November 30, 2010
ID Theft Protection – Ways to Prevent Identity Theft
David Kamau asked:
Identity theft, or simply ID theft, is the fastest growing crime in America. The reason is simple; it pays and often the criminals off with light sentences. This article offers ways to prevent identity theft.
You should also know that that there are different forms of identity theft. Some of these are as follows:
1. Full identity theft: someone steals your data and then goes on to live as you. He/she will pose or disguise his/herself as you, obtain an identification documents and then clean you out – that is bank account, credit lines etc.
2. Credit hijacking: The thief will simply use your name and good credit to open new credit lines and then go on spending sprees, of course, without paying the bills. You only realize when you either get denied credit, get a call from your bank or some other bank or creditor, or receive a bill you have no idea about.
3. Synthetic identity theft: This involves using bits and pieces of personal information from several victims to create a whole new identity. This is perhaps the most difficult form of ID theft to detect.
There are the obvious precautions anyone can take and often offered as preventive ways. These will probably stop a petty thief, but the modern ID thief is much more sophisticated.
These mundane identity theft prevention ways include advice such as “shred your documents”, “don’t carry your social security card in your wallet”, and “don’t throw documents in the trash” and the like. Good measures, but the sophisticated thief would laugh at these.
You can stop most ID thieves on their tracks by placing a fraud alert on your credit file with the three major credit bureaus. Unlike credit monitoring, which alerts you after the fact, with a fraud alert you get contacted before any new credit lines are opened.
A fraud alert is only good for three months. After three months, you have to renew it, which the bureaus are not enthusiastic to do as they make money by selling your information to third parties for marketing purposes (which they cannot do if you have a fraud alert on your file).
You should also invest in a good antivirus and spyware remover for your computer. Keystroke loggers can get downloaded into your system, without you realizing it. Keystroke loggers track everything typed into a computer and then report back to the scammer via the Internet.
Hector
Identity theft, or simply ID theft, is the fastest growing crime in America. The reason is simple; it pays and often the criminals off with light sentences. This article offers ways to prevent identity theft.
You should also know that that there are different forms of identity theft. Some of these are as follows:
1. Full identity theft: someone steals your data and then goes on to live as you. He/she will pose or disguise his/herself as you, obtain an identification documents and then clean you out – that is bank account, credit lines etc.
2. Credit hijacking: The thief will simply use your name and good credit to open new credit lines and then go on spending sprees, of course, without paying the bills. You only realize when you either get denied credit, get a call from your bank or some other bank or creditor, or receive a bill you have no idea about.
3. Synthetic identity theft: This involves using bits and pieces of personal information from several victims to create a whole new identity. This is perhaps the most difficult form of ID theft to detect.
There are the obvious precautions anyone can take and often offered as preventive ways. These will probably stop a petty thief, but the modern ID thief is much more sophisticated.
These mundane identity theft prevention ways include advice such as “shred your documents”, “don’t carry your social security card in your wallet”, and “don’t throw documents in the trash” and the like. Good measures, but the sophisticated thief would laugh at these.
You can stop most ID thieves on their tracks by placing a fraud alert on your credit file with the three major credit bureaus. Unlike credit monitoring, which alerts you after the fact, with a fraud alert you get contacted before any new credit lines are opened.
A fraud alert is only good for three months. After three months, you have to renew it, which the bureaus are not enthusiastic to do as they make money by selling your information to third parties for marketing purposes (which they cannot do if you have a fraud alert on your file).
You should also invest in a good antivirus and spyware remover for your computer. Keystroke loggers can get downloaded into your system, without you realizing it. Keystroke loggers track everything typed into a computer and then report back to the scammer via the Internet.
Hector
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Ways to Prevent ID Theft
Andy Lawson asked:
You can be sure about the safety of your home, by locking up all important documents and valuables. But how would you safeguard your personal identity? What if you knew that the bank documents you threw into the trashcan are being used against you?
It is always good to destroy important documents after they have served their purpose. This may include your credit card numbers or any other kind of personal information that could be used by ‘posers’.
According to the National Crime Prevention Council, identity theft is the fastest growing crime in America. Well over 7 million people had filed identity theft complaints in 2006. Keeping this in mind, certain laws have been enacted. You should destroy completely all documents that contain any kind of personal information. It could be burned, pulverized or shredded. Likewise, if you have a business, and someone else’s information has been leaked out because of your negligence, they could sue you.
Identity Theft Laws
According to certain provisions of the Fair and Accurate Credit Transactions Act or FACTA, you can view your credit report at least once a year. According to the provisions, there are federal fines of nearly $2,2500.00 and state fines of $1,000 for non-compliance. In the case of any breach in information security, Individuals stand to suffer huge losses. FACTA basically aims to protect organization and consumer privacy, which includes credit information, corporate trade secrets and medical records.
The following are some of the penalties to businesses specified by the National Association for Information Destruction or NAID, a paper-shredding industry trade group:
o Civil Liability: Due to your negligence, if important employee information is leaked, you have to pay for the damages. This could result in a payment of nearly $1,000 for statutory damages.
o Federal fines: $2,500 for every violation.
o State fines: $1,000 for every violation.
Investing in a commercial paper shredder is a lot cheaper than paying fines. Personal shredders are available at $15 to $250, whereas office shredders are priced at $2,000+.
Different Methods Of Theft Prevention
Financial data is not the only kind of information that needs to be secured. The following are also in need of being safeguarded from theft and misuse:
o Bank information
o Canceled or blank checks
o Budgets
o Credit card offers
o Employee evaluations
o Credit card information
o Income tax records
o Financial statements
o Investment information
o Insurance coverage
o Medical records
o Legal papers
o Personal bills
Your garbage can may be full of waste – according to you. But, as they say, one man’s trash is another man’s treasure. Too often, people dispose important information in convenient garbage cans, without realizing that this is the best place for thieves to get their hands on valuable information.
It is very important to stop being irresponsible and begin destroying important information thoroughly. Criminals make use of any sloppily discarded information. To be on the safe side, you should use a document shredder or hire a document shredding company. Whether you have information saved on CD’s, digital records, key tapes, plastic films, ID cards, microfiche, key tapes or floppy disks, there is a shredder suitable for all the material.
The majority of offices have some sort of paper shredder for destroying documents. There are three common designs to a paper shredder: standard strip cutting, ultra security cutting, and highly effective cross cutting. If your business goes through a lot of paperwork (and who’s doesn’t?) you may want to consider a professional paper shredding company. They will most often leave you a can to place your documents in and they take care of the rest, while abiding by all security laws.
Valerie
You can be sure about the safety of your home, by locking up all important documents and valuables. But how would you safeguard your personal identity? What if you knew that the bank documents you threw into the trashcan are being used against you?
It is always good to destroy important documents after they have served their purpose. This may include your credit card numbers or any other kind of personal information that could be used by ‘posers’.
According to the National Crime Prevention Council, identity theft is the fastest growing crime in America. Well over 7 million people had filed identity theft complaints in 2006. Keeping this in mind, certain laws have been enacted. You should destroy completely all documents that contain any kind of personal information. It could be burned, pulverized or shredded. Likewise, if you have a business, and someone else’s information has been leaked out because of your negligence, they could sue you.
Identity Theft Laws
According to certain provisions of the Fair and Accurate Credit Transactions Act or FACTA, you can view your credit report at least once a year. According to the provisions, there are federal fines of nearly $2,2500.00 and state fines of $1,000 for non-compliance. In the case of any breach in information security, Individuals stand to suffer huge losses. FACTA basically aims to protect organization and consumer privacy, which includes credit information, corporate trade secrets and medical records.
The following are some of the penalties to businesses specified by the National Association for Information Destruction or NAID, a paper-shredding industry trade group:
o Civil Liability: Due to your negligence, if important employee information is leaked, you have to pay for the damages. This could result in a payment of nearly $1,000 for statutory damages.
o Federal fines: $2,500 for every violation.
o State fines: $1,000 for every violation.
Investing in a commercial paper shredder is a lot cheaper than paying fines. Personal shredders are available at $15 to $250, whereas office shredders are priced at $2,000+.
Different Methods Of Theft Prevention
Financial data is not the only kind of information that needs to be secured. The following are also in need of being safeguarded from theft and misuse:
o Bank information
o Canceled or blank checks
o Budgets
o Credit card offers
o Employee evaluations
o Credit card information
o Income tax records
o Financial statements
o Investment information
o Insurance coverage
o Medical records
o Legal papers
o Personal bills
Your garbage can may be full of waste – according to you. But, as they say, one man’s trash is another man’s treasure. Too often, people dispose important information in convenient garbage cans, without realizing that this is the best place for thieves to get their hands on valuable information.
It is very important to stop being irresponsible and begin destroying important information thoroughly. Criminals make use of any sloppily discarded information. To be on the safe side, you should use a document shredder or hire a document shredding company. Whether you have information saved on CD’s, digital records, key tapes, plastic films, ID cards, microfiche, key tapes or floppy disks, there is a shredder suitable for all the material.
The majority of offices have some sort of paper shredder for destroying documents. There are three common designs to a paper shredder: standard strip cutting, ultra security cutting, and highly effective cross cutting. If your business goes through a lot of paperwork (and who’s doesn’t?) you may want to consider a professional paper shredding company. They will most often leave you a can to place your documents in and they take care of the rest, while abiding by all security laws.
Valerie
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November 28, 2010
November 27, 2010
ID Theft Protection – Some Simple Advice
LM Stamper asked:
Why is ID theft protection a big deal nowadays? Once again, there have been countless situations of identity theft (almost 10 million in 2008), as a result of unsecured networks, greedy staff, lost or stolen laptops, not to mention a variety of other reasons. Many more consumers are experiencing a compromise of their personal data each year, and now live with the probability that somebody out there is using their identification for illegal actions, such as immigration, financial fraud, and medical fraud. Some of the consumers impacted don’t even know that their details have fallen prey to identity thieves. Other people may not even realize anything until they receive a letter from some institution alerting them that their identity has actually already affected. As a result of this, ID theft protection has turned out to be much more of a need versus a luxury in our society.
How aware of all of this are you? Are you currently watching the news, studying the newspaper, or learning about it while surfing the World Wide Web? Do you ever consider any form of ID theft protection, even though it may not have happened to you just yet? Or have you just now begun to give it any consideration due to a particular breach that you have just experienced yourself? If it has happened to you, then of course your awareness is currently elevated, but if it hasn’t however, you may possibly want to pay close attention to what is going on globally.
You can locate services on the market that can monitor the use of your personal data. A primary example of this would be to contact one of the three principal credit reporting agencies – Equifax, Experian, or TransUnion. You can go to each of their websites where you can request a free credit report on a yearly basis. Additionally, you will see plenty of companies providing services to keep track of your credit history or keep a watchful eye on your personal data. Before you join a service to assist you with this, be sure that you do your analysis on which companies are respected, dependable, and trusted. The last thing you would like to have happen is to have your identification stolen while you are in fact in the process of looking for ID theft protection.
Secondly, be sure you go with a company that can sufficiently manage any concern you might have. One of the leading services in the ID theft protection industry that we have found to be very capable of doing this is the Pre-Paid Legal Identity Theft Shield.
Identity Theft Shield is one of the more comprehensive ID theft protection plans available. Powered by Pre-Paid Legal Services and Kroll, Inc (the world’s leading risk management firm) it offers extremely effective and thorough protection from ID theft. Unlike most ID theft protection plans, it offers not only continuous credit monitoring, but identity restoration and legal consultation. Though there are many good companies out there, no other company offers complete restoration and legal assistance quite like Identity Theft Shield. Yet another step you can take is to set up an alert primarily based on a company you use, for instance your financial institution, investment organization, or University. Each time that establishment is talked about in the news; you’ll receive an e-mail notifying you. Google makes this possible by their alert method called Google Alerts. For example, you can easily set up an alert on your financial institution “BANK NAME” and whenever they are mentioned in the news, you will receive a notification with an article link detailing exactly what the news is in regards to. From there you’ll be able to learn whether or not a breach has occurred. As you get more familiar with this system, you will discover significantly more phrases you might be seeking, and what phrases you will probably not want to use.
Once again, you must be vigilant when it comes to protecting your identification. Get proper ID theft protection and do everything you can to be certain that no one jeopardizes it.
Lillie
Why is ID theft protection a big deal nowadays? Once again, there have been countless situations of identity theft (almost 10 million in 2008), as a result of unsecured networks, greedy staff, lost or stolen laptops, not to mention a variety of other reasons. Many more consumers are experiencing a compromise of their personal data each year, and now live with the probability that somebody out there is using their identification for illegal actions, such as immigration, financial fraud, and medical fraud. Some of the consumers impacted don’t even know that their details have fallen prey to identity thieves. Other people may not even realize anything until they receive a letter from some institution alerting them that their identity has actually already affected. As a result of this, ID theft protection has turned out to be much more of a need versus a luxury in our society.
How aware of all of this are you? Are you currently watching the news, studying the newspaper, or learning about it while surfing the World Wide Web? Do you ever consider any form of ID theft protection, even though it may not have happened to you just yet? Or have you just now begun to give it any consideration due to a particular breach that you have just experienced yourself? If it has happened to you, then of course your awareness is currently elevated, but if it hasn’t however, you may possibly want to pay close attention to what is going on globally.
You can locate services on the market that can monitor the use of your personal data. A primary example of this would be to contact one of the three principal credit reporting agencies – Equifax, Experian, or TransUnion. You can go to each of their websites where you can request a free credit report on a yearly basis. Additionally, you will see plenty of companies providing services to keep track of your credit history or keep a watchful eye on your personal data. Before you join a service to assist you with this, be sure that you do your analysis on which companies are respected, dependable, and trusted. The last thing you would like to have happen is to have your identification stolen while you are in fact in the process of looking for ID theft protection.
Secondly, be sure you go with a company that can sufficiently manage any concern you might have. One of the leading services in the ID theft protection industry that we have found to be very capable of doing this is the Pre-Paid Legal Identity Theft Shield.
Identity Theft Shield is one of the more comprehensive ID theft protection plans available. Powered by Pre-Paid Legal Services and Kroll, Inc (the world’s leading risk management firm) it offers extremely effective and thorough protection from ID theft. Unlike most ID theft protection plans, it offers not only continuous credit monitoring, but identity restoration and legal consultation. Though there are many good companies out there, no other company offers complete restoration and legal assistance quite like Identity Theft Shield. Yet another step you can take is to set up an alert primarily based on a company you use, for instance your financial institution, investment organization, or University. Each time that establishment is talked about in the news; you’ll receive an e-mail notifying you. Google makes this possible by their alert method called Google Alerts. For example, you can easily set up an alert on your financial institution “BANK NAME” and whenever they are mentioned in the news, you will receive a notification with an article link detailing exactly what the news is in regards to. From there you’ll be able to learn whether or not a breach has occurred. As you get more familiar with this system, you will discover significantly more phrases you might be seeking, and what phrases you will probably not want to use.
Once again, you must be vigilant when it comes to protecting your identification. Get proper ID theft protection and do everything you can to be certain that no one jeopardizes it.
Lillie
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Are ID Theft Protection Services Really Worth It?
Alan Maddux asked:
There have been many discussions in recent months among industry experts, consumer advocates and members of the media in regards to whether or not enrolling in an id theft protection product is worth the cost of the membership. With some companies charging as much as $200 per year for their services, there may be some merit to arguments presented by those who feel that protecting your personal identity is something that consumers can handle themselves.
While it is true that certain features of id theft protection can be handled by consumers themselves, it simply comes down to whether or not individuals are interested in spending the time it takes to monitor all the necessary data sources, placing phone calls to credit bureaus, remembering to renew fraud alerts every 90 days, etc.
The scenario is much like dining out.
There have been many discussions in recent months among industry experts, consumer advocates and members of the media in regards to whether or not enrolling in an id theft protection product is worth the cost of the membership. With some companies charging as much as $200 per year for their services, there may be some merit to arguments presented by those who feel that protecting your personal identity is something that consumers can handle themselves.
While it is true that certain features of id theft protection can be handled by consumers themselves, it simply comes down to whether or not individuals are interested in spending the time it takes to monitor all the necessary data sources, placing phone calls to credit bureaus, remembering to renew fraud alerts every 90 days, etc.
The scenario is much like dining out.
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November 26, 2010
7 Things to Look For When Buying ID Theft Insurance
Romel Whiteside asked:
In a recent survey, Americans seem to be worried more about identity theft than their jobs?
Huh? With this economy?
Thousands of people are victimized by identity theft. This is not a surprise to me or you. Matter of fact, it is said that it’s the “fastest growing crime in America.” There is a way that you can protect yourself and your family.
Id theft insurance protects you against losses like your car or home insurance would. A lot of people are beginning to realize that there is help out there. After all, it can be expensive and time-consuming to restore your good name and credit once your personal information has been used by another person that commits the crime.
There is 1 question though…
What should I look for?
1.) A low deductible. Anything else might not be worth the cost. Usually an identity theft victim will spend around $808 out-of -pocket for expenses. There are some services where you pay a low monthly fee (10-15 bucks) and they will even provide you with restoration.
2.) What Does It Cover?
Every id theft insurance policy has something different about it. Just like your life insurance. Some people choose to pay high deductibles with certain coverage on their homes. Also, every id theft insurance carrier will be different too. Id theft insurance policies will reimburse victims for the cost associated with restoring their identity and repairing their credit report. Your id theft insurance policy may also cover phone bill related expenses, lost wages, notary services, and any certified mail that might have been sent out. Attorney fees may even be covered, but it really depends on your policy and you might have to get written consent from the insurer itself.
3.) What’s the cost? It really depends on more than one factor. Just like with any other insurance policy, it depends on how much coverage you want. If you feel like you’re daily activities provide thieves with more access in some kind of way, then you should probably get more coverage. Most times, the average cost will be between twenty and fifty dollars for $2500 worth of coverage.
4) Lost Wages? Once again you can get reimbursed for any lost wages pertaining to the id theft crime. The average time spent on correcting the id theft crime is 175 hours. That’s a lot of time right? Not everything can be corrected after the 9-5 shift. Many people have to call off work to take visit government offices that are open during the 9-5 shift.
5.) Will my attorney fees be covered? In some cases, you might need an attorney, especially if someone sues you. Why would they do that? Well, if someone takes your identity and run up huge bills in your name, the person on the other end just want their money. End of story. Hiring an attorney is expensive of course so you might want to check your id theft policy.
6.) What is the Cost of denied credit? Sometimes people don’t realize that they are victims until they get denied for a loan. A good id theft insurance policy should cover the cost to reapply for that loan. It should also cover removing negative items from your credit report
7.) How Do You Get It? You might already have id theft insurance without realizing it. Some insurance companies offer the service. You should check your homeowner policy. Sometimes it is even offered as an endorsement to a homeowners or renters policy. Seeing how it only cost 2-3 dollars a month on some policies, it might be worth it.
In conclusion, just because you have id theft insurance, that doesn’t mean you can be relaxed when it comes to your personal financial information. Restoring your identity is frustrating and time-consuming. So prevention is crucial in this case.
Glenda
In a recent survey, Americans seem to be worried more about identity theft than their jobs?
Huh? With this economy?
Thousands of people are victimized by identity theft. This is not a surprise to me or you. Matter of fact, it is said that it’s the “fastest growing crime in America.” There is a way that you can protect yourself and your family.
Id theft insurance protects you against losses like your car or home insurance would. A lot of people are beginning to realize that there is help out there. After all, it can be expensive and time-consuming to restore your good name and credit once your personal information has been used by another person that commits the crime.
There is 1 question though…
What should I look for?
1.) A low deductible. Anything else might not be worth the cost. Usually an identity theft victim will spend around $808 out-of -pocket for expenses. There are some services where you pay a low monthly fee (10-15 bucks) and they will even provide you with restoration.
2.) What Does It Cover?
Every id theft insurance policy has something different about it. Just like your life insurance. Some people choose to pay high deductibles with certain coverage on their homes. Also, every id theft insurance carrier will be different too. Id theft insurance policies will reimburse victims for the cost associated with restoring their identity and repairing their credit report. Your id theft insurance policy may also cover phone bill related expenses, lost wages, notary services, and any certified mail that might have been sent out. Attorney fees may even be covered, but it really depends on your policy and you might have to get written consent from the insurer itself.
3.) What’s the cost? It really depends on more than one factor. Just like with any other insurance policy, it depends on how much coverage you want. If you feel like you’re daily activities provide thieves with more access in some kind of way, then you should probably get more coverage. Most times, the average cost will be between twenty and fifty dollars for $2500 worth of coverage.
4) Lost Wages? Once again you can get reimbursed for any lost wages pertaining to the id theft crime. The average time spent on correcting the id theft crime is 175 hours. That’s a lot of time right? Not everything can be corrected after the 9-5 shift. Many people have to call off work to take visit government offices that are open during the 9-5 shift.
5.) Will my attorney fees be covered? In some cases, you might need an attorney, especially if someone sues you. Why would they do that? Well, if someone takes your identity and run up huge bills in your name, the person on the other end just want their money. End of story. Hiring an attorney is expensive of course so you might want to check your id theft policy.
6.) What is the Cost of denied credit? Sometimes people don’t realize that they are victims until they get denied for a loan. A good id theft insurance policy should cover the cost to reapply for that loan. It should also cover removing negative items from your credit report
7.) How Do You Get It? You might already have id theft insurance without realizing it. Some insurance companies offer the service. You should check your homeowner policy. Sometimes it is even offered as an endorsement to a homeowners or renters policy. Seeing how it only cost 2-3 dollars a month on some policies, it might be worth it.
In conclusion, just because you have id theft insurance, that doesn’t mean you can be relaxed when it comes to your personal financial information. Restoring your identity is frustrating and time-consuming. So prevention is crucial in this case.
Glenda
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November 24, 2010
Flash Drives and ID Theft
J. M. Smith asked:
We’ve read or heard about the numerous ID theft breaches when an employee has taken home a laptop containing non-public information but what about something smaller and easier to conceal.
USB sticks or flash drives can contain just as much damaging information as a laptop. They are easier to carry and can be placed inside a purse, pocket or jacket with no one ever knowing and are generally not encrypted.
Some stories of lost flash drives might make you think twice before taking one home with employee information and even if you don’t have access to your co-workers information think twice about taking your personal flash drive for a trip.
A soldier loses his personal flash drive and is found by the enemy. They edit the videos he stored on the drive and use it for propaganda.
Swedish Armed Forces lose flash drive with classified information when an employee forgets the drive in a public computer. The drive contains information in regards to IED and mine threats in Afghanistan.
An employee for Tennessee Tech University loses flashdrive with 990 students social numbers. The employee transferred the information to the drive when the printer he was using would not print.
My question here is why would that employee still try to print out 990 students social numbers on paper only to be carried around somewhere.
Iowa Dept. of Natural Resources employee loses flash drive containing 7,000 names and social numbers and doesn’t report it for two weeks.
University of Reno professor loses flash drive with 16,000 incoming freshman social numbers. 21% of IT workers have lost flash drives say’s Silicon.com.
It’s no wonder the government is cracking down on ID theft and passing new compliance laws. What’s mindboggling is that employers aren’t taking the necessary steps to protect our information.
In a previous article I wrote (50-70% Of ID Theft Stems from the Workplace) can you see why these numbers are so high? Information is being taken home on laptops, flash drives and CD’s.
Flash drives have the portability convenience. You can store resume’s, applications, medical records, classified information, social numbers and every bit of non-public information you want.
All reasons why employees should be taking mandatory ID Theft training. Every business owner should have a risk assessment done and know where potential threats could occur.
Simple steps in having a security breach plan and an assessment done could save your business.
Tommy
We’ve read or heard about the numerous ID theft breaches when an employee has taken home a laptop containing non-public information but what about something smaller and easier to conceal.
USB sticks or flash drives can contain just as much damaging information as a laptop. They are easier to carry and can be placed inside a purse, pocket or jacket with no one ever knowing and are generally not encrypted.
Some stories of lost flash drives might make you think twice before taking one home with employee information and even if you don’t have access to your co-workers information think twice about taking your personal flash drive for a trip.
A soldier loses his personal flash drive and is found by the enemy. They edit the videos he stored on the drive and use it for propaganda.
Swedish Armed Forces lose flash drive with classified information when an employee forgets the drive in a public computer. The drive contains information in regards to IED and mine threats in Afghanistan.
An employee for Tennessee Tech University loses flashdrive with 990 students social numbers. The employee transferred the information to the drive when the printer he was using would not print.
My question here is why would that employee still try to print out 990 students social numbers on paper only to be carried around somewhere.
Iowa Dept. of Natural Resources employee loses flash drive containing 7,000 names and social numbers and doesn’t report it for two weeks.
University of Reno professor loses flash drive with 16,000 incoming freshman social numbers. 21% of IT workers have lost flash drives say’s Silicon.com.
It’s no wonder the government is cracking down on ID theft and passing new compliance laws. What’s mindboggling is that employers aren’t taking the necessary steps to protect our information.
In a previous article I wrote (50-70% Of ID Theft Stems from the Workplace) can you see why these numbers are so high? Information is being taken home on laptops, flash drives and CD’s.
Flash drives have the portability convenience. You can store resume’s, applications, medical records, classified information, social numbers and every bit of non-public information you want.
All reasons why employees should be taking mandatory ID Theft training. Every business owner should have a risk assessment done and know where potential threats could occur.
Simple steps in having a security breach plan and an assessment done could save your business.
Tommy
Comments Off
November 19, 2010
November 18, 2010
Recent Identity Theft Statistics
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!
Kristen
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!
Kristen
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If Your Best ID Theft Protection Fails
Dale G Davidson asked:
Id thieves are slick and are continually devising devious methods to steal your identity. Despite your best efforts at id theft protection, it may still be possible to fall victim to id thieves. Your information can be stolen by insiders at corporate or government data repositories.
Recovering from identity theft can be an arduous process, that requires patience and persistence.
All interactions with institutions and agencies should be documented. Keep copies of all records and follow up telephone calls with written correspondence.
Report the theft to the institution as soon as possible. Report all unauthorised charges and request that all unauthorised accounts be closed. Contact the major credit bureaus and advise them of a fraud alert. The fraud alert prevents new accounts from being opened in your name. File a report with local authorities. The financial institutions may require a police report before they proceed with remediation of id theft. You may also need to fill-out an affidavit from the FTC(Federal Trade Commission). It may help you to identify and collect the required information that will be required by the organisations investigating the fraud. The crime should be reported to the FTC, where the database of id theft reports are maintained.
By reporting the theft, the organisations and authorities learn more about identity theft and how it can be resolved and prevented.
File a complaint with the IC3, www.ic3.gov The IC3 is a joint venture between the FBI and the National White collar Crime Center. Your report will most likely be used for assistance in research into id theft protection methods.
Janet
Id thieves are slick and are continually devising devious methods to steal your identity. Despite your best efforts at id theft protection, it may still be possible to fall victim to id thieves. Your information can be stolen by insiders at corporate or government data repositories.
Recovering from identity theft can be an arduous process, that requires patience and persistence.
All interactions with institutions and agencies should be documented. Keep copies of all records and follow up telephone calls with written correspondence.
Report the theft to the institution as soon as possible. Report all unauthorised charges and request that all unauthorised accounts be closed. Contact the major credit bureaus and advise them of a fraud alert. The fraud alert prevents new accounts from being opened in your name. File a report with local authorities. The financial institutions may require a police report before they proceed with remediation of id theft. You may also need to fill-out an affidavit from the FTC(Federal Trade Commission). It may help you to identify and collect the required information that will be required by the organisations investigating the fraud. The crime should be reported to the FTC, where the database of id theft reports are maintained.
By reporting the theft, the organisations and authorities learn more about identity theft and how it can be resolved and prevented.
File a complaint with the IC3, www.ic3.gov The IC3 is a joint venture between the FBI and the National White collar Crime Center. Your report will most likely be used for assistance in research into id theft protection methods.
Janet
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November 17, 2010
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