Identity Theft Crisis

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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Have you ever tried shopping online? Why not? Many people find that online shopping is not only easy and convenient, but much cheaper as well. Internet merchants can afford to sell their products for lower prices because of a lower capital needed for maintaining an online store. But don’t forget about the risk of credit card fraud and identity theft when purchasing from the web.

You may not even be aware of it but other people may already be using your personal information to commit fraudulent crimes against you. For instance, one common strategy used by identity thieves is called “phishing”. In fact, this strategy has been used by ID thieves since the 1990s and has become more and more prevalent today.

How is the crime of phishing done? An identity thief will send an email to an unsuspecting victim, disguising as an email from a reputable company or online merchant like the IRS, Amazon, PayPal and other big names on the web. If you’re not aware of identity theft tricks, you may think that the email is indeed from a valid source.

You may be asked to click on a link that leads to a phishing website. This webpage was made to look just like the genuine company and it takes careful examination to recognize a fake one from the real one. The email may ask you to fill out the online form for them to verify your account. But upon submitting that online form, you may not know that you’re also handing out your personal information to identity thieves.

What You Should Do

The Federal Trade Commission warns all consumers against such tricks. Remember that trusted merchants and government agencies will not solicit personal information from consumers through an electronic message.

The best thing to do if you receive a suspicious email is to call the company who appeared to have sent it to confirm. Never attempt to open an email or click on the links in it.

Bear in mind that the URL of a secured website always begins with https://. You should also look for the pad locked icon in the bottom right corner of your browser. If you have been a victim of Identity Theft or credit card fraud, contact the FTC immediately.

Be Alert Against Online Identity Theft

When making an online purchase, check the background and reputation of the internet merchant you intend to purchase from. Don’t just compare shops based on the low prices they offer. If a certain online shop sells items at an incredibly low price, if it doesn’t have a solid track record of service to show, you could be in danger.

You may also prefer to send in your payment through a reputable online system like Pay Pal. This way, you don’t have to reveal your credit card’s number to anyone. See to it that the online shop uses a secured server. There must be a Privacy Policy provided on the site to show that they are concerned about protecting their customer’s personal information.

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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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Identity theft is one of the most troubling problems of the modern world. Although it is hard to come by good identity theft statistics, one thing is clear. Credit card theft and other forms of theft of identity are on the rise. If this was not troubling enough, consider the fact that you never know when your identity is being stolen. You will only find out days, weeks, or even months later. It is almost impossible to prevent identity theft. At best, all you can do is take steps to make it easier to recover your identity.

Identity theft stats do make one thing clear: people who take steps to protect their identities are much less vulnerable. Identity theft statistics tell us that people who keep good financial records, make sure that their Internet accounts are well protected, frequently change passwords, and regularly check their credit, are less likely to be victimized. When they are the victim of identity theft, these people can resolve the issue much more quickly. It is easier for them to prove that their identity has been stolen and that they are not responsible for any purchases that have been made in their name.

Statistics on identity theft, however, tell us nothing about which steps are the most important, and which ones can be ignored. Because identity theft is such a new problem, identity theft statistics are not all that sophisticated yet. The only solution is to take all the steps that you can to protect your identity. This can prove costly, but it is worth it! For example, according to recent identity theft statistics, if your computer is well secured you are several times less likely to have your identity stolen.

According to identity theft statistics, it is as important to take precautions when you go on vacation as when you are at home. When you are traveling, particularly if you’re going for an extended stay, you are vulnerable. You will not see the mail coming into your house, and will be unaware of unusual charges on your bank account until it is too late. Fortunately, identity theft protection works whether or not you are at home. Identity theft statistics, in fact, do not indicate a significant difference in security between people who are home, and people who are traveling abroad. As long as you protect your identity, you are at a much lower risk of having it stolen. The most important thing is not to delay. Every day without theft protection is another day when you could be victimized.

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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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The loss by staff at Her Majesty?s Revenue & Customs of two CDs that contain sensitive information about 25million UK residents is only the latest in a series of high-profile scare stories that highlight the need to protect our personal and financial information, and prevent us becoming the unwitting victims of identity fraud.

In 2006 an estimated 178,000 people in Britain were affected by identity fraud which cost the country close to

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While surfing the ‘net, I came across a report about the reduction of identity theft and identity fraud. Obviously, it caught my attention. Following, in part, is that report which was produced by Javelin Strategy & Research, and co-sponsored by CheckFree Corporation, Visa Card, and Wells Fargo & Co.

While identity theft remains a multi-billion-dollar problem for businesses, organizations, and individuals, incidents of the fraud dropped significantly last year, according to a report.

Identity fraud occurring in the United States declined in 2006 by 12 percent over the year before, from $55.7 billion to $49.3 billion, according to the third-annual survey by Javelin Strategy & Research. The survey, which involved 5,000 telephone interviews, estimated the number of victims dropped for the fourth consecutive year by about 500,000 to 8.4 million persons.

Researchers attributed the decline to better consumer education and awareness and increased use of online banking and financial sites that allow closer monitoring of accounts. “Businesses are doing a lot more, law enforcement is doing more, and so are consumers,” said James Van Dyke, president of Javelin, a research company in Pleasanton, Calif., specializing in financial services and payments.

Tena Friery, research director at the Privacy Rights Clearinghouse, a nonprofit consumer organization in San Diego, said she was surprised by the size of the decline but said there is much greater public awareness.

“We still have a long way to go,” she said.

According to the report, there was a significant reduction in fraudulent new-account openings, traditionally one of the most common kinds of fraud. It occurs when a criminal uses a victim’s personal data to open a new account.

The survey also found that it takes on average less time and expense to resolve a fraud case than last year. When fraudulent accounts are opened, the average fraud amounts dropped from more than $10,000 in 2005 to $7,260 in 2006. Resolution times dropped from an average of 25 hours in 2005 to five hours in 2006.

Van Dyke said one reason the numbers are down is that businesses are “screening account applicants much more closely.”

Individuals and consumer groups have long argued that extra screening was needed because conflicting application information, such as two addresses, could indicate identity fraud.

One group that isn’t doing better, according to the report, is 18- to 24-year olds. This age group was more likely to become a victim of identity theft than other age groups. (See sure to read my related article, Your Child’s First Year at College: Prime Target for Identity Theft?.

The report references offline criminal activities; however, I do believe that incidents of identity theft have remained unchanged online. One example is stated above, with cybercriminals targeting recent high school graduates and college freshmen.

Unfortunate victims, these graduates and college freshmen provide extremely lucrative opportunities for the cybercriminals to obtain their personal information. Even before they start their first careers, these graduates and college students will, most likely, be crippled by identity theft.

To protect yourself, you need an internet security team of experts making sure that you, your family, and your business computer are always safe and secure. The best protection you can have in today’s rapidly changing world of cyber-attacks is to have expert support for all your Internet security needs that will provide technical support without any hassles and without charging you extra fees. It will become even more critical than it is today as time goes on. You need to find your own personal team of experts to rely on. If you ever have a security problem, you will want to have a trusted expert you can call for professional help, without any hassles and extra costs!

Because cybercriminals are becoming smarter and more sophisticated in their operations, they are real threats to your personal security and privacy. Your money, your computer, your family, and your business are all at risk.

These cybercriminals leave you with three choices :

1. Do nothing and hope their attacks, risks, and threats don?t occur on your computer.

2. Do research and get training to protect yourself, your family, and your business.

3. Get professional help to lockdown your system from all their attacks, risks, and threats.

Remember: When you say “No!” to hackers and spyware, everyone wins! When you don’t, we all lose!

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Did you know that 52% of all identity theft victims discovered that they were victims by monitoring their accounts with some sort of monitoring service? That percentage represents approximately 5 million people. Identity theft is the modern day plague affecting our wallets instead of our physical well-being. Tales of identity theft are cropping up all across the United States at lightning speed and are on the rise internationally. This trend is expected to continue with identity thieves getting younger and smarter.

You have worked hard all of your life to have a good job, above average home, and good credit. Realizing how easy it could all go away should be incentive enough to investigate something to protect your investments. If you have not already done so, you need to enroll in the most robust identity theft protection you can find and do it now.

There are a lot of different products on the market that will help you protect what is rightfully yours. Do the homework and investigation to find the right identity theft protection product out of the many on the market. Some provide reimbursement coverage while most provide credit alerts when any activity is noted in your credit file.

True, there are measures you can take to assist in your personal protection but they do not always work. I can list each of the preventative ways to safeguard your information but, quite frankly, if a thief wants your identity they will get it if they believe you are of value to them. ID Thieves are more sophisticated these days and are not just counterfeiting new checks based upon stolen account numbers anymore. Some are even stealing their own children’s identities. If they are doing that to their own children then imagine what they will do to steal yours.

The age of checks is going away and is being replaced by debit cards and/or credit cards but that opens up even more problems. If you are using the internet to do transactions you are at immense risk even if you have virus protection and a firewall on your computer. All it takes is a company that has your personal and financial information to be breached and your identity is out in cyber world for all to see.

In summation, the best identity theft protection is due diligence as well as a company working for you behind the scenes watching your back. Get the peace of mind you deserve while you work hard and continue living the American dream.

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Social Security has been one of the country’s most successful programs. It aids people from financial uncertainty especially in their trying times.

The program provides several protections such as:

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