Identity Theft Crisis

Protect your kids from the risks associated with identity theft. Children often fall prey to identity fraud, and the numbers of young victims grows every year, according to the Federal Trade Commission (FTC). There are several simple tips you can use to protect kids from identity theft.

Why Kids Are Targeted by Identity Thieves

Kids are easy targets for identity thieves. By law, children can?t apply for credit cards, loans or other lines of credit until they are 18. That gives identity thieves many opportunities to steal a child?s identity and use it freely to open lines of credit. In addition to random strangers stealing a child?s identity, unfortunately, unscrupulous family members also often target them.

Children Feel Effects of Identity Theft When They Venture Out in the World

Children who are identity theft victims feel the pain inflicted by the crime when they try to establish a credit history. Applying for a loan or a credit card, children and their families are often shocked to learn that their child has a poor credit history, even though they?ve never had a line of credit. A poor credit score can prevent kids from getting the jobs they want, obtaining credit cards, loans and more. Although justice is on their side, it can take years to clean up a lifetime of identity theft.

Protect Your Kids from Becoming a Victim of Identity Theft

Adults can protect kids from identity theft by taking a few safety precautions. Shredding paperwork from doctors and other entities that list a child?s Social Security number or date of birth can help protect children from identity fraud. Credit card and loan offers that arrive in the mail addressed to children should be addressed with the company sending the offer, so they know that they are sending items to minor children. Social Security cards and other personal information about children should be safely stored to avoid the risk of identity fraud.

Children Identity Fraud Repair: What to Do if the Worst Should Happen

If a child becomes a victim of identity fraud, there are a few things you can do to help them repair their credit history and regain their identity. Their Social Security number should be changed and a police report should be filed immediately. Credit card companies, lenders and collections agencies associated with the phony identity should be notified immediately about the identity theft.

Reduce the risk of identity theft with credit monitoring . Credit monitoring provides an added layer of protection against identity fraud with up to date information about credit scores and details of unusual activities on a credit report.

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Identity theft existed well before the Internet became established, but the ease with which information can be harvested from the World Wide Web has seen the medium used more in those types of crime. However, it is still traditional methods that account for most identity theft crimes, such as stolen or lost purses or wallets.

In addition to identity theft there is also the phenomenon known as identity fraud; however, there is a subtle difference. The latter involves using stolen or misappropriated documents to obtain goods or services by deception, whereas identity theft involves assuming the identity of another person without their consent, and once established as the victim then obtaining goods and services in that person?s name.

Another popular way for someone committing fraud to pass themselves off as someone else is to produce documents containing the victim?s name and address, such as domestic bills, bank statements and other correspondence. Regardless of how the terms are coined there is very little difference when it comes to the impact it has on the victim. In extreme cases it can take years to recover from having your credit record trashed by identity fraud, but at the very least having your identity compromised is distressing and extremely inconvenient.

There are plenty of actions that you can take to maximise the chances that you will never become a victim of identity theft or fraud. If you do unwittingly become a victim having access to identity fraud assistance could save you an awful lot of grief.

But, prevention is better than cure. First, buy a shredder. Avoid falling victim to the sort of scam where your sensitive documents – such as bank statements and utility bills – are stolen from your rubbish and used by the thief or other third party to impersonate you. In fact, do all that you can to ensure they are destroyed by shredding, before they are thrown away.

Secondly, make sure that when you are out and about you take good care of your handbag or wallet. Never leave it unattended, as this can only lead to the potential of it being stolen and your driving licence and credit cards may be used to perpetrate identity fraud.

Lastly, make sure that you are aware of the latest Internet phishing scams and never give out your banking or other information to people you do not know. Never share any passwords for online banking and try to avoid logging on to such services in public areas such as libraries and Internet cafes, as you have no idea about the security of the devices that you will be using.

If you follow such basic tips then you can significantly prevent the easy routes available to steal your identity.

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Identity authentication is a component of identifying identity fraud risk. Advances in technology through fingerprint biometric services have lead to biometric verification becoming a potential tool in identity verification.

What is identity authentication? The authentication process involves validating the identity presented is the actual person. It goes further than typical identity verification and seeks a confirmation that the person presenting the ID accurately is the person being represented by the ID.

Beyond Paper Identification:

The problem with paper identification is it is not tamperproof. Efforts have been made by states to increase security of state-issued ID cards; however, those looking to perpetrate fraud have been able to keep up with the technology changes. How can you keep up with a criminal element dedicated to staying one step ahead of paper identification cards? The answer, you need to change the identity verification process to an identity authentication process.

Examine the below identity verification system. If a system was able to achieve the below, what would the result be for potential identity fraud risk?

- Electronically capturing photo IDs.

- Detecting false or tampered IDs.

- Connecting IDs to fingerprints.

- Verifying identity.

- Automatically verifying age.

- Retaining comprehensive transaction history.

The above demonstrates the need for comprehensive identity authentication systems to help mitigate identity fraud risk. A secondary requirement becomes apparent when you look at the steps required by comprehensive identity authentication systems–the need for speed of validation. As a result the system needs to be both accurate and efficient. How can this be achieved in point of service situations?

Multiple Verifications Mitigate Identity Fraud:

There is a statistical assumption that the more verification checks performed, the better your chances are that you are mitigating identity fraud risk. To perform multiple verifications will require an additional expenditure of time. To keep the process of identity authentication accurate and efficient, what verifications checks need to be performed? In the previously list there was an item called “Connecting IDs to fingerprints,” this verification action can help hold the key to identity authentication.

Connecting IDs to Fingerprints, the Role of Fingerprint Biometric Verification:

Advances in fingerprint biometric technology have resulted in the ability to conduct biometric verification. TrueID from ChoicePoint has the ability to capture and link a fingerprint to a single ID record. The result is a mitigation of identity fraud risk and fraud risk resulting from an individual attempting to use multiple identities.

Fingerprint Biometric technology provides identity resolution, or the ability to match one person to one identity. The ability to find identity fraud patterns also prevents individual users from making multiple ID fraud attempts. A final benefit of fingerprint biometrics is that the fingerprint images are stored and available to law enforcement and prosecution of identity fraud suspects.

Uses of Biometric Verification:

The ability for fingerprint biometrics to connect a single fingerprint to a single identity becomes desirable in various business applications. Biometric verification can mitigate identity fraud risk by linking a fingerprint to a single stored identity. This technology becomes desirable in situations where high security is required for identity authentication prior to new business being conducted. Applications such as opening a high-value new account or authenticating an identity through repeat transactions illustrate the need to implement biometric verification.

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Today, Identity fraud has become one of the most common thefts of the decade – It has been featured in different kinds of magazines and Television shows. It seems like each year the amount of cases being published increase drastically.

In America alone, over 27 million cases are being filed each year and it is still constantly increasing. It is also due to the fact that slowly most of the purchases are done through information – usually credit cards are the ones with high risk, since if they know all about your personal information they can easily use your card to purchase over the internet.

Now, in order to prevent Identity fraud I have listed the essential things you can do to prevent this from happening to you and your family. Keep in mind that if you follow these things you will prevent identity theft at least 90% of the time. So please take note of the information I am about to share with you.

1. Information Awareness

Now this is very essential, you should be extremely wary of the amount of information you are giving away to the public. It can be on the internet or hard copies of your identification documents.

So in order to be aware of the situation you just have to limit the amount of information you give out, especially on the internet. Don’t publish all of your information online.

Another thing is you should not allow anyone to copy or borrow your identification documents without proper reason.

Plus, always deal business with an official sanction of a company – Do not try to deal with individuals that don’t seem to have any official identifications, you can also check the person by calling up the company.

Shred any financial papers you receive before disposing of them in the trash. This includes any solicitation notices that you may receive for any credit cards or mail from other financial institutions.

Lastly, don’t bring your Social Security Card (or Identification number) with you unless it’s absolutely important.

2. Report Odd Credit Information

This is an extremely important part of preventing identity fraud. Most of the time, people who are involved in the cases think that they could be subjected to identity fraud problems, unfortunately they don’t follow their gut instinct to check.

The telltale signs are monthly expenses that show up in your credit card payment but they don’t provide any form of billing and check your credit card transactions to make sure that all transactions are made by you and if there is a discrepancy, immediately call the company to stop any fraud from continuing further.

And lastly, check your credit report at least once a year to make sure your information (and credit standing) is correct.

That’s why it is essential that you exercise these tips and relate them to your friends and family to prevent any of identity theft/fraud problem in the future.

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It is estimated that each day a number of individuals will have their identity stolen. Identity theft is a horrific problem that is sweeping the world. Identity theft is a crime, but in many cases it is hard to find a person to punish. For this reason, there are many lives that are turned upside down due to identity theft. While it may be difficult to associate good news with identity theft, there is some. Identity theft can often be prevented and if it should occur there are always ways to fight back.

The first step in preventing yourself from becoming a victim of identity theft is to know how it occurs. Identity theft most often occurs when a person has illegal obtained credit card numbers, bank account numbers, social security numbers, and other personal information that they have no right accessing. This information can be obtained by hacking into your computer, scamming you into providing the information, or even through your garbage.

The worst case of identity theft is when an individual obtains your social security number and drivers license. These items could allow a person to do just about anything. They could open new bank accounts, get new credit cards, buy a car, or even get a job in your name. This type of identity theft is hard to notice because a new address is often set up for all new accounts and purchases. It is not uncommon for an individual to not know that they have had their identity stolen until a copy of their credit report is requested.

Stealing credit card numbers is another form of identity theft that is having a negative impact on millions of individuals. When a person obtains your credit card number they can use it to purchase just about anything they want. Large purchases are often made in a small amount of time. This allows an individual to purchase items with your credit card and receive them at a fake location before you are likely to even notice the purchases on your bill.

Not all cases of credit card fraud and identity fraud can be prevented, but the majority of them can be. If you keep valuable personal information, including credit card and bank account numbers, on your computer then you encouraged to make sure that your computer is protected with up-to-date anti-virus software. This will help to prevent a computer hacker from getting your information. If you throw out your old credit card or bank statements you are encouraged to shred the documents first. This would make it virtually impossible for someone rummaging through your trash can to come up with anything valuable.

If you have your purse or wallet stolen you are encouraged to notify your credit card companies immediately. The same approach should be taken if you misplace your wallet or purse in public. After only few hours later your credit cards could be maxed out. Informing your bank and credit card companies of lost or stolen account information will help to guarantee that you will not be responsible for any purchases that were made on the stolen cards.

Why let yourself become a victim of credit card and identity fraud when it is so easy to prevent it? Keeping yourself aware of your surroundings and your finances is the best way to stay safe and keep your credit in good standing.

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Identity fraud is a growing problem in the UK with perpetrators using methods ranging from trawling refuse for copies of bank and utility statements, through to electronic theft of details via the internet. The consequences for a victim can be immense with huge debts run up as the fraudster opens bank accounts and credit accounts to obtain money in the victim’s name.

So what can people do about identity fraud? Firstly action can be taken by contacting the large credit referencing agencies such as Equifax or Experian and setting up a password on your personal data. This works by the agency first conducting a thorough review to verify your identity, then for a small fee they add a password to their databases containing your personal data. Once a bank or other financial services organisation enquires to verify an account at your current address (for example that a fraudster is trying to set up), they will find a password that the fraudster will be asked to verify – which of course they will not be able to. The upshot is that no one can set up a bank account or other financial account without knowing your password recorded on the databases – no matter how many copies of bank statements they have gathered from your refuse!

So great, as an individual you can protect your data and prevent someone defrauding you. But what if you are a landlord who is about to let a property to an individual? How do you know they are who they purport to be? Well, in a perfect world everyone will have secured their personal data and it won’t be a problem, but of course this is far from reality. So what is the solution for landlords? Really it is quite simple. There are credit checking agencies that specialise in identity verification, they have access to a wide range of databases that can check a prospective tenant’s history, verifying previous rental property address, assessing financial accounts linked to those addresses, and a range of other data that collectively verifies an individual’s identity. In short, it is always possible to protect and verify someone’s identity, never take risks that you will later regret!

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Your identity is extremely valuable. You need it to prove who you are for various purposes in your day-to-day life, such as opening a bank account, obtaining a loan, getting a credit card, purchasing goods or services, applying for a passport or driving licence, or claiming benefits. If a criminal gets hold of your personal details, they can do exactly the same things in your name without your knowledge. And it’s not rare for this to happen – the problem of identity theft is increasing all the time and the Home Office estimates that it costs the UK economy

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National Identity Fraud Prevention Week ran from the 17th-23rd October last year for the first time. There was a great deal of publicity regarding identity fraud as might have been expected but was it perhaps a case of “too much information”?

It is certainly understandable that a great deal of
information was given about how to prevent identity fraud and what to do if you fell victim to it. However, there was also a great deal of information given that would certainly help the criminally-inclined who might otherwise never have thought that this was a way to make some easy money.

Identity theft is growing fast, costing around

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Identify theft has become a huge problem and can cause enormous problems for businesses and individuals. Many fraudsters are attracted to this type of scam due to the lucrative returns it can bring. I believe it is estimated that an individual identity is worth

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Don’t wait until your identity has been “stolen” to worry about it. Identity fraud is a severe crime with serious repercussions that can take months or even years for victims to repair, not to mention hundreds to thousands of dollars. If someone has stolen a credit card, or has obtained enough information about you to start applying for new loans and credit cards, your credit score is going to be adversely effected. You will likely have difficulty obtaining a job (employers are making credit checks a regular part of the interviewing process), you’ll be denied credit for things you apply for. You will have a hard time, if not find it impossible, to obtain college loans, vehicle financing, credit cards, and mortgages. In some cases, identity fraud victims may even be arrested for crimes they haven’t committed, because someone else is living under their name as well.

How does identity theft happen? Most people are fairly careful with their personal information, so how can someone steal the “identity” of another human being and get away with it?

There are many ways identity thieves are able to get personal information from people. In some cases, the thieves work for companies where they have access to individual records via a computer or through paper files. Sometimes, a person doesn’t even need access to the information, they’ll just hack into the computer system and retrieve the information they need to steal someone else’s identity. One of the most traditional ways for someone to obtain your personal information is by going through your mail. Whether they steal it right from your mailbox or find it in the garbage, if someone finds bank or credit card statements, checks that have been voided but not ripped up, new credit card offers and tax related information, they usually have enough information to become “you”. People who go through garbage containers are known as “dumpster divers”, and will often be found looking for information in public trash areas and business dumpsters.

There are people and businesses in the world that have a legitimate right to access another person’s credit report. These people include landlords, employers, and businesses that must run credit reports prior to extending credit. Identity thieves often become employed at these organizations in order to obtain access to the personal information they need to do their crime.

Opportunities for thieves to find your information are endless. Identity thieves are smart; you have to be smarter.

There are a few cautionary things you can do to help prevent identity theft. After reading your mail, cleaning your desk at home or work, or cleaning out your car- do not just throw your personal items in the trash. Receipts, utility bills, bank statements, loan statements and credit card offers and statements should be completely destroyed prior to throwing away. Invest in a paper shredder and shred everything you are throwing away to eliminate the possibility of someone finding out information. Alternatively, you could burn your paperwork. When throwing away credit cards, shred them or cut them into many small pieces.

It used to be that people felt it would be difficult to use another person’s credit card. After all, you have to sign your name when making a purchase with a credit card, right? You need to protect your credit cards in the same way that you protect your cash. Merchants rarely check that the signature on the back of a credit card matches the signature that is signed on a receipt when a purchase is made.

If you have lost a credit card, or it has been stolen, report the situation to your creditor immediately. The credit card company will put a hold on the account to prevent any purchases from going through- and they can also track the location where someone has attempted to use the card. This will help in the efforts to find the thief. When you are dining at a restaurant, be mindful of paying with a credit card. Most waiters will take your card to the register to process it, and the card is out of your sight during this time. How do you know the waiter or someone else isn’t writing the numbers and name down from your credit card to use it for online purchases later on? Consider paying with cash whenever you are at a restaurant.

The biggest precaution you can take on a regular basis is to view your credit card statements and bank statements as soon as you receive them. Look for any purchases that you did not make, and call the credit card company immediately if you find something you are unsure of. If identity theft is caught early on, it can often be stopped before it gets out of hand. Also keep track of whether or not you’re receiving your statements every month. If you are missing a credit card statement, call the company to verify the address it’s being mailed to. It’s possible that someone filled out a change of address form at the post office or with the credit card company, and is receiving your statements at a different address with intent to use the information.

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