Feb
15
Report: Combined Consumer Education and Increased Security Measures Equal Reduced Identity Fraud
Filed Under Business | Leave a Comment
Etienne A. Gibbs, MSW asked:
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 **** 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!
© MMVII, Etienne A. Gibbs, MSW, The Internet Safety Advocate and Educator
JARRETT
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 **** 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!
© MMVII, Etienne A. Gibbs, MSW, The Internet Safety Advocate and Educator
JARRETT
Nov
30
Top 5 Guidelines: Prevent ID Fraud
Filed Under Business | Leave a Comment
Chris Z Armstrong asked:
Everybody must consider identity theft and how to protect themselves as it’s on the rise and at worst could cost you lots of money if a thief gets access to your finances, at best it’ll cost you time and grief cancelling cards and altering computer passwords.
With the introduction of chip and pin security at retail outlets fraudsters are turning to card holder not present fraud increasingly, so anything that has your personal details on has a value.
Here are our top 5 tips to help protect you and make the thief’s goal more difficult:
Shred anything with personal information including the envelope. It may sound simple but everything helps. Be wary who you give your personal details to, scammers will try lots of tricks. Change log-ins and pin numbers frequently and make them tricky for fraudsters to guess Reduce the personal data you keep in your handbag or wallet. One stolen wallet could be the door to someone’s new identity! Keep your rubbish bin secure and don’t put personal records in it Thieves will go through your bin, yuck!
Stealing sensitive and personal information from rubbish and recycling bins is an increasing problem. Identity thieves are very clever at using your data for their own gain. Any piece of paper with information including name, address, and details from your bank or credit card can be used for identity theft. Be safe and shred it!
Find the perfect shredder or just get extra help and advice at The Shredder Supermarket.com
AARON
Everybody must consider identity theft and how to protect themselves as it’s on the rise and at worst could cost you lots of money if a thief gets access to your finances, at best it’ll cost you time and grief cancelling cards and altering computer passwords.
With the introduction of chip and pin security at retail outlets fraudsters are turning to card holder not present fraud increasingly, so anything that has your personal details on has a value.
Here are our top 5 tips to help protect you and make the thief’s goal more difficult:
Shred anything with personal information including the envelope. It may sound simple but everything helps. Be wary who you give your personal details to, scammers will try lots of tricks. Change log-ins and pin numbers frequently and make them tricky for fraudsters to guess Reduce the personal data you keep in your handbag or wallet. One stolen wallet could be the door to someone’s new identity! Keep your rubbish bin secure and don’t put personal records in it Thieves will go through your bin, yuck!
Stealing sensitive and personal information from rubbish and recycling bins is an increasing problem. Identity thieves are very clever at using your data for their own gain. Any piece of paper with information including name, address, and details from your bank or credit card can be used for identity theft. Be safe and shred it!
Find the perfect shredder or just get extra help and advice at The Shredder Supermarket.com
AARON
Nov
16
Understanding the Truth in Caller Id Act
Filed Under Business | Leave a Comment
Gloria Moore asked:
There is another “Truth In Caller ID Act” bill currently making its way through the Senate. This bill, known as The Truth In Caller ID Act of 2007, passed in the U.S. House of Representatives in June 2007. This is the second time a bill of this nature is being considered. The first of its kind, The Truth In Caller ID Act of 2006, was dropped and did not pass.
What does this bill mean and what will happen if it passes? Many people are under the impression that if the Truth In Caller ID Act passes into law, it will terminate Caller ID spoofing or the companies that offer this service. At this particular time, this is not true. The purpose of the bill, as it stands now, is not to eliminate Caller ID spoofing, but to place responsibility on the individual who utilizes Caller ID spoofing to ensure they use the service within the law.
More specifically, the individual would not be permitted to spoof with the intention of defrauding, causing harm, or attempting to wrongfully obtain anything valuable. In other words, a person will no longer be able to use the Caller ID spoofing service to make a pretext call.
Caller ID spoofing has become a serious issue in the past few years due to the fact that more and more people are becoming aware that this service may be used to obtain phone records and other personal or corporate information. It is because of the corruption that has, and can occur with Caller ID spoofing, that captured the government’s attention and brought about the creation of the Truth In Caller ID Act.
The objective of this bill is to put a stop to Caller ID spoofing used to commit wire fraud or identity theft, by punishing those who engage in this practice by fining or prosecuting them. Therefore, people who use Caller ID spoofing to make prank calls should also be aware that though they may only be intending a practical joke, this can be considered “causing harm”, which would be against the law and could result in a fine.
Last but not least, telemarketers may also be subject to a fine if the law is passed, should they attempt to use Caller ID spoofing to bypass the National Do Not Call Registry law. That being said, you should know that although this law has not yet been passed, you can still find out whose calling you and find the source to prank calls.
ROB
There is another “Truth In Caller ID Act” bill currently making its way through the Senate. This bill, known as The Truth In Caller ID Act of 2007, passed in the U.S. House of Representatives in June 2007. This is the second time a bill of this nature is being considered. The first of its kind, The Truth In Caller ID Act of 2006, was dropped and did not pass.
What does this bill mean and what will happen if it passes? Many people are under the impression that if the Truth In Caller ID Act passes into law, it will terminate Caller ID spoofing or the companies that offer this service. At this particular time, this is not true. The purpose of the bill, as it stands now, is not to eliminate Caller ID spoofing, but to place responsibility on the individual who utilizes Caller ID spoofing to ensure they use the service within the law.
More specifically, the individual would not be permitted to spoof with the intention of defrauding, causing harm, or attempting to wrongfully obtain anything valuable. In other words, a person will no longer be able to use the Caller ID spoofing service to make a pretext call.
Caller ID spoofing has become a serious issue in the past few years due to the fact that more and more people are becoming aware that this service may be used to obtain phone records and other personal or corporate information. It is because of the corruption that has, and can occur with Caller ID spoofing, that captured the government’s attention and brought about the creation of the Truth In Caller ID Act.
The objective of this bill is to put a stop to Caller ID spoofing used to commit wire fraud or identity theft, by punishing those who engage in this practice by fining or prosecuting them. Therefore, people who use Caller ID spoofing to make prank calls should also be aware that though they may only be intending a practical joke, this can be considered “causing harm”, which would be against the law and could result in a fine.
Last but not least, telemarketers may also be subject to a fine if the law is passed, should they attempt to use Caller ID spoofing to bypass the National Do Not Call Registry law. That being said, you should know that although this law has not yet been passed, you can still find out whose calling you and find the source to prank calls.
ROB
Nov
15
Michelle Thiel asked:
One of the best ways to fight fraud is to take a proactive approach. Yet some business professionals believe that fraud detection software is the only type of software tool available (or necessary) to fight fraud. Certainly, detection through monitoring can play an important role in your anti-fraud program, but it puts you in a reactive mode. Instead, you should take efforts to better know the people and companies with whom you choose to do business. In other words, do what you can to help prevent fraud from occurring in the first place. Better anti-fraud programs will combine ongoing due diligence with monitoring, and the place to start is with identity verification tools.
There are a variety of reasons that you should know your customers. First, it is just a good business practice. You can help prevent being associated with deceptive individuals, and that can save you money. Such a relationship can lead to direct losses from the particular business deal, but it can also tarnish your company’s name, sending your good customers scurrying to the competition. Second, knowing your customers allows you to focus on those products or services that best meet your customers’ needs. By doing those activities well, you can build (or enhance) a competitive advantage. In addition, some companies face regulatory requirements to identify their customers. For example, certain financial institutions are subject to regulations calling for Customer Identification Programs (CIP), and certain financial institutions are subject to the new Identity Theft “Red Flags” Rules. Many banks collect documents such as a birth certificate, passport, driver’s license, or some other government-issued ID to help establish a customer’s identity. The risk is that personnel may not be able to spot counterfeit documents or fraudulently obtained physical documents. Ensuring your employees are well trained is critical, but what happens when an unfamiliar identification document is presented to your employee? Clearly, the risk of fraud is higher, and some fraud begins with an employee unknowingly accepting counterfeit documentation.
One of the most popular ways to augment identity verification processes is to compare data provided by the potential customer against public records to see if there are any discrepancies. This “non-documentary method” could be very time consuming if not for software solutions that can help you streamline the process. In fact, using identity verification software, this task can frequently be completed within seconds.
Identity Verification Software
Identity verification software is designed to help you quickly and effectively verify the identity of your prospective retail and commercial account holders. This is your proactive step to preventing fraud: recognize the deceptive individuals before the fraud occurs! ID verification software can also help you investigate possible fraud scenarios by helping you confirm whether your customer is the true owner of a Social Security number (SSN) and by detecting potential synthetic IDs. In addition to the potential for identity verification solutions to confirm a true identity, it also may be configurable to perform a custom hotlist check for individuals that might seek to disguise their identity by using an alias or different address.
Being proactive and performing appropriate due diligence can help reduce your risk of being a victim of those that look to perpetrate identity fraud.
COY
One of the best ways to fight fraud is to take a proactive approach. Yet some business professionals believe that fraud detection software is the only type of software tool available (or necessary) to fight fraud. Certainly, detection through monitoring can play an important role in your anti-fraud program, but it puts you in a reactive mode. Instead, you should take efforts to better know the people and companies with whom you choose to do business. In other words, do what you can to help prevent fraud from occurring in the first place. Better anti-fraud programs will combine ongoing due diligence with monitoring, and the place to start is with identity verification tools.
There are a variety of reasons that you should know your customers. First, it is just a good business practice. You can help prevent being associated with deceptive individuals, and that can save you money. Such a relationship can lead to direct losses from the particular business deal, but it can also tarnish your company’s name, sending your good customers scurrying to the competition. Second, knowing your customers allows you to focus on those products or services that best meet your customers’ needs. By doing those activities well, you can build (or enhance) a competitive advantage. In addition, some companies face regulatory requirements to identify their customers. For example, certain financial institutions are subject to regulations calling for Customer Identification Programs (CIP), and certain financial institutions are subject to the new Identity Theft “Red Flags” Rules. Many banks collect documents such as a birth certificate, passport, driver’s license, or some other government-issued ID to help establish a customer’s identity. The risk is that personnel may not be able to spot counterfeit documents or fraudulently obtained physical documents. Ensuring your employees are well trained is critical, but what happens when an unfamiliar identification document is presented to your employee? Clearly, the risk of fraud is higher, and some fraud begins with an employee unknowingly accepting counterfeit documentation.
One of the most popular ways to augment identity verification processes is to compare data provided by the potential customer against public records to see if there are any discrepancies. This “non-documentary method” could be very time consuming if not for software solutions that can help you streamline the process. In fact, using identity verification software, this task can frequently be completed within seconds.
Identity Verification Software
Identity verification software is designed to help you quickly and effectively verify the identity of your prospective retail and commercial account holders. This is your proactive step to preventing fraud: recognize the deceptive individuals before the fraud occurs! ID verification software can also help you investigate possible fraud scenarios by helping you confirm whether your customer is the true owner of a Social Security number (SSN) and by detecting potential synthetic IDs. In addition to the potential for identity verification solutions to confirm a true identity, it also may be configurable to perform a custom hotlist check for individuals that might seek to disguise their identity by using an alias or different address.
Being proactive and performing appropriate due diligence can help reduce your risk of being a victim of those that look to perpetrate identity fraud.
COY
Nov
1
Maritime Fraud - Bharatbook.com
Filed Under Business | Leave a Comment
bharatbook asked:
Bharatbook.com is proud to announce the new report “Maritime Fraud” (http://www.bharatbook.com/detail.asp?id=25531).
The book covers all varieties of maritime fraud, from the most serious downwards, describing the methods employed and the risks to traders and carriers. At the serious end of the spectrum, pirates capture an entire ship, often murdering the entire crew, in order to sell the cargo (to which of course they have no title), later to use the “innocent” ship to pose as innocent traders. Less serious (but perhaps of greater interest to lawyers) are misdescriptions of cargo in, or backdating of, bills of lading, and other deceptions, usually practiced on purchasers and banks.
IT IS IMPORTANT THAT YOU MINIMISE THE EFFECTS OF MARITIME FRAUD BY PURCHASING MARITIME FRAUD BOOK
Maritime Fraud book provides
The main focus of this book is the impact maritime fraud has on contracts for sale and carriage, documentary credits and marine insurance.
Supplies remedies victims may have against fraudsters, their accomplices, or against other traders (who may, of course themselves be innocent), in an attempt to spread the losses.
Why you need Maritime Fraud book
The system of international trade is inherently fraud-prone, it is possible to reduce this risk, but this compromises speed, convenience and cost and a balance needs to be struck. New technology may improve the situation, making life more difficult for fraudsters, but equally, new opportunities for fraud will be created. The central issues remain
What extent traders are prepared to sacrifice the system’s virtues to combat fraud and the level to which it is rational to do so?
MARITIME FRAUD BOOK WILL PROVIDE THE ANSWERS
Contents
Introduction
Piracy
Phantom ships and thefts of cargo
Misrepresentation in bills of lading
Misrepresentations in bills of lading: Positions of carriers
Other maritime frauds
Technological advances
Who should read Maritime Fraud book
Maritime lawyers
Ship charterers
Marine insurers
Misrepresentation in bills of lading
Freight forwarders
Marine banks
Ship brokers
For more information kindly visit : http://www.bharatbook.com/detail.asp?id=25531
CURT
Bharatbook.com is proud to announce the new report “Maritime Fraud” (http://www.bharatbook.com/detail.asp?id=25531).
The book covers all varieties of maritime fraud, from the most serious downwards, describing the methods employed and the risks to traders and carriers. At the serious end of the spectrum, pirates capture an entire ship, often murdering the entire crew, in order to sell the cargo (to which of course they have no title), later to use the “innocent” ship to pose as innocent traders. Less serious (but perhaps of greater interest to lawyers) are misdescriptions of cargo in, or backdating of, bills of lading, and other deceptions, usually practiced on purchasers and banks.
IT IS IMPORTANT THAT YOU MINIMISE THE EFFECTS OF MARITIME FRAUD BY PURCHASING MARITIME FRAUD BOOK
Maritime Fraud book provides
The main focus of this book is the impact maritime fraud has on contracts for sale and carriage, documentary credits and marine insurance.
Supplies remedies victims may have against fraudsters, their accomplices, or against other traders (who may, of course themselves be innocent), in an attempt to spread the losses.
Why you need Maritime Fraud book
The system of international trade is inherently fraud-prone, it is possible to reduce this risk, but this compromises speed, convenience and cost and a balance needs to be struck. New technology may improve the situation, making life more difficult for fraudsters, but equally, new opportunities for fraud will be created. The central issues remain
What extent traders are prepared to sacrifice the system’s virtues to combat fraud and the level to which it is rational to do so?
MARITIME FRAUD BOOK WILL PROVIDE THE ANSWERS
Contents
Introduction
Piracy
Phantom ships and thefts of cargo
Misrepresentation in bills of lading
Misrepresentations in bills of lading: Positions of carriers
Other maritime frauds
Technological advances
Who should read Maritime Fraud book
Maritime lawyers
Ship charterers
Marine insurers
Misrepresentation in bills of lading
Freight forwarders
Marine banks
Ship brokers
For more information kindly visit : http://www.bharatbook.com/detail.asp?id=25531
CURT