Federal Trade Commission | id theft fraud prevention

February 23, 2011

ID Theft Protection As a White Collar Crime

Filed under: Legal — Tags: Bank Account Numbers, Consumer Complaint, Credit Bureaus, Credit Reporting Agencies, Experian, Federal Trade Commission, Information Solutions, Investigation Fbi, Major Credit Reporting Agencies, Precautionary Measures, Protective Measures, Social Security Number, Theft Victim, Unscrupulous Individuals, White Collar Crimes — admin @ 2:12 am

Matthew Stanton asked:

We are living in the information age today but one of the drawbacks of easily accessible data is that your personal information may be just lying out there waiting to be snatched by identity thieves. Identity theft has grown to be pervasive and is now one of the dominant white collar crimes today.

The Federal Trade Commission reports that identity theft is the largest consumer complaint and the fastest growing crime in America. In 2007, the Federal Bureau of Investigation (FBI) reported that identity theft affected 9.91 million Americans. In addition, there are probably many more cases that went unreported. Identity theft has accounted for $52,600,000,000 in losses in 2007. Most identity theft victims never know their identity has been stolen until they get phone calls and letters from collections agencies or even the IRS telling them they owe money.

ID theft victims usually experience that fixing the problem can be a nightmare. On average, victims spend up to 600 hours and thousand of dollars in expenses just to prove they are innocent. Worse, contrary to judicial practice, most creditors consider the ID theft victim guilty until they prove otherwise.

The problem is that many people do not take ID theft seriously and do not take the necessary ID theft protective measures. There are many precautionary measures you must do in order to protect yourself from ID theft. The first thing you should do is to check your credit reports at least once a year from all three credit bureaus in order to make sure you do not have accounts you do not know about. The major credit reporting agencies include Equifax, Experian Information Solutions and TransUnion.

In addition, you should shred or burn papers with credit card or bank account numbers, Social Security numbers, etc. These documents may fall to unscrupulous individuals and the personal information might be used to commit ID theft. You should also avoid putting your Social Security number on anything, unless it is legally required. Some checks have the issuers Social Security number on them and some drivers license routinely use Social Security number. This is a big mistake. You should check with the local DMV and bank to see if they offer another option.

In todays information age, physically stealing mail and papers is not the only way to get information.One of the disturbing trends that identity thieves use is phishing. This is a criminally fraudulent process of attempting to acquire sensitive financial and personal information by masquerading as a trustworthy entity in an electronic communication. Phishing uses spam, email or pop-up messages to deceive Internet users into disclosing credit card numbers, bank account information, Social Security numbers, passwords, and other sensitive information. These e-mails appear to come from a legitimate company, usually a financial institution or credit card issuer, urging you to immediately reply with personal information so your account is not deactivated.

Vigilance is the key to ID theft protection. Always file a police report promptly after discovering ID theft as you will need it in disputing fraudulent charges.

Lillian

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February 21, 2011

Recovering From Id Theft

Filed under: Legal — Tags: Chemotherapy, Complexity, Credit Report, Customer Service Representatives, Emotional Impact, Emotional Strength, Federal Trade Commission, Financial Information, Fraud Investigators, Identity Theft, Information Gathering, Institutions, Lawyer, Paced Technology, Proper Authorities — admin @ 7:54 am

Tina L Douglas asked:

Gone were the days when only tangible properties get stolen. With the fast-paced technology, practically anything can be taken away from anyone – dead or alive. Yes, the dead is not exemption.

So, you’re identity has been tampered. So, your credit standing is now a mess. So, what do you do next? Where do you ask for help? Recovering from identity theft is comparable to regaining strength after a series of chemotherapy. The financial as well as emotional impact could be great. The process involves information gathering, reporting, follow through, resolution and continual monitoring.

1. Information Gathering – Collate all information pertinent to what was stolen from you. Keep in mind that everything should be properly documented, even your simplest conversation with anybody – the time of call, who you spoke with, what was discussed and agreed upon. Get a record of all the fraudulent financial information. Freeze the credit or bank account involved. Obtain a copy of your credit report. Get a hold of a receiving copy of anything that you send out to anyone, even the report you provide the local police department.

2. Reporting – You need to contact quite a number of institutions to assist you with the unfortunate event. Proper authorities include, but are not limited to, the Federal Trade Commission and the local police department, your bank or credit company’s fraud investigators, your lawyer, and more importantly, you support group. You will need a lot of emotional strength as you go through a very lengthy process of reclaiming your own identity.

3. Follow Through – Ensure that you have spoken to the right people. More often than not, the issue of identity theft gets worse when one settles with reporting the concern to front-liner support such as customer service representatives. These individuals may log your concern but they are not experts on how to treat the complexity of your case. Whenever possible, ask for the company’s fraud expert.

4. Resolution and Continual Monitoring
Be in constant communication with your lawyer. You hired him not only to help you regain what was lost, but also to defend you. When identity is stolen, it’s a big issue of trust. So take note to hire the lawyer whom you personally know and would at least attest to your real personality.

Bear in mind that everything should not stop the moment you have regained your identity and cleaned up all the mess. It is a must that you protect yourself by doing preventive measures such as subscribing to credit monitoring services. These services monitor the activities of your accounts and would alert you the moment any changes happen. You can then validate them as they happen instead of waiting for something big to explode in your face. Prevention best serves as your shield.

Roberta

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February 15, 2011

Medical ID Theft Spawns New Compliance Requirements

Filed under: Legal — Tags: Ama, American Medical Association, August 1, Bad Debt, Compliance Requirements, Creditor, Federal Trade Commission, Ftc, Health Care Providers, Infraction, Medical Associations, Medical Care, Medical Practice, Monetary Penalties, Red Flag — admin @ 7:13 am

Matt J. Morris asked:

Identity theft is the number one crime in America. Medical identity theft, where individuals receive medical care using stolen false identities, is widely considered to be the fastest growing type of this crime. An increasing number of people are falling victim to this crime and are having their lives turned upside down, while being forced to spend hundreds of hours to clear their good name. The cost to business has most recently been estimated at nearly $50 billion dollars per year.

In response to this growing problem the Federal Trade Commission is now requiring an ID Theft Red Flag Program be in place for any medical practice that does not collect complete payment at the time it provides services to its patients. Any practice that is billing insurance on behalf of its patients, where the patient is ultimately responsible for the payment, is now being considered a “creditor” by the FTC, and falls under these requirements. The deadline for laving a program in place has been moved back to August 1, 2009, as the FTC found many industries still unaware of their obligations under this rule. It is at that point that the FTC will begin to enforce civil and monetary penalties per infraction.

Although the American Medical Association (AMA) and other medical associations have argued that they should not fall under this rule, the FTC recently responded with a nine page letter making it clear they would not be granting an exemption to these requirements for health care providers.

The purpose of these requirements is to minimize the risk to individuals that have had their information stolen for the purpose of identity theft. While having to comply with a new law may at first seem frustrating, practices will be reducing their liability and minimizing the expense of providing services where payment would otherwise go uncollected. Medical identity theft can often go unnoticed, mixed in with a practices’ bad debt from services that are unable to be collected when the actual patient is unknown. Third party payors can also demand a refund from physicians if identity theft is discovered after the payment has been applied. Ultimately, the financial cost of this growing problem is most often born by the practice, and good policies and staff awareness can reduce that cost.

The “Red Flag Rules” requires practices to develop an identity theft program that contains written “reasonable policies and procedures” to:

Identify relevant patterns, practices, and specific forms activity that are “red flags,” Detect these patterns, or “red flags”; Respond to those detected to prevent and mitigate identity theft; and Ensure the program is updated periodically to reflect changes in risks. In administering such a program, a practice would need to: Illustrate approval of the program from its board or board committee; Appoint a designee(s) as a red flag officer; Train staff on awareness, red flags, and appropriate responses; Exercise oversight of service provider arrangements.

While some health care practices have begun to check identification prior to providing services this will now be a necessary step for all providers that have patients covered under this rule. The identity theft red flags that need to be identified in a policy fall under these categories: Suspicious documents; Suspicious identifying information; Unusual or suspicious activity related to patient; and/or Notices from patients, victims of identity theft, insurance investigators, law enforcement, about possible identity theft.

Training of staff is a very important element to this program as not only new procedures will need to be adopted, but also a new awareness among staff needs to be created to adequately follow policies. Most employees within the health care industry know very little about this problem and will find it difficult to identify the red flags, follow proper reporting requirements, and recognize the appropriate responses if their thinking and behavior has not been impacted by this training.

Proper training should also impact behavior related to how information is handled, and go a long way towards data theft and breaches that are increasingly common. This is especially true when 61% of current data breaches are a result of administrative error.

According to Betsy Broder, the Assistant Director, Division of Privacy and Identity Protection at the Federal Trade Commission, the FTC will be looking for “reasonable efforts” at this initial point of enforcement. According to Broder, “What we’re looking for is good faith efforts on their part to develop programs.”

The FTC has stated they do not believe the requirements will impose significant burdens for most providers. Given the risk-based nature of the rule’s requirements, programs can be flexible and tailored to the degree of risk faced by a particular provider. While it is essential that all the components above are included, they may be more or less extensive based upon the risk factors involved.

Gladys

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November 18, 2010

Recent Identity Theft Statistics

Filed under: Legal — Tags: Advances In Technology, Appropriation, Bank Fraud, Bank Statements, Communications Services, Credit Card Frauds, Credit Card Receipts, Federal Trade Commission, Financial Consequences, Financial Institutions, Identity Theft Statistics, Legal Sense, Personal Identity, Social Engineering, Subterfuge — admin @ 7:35 am

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

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If Your Best ID Theft Protection Fails

Filed under: Legal — Tags: Best Efforts, Devious Methods, Federal Trade Commission, Financial Institutions, Fraud Alert, Government Data, Id Theft Protection, National White Collar Crime, National White Collar Crime Center, New Accounts, Persistence, Police Report, Thieves, White Collar Crime, White Collar Crime Center — admin @ 6:14 am

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

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February 28, 2010

How Can You Prevent Online Theft Shield?

Filed under: Criminal — Tags: 10 Million, Credit Monitoring Service, Credit Monitoring Services, Credit Rating, Experienced Service, Federal Trade Commission, Financial Transactions, Identity Theft Cases, Identity Theft Shield, Innovative Solution, Outbreak, Personal Losses, Pre Paid Legal Service, Proportions, Victims Of Identity Theft — admin @ 3:38 am

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

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November 23, 2009

Information About Identity Theft Statistics

Filed under: Criminal — Tags: Appropriation, Bank Frauds, Better Business Bureau, Business Organizations, Communications Services, Credit Card Frauds, Credit Card Receipts, Federal Trade Commission, Identity Theft Statistics, Impersonators, Legal Sense, Mailboxes, Rapid Advancement, Sophisticated Phishing Scams, Subterfuge — admin @ 6:54 am

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

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November 5, 2009

How Serious Is Identity Theft Really?

Filed under: Law — Tags: Cbs News, Commission Complaint, Complaint Data, Credit Card Fraud, Dumpster Diving, Federal Trade Commission, Friends Family, Ftc, Law Enforcement Agencies, Loan Fraud, Metropolitan Areas, Nations Identity, Phoenix Az, Reported Cases, Victim Of Identity Theft — admin @ 11:23 pm

Lisa Carey asked:

Yearly Reports of Identity Theft to the Federal Trade Commission:

In 2007 identity theft accounted for 36 percent of the 674,354 fraud and identity theft complaints (reported to the Federal Trade Commission.

In 2005 -255,565 cases of identity theft were reported to the FTC

In 2004 -246,847 cases of identity theft were reported to the FTC

In 2003 215,177 cases reported of identity theft were reported to the FTC

In 2001 CBS News reported that someone became the victim of identity theft every 79 seconds (CBSnews.com, 1/25/01)

Between 1997 and 2005 the Federal Trade Commission reported that over 3 million cases of fraud and identity theft were reported to over 1400 law enforcement agencies in 19 nations. Identity theft crimes are not limited to the United States but are committed world wide.

Facts every consumer should know:

- Credit card fraud (26%) was the most common form of reported identity theft followed by phone or utilities fraud; (18%), bank fraud (17%), and employment fraud (12%). Other significant categories of identity theft reported by victims were government documents/benefits fraud (9%) and loan fraud (5%). (Federal Trade Commission Complaint Data)

- the majority of cases go unreported to Federal or local authorities

- the most common age group affected by identity theft is 18-29

- the top 10 metropolitan areas affected by identity theft include: Phoenix, AZ; Las Vegas, NV; Miami, FL; San Francisco, CA; and Dallas, TX (2005)

- California had the most reported cases of identity theft with a total of approximately 45,000 cases of identity theft (2005)

- the most common method of retrieving information for use in identity theft is through lost or stolen wallets, theft of mail, dumpster diving, and information obtained through friends, family or consumer providers

- another common method of obtaining your information is by “stealing” it at a business that you may you frequent

New, Harder to Detect Form of Identity Theft

Synthetic identity theft occurs when bits and pieces of several people are used in order to create an entirely new identity. Information may come in the form of an address from one person, the social security number of another and employment or banking information from a third or fourth.

Your Damages resulting from Identity Theft:

In a study conducted of 173 victims of identity theft by The Identity Theft Resource Center specific damages were explored. In each case the victim’s damages included:

- an extended period of time to correct their credit status;

- 85% of the victims found out about the theft when they attempted to apply for a job or credit;

- victims are currently spending over 600 hours attempting to repair the damages to their credit

- victims are spending money in the approximate a amount of over $16,000 per victim to repair their credit

- it is taking longer to remove negative, incorrect or falsified information from their credit reports

- many victims equate the emotional impact of identity theft with that of a violent crime – in some cases similar to a rape as the violation can be that personal.

Identity theft is a serious crime. Damages result to individuals, banks, and businesses as well as families. Imagine going to purchase your new home to find out that your credit is damaged and now you are unable to. Imagine the time and money you will spend to correct the problems associated with identity theft. Millions of dollars and Hundreds of thousands of people in the United States and millions worldwide are affected each year by identity theft. Victims, both personal and business must use valuable time, effort and resources to correct the situation, which in some cases is beyond total repair. Damages are not only to your credit and your finances but also to your emotional, physical, and psychological well being.

Reporting suspected identity theft is essential to protecting yourself further and protecting others. Reports should be filed with local authorities, your State’s Attorney General’s office and the Federal Trade Commission. Consumers need to not only protect their information but by reporting efforts at identity theft may be able to stop it from happening in the future.

Consumers can report ID theft to the FTC by calling the agency’s toll-free number: 877-438-4338.

Pamela

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November 4, 2009

Identity Theft – Crime Wave of the 21st Century

Filed under: Criminal — Tags: Cousin, Credit Score, Crime Wave, Criminals, East Germany, Federal Trade Commission, Financial Responsibility, Fraud Protection, Matter Of Fact, Piece Of Paper, Protection Legislation, Thieves, Two Pieces, Victimless Crime, Whole Life — admin @ 5:31 am

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

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November 3, 2009

Identity Theft – What Should I Do if I’ve Become a Victim?

Filed under: Credit — Tags: Bank Accounts, Certified Mail, Credit Bureau, Credit Information, Creditors, Everyday Opportunities, Federal Trade Commission, Fraud Alert, Fraud Department, Id Theft Affidavit, Internet Service Providers, New Accounts, Social Security Number, Three Major Credit Bureaus, Victim Of Identity Theft — admin @ 4:54 pm

Cathy Taylor asked:

Identity thieves take advantage of everyday opportunities to discover your personal information and use it to commit fraud or other crimes. The good news is a victim of identity theft has more options today than ever before. According to the Federal Trade Commission (FTC), there are four important actions you can take to minimize the credit damage caused by circumstances beyond your control.

1. Contact any of the three major credit bureaus. Speak to someone in the fraud department and request that a fraud alert be placed on your credit report. As soon as one credit bureau confirms your fraud alert, the other two will automatically place one on your report as well. With a fraud alert in place, creditors must contact you before opening any new accounts in your name or changing any details of your existing accounts.

Then request a free copy of your credit report from each one. Review all of your credit information looking for unauthorized accounts, charges, or changes. Check the accuracy of your name, address, phone number, Social Security number (SSN), past employers, and any other personal information. Request any inaccuracies be corrected by notifying the bureaus by phone and follow up in writing by using certified mail, return receipt requested, so you will have documentation of all requests and responses by the bureaus. The addresses for each bureau are listed at the end of this article.

Continue to check your reports every few months, especially in the first year after you have lost your personal information.

2. Contact the creditors for the accounts that have been altered or opened without your permission. This includes bank accounts, credit card companies, lenders, utilities, phone companies, Internet service providers, and any other services that may be opened fraudulently. Contact the company’s fraud department b phone and follow up with a letter.

The FTC offers the “ID Theft Affidavit” to dispute new accounts, available at www.ftc.gov . To dispute charges on existing accounts, request the company’s fraud dispute forms.

If you suspect that a thief has been passing bad checks in your name, close the account immediately and notify your bank. Contact the major check verification services and ask that the retailers who use their databases stop accepting your checks for purchases. To find out if an identity thief has been writing checks in your name, call SCAN at 1-800-262-7771. The three major check verification services are:

• TeleCheck – Call 1-800-710-9898 or 927-0188.

• Certegy, Inc. – Call 1-800-437-5120.

• International Check Services – Call 1-800-631-9656.

3. The third step to take if you believe you are a victim of identity theft is to file a police report. Request a copy of the report for your records and to send to creditors for verification of the crime. Unfortunately, 61% of victims in 2004 did not notify the police of identity theft crimes.

4. Finally, file a complaint with the FTC to help law enforcement across the country track identity thieves and catch them. You will also be referred to other useful government agencies and consumer organizations to help you recover from identity theft. Contact the FTC in any of the following ways:

• Call the FTC’s Identity Theft Hotline at 1-877-IDTHEFT (438-4338);

• Write Identity Theft Clearinghouse, Federal Trade Commission, 600 Pennsylvania Avenue, NW, Washington, DC 20580;

• Or visit www.consumer.gov/idtheft .

5. If you have been turned down for a loan, lost a job, or possibly had to pay significantly more interest fees because damage to your credit score due to circumstances beyond your control, you may have a credit damage claim. Now with a newly developed process called Credit Damage Measurement, you can measure the financial loss you have sustained and as a result, receive fair compensation.

These five steps should resolve most of your credit problems after becoming a victim of identity theft. However, stay alert for new occurrences. Review your credit report every year and report any problems to creditors immediately both by phone and in writing. With diligence and a little patience, you can recover your good name.

As promised, here is the location and contact information for he three credit bureaus to report fraud:

• Equifax – Call 1-800-525-6285; write P.O. Box 740241, Atlanta, GA 30374-0241; or visit www.equifax.com for more information.

• Experian – Call 1-888-EXPERIAN (397-3742); write P.O. Box 9532, Allen, TX 75013; or visit www.experian.com for more information.

• TransUnion – Call 1-800-680-7289; write Fraud Victim Assistance Division, P.O. Box 6790, Fullerton, CA 92834-6790; or visit www.tuc.com for more information.

Lonnie

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September 26, 2009

The Young Victims of Identity Theft

Filed under: Relationships — Tags: Credit Accounts, Detective, Dumpster Diving, Epidemic, Federal Trade Commission, Identity Theft Cases, Local Police Department, Resource Center, Social Security, Social Security Numbers, Spotless Record, Student Loan, Theft Investigations, Unfortunate Distinction, Victims Of Identity Theft — admin @ 5:03 pm

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

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September 5, 2009

Identity Theft – Fastest Growing Crime In USA

Filed under: Criminal — Tags: Account Numbers, Bank Statements, Carelessness, Credit Card Bills, Crime Wave, Federal Trade Commission, Five Billion, Four Digits, Law Enforcement Organizations, Mail Theft, Paper Shredder, Quality Paper, Social Security Numbers, Trash Box, Trashed — admin @ 2:25 pm

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

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September 3, 2009

Benefits of Identity Theft Shield

Filed under: Finance — Tags: Attorney General John Ashcroft, Catastrophic Consequences, Credit Monitoring Services, Decade Advances, Epidemic Proportions, Federal Trade Commission, Financial Institutions, Fraud Experts, Identity Theft Shield, Kroll Inc, Pre Paid Legal Services Inc, Risk Consulting Company, Social Security Numbers, States Federal Trade Commission, Victims Of Identity Theft — admin @ 10:23 am

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

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August 11, 2009

Federal Laws Against Identity Thefts – How Awareness Can Protect You

Filed under: Personal Injury — Tags: Crimes, Federal Trade Commission, Fraud Complaints, Ftc, Identity Theft, Magnitude, Money, Precaution, Prey, Sake, Sign Up For A Credit Card, Tactic, Thieves, United States, White Collar Crime — admin @ 12:10 am

Abhishek Agarwal asked:

In the United States alone, this is the fastest growing crime. In 2002, the Federal Trade Commission or simply put the FTC reported 43 percent of the fraud complaints they received where for identity theft. With the 2003 report, the incidents reached close to 10 million.

For every five families, there is always one who will fall prey to these thieves. It is hard not to be a victim even when every precaution in the book has been taken. Even though it seems you have safe guarded your data, the thieves always manage to stay a step ahead.

Understand that everything you do leaves a trail. Whether you use your pin number, write a check, sign up for a credit card or even order something online, thieves, if they want, will get your information.

No matter how hard you try, there lurks the possibility that existing information can still find their way to the identity thieves. Be aware of this fact and cautious with whom you give your vital data out to. Knowing this tactic, can put you above those who just give out their information.

It has been estimated that people spend approximately $500 and more than 30 hours to resolve. Some cases begin from a credit getting stolen to a person’s identity being completely “kidnapped”. These crimes are hard to prevent. Because of this, identity theft is hard to correct.

Identity theft is considered a white collar crime. It is because the thieves get in touch with the person directly to steal the information by deception and lies. They will also try and get any money from them that they can.

This crime does not need face to face contact for the thief to steal your identity or your cash. The ID theft is not committed just for the sake of having it but rather using it for other criminal means including to commit fraud.

Until 1998, the federal law had not caught up with this type of crime. In fact, it wasn’t until that year, that cases of a bigger magnitude started to show up. It was then that people began to see they needed a heavier sentence imposed on those who committed the fraud in the first place.

Thanks to these numerous cases, the laws were changed so some of these could be used as prosecuting the thieves. Some were changed or enhanced to repair their credit reports or recoup their losses and reputations.

The primary identity theft statute is 18 U.S.C.

Sally

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