Jahanzaib Hassan asked:




Identity theft is the growing national epidemic. There are literally hundreds of ways you can loose your all important credit ratings through identity theft, as it happens with a hundreds of thousands of Americans every year. There are more numbers of identity theft cases reported than there are robberies filed. Preventing identity theft is a simple matter of playing it safe. Identity theft protection relies on the old adverb better safe than sorry. Preventing identity theft is the key to identity theft protection. Here are certain guidelines for preventing identity theft and the 3 identity theft protection laws:

Identity theft protection Law # 1:

1. Protect your Social Security number and never say it aloud in a public place.

2. Never give out your SSN, credit or debit card number or other personal information over the phone, by mail, or on the Internet.

3. Never carry any card in your wallet that contains the Social Security number (SSN), unless required.

4. Always, take credit card receipts with you. Never toss them in a public trash container.

5. If the state of your residence uses the SSN as the driver’s license number, it is strongly recommended that you contact your Department of Motor Vehicles and request a different number.

6. Never permit your SSN or driver’s license number credit card number to be written onto your checks.

7. Do not have your SSN or driver’s license number printed on your checks.

8. Ask your financial institutions to add extra identity theft protection to your account.

9. Shield your hand when using a bank ATM machine.

10. Always use a gel pen for issuing checks.

11. Never have new checks mailed to you.

12. Never leave envelopes containing your checks anywhere, when you pay bills.

13. When creating passwords and PINs, do not use any characters that relate to personnel information.

14. Never record anything in your wallet. Memorize all your passwords.

15. Carry minimum number of credit cards, debit cards and avoid carrying your birth certificate, Social Security card or passport in your wallet except when needed.
Identity theft protection Law # 2:

16. Be proactive and shield all your data in a safe place. Maintain a list and photocopies of all your credit cards, debit cards, bank accounts, and investments and telephone numbers of the customer services and fraud departments, in a locking cabinet or safe along with all your personal information and canceled checks.

17. Use credit cards instead of debit cards to shop online and automate as much bill-paying as possible from your checking account.

18. It is important that you install a locked mailbox at your residence for enhanced identity theft protection.

Identity theft protection Law # 3:

19. Review all your financial data as often as possible. Federal law entitles you the right to one free credit report each year from the three credit bureaus: Equifax, Experian, and TransUnion; use it. If you are a victim of identity theft, your credit report will indicate that.

20. Look at your Social Security Personal Wages and Benefits, Approximate Statement each year to check for deception.

21. Review credit card, bank and phone statements, including cellular phone bills every month.

22. Maintain services of Identity Theft Protection and Recovery Company. Better safe than sorry.

23. Identity theft protection includes protecting your PC from hackers. Load some sort of blocking software on your home systems for preventing hackers to obtain personal confidential and financial data from your hard drive.

24. Update your anti-virus product, everyday.

25. Always protect your files through passwords that contain sensitive personal data.

26. If doing online transactions for shopping, only trust on companies that provide transaction security protection.

27. Never just delete files that contain personnel information, make sure to remove this data by using a strong “wipe” utility program.

28. Never respond to spam email messages.

With the emergence of new technologies, new markets and new jobs; thieves have found a new commodity to steal. Your identity is worth a lot of credit. Victims of identity theft have found it the hard way. Identity theft protection is the only means to be safe from the pain and anguish of having loans accredited to your name. Preventing identity theft requires a proactive approach. Better safe than sorry.

Darren

lexisnexisnetwork asked:

Learn how to reduce compliance risk and prevent losses due to identity theft. Identifying and acting on instances of identity theft is no longer “just another CIP policy” – it’s the law. With modifications to the Fair and Accurate Credit Transactions Act effective November 1, 2008, the Identity Theft Red Flags Rule requires financial institutions and other credit-granting entities to implement a written Identity Theft Prevention Program to help detect, prevent and mitigate identity theft in connection with the opening of certain covered accounts or certain existing accounts.

Jill

Julie Knubley asked:




Businesses and corporations are relying more and more on technology to store and maintain data, including customer records; and the risk of identity theft is rapidly increasing. On October 31st of 2007 the Joint Committee of the OCC, Federal Reserve Board, FDIC, OTS, NCUA and the Federal Trade Commission passed the final legislation for Section 114 of the Fair and Accurate Credit Transactions Act of 2003 (FACTA), also known as the Red Flag Rules. Red Flag Rules were designed with financial institutions, dealerships and creditors in mind, to take extra steps in order to detect, prevent and mitigate identity theft. These rules are to be used to identify “Red Flags” signaling possible identity theft situations. This written identity theft prevention program is to be implemented with the opening of certain accounts or existing accounts. Now, financial institutions and creditors must update their programs periodically to ensure they reflect changes in risks to protect customers from identity fraud. In other words, the program must remain pliable enough to handle new threats as they emerge.

The rules offer 26 examples of suspicious behavior that financial institutions and creditors can use as Red Flag guidelines. Some examples of “Red Flags” are: alerts, notifications, or other warnings received from consumer reporting agencies or service providers, such as fraud detection services, the presentation of altered or suspicious documents, suspicious personal identifying information, unusual use of, or suspicious activity related to the account or notice from customers, victims of identity theft, or law enforcement authorities regarding possible identity theft in connection with covered accounts held by the financial institution or creditor. The idea is to prompt banks and creditors to go into “authentication mode” and determine whether fraudsters are trying to apply for credit in someone else’s name or hijack someone else’s accounts.

Wondering if these new rules apply to you and your business? Red Flag Rules apply to all banks and credit unions, thrifts, mortgage lenders, U.S. branches of foreign banks and lenders, utility companies, telecommunications companies, health care companies, auto dealers, debt collectors and municipalities. The Red Flag Rules apply to each “covered account,” which is a customer account involving multiple payments or transactions; such as a credit card account, mortgage loan, car loan, margin account, cell phone, utility, and checking or savings account, for which there is a foreseeable risk of identity theft. These covered accounts are primarily for family, personal, or household purposes. On the other hand, a single, non-continuing transaction, where no ongoing relationship exists, is not a covered account. The Red Flag Rules may also apply to some of your business customers. Credit reporting agencies are exempt from the Red Flag Rules; however, Experian is getting involved at some level.

The identity theft protection programs must include policies and procedures for listing the “Red Flags”, detecting “Red Flags” of identify theft, responding to any such Red Flags in a manner that will prevent or mitigate the identify theft, and as I mentioned before, updating the program. The identity theft program must be managed by the Board of Directors or senior employees of the company if there is no Board of Directors. These companies must also maintain up-to-date training for these programs with on-going education.

The required institutions have until November 1, 2008 to come into full compliance or be subject to penalties. Proponents say Red Flag Rules will standardize how credit-issuing entities respond to suspicious activities regarding your accounts. I believe these new rules will be the road map for protecting customer information and helping to fight back against identity theft.

Red Flag advocates say that banks and creditors with incompetent fraud prevention programs will eventually be exposed by litigation and negative publicity. The public disclosure of identity theft will create a sense of urgency for these companies to be up to par and consumers eventually benefit because of the new higher standards. Because of these new rules, employees of these institutions may become more aware in spotting identity fraud and stopping the thieves in their tracks. Keeping in mind that identity theft is not preventable, I do think that making these rules mandatory is a great stride in the right direction.

Joshua

conetrix1977 asked:

On November 9, 2007 the OCC, Board, FDIC, OTS, NCUA and FTC (the Agencies) jointly issued the final rules and guidelines implementing section 114 of the Fair and Accurate Credit Transactions Act of 2003 (FACT Act) and final rules implementing section 315 of the FACT Act. The rules implementing section 114 require financial institutions or creditors to develop and implement a written Identity Theft Prevention Program (the Program) to detect, prevent and mitigate identity theft in connection with covered accounts. CoNetrix is offering an online tool which follows the Red Flag rules and guidelines and creates an Identity Theft Prevention Program for you. Simply log-in, complete a series of questions and download your customized Program document in Microsoft Word format.

Ramon

Jon Arnold asked:




Do you use identity theft prevention measures? If not, you may want to start. Identity theft is one of the fastest growing crimes of this century and more than 10 million people find themselves a victim of it annually. The vast majority of this is simply not being cautious with who they share their personal information with.

If you discover that you have become a victim, you can probably anticipate paying at least $500 in cold hard cash to get the problems corrected. This is real money, and does not even count the 80+ hours of your personal time that you will also need to invest in writing letters, sending faxes, making phone calls, and trying to convince very skeptical debtors that it was not you that racked up all those charges. As these thieves continue to get smarter, you must also keep up on what is going on for the best identity theft prevention measures that you can use.

Everyone has heard that one of the best ways to not become a victim is to shred all mail that comes into your home. This is a great first step. Make sure that you use a shredder that cross-cuts the paper, since this will completely alleviate the ability to put the document back together. One often overlooked item to shred is magazines. Many magazines have preprinted order forms inside that have your name and account number on them, so tear off the address label and the order form before you throw them out.

The government has become aware of the prevalence and severity of this crime and has implemented some legislation aimed at identity theft prevention. The first thing is allowing you to get a free credit report once a year from each of the credit bureaus so that you can see activity on your account and identify activity that should not be there.

The credit reporting companies have also gotten into the act to help you prevent this crime. One way is to send them an “opt-out” which means that you no longer want any banks or financial institutions to mail you offers, even if you qualify. This is a great idea, especially because you may be tempted to sign up for what may appear to be great offers and then find yourself with financial problems due to over-extending yourself.

The credit bureaus also allow you to request a “credit freeze” on your account which will completely freeze your report. What this means is that nobody can run a credit report on you without your express permission. To get permission, it is a somewhat difficult process, and most identity thieves will not bother with this since there are so many targets that are much easier.

If you still feel vulnerable, you might consider buying identity theft protection. Two popular ways are either hiring a company that monitors you credit report and notifies you of any changes or there are companies available that will help you prevent it to begin with. Either type of company can be found online and charge a monthly fee for the service.

The crime of identity theft continues to grow every year, so the ball is in your court to take preventive measures. Be cautious of who you share your personal information with, both online and offline, and implementing these tactics can very well save you the huge time and expense involved with fixing the problem if you become a victim.

Bernard

Keith Londrie asked:


Identity theft crimes are not new, but they have become more pervasive in the past decade. One of the most insidious forms of white-collar crime, identity theft is a federal offense under the Identity Theft and Assumption Deterrence Act. It occurs when someone deliberately assumes your personal identity to impersonate you in a legal sense. There are people out there who are malicious and want to mess your life simply because they can. Businesses and financial institutions that lose $52.6 billion each year are under tremendous pressure from consumers to tackle this problem.

Last year, identity fraud crimes topped the list of complaints reported to the Federal Trade Commission (FTC), the leading governmental agency offering identity theft help, for the fourth consecutive year. The FTC collects complaints about identity theft from consumers who have been victimized. Although the FTC does not have the authority to bring criminal cases, it can offer identity theft help by providing information to assist the victims in resolving the financial and other problems that can result from this crime. As additional identity theft help, the FTC also refers victims complaints to other appropriate government agencies and private organizations for further action. The support of these knowledgeable resources expedites recovery, while enhancing your peace-of-mind.

Accurate and up-to-date information is the most critical element to minimize risk. For this reason, Federal Trade Commission recently launched an identity theft help web site called annualcreditreport where all consumers are eligible for a free copy of their credit reports. In order to effectively respond to suspected ID fraud you should place an identity theft alert in one of the three consumer reporting agencies and that agency will notify the other remaining two. These agencies are: Equifax at 1-800-525-6285, TransUnion at 1-800-397-3742 and Experian at 1-800-680-7289. These credit reporting agencies can also be found online.

The ID Theft Clearinghouse managed by the FTC is a tool designed to coordinate law enforcement efforts in the United States. But, in the end, local law enforcement agencies like the police and district attorney end up dealing with most identity fraud cases. If you have been a victim of identity fraud, it’s these local agencies that will mostly likely offer identity theft help.

It would also be a good idea to study some of the different methods of identity theft so that you can effectively combat them. Do things like shredding your important documents with any account information or identifying information.



Nellie

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.



Carolyn

Keith Londrie asked:


“Good people do not need laws to tell them to act responsibly, while bad people will find a way around the laws.” Plato.

Identity theft, one of the fastest growing crimes in America, is a federal crime under the Identity Theft and Assumption Deterrence Act. Bad people or con men usually find ways to get around this law. Identity fraud occurs when a con artist illegitimately uses your identity to make a frightening number of financial and personal transactions in your name, leaving you – the ID theft victim, responsible for what might turn out to be a mind-boggling turmoil in your life. Last year ID fraud crimes topped the list of complaints reported to the Federal Trade Commission (FTC), the governmental agency addressing the problem of identity fraud, for the fourth consecutive year.

The FTC estimates that ten million people are victims of ID theft each year. Perhaps the only people minting money are the conmen and identity theft lawyers! Determining the exact scope and financial impact of id theft on people and businesses is difficult. According to a survey conducted by Privacy Right Clearing Group, victims spend from $50 to $2000 on costs related to ID theft, not including identity theft lawyers’ fees. Since ID fraud is a complex crime you may not be able to clear your name as fast as you would like. Bureaucratic financial institutions move slowly, partly to protect you. But if ID theft recovery procedures fail to resolve the problem, you should get in touch with identity theft lawyers. Credit issuers and reporting agencies are sometimes slow in responding to complaints from consumers. The threat of lawsuits can provide some impetus.

If you believe you have been a victim of identity fraud and all steps to restore your name and credit fail, contact top identity theft lawyers in your area immediately, to minimize the damage to your personal and financial accounts, as well as your credit report and reputation. Thanks to the nature of the crime, most identity thieves are never found. So, in order to clear your name, you patiently need to work with the law enforcement agencies and identity theft lawyers, assisting them when you can. Remember, justice moves slowly, and ultimately you will be proven on the side of right, and your life can go return to normal. This is usually a slow process, but it is a necessary evil we all live with.



Julia

Keith Londrie asked:


Identity theft, one of the most insidious forms of white-collar crime, is a federal crime under the Identity Theft and Assumption Deterrence Act. It occurs when charlatans steal your personal and/or financial information to use your credit accounts, tap your bank accounts, get new credit in your name, file fraudulent tax returns, get cell phones in your name, access your insurance benefits, and so on. When someone steals your personal and financial information, your life may become a living hell, particularly if you don’t realize what has happened right away and the imposter has siphoned off funds using your name. This makes adopting strategies for identity theft prevention all the more essential. The steps to take for prevention are really simple.

Identity theft crimes make headlines more and more every day. You hear about them on the news or read about them in the papers. The Federal Trade Commission, the leading governmental agency addressing the problem of identity fraud, has reported a dramatic increase in the incidence of this crime. Recently, FTC released a survey that revealed identity fraud claimed a whopping 27.3 million victims over the past five years and result in over $53 billion annual losses to businesses and financial institutions. Accurate and up-to-date information is the most critical element in any identity theft prevention measure. For this reason, Federal Trade Commission launched a website annualcreditreport where all consumers are eligible for a free copy of their credit reports. By getting a free copy of your credit report you should be able to spot suspicious activity.

The old adage “Prevention is better than cure”, is very much applicable for identity theft prevention. While state governments, local and federal law enforcement agencies, and private organizations are taking new steps to minimize this threat, it is also crucially important for citizens to take responsibility for protecting their personal information. As an identity theft prevention measure, individuals can hire credit-monitoring services that alert them when there are changes in their credit report. Proper disposal of personal information and other sensitive material is a vital identity theft prevention technique. This could be accomplished by shredding documents. Do not allow intact documents to be thrown in garbage. To thwart phishing attacks, do not reply or click on links in the email that asks you for your account or billing information. Instead, contact the company cited in the email by telephone or by website you know to be genuine, to verify the contents.



Darryl

Perry Heath asked:


The numbers on identity theft demonstrate how many thousands of people are affected, and these statistics also show that large numbers of dollars are lost per annum. The banks and financial institutions lose huge amounts of money, and individual people lose vast sums of money and reputations. Both lose time that cannot be recovered investigating the crime and trying to redress the damage done.

The troubles and funds are so staggering that people must take every precaution to protect themselves from the consequences. Identity theft prevention must be front and foremost on the priority list of individuals and institutions.

Identity theft prevention is of such high importance because the troubles caused by this hideous crime can drag on for many months and years after the occurrence of the crime. The individual involved can cancel their credit cards immediately, and their sums of money can be restored to their accounts relatively fast, but the effects could last for years.

Folks might not even be aware for years all of the effects after they become casualties of identity theft. Everyone should take positive steps toward identity theft prevention. The primary measure in favor of identity theft prevention must be to protect your personally identifiable information from the perpetrators of these crimes.

Everyone should know which items of personal information they should protect to elude its revelation to the criminal mind looking for it. Social security numbers and bank account numbers must be on the list of items to ensure identity theft prevention. These numbers must never be disclosed to people except for official reasons.

These numbers should never be said out loud where other people are around. In other words, don’t give out your social security number at the bank where other people can hear. Identity theft prevention requires that you do not give out your passwords to important accounts.

Other pieces of information must be protected, but these items are not completely as important as the account numbers, social security numbers and passwords. Everyone should protect the information that arrives through the post. Any mail item that contains account numbers, passwords and social security numbers must be fully destroyed before they are disposed of.

Criminals go through the garbage to gather important information. These criminals will put together pieces of mail that they get from the refuse. Identity theft prevention demands that everyone circumspectly monitors the information they put out on the internet. These thieves have the means to trick folks into revealing their private information.



Gladys