Travis Stone asked:




One of the greatest fears that many people have is that they’ll become a victim of identity theft. Most people just have the “oh, well, it won’t happen to me” attitude. For 1 out of every 5 people, that’s the wrong attitude to take. Which one of those five are you? The most common type of identity theft is credit card fraud, usually through account takeover. In this type of crime, the thief gains access to a credit card and then, quite simply, starts making purchases with it.

What makes this type of fraud an identity theft is that often the perpetrator will call the credit card company, bank, etc. and attempt to gain more information about the account’s owners using a technique called “fishing.” With this technique, which is old hat among private investigators, the thief poses as the account’s owner and attempts to change the account information, upgrade the account for more credit, make a cash withdrawal, or otherwise manipulate the account. With enough information, many thieves can use one account to get into several more. A debit card could lend access to checking, savings, and even mortgage accounts through the bank.

Most banks and institutions have safeguards in place to prevent this total takeover of one of their customer’s accounts, but the best prevention is to stop the thief before he can attack to begin with. To do that, you need to follow these 10 ways to prevent identity theft by credit card. Most of them are easy, no-nonsense security measures that you likely already take everyday as a part of your lifestyle. Others are just small habits you need to practice to ensure your credit’s safety.

#1: Carry Fewer Cards

Sounds pretty simple, but it’s amazing how many people walk around with five, ten, or more credit and debit cards in their wallets. This is excessive and is tantamount to wearing five pounds of gold and diamond jewelry. Eventually, someone will decide to mug you. The more cards you’re carrying, the easier it will be for a thief to take over your identity and fleece you for all the money they can. Reduce the number of cards that you carry to two. If at all possible, do not use a debit card at all as they’re the easiest to use by thieves to get cash quickly and easily.

#2: Watch Your Card

When you use your card at a store or restaurant where it’s handed to an employee or waiter to process for you, keep your eye on the card at all times. Never let the employee walk away with your card and then come back later. It’s not as uncommon as people might think for people like this to take advantage of their situation to copy card information or do a “false swipe” into a reader to record the information for later retrieval.

#3: Never Use a Debit Card Online

When you shop online, never use a debit card attached to your bank account. No matter where your shopping is taking place, debit cards are the primary target of thieves. Instead, use a closed account like a pre-paid card, a credit card (they’re better protected), etc. Companies like PayPal and others that offer cards that are separate from your checking account are popular choices.

#4: Keep A List of Cards

Keep a detailed list or photocopy of all of your cards (front and back). Know the account numbers, expirations, phone numbers for reporting, etc. Keep this list is a very safe and secure place in your home or bank. If your wallet is stolen, your house robbed, or you otherwise have one or more cards stolen, this list could mean the difference between a few minutes to report the theft and a few hours while you find the information and the thief goes on a shopping spree… on you.

#5: Keep Your Social Security Number To Yourself

Don’t ever give out your Social Security or account numbers on the phone or through the mail if you aren’t 100% sure that the person you’re talking to and the business they represent is legitimate. When in doubt, don’t give it out! If a business calls you, say the utility company, and asks for personal information for identification, tell them you’ll call them back. Use the phone number in the phone book or printed on one of your bills to call them-not a number the person on the phone gave you. This verifies that the person is who they say they are and eliminates “fishing.”

#6: Keep Your Receipts

When you make purchases by credit or debit card, keep your receipt. Do not throw it away in a public trash container or even in your home garbage can without first marking out the account number or shredding the receipt. Most stores now print only the last four or five digits of your account to protect the information, but you only know if they did when you look to see that they did!

#7: Do Not Write Numbers on Checks

When paying bills, DO NOT write your credit card (account number) on a check when paying the bill. If the check falls into the wrong hands, a thief now has two ways to take advantage of you (check plus card). Checks preprinted with your driver’s license number are also a bad idea.

#8: Watch the Mail

When a new card or fresh checks are coming, make sure you know when they’re expected and are there to receive them. Better yet, have them sent to a secure box like a PO box or similar.

#9: Read Your Account Statements

Read your account statements thoroughly and every time they come to you. Some thieves (especially online) will steal a card number, use it once, and then forget it. This results in the much lower likelihood of them being caught. Many of the frauds never even get noticed as account holders often look only at the “total owed” line on the account and don’t read through line items.

#10: Order a Credit Report

Order a credit report from the three bureaus yearly (at least). They are required by law to give you one free report per year, so take advantage of it. Read through it and make sure that there are no credit accounts you are unaware of, no claims on your file that you didn’t authorize, etc.

Arthur

Randy Vezina asked:




When a child is born, a parent may apply for a Social Security number for that child. A child’s Social Security number is very much sought after by identity thieves. The child identity thief could be a family member (uncle, aunt cousin), another adult who has access and is allowed in your home, someone who has stolen your mail or hacked into your computer. We think we know who the child identity thief could be, but we don’t.

Most parents apply for the baby’s SSN so that they can claim the child on their taxes and you must submit the SSN on the official tax forms, so now, anybody who has the means to see that tax form can copy the child’s information. The child’s identity could be stolen at the hospital or at a health professionals’ office. What about the dishonest legal professional who sells the child’s identity to an unscrupulous client. It does not matter what profession a person is in, they have the potential to be dishonest.

The thief could be anybody. Typically, your not going to check your child’s credit rating (why would you), so your not going to know their identity has been stolen. Now the identity thief has more than a decade to create a new identity for him and gain credit cards, loans, cell phones, utilities, bank accounts, drivers license etc. etc. The crime is not discovered until your child has grown and applies for her first education loan, apartment, credit card or job! By now, the trail has become ice cold and your child’s credit record has been cut to ribbons. In all likelihood all of the accounts opened in her name have been purchased by a collection agency.

It would be very difficult for your child to repair what has happened because of the difficulty in tracking down the original loan applications and transaction records if the original account has been through several hands because of companies merging and being bought-up. Our children need to be taught about the dangers of providing their personal information and your personal information when they are logged onto the net. Today’s kids have a burning desire to log into the many chat rooms and social networking sites and they may be asked for personal information on a registration screen or by an identity thief.

The preventative identity theft company, LifeLock, has already launched the first-of-its-kind Children’s ID Theft Prevention Program. Now, LifeLock’s subscribers can add the children’s ID theft program to their existing full suite of ID theft preventative services. The children’s theft prevention program is for minors 16 years and younger. A recent study in the state of Utah revealed that 1,800 Social Security numbers assigned to children 12 years of age and younger had been forged, according to the state’s Identity Theft Task Force.

The Federal Trade Commission (FTC) has advised that between 5% and 7% of identity theft victims are under the age of 18 and if you include college-aged individuals, it is almost 20%.

“Due to the extreme increase in ID theft among minors, we have taken the initiative to develop a first-of-its-kind program to protect children,” said Todd Davis, CEO of LifeLock. Tracking credit bureau activity and monitoring depository accounts are considered standard when dealing with identity theft. But Davis insists that working with the Social Security Administration and identifying work activity from unusually young minors is a red flag that warrants further investigation. “LifeLock is in the process of working with local and federal agencies, as well as leaders in Washington D.C. to lead the efforts in protecting our children from identity theft. This is a critical aspect of our overall service,” continued Davis. “As the Utah investigation demonstrated, sadly, there are numerous victims yet to be discovered.” LifeLock subscribers can pay $10 per year for the Children’s ID Theft Prevention Program through which LifeLock will regularly audit the credit bureau, monitor depository banking accounts, and track any unusual “work activity” with the Social Security Administration on behalf of LifeLock’s youth customers. All minors enrolled in the program will also benefit by LifeLock’s standard $1 million guarantee.

Francis

Asher Aw asked:




Identity theft results in having a charge on your account that you did not make. Someone had hijacked your account and made a purchase of sorts, thus resulting in you having to deal with the situation.

A simple step that you can take is to ask your financial institution to add a password to your account. This way, the identity thief is prevented from changing the billing address on your account. Keep the password to yourself and take efforts to not let your password be something easy to guess.

If this step was not taken and you find yourself in the unfortunate situation of having to deal with the fraudulent charge, give a call to your financial institution immediately. Most of the time, you need to notify either the bank or the credit card issuer within 30 days to be protected legally from the fraudulent charges.

Another simple step is so simple but an astonishing number of people still don’t do it. Simply don’t carry items like your social security card in the wallet together with your drivers license, your credit card, your ATM card together with a list of all your passwords and PIN numbers. If for some reason that you drop or lose your wallet and someone picks up your wallet, you’re giving him or her an excuse to go on a spending spree.

Whenever you receive your bills or anything that contains your personal information, make it a point to tear it up or shred it – don’t just roll it into a ball and toss it into the bin. People can actually take the information which you have simply thrown into the bin and piece it together to attempt an identity theft.

Relieve yourself of unnecessary headaches by taking these small steps to prevent any attempts of identity theft.

Emma

Andy Mitchel asked:




Identity theft is a very common and serious criminal act. The rates of this crime are increasing all the time, and therefore it’s an important subject to discuss. A person’s financial situation can be ruined as a result of identity theft. Arguably the most devastating part is that often the victim had no idea that it was happening to them. Thieves can commit this crime in multiple ways. One such way is by digging through the trash in order to acquire personal information

The information criminals need to steal your identity includes your name, date of birth, and address. When they are able to get what they need, they can begin applying for credit cards and open accounts so they can accumulate debt under your name. Knowing that your identity is stolen is difficult to know right away, and most don’t know it’s happening until damage has already been done.

Is Punishment Harsh Enough?

In the past, criminals would essentially get a slap on the wrist and be free to commit the crime once again. The penalty has become more harsh, as now they can face 25 years in prison for such charges. Perhaps now some will think twice before stealing a person’s identity.

Prevention

However, a thief can’t be charged with committing a crime until they have been caught. People must be find an identity thief by knowing what to keep an eye out for. Signs that you are a victim of identity theft include transactions on your bank statement and credit account that are not supposed to be there. Always pay careful attention to what you are throwing away, as this is one of the most important tips to preventing theft.

Wayne

Mike Selvon asked:




It is a sad state of affairs when a senior citizen finds that his or her identity has been stolen through a scam. Perhaps they were not educated on preventing identity theft because they did most of their business and personal transactions in person.

But with more turning to the internet to stay connected, they are left open. Even sadder than that are the children who have had their identities stolen from institutions that are supposedly safe. Identity theft prevention has to cover children now just as much as adults and senior citizens.

One way to begin identity theft prevention for your child at an early age is to be aware of when and how you use their social security number. Most schools need to have their social security numbers but far too often teachers will have you fill out personal information sheets for the teacher’s use in the classroom.

You do not have to list your child’s personal information on these sheets. If the teacher asks for the child’s social security number, then inquire why they need it. The same goes for daycare centers, activity groups or any organization that asks for it.

If the group claims that they need it for identification purposes, then you can always go to your local Department of Motor Vehicles and ask for an identification card. Just explain to the organization that preventing identity theft is of great importance to you.

There are countless news stories of an identity thief using a child’s information to create a new identity for themselves. The information provided to the organization could be easily stolen. You can do your part to stop identity theft before it begins by just using this little bit of common sense.

If you are worried that your child’s information has been compromised by a loved one or a care giver, then you need to report identity theft right away to the proper authorities. The identity thief needs to be caught and then appropriately punished for his or her actions. This will help you correct all of the information on the credit reports. Yes, even children who have had their identity stolen will have a credit report.

Identity theft prevention begins at home. Your job is to protect your child from danger and identity thief is definitely a danger to your child’s future. Keep your their information private and be careful about who has access to it. The more you do now; the better off the child will be later down the road when it comes to their financial future.

Ramon

conclips asked:

Interesting segment from the Today Show If your wallet is stolen: File a police report; Start keeping detailed records including the names, dates, and phone numbers of people you’ve reported this theft to; Report all your credit cards as stolen so that you are issued new cards with new account numbers. (Most credit card companies will automatically place a fraud alert in your credit report on your behalf when you notify them of a stolen card); FREEZE all three of your credit reports–do not rely on the theft alert alone, as it will not fully protect you from having accounts opened in your name, that is something only a full credit report freeze will do; Subscribe to a credit monitoring service (if it is available with a frozen report). These services supposedly provide insurance in the event you are a victim–not many people can afford to lay out $50000 in legal fees and that is where ID Theft Insurance will come in handy, assuming your homeowner’s policy doesn’t already offer this type of coverage. MYFICO, Equifax, Transunion and Experian all offer credit report monitoring (some of these services are made available to those who’ve already frozen their files). Also, as in the case of this victim, you may want to alter your banking habits. The thief in this case supposedly managed to withdraw funds and write bad checks using the victim’s driver’s license. Sign up for email alerts on all your accounts so you can catch unusual activity before it gets out of hand. Get a Motor …

Angel

John Parham asked:




You are at a greater risk when you receive a letter in the mail from a company that has access to your personal information stating you’ve been a victim of a data breach. While these letters are, unfortunately, arriving in your mailbox everyday, it’s important to pay close attention to these letters, documents or anything that has personal information that could damage to you for life. The locking mailbox insert is a cheap effective way to help prevent identity theft from your mailbox. Did you know that identity theft victims spend 3 to 5,840 hours repairing damage done by your identity being stolen? The average hours, victims spend repairing the damage caused by identity theft is 330 hours. The locking mailbox insert is a great deterrent to keep your identity safe.

Practical and emotional cost of identity thief

47 percent of victims have trouble getting credit or a loan as a result of identity stolen

19 percent of victims have higher credit rates and 16 percent have higher insurance rates because of identity stolen

11 percent of victims say identity theft has a negative impact on their abilities to get jobs

70 percent of victims have trouble getting rid of (or never get rid of) negative information in their records

40 percent of victims experience stress in their family lives as a result of displaced anger and frustration over their identity stolen

45 percent of victims feel denial or disbelief

85 percent of victims anger and rage

45 percent of victims feel defiled by their identity stolen

42 percent of victims feel an inability to trust people because of the identity theft

60 percent of victims feel unprotected by the police. A locking mailbox insert will help prevent your identity from being stolen your mailbox. Statistics show that most likely you will know the people who will still your identity.

43 percent of victims believe they know the person who stole their identity

14 to 25 percent of victims believe the impostor is someone who is in a business that holds their personally identifying information.

In closing here a few tips on how to reduce your chance of identity theft from your mailbox. First pay your bill at the post office. Never leave your unpaid bills in your mailbox. Second be diligent about checking statements. This actually has two benefits. First, if you are diligent about checking your bank and credit statements each month, you will be aware if one of them doesn’t arrive and that can alert you that perhaps someone stole it from your mailbox or while it was in transit. Second, you can make sure that the charges, purchases or other entries on the statement are legitimate and match up with your records so that you can quickly identify and address any suspicious activity.

Clifford

Amy Zhang asked:




Worried about identity theft? Then you must consider getting identity theft prevention help. What does identity theft prevention help really means? Most companies who advertise that they help prevent identity theft actually do not. What they do instead is to make it much more difficult for identity thieves to use the personal data that they have stolen, thus offering some form of protection.

To be able to prevent identity theft, you must first know how identity theft happens. Remember the last time you applied for a credit card? Or how about that time when you bought something online? What did you do in both instances? Most likely, you have filled out forms in the two situations mentioned. And what are the things that you have written in the forms? That’s right, basic important information abut yourself. You must understand that every time you leave important personal information about yourself, you are putting yourself at risk of being a victim of identity theft. This is because the information you have left can be used by identity thieves without you knowing it.

Some of the scary things that an identity thief can do includes using your credit card or even your savings in a bank without your knowledge. Now this is were an identity theft prevention help would be useful. The thief may be able to charge things on your credit card but at least you would know about it immediately if you have identity theft prevention help.

identity theft prevention help can also stop thieves from setting up new accounts using your personal information. Imagine what you would feel if you will suddenly get calls from collection agencies asking you to pay for something using a card that you know you didn’t apply for? You would feel angry and frustrated of course. Worse, identity thieves can ruin your credit rating, something that you have spent years protecting. identity theft prevention help can assist you in dealing with collection agencies and thus in helping rebuild your credit rating.

Identity theft prevention help can also assist you in dealing with the police with regards to investigation and issuing warrants. Without help, you would have to do all the follow ups and filing at the police station yourself.

If you think it is expensive to hire identity theft prevention help, think again. Most of these companies charge as little as $10 a month. Now that’s a small price to pay for your security and peace of mind.

Glenda

Gary Bunn asked:




Identity theft and identity theft prevention is a very hot consumer issue for 2008. Max Black is an Identity Theft expert who has an added edge over other industry Guru’s – He’s also a victim of massive Identity Theft that virtually destroyed his life. He’s spent the last year researching new and evolving techniques which identity thieves are currently using to steal your information, and has devised a set of defensive strategies you can use to prevent your identity falling into the wrong hands.

The ‘Max Black’ Report is a unique e-book that provides you with a complete armory of defensive techniques you can begin using instantly for free, unlike subscription based services that will cost you a fee every single month. Black has taken a novel approach to his research by interviewing and involving victims, industry watchdogs and identity thieves themselves in developing the e-book, to bring you the most up to date information available.

The e-book is extensively written and covers each modern ‘threat’ in depth, explaining how the method works, how the thief goes about it and also the impact of the crime. Max Black then offers substantial guidance and advice on how to protect yourself and avoid becoming a victim of each particular technique. None of the defensive techniques involve the reader having to purchase anything more, which is a nice change!

I found the most useful chapters of the ‘Max Black’ Report included:

The ‘Dumpster Diving’ Technique

The ‘Mail Interception’ Method

Phishing Attacks

The ‘PC Backdoor’ Route

The ‘Skimming’ Method,

Profile ‘Stripping’,

The ‘Check Washing’ Method

The 2008 ‘Hotel Threat’

I’ve read several books, both on and offline on the subject of identity theft and although each one has proved useful, I am yet to find content as powerful as the ‘Max Black’ Report. I think the difference between this and any other publication is that Black has actually suffered as a victim of identity theft and this has given him a real insight into the crime and also an understanding of how it feels to be a victim too.

Black has chosen to write the book in an informal, casual style which really makes it easy to understand the points he’s covering. I’ve found that some other publications on the topic are very formally written and this can make it difficult to understand the terminology and explanations. Another pleasing point of the report is that Black assumes the reader does not know anything about Identity Theft, so each chapter is covered in great details ensuring a complete and thorough understanding is achieved.

One point I would make is that the price initially put me off purchasing. It is not an expensive e-book, on the contrary, it seemed too cheap to have any real valuable content. I’m surprised to say that I was extremely pleased with the effective content and defensive strategies included. Secondly the author does not hide the fact the e-book is only around 30 pages long. He qualifies this point by stating the content is concise, informative, and packed full of useful content, unlike other e-books, which are bulked out with filler text to make the publication seem larger. I can honestly say I could not find any filler text used at all.

Leslie