id theft fraud prevention

John Goldman asked:


The world around you has become information oriented society. New technological advancements lets you business and make financial transactions in just a matter seconds. However this abundance of information has actually given rise to a new crime called identity theft.

According to the Federal Trade Commission this crime has become one of the fastest growing in the United States as there are more than 10 million Americans affected by this theft leading to huge financial and personal losses. Some of the biggest crimes done in the city are done using personal information and social security numbers. Additionally identity theft has actually reached outbreak proportions with consequent catastrophic consequences.

Identity theft shield services

Identity theft cases are not anything new but have become the most persuasive cries in the past. The advancement in computer software and hardware and with the growth in internet has drastically increased the role of identity theft in the growing crimes. However the best option you have is to hire credit monitoring service which can help after you alert that there have been some changes in your credit reports.

There are several companies offering you this credit monitoring services and some of them offer the most advanced services. This means that most of these service providers have developed an innovative solution for the victims of identity theft and this service is called as identity theft shield. This is often available as a pre paid legal service but mainly to their members.

Therefore with this identity theft shield you can benefit from an added security over you identity knowing that the professional and experienced service provider are there to protect your financial and personal information.

Benefits from identity theft shield

When you become one of the members of identity theft shield service providers you can easily gain access all the resources you need to better understand your credit rating or to fight back identity theft that threatens your credit standing. The shield is basically designed to alert you in case there is a suspicious activity in the account so that all the resulting damages are instantly restores back to normal and also to reimburse you for the enclosed out of pocket expense which might arise during the process.

In order to avoid identity fraud it is recommended you frequently review you credit report and identity theft shield makes this process even easier. This means that you can receive prompt notice hen there is a new or fraud account opened in your name or in case the critical notations are added in your credit report.

You should know that identity theft victims usually spend several days and several fees to clear off their names from unwanted lists, but with the id theft shield service you can benefit from their affordable monthly service while leaving aside all the task of cleaning off your credit report on the service providers. They are the most comprehensive and factual solutions to the id theft restoration which can be very helpful in case you have become a victim of the crime.



Harvey

John Goldman asked:


Identity theft is becoming more sophisticated and hard to manage by ever passing day where id thieves are finding out new ways to steal your identity. This rapid growth in the number of cases in identity theft being reported has also been matched by the corresponding increase in the business that offer services to protect you from the impact of id theft.

However the arguments still remain when it comes to the effectiveness of services offered by these id theft protection companies. Therefore you need to find for yourself how services based on the organization would help protect your identity.

Services included

Max Thompson of Identity Theft Protection 101, identities five services which are generally offered by id theft protection companies. The services include daily monitoring of credit reports, providing you a list of the credit applications issued on your name, maintain fraud alerts on your credit reports, eliminate pre approved credit offers and also monitor other personal identifiers like your social security number.

The LifeLock Company for instance which is owned by Todd Davis offers an excellent example of the problems faced by these companies in offering your guaranteed identity theft protection. The owner of the company who is know for displaying his social security number in ads for his company’s effectiveness actually had his id stolen which caused their customers to file suit against them.

Report from Consumer Federation of America

There was a report by Consumer Federation of America or CFA in March 2009 entitled To Catch a Thief and it discussed whether id theft protection services are actually worth the cost which voiced concerns on the effectiveness of these companies. However after researching around 16 businesses which offered id theft protection service and the CFA had found several problems with their service.

Some of these include lack of proper information on costs and coverage, incomplete data about insurance coverage, misleading statements regarding the effectiveness of fraud alerts, vague guarantees and also the use of internal negotiation methods which could limit rights of a consumer.

The report from CFA also criticized the companies which publicize id theft ‘protection’ service. However according to the author of the report, although the services offered by these companies might offer protection from the effects of id theft, completely preventing it is very difficult.

According to the federal trade commission you are recommended to use free identity theft protection services that you are entitled for before buying services from different companies. The FTC also specifies that based on the Fair Credit Reporting Act you are permitted to place both a seven year extended alert and 90 day initial fraud alert on your credit report without any charges.

When these alerts are in place, the creditors will have to personally contact you before issuing any credit under your name. You can even use credit freeze option that can stop anyone from gaining access to your reports. Therefore when choosing identity theft protection organizations make sure know what services you are offered and how much it would cost you for their service.



Doris

John Goldman asked:


Identity theft can be simply identified as a crime throughout the world. Identity theft and fraud are basically the terms used to refer these crimes wherein a person wrongfully gains access and uses personal data of someone else in some way which involves deception or fraud, usually for financial gain. Therefore with the increasing risks of identity theft it is important you take certain precautions to stay away from identity theft and fraud.

How risky is identity theft and fraud

It is much different form your fingerprints which are unique to every individual and cannot be robbed by anyone for their use, but in case of your personal data specially your credit card and bank account number, social security number, your telephone calling card numbers or any other valuable identification data can be easily robbed and used when they fall in the hands of thieves to personally make profits on your expense.

In the United States and several other places, people have filed reports that an unauthorized person has taken funds form tier bank or financial accounts but in some worst cases it has been taken from their own identity. When done in your own identity it can go much further to creating vast debts and also commit crimes in the name of the victim. In most cases the losses faced by a victim might not just include out of pocket funds but some substantial additional financial costs linked to the effort in restoring their personal reputation in the local community and also correcting all the information that was used for criminal activities.

Common ways to commit identity theft and fraud

Most people don’t realize how easy it is for criminals to gain access to their personal data without even breaking into their homes. The criminals for instance might engage in shoulder surfing by just watching you from nearby when you type your credit card number or telephone calling card number. Additionally the areas around your office or home might also not be safe, as most criminals usually engage in dumpster diving which means going through your communal dumpster, garbage cans or trans bin.

This is just to check if there are any checks, bank or credit card statements or any other record bearing your name, number and address. These bits of information make it easier for them to get control over your accounts and in your name through your identity.

What should you do?

Identity theft and fraud has become a growing crime and there are certain steps you should take to prevent being an id theft victim. Firstly you should be careful about your personal sensitive data by making sure you don’t carry your social security number in your wallet.

Make sure you also clear your trash bin frequently by either burning or shredding the thrown away documents including your used credit cards. You should also request your credit report to find out if there are any changes done to your account. In case you find any changes make sure you instantly inform the FTC or the credit reporting agencies about the case.  



Chad

John Goldman asked:


As there are a number of people who are just looking for a chance to steal your personal and financial information it is no surprise that increasing number of people who are cautious about their personal data have started taking advantage of a local identity theft resource center.

These places might not help you in preventing identity theft but will surely help you report the case to the right authorities to avoid further identity mess up. These identity theft resource centers are places that everyone much consider visiting when you become a victim as identity theft is taking place on a daily basis with several cases.

Why resource centers

If you become a victim of identity theft it can destroy your credit while also causing you a lot of personal difficulties until everything gets placed out the normal way. Therefore going through an identity theft resource center is often recommended so that you there is not further problem created. It is actually very touch to get things back to normal when affected by id theft and these centers are the best sources to avail the right help.

The id theft resource center would also instantly spot the unauthorized activity done over your credit report much faster than you might and you could personally search as they use the most advanced computer technology for id theft research. It is even possible for you to try doing it yourself but it would be difficult to watch your credit reports from different reporting agencies as they are done in the identity theft resource center.

How do you get started

Even though it seems to be a complex system in starting to work with a identity theft resource center it is rather quite simple. You just have to find the nearest local service provider in your locality and just give them a call if you trust them. after they avail all the information needed from about you, there is nothing left for you to worry and you just have to sit back and stay ensured they would get things right.

The resource center would also automatically alert you when they find anything strange in your credit. After it has been determined that a serious id theft has taken place the center would help you in alerting the right authorities so that further action is instantly taken.

You just have to pay them a small amount of monthly fee for the service they provide. This fee is often not very expensive when compared to the problems you face with your identity.

However the amount you are asked to pay would depend on the type of service you choose and the service providing center as some of them might have highly technical equipments to provider better and faster service. Therefore if you suspect of being an identity theft victim make sure you instantly consult an identity theft resource center for comfort and peace of mind when they research about the case and the thief.



Earl

John Goldman asked:


Identity theft monitoring is a program which help in effectively preventing an incident of identity theft. This monitoring services plays a major role in preventing internet fraud and safeguarding your credit so that you don’t become the next id theft victim. You might know that identity theft has become a huge criminal issue in the world and especially in United States and the need for identity theft protection has become a huge concerning factor.

Therefore there are id theft monitoring services that would keep a watch over your credit. Identity theft mostly occurs when your personal information has been compromised with someone else. In fact this crime generally involves using personal information of the victim to commit frauds and criminal activities.

Protect yourself from id theft

The growing number of identity theft reported every year might no reduce anytime sooner. However there are some useful guidelines which can help you minimize the possible damage through the monitoring services which might occur due to id theft.

Blocking all your disclosed credit cards is the first part of identity theft monitoring services The services monitor your credit report which is necessary to prevent id theft The monitoring services would contact the government agencies which can place a fraud alert on your credit so that no further damage is done.

The id theft monitoring process

Identity theft monitoring services include a particular mechanism which ensures your identity is well protected and away from id theft frauds. There are several measures which can help prevent id theft such as securing your credit card numbers, social security number, bank account information and other personal information. These prevention measures can easily handle fraud and other id theft crimes.

Additionally identity theft monitoring services also includes a careful verification of all your personal accounts which includes all your credit card accounts. However in case id theft occurs it is important all your credit accounts are closed immediately.

Consulting banks and financial institutions is one of the best ways to prevent being an id theft victim. Additionally changing passwords of ATM cards and credit cards would also be another best way to stay away from identity thieves. You should avoid date of birth, parents name and last digit of social security number in your passwords and this can help the monitoring services to safeguard your identity.

Identity theft might also happen for varied reasons and to detect the types of id theft crimes during the initial states and lessen the damages you must be a part of identity theft monitoring services which offers services from all 3 credit bureaus. It might just take a small monthly fee for their services but the id theft monitoring agency would notify you through mail in case of any unusual activity in your credit report. The good thing is that most of these services also come with insurance as the report while some other agencies might offer three in one identity monitoring services which alerts you to any changes in your identity.  

 



Edwin

John Goldman asked:


Identity theft or fraud is the intentional appropriation for persona information of a person to impersonate them in a legal sense. Stealing identity of ape son enables thief to make a frightening number of personal and financial transactions but not in their own name which leaves the victim responsible for almost everything that might happen due to your identity theft.

However the FTC or Federal Trade Commission has kept a record of identity theft and surprisingly they also have the number of incidents being reported each year. Therefore the identity theft statistics taken recently has reveled that id theft has affected as many as 10 million people in US every year. Based on the identity theft statistics of FTC the losses to financial and business organizations have totaled around 53 billion dollar in a year.

Earlier statistics

These statistics for id theft also reveal that most common types of identity thefts are communications services fraud like utility services account for your information or opening a cell phone, credit card frauds and even loan and bank frauds.

The primary cause of identity theft for several years has been the low tech and good old fashioned analog crime where the impersonators searching through mailboxes, searching the garbage for any credit card receipts or discarded bank statements and snatching purses. However the rapid advancement in technology has actually seen an outbreak of sophisticated phishing scams. The identity theft statistics today expose these scams as the most dangerous of theft which uses both technical subterfuge and social engineering.

Identity theft had been first mentioned in the literature during 1990s and studies have showed that from 2001 to 2002 there was nearly 12 to 20 percent increase in the crime while from 2002 to 2003 the figure climbed up to nearly 80 percent. The Better Business Bureau conducted survey during 2006 which showed a decrease compared to previous figures.

However the identity theft statistics showed in Texas was along was nearly 700 percent increase in the cases during 2004 to 2005. According to the Better Business Bureau statistics it reported that in just six moths during 2004 there were nearly 3.5 million households affected by this crime. The statistics have always shown an increase since then with more number of people affected every year.

Current Statistics

In the year 2007, Consumer Sentinel which is a FTC database had registered above 780,000 complaints of identity theft and fraud crimes. The data was generated from different law enforcement agencies which are compiled by FTC. However the number of complaints during 2008 sent tot eh Consumer Sentinel database was above 1.2 million of cases from different reporting agencies.

This simply means that it showed a 50 percent increase in the overall identity theft cases compared to 2007 and 2008 data. The data for 2009 is however unavailable yet, but it has been predicted that there would be another shocking increase in the identity theft statistics of the year. This is simply because of the economic adversity such as current recession that generally corresponds to the increase in crime rate which also includes id theft in huge.



Stephen

C.w. Linart asked:


In preparing to write a series of articles on the subject of identity theft, I waded through lot of statistics.  Each number worried me more than the last.  There was a lot that I did not know about this crime, even though I personally know people who have been victimized.

For example, it was news to me that only 20 percent of identity theft involves credit card fraud.  According to numbers recently released by the Federal Trade Commission, identity thieves use stolen information in a variety of ways.  Without giving criminals any new ideas, let me just say that becoming a victim of ID theft can mess up your whole life, not just your credit score.

Another surprising reality:  Only 11 percent of identity theft is committed by high-tech means.  In fact, 48 percent is committed by a person known to the victim.  Taken together these two pieces of information say that the secretary at your insurance agent’s office or your wife’s ne’er-do-well cousin is more likely to steal your identity than is some pimply hacker in former East Germany.  Even if you shred every piece of paper, always look over your shoulder at the bank, and touch a computer, you could still become a victim.  Unless you monitor everyone you do business with (and all their employees) and every person you know, you are vulnerable.

Identity theft become so common and continues to grow because it is an easy crime to commit and a difficult one to catch.  Incidents of fraud commited by persons using stolen identities increased by 22 percent between 2007 and 2008 alone. As a matter of fact, the occurence of identity theft has risen steadily for ten years.  With the economy being what it is, a continuation of this trend seems likely.  

People who commit this crime are not your standard criminal.  Often they see ID theft as almost a “victimless crime” since recent fraud protection legislation puts most of the financial responsibility on lenders.  Criminals — many of whom are just desperate — move quickly once they have your information.  The average fraud takes place within a week of the stealing of personal information.

The damage happens fast, but repairing it takes an average of 70 aggravating hours.  Sometimes the damage is never undone completely.  Some victims do not find out that they are victims until months or years after the criminal has stolen their identity.  Sometimes the IRS audits a victim for income earned by the criminal, perhaps a felon who used the victim’s identity to get a job.  Other victims get a rude awakening when it turns out that the thief has committed other crimes using their identity.  Can you imagine learning about a criminal record (yours) that you had no idea existed?  It happens.

Prevention is the best medicine.  Identity theft is a lot like a disease in that preventing it is preferable to treating it.  If you  are unlucky enough to get the disease, early diagnosis is essential to successful treatment.

That brings me to a bit of good news: Tools have been developed to help you protect yourself.  Look for those in a future article, or just click the link at the bottom of this article to try it for yourself for free.

Whatever you do, do not take this lightly!  If you have anything to lose, someone is trying to take it.



Edna

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

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

John Goldman asked:


The internet and email services have actually created easy opportunities to conduct business and stay in touch with your loved ones. However these online services have also created several ways for criminals to hack your email address and passwords so that they can ultimately steal your identity.

At one time people who stole identity of others had a hard time working on a process to get information of the person, but today things have become quite easy to deceive a target through email services. You might have every wondered how and why people steal your identity through email address. It is quite simply for them and when your identity is stolen the thief would pretend to be you and gain access to all your financial and personal records. They might even ruin your credit and even commit crimes in your name.

About email address theft

The main advantage in stealing your email address if for spamming and phishing. This email identity theft can easily convince others that any message or communication is conducted from a legitimate business or person. Therefore there have been huge cases reported for business email address theft. Therefore when you think that your conversation is held with a legitimate organization then you would probably share all your personal and financial information with them and this is called as phishing.

Why email address is stolen

The other common reason for email id theft is for spamming. Although most of the spam messages are blocked by internet service provider, the person committing email identity theft might send email to a firm or individual under the name of legitimate person and there are fewer possibilities for it to be blocked.

Email identity theft is also considered as identity fraud through which the hacker would use email id of the victim to get their all their information. However it is obvious that everyone would want to protect their email address but there are still crimes taking place. In this case you need to take extra precautions in protecting your email address.  

How to prevent email id theft

Be careful when using spam emails that ask for your social security number, bank account information, passwords and other personal info. It is important you check the mail’s reliability before disclosing this information. Internet phishing scams are a common issue in today’s cyber world. You might find some mails asking you to fill up several details such as mail id, password, credit card number on their form. It might have a high leeway of being scams. You might get some scam mails from the perpetrator asking you to update your credit card information in the form they provide. These mails must be stopped immediately as they can cause identity theft. You might even receive mails claiming to be from banks and might ask you for your bank account passwords. You should know that there are very rare cases of banks asking you for such information through mails. The mails which are written with several misspellings and grammatical errors would likely come under scams and might even be from identity thieves.

Edgar