective, this tips the balance in favor of PrePaid Legal/Kroll, Inc., though if computer security is your primary concern, you might also consider Invisus.



Constance

Keith Londrie asked:


Attorney General John Ashcroft called identity theft as “one of the fastest growing crimes in the United States”. Federal Trade Commission (FTC), the leading governmental agency which keeps records on identity theft, estimates that over 9 million Americans (or 4.25% of all adults) are victims of ID theft on an annual basis, resulting in $52.6 billion losses to businesses and financial institutions. Even the 9/11 or September 11th hijackers were believed to have been identity thieves, using stolen passports and Social Security numbers to obscure their trail. Beyond doubt, identity theft crimes have reached epidemic proportions with subsequent catastrophic consequences.

Identity theft crimes are not new, but they have become more persuasive in the past decade. Advances in computer hardware and software along with the growth of the Internet have significantly increased the role that identity theft plays in crime. Individuals can hire credit-monitoring services that alert them when there are changes in their credit report. One such company, Pre-Paid Legal Services, Inc. in conjunction with Kroll, Inc. has developed a unique solution for victims of identity theft. This service referred to as the “Identity Theft Shield” is available to Pre-Paid Legal Services members. With the Identity Theft Shield, you have the added security of knowing that experienced professionals from the world’s leading risk consulting company are there to fight for you.

To prevent identity fraud, experts recommend that you review your credit report regularly. The ID Theft Shield makes this task easier. You receive prompt notices if any new accounts are opened in your name or if derogatory notations are added to your credit report. On an average, ID theft victims spend more than 250 hours and $2000 to clear their names. With Identity Theft Shield available at just $9.95/month, the cost of combating ID fraud crimes is much less. This monthly fee provides benefits to you, the member, and your spouse. At this cost, it is well worth the time and money to keep your affairs private.

Truly, Identity Theft Shield is the most factual and comprehensive solution to ID theft restoration. However, at times, even the best backup plans Fail. Therefore, you must learn to depend on yourself to set up your own identity theft shield and minimize your risk. Some things to do would be to shred all paperwork with important account information on it, don’t just throw it away in the trash because one of the simplest methods of Identity theft is for the theif to go through trash cans and dumpsters. Memorize pin numbers, do not carry them with your credit cards; Just to mention a couple thoughts.



Gloria