Feb
14
Michelle Thiel asked:
It seems you’ll be hard pressed to sit through the evening news without a story about the nation’s mortgage crisis. You’ll hear blame towards the lenders, the borrowers and the government. Looming behind crisis in the mortgage industry is the risk of an increased amount of homeowners filing for bankruptcy.
It is expected that obtaining a mortgage is going to be more difficult as the credit markets tighten. Should the supply of money tighten up companies will want to person additional layers of due diligence when reviewing new loan applicants.
For companies looking to mitigate fraud risk, below is a list of actions they can take among different parties.
- Property Brokers: Be cautious if a property broker insists a buyer uses a specific lender exclusively.
- Maintain Records: Ensure you receive copies and appropriately file and archive all copies of signed documents.
- Appraisers: Hire third-party appraisers.
- Referrals and References: Request referrals and verify references of real estate professionals that have an established record.
- Document Signatures: Never sign documents with incomplete information.
- Professional Service Reports: Research and leverage professional services that report on mortgage fraud as a collaboration with the federal government.
Bankruptcy Records:
Did you know bankruptcy records are public records? Bankruptcy records, along with other liens and judgments are part of the research process of due diligence. Professional organizations are making it easier for a person to research the credit history, from a bankruptcy prospective, of persons and organizations they are conducting business with
ID Verification Services:
Is your loan applicant really who he or she claims to be? How do you know? Have you confirmed the applicant’s identity? Is there a chance he or she is looking to commit a fraud and misrepresent their identity to obtain a loan? Fortunately id authentication services exist that can help provide a series of verifications against a person’s ID including:
- The ZIP Code matches the state.
- The last name matches the address.
- The Social Security number matches the first and last name.
- The Social Security number issue date is within a valid date range.
- The Social Security number is not listed as deceased.
- The Social Security number exists.
- The subject meets your age requirement.
ID’s issued by state government’s have become more tamper-resistant within the last decade. Many states have implemented advanced security features. At the same time many would-be thieves and criminals have also tried to keep pace and are constantly seeking methods to stay ahead. As a means of providing due diligence you may want to consider running a verification against a person’s ID to ensure you know the identity of the person you are working with.
The state of the economy is of great concern to many in America . It can speculated that companies will have an increased interest in researching the organizations and persons they are conducting business with. Remember when conducting due diligence, leverage the available professional services available that can help you collect public records information. By referring to national databases and public records services you are helping your organization mitigate the risk of a potential fraud.
KIETH
It seems you’ll be hard pressed to sit through the evening news without a story about the nation’s mortgage crisis. You’ll hear blame towards the lenders, the borrowers and the government. Looming behind crisis in the mortgage industry is the risk of an increased amount of homeowners filing for bankruptcy.
It is expected that obtaining a mortgage is going to be more difficult as the credit markets tighten. Should the supply of money tighten up companies will want to person additional layers of due diligence when reviewing new loan applicants.
For companies looking to mitigate fraud risk, below is a list of actions they can take among different parties.
- Property Brokers: Be cautious if a property broker insists a buyer uses a specific lender exclusively.
- Maintain Records: Ensure you receive copies and appropriately file and archive all copies of signed documents.
- Appraisers: Hire third-party appraisers.
- Referrals and References: Request referrals and verify references of real estate professionals that have an established record.
- Document Signatures: Never sign documents with incomplete information.
- Professional Service Reports: Research and leverage professional services that report on mortgage fraud as a collaboration with the federal government.
Bankruptcy Records:
Did you know bankruptcy records are public records? Bankruptcy records, along with other liens and judgments are part of the research process of due diligence. Professional organizations are making it easier for a person to research the credit history, from a bankruptcy prospective, of persons and organizations they are conducting business with
ID Verification Services:
Is your loan applicant really who he or she claims to be? How do you know? Have you confirmed the applicant’s identity? Is there a chance he or she is looking to commit a fraud and misrepresent their identity to obtain a loan? Fortunately id authentication services exist that can help provide a series of verifications against a person’s ID including:
- The ZIP Code matches the state.
- The last name matches the address.
- The Social Security number matches the first and last name.
- The Social Security number issue date is within a valid date range.
- The Social Security number is not listed as deceased.
- The Social Security number exists.
- The subject meets your age requirement.
ID’s issued by state government’s have become more tamper-resistant within the last decade. Many states have implemented advanced security features. At the same time many would-be thieves and criminals have also tried to keep pace and are constantly seeking methods to stay ahead. As a means of providing due diligence you may want to consider running a verification against a person’s ID to ensure you know the identity of the person you are working with.
The state of the economy is of great concern to many in America . It can speculated that companies will have an increased interest in researching the organizations and persons they are conducting business with. Remember when conducting due diligence, leverage the available professional services available that can help you collect public records information. By referring to national databases and public records services you are helping your organization mitigate the risk of a potential fraud.
KIETH
Feb
4
Identity Theft - What are the Most Common Ways to Commit Id Theft or Fraud?
Filed Under Credit | Leave a Comment
Cathy Taylor asked:
It’s the number one source of consumer complaints at the Federal Trade Commission (FTC), and unfortunately, it’s one of the simplest crimes to commit. Identity theft involves information from your daily life, from shopping, bill-paying, and even applying for a job. Thieves take advantage of everyday opportunities to discover your personal information, including your Social Security number (SSN), bank or credit card account numbers, income, name, address, or phone number, and use it to commit fraud or other crimes.
How can a stranger get to your information? According to the FTC, identity thieves may pose as legitimate representatives of an organization, as business professionals or agents of the government, conning you into revealing sensitive information. Common scams include impersonating employees from banks, credit card companies, Internet service providers, and utility companies. If someone calls you claiming to represent a legitimate organization, confirm this by calling the customer service number listed on your statement or bill.
Thieves may also use your place of employment to get the information they need. A co-worker may steal information from your employer; someone could hack into your company’s computer and copy employee records; or a criminal could resort to the old-fashioned method of bribing someone you work with for your information. Check with your employer to find out the company policy on securing your records and disposing of them when you’re gone.
If your employer is authorized to pull credit reports on employees or potential customers, someone could take advantage of this access to retrieve illegal reports. Criminals may also pose as employers, landlords, or collection agents to pull your credit information. It’s a good idea to order a copy of your credit report once a year to check for unauthorized entries.
Shredding your documents before you throw them away is also good idea, whether at work or at home. Identity thieves have been known to sift through garbage, in the trash can or at the dump, to find sensitive information.
The most common form of identity theft is credit card fraud. Technology has allowed criminals to begin stealing your credit or debit card numbers as you use the cards, “skimming” them with an information storage device. In addition, thousands of drivers’ licenses and credit and debit cards are stolen each year. Keeping your Social Security card in a secure location and safeguarding your purse or wallet while at work are necessary precautions.
Even your mail is a source for identity thieves, who may complete credit card applications in your name and go on a spending spree. After stealing your bank or credit card statements, tax information, or box of replacement checks, criminals are able to access your accounts and spend the funds in your name. They may even change the address on your existing account, diverting the bills to keep you from recognizing the problem until it’s too late. Being aware of your billing cycles can help you catch a discrepancy in the arrival of your statements.
Identity thieves have a variety of ways to use your information for their personal gain. They may shop for big-ticket items using your credit or bank account information and then sell the items for cash. With your SSN and date of birth, they can open new bank accounts or apply for lines of credit. In fact, banks have granted loans to criminals using stolen identities for purchases as large as cars.
Telephone or internet service can be set up using your SSN. Thieves can avoid impending eviction or accumulated debt by filing bankruptcy in your name. Perhaps the most emotionally traumatic, police could issue a warrant for you if a criminal was arrested using your name and failed to appear at a court hearing.
The ways that identity thieves have conceived to acquire your personal information are numerous, but your vigilance and heightened awareness can curb their ability to make you a victim. And, if you sustain credit damage, go to http://www.apscreen.com to find out what you can do about it.
HECTOR
It’s the number one source of consumer complaints at the Federal Trade Commission (FTC), and unfortunately, it’s one of the simplest crimes to commit. Identity theft involves information from your daily life, from shopping, bill-paying, and even applying for a job. Thieves take advantage of everyday opportunities to discover your personal information, including your Social Security number (SSN), bank or credit card account numbers, income, name, address, or phone number, and use it to commit fraud or other crimes.
How can a stranger get to your information? According to the FTC, identity thieves may pose as legitimate representatives of an organization, as business professionals or agents of the government, conning you into revealing sensitive information. Common scams include impersonating employees from banks, credit card companies, Internet service providers, and utility companies. If someone calls you claiming to represent a legitimate organization, confirm this by calling the customer service number listed on your statement or bill.
Thieves may also use your place of employment to get the information they need. A co-worker may steal information from your employer; someone could hack into your company’s computer and copy employee records; or a criminal could resort to the old-fashioned method of bribing someone you work with for your information. Check with your employer to find out the company policy on securing your records and disposing of them when you’re gone.
If your employer is authorized to pull credit reports on employees or potential customers, someone could take advantage of this access to retrieve illegal reports. Criminals may also pose as employers, landlords, or collection agents to pull your credit information. It’s a good idea to order a copy of your credit report once a year to check for unauthorized entries.
Shredding your documents before you throw them away is also good idea, whether at work or at home. Identity thieves have been known to sift through garbage, in the trash can or at the dump, to find sensitive information.
The most common form of identity theft is credit card fraud. Technology has allowed criminals to begin stealing your credit or debit card numbers as you use the cards, “skimming” them with an information storage device. In addition, thousands of drivers’ licenses and credit and debit cards are stolen each year. Keeping your Social Security card in a secure location and safeguarding your purse or wallet while at work are necessary precautions.
Even your mail is a source for identity thieves, who may complete credit card applications in your name and go on a spending spree. After stealing your bank or credit card statements, tax information, or box of replacement checks, criminals are able to access your accounts and spend the funds in your name. They may even change the address on your existing account, diverting the bills to keep you from recognizing the problem until it’s too late. Being aware of your billing cycles can help you catch a discrepancy in the arrival of your statements.
Identity thieves have a variety of ways to use your information for their personal gain. They may shop for big-ticket items using your credit or bank account information and then sell the items for cash. With your SSN and date of birth, they can open new bank accounts or apply for lines of credit. In fact, banks have granted loans to criminals using stolen identities for purchases as large as cars.
Telephone or internet service can be set up using your SSN. Thieves can avoid impending eviction or accumulated debt by filing bankruptcy in your name. Perhaps the most emotionally traumatic, police could issue a warrant for you if a criminal was arrested using your name and failed to appear at a court hearing.
The ways that identity thieves have conceived to acquire your personal information are numerous, but your vigilance and heightened awareness can curb their ability to make you a victim. And, if you sustain credit damage, go to http://www.apscreen.com to find out what you can do about it.
HECTOR
Jan
31
credit card fraud?
Filed Under Credit | 4 Comments
T****A asked:
Someone stole my wifes debit card #’s and was in canada charging stuff up. the bank fraud department called because they were suspicious and shut the card off. the bank is giving the money back $638.00 but i was wondering does the bank loose that money or the stores were the stuff was bought have to pay the money back i think the stores should loose the money because the stores obviously didnt ask for id because it wasnt the correct person using the #’s the stores were abercrombie & fitch, towns shoes, and Mcdonalds i think they should have asked for id because the person didnt have the card just the #’s and that should have been a big red flag
GLENN
Someone stole my wifes debit card #’s and was in canada charging stuff up. the bank fraud department called because they were suspicious and shut the card off. the bank is giving the money back $638.00 but i was wondering does the bank loose that money or the stores were the stuff was bought have to pay the money back i think the stores should loose the money because the stores obviously didnt ask for id because it wasnt the correct person using the #’s the stores were abercrombie & fitch, towns shoes, and Mcdonalds i think they should have asked for id because the person didnt have the card just the #’s and that should have been a big red flag
GLENN
Jan
26
Someone asked:
I recently gave my passport ID, name, address, nationality and *** to a fraud claiming to be a landlord. He was telling me I need to pay 1800$ as a deposit fee before moving in. I obviously know he’s a fraud and a thief, so I’m not paying that. But now I’m worried since he has my passport ID #.
My question is: is it possible for him to create a bank account or make a credit card and use up my credit with just this information? I have never used up my credit before this and I don’t even have a credit card.
Do I have anything to be scared about?
CHRISTIAN
I recently gave my passport ID, name, address, nationality and *** to a fraud claiming to be a landlord. He was telling me I need to pay 1800$ as a deposit fee before moving in. I obviously know he’s a fraud and a thief, so I’m not paying that. But now I’m worried since he has my passport ID #.
My question is: is it possible for him to create a bank account or make a credit card and use up my credit with just this information? I have never used up my credit before this and I don’t even have a credit card.
Do I have anything to be scared about?
CHRISTIAN
Dec
27
Ruth Jacob asked:
People under the age of 50 and men in particular, are more likely to expose themselves to credit card fraud or identity theft, according to research by Saga credit card; the financial website, for older people.
As most under 50, have multiple credit and debit cards, spotting fraudulent activity on their accounts is much harder. Also, with more young people living in shared accommodation and using shared letterboxes, their risk of falling victim to fraud is much higher.
Worryingly, the younger generation also seems to adopt a much more careless attitude towards the dangers of credit card fraud than the older generation, although according to APACS, credit and debit card fraud increased by 25 per cent last year.
Of those questioned, 94 per cent own a credit or debit card, with 86 per cent of them saying they had up to four cards. In addition, more than half of participants admitted they carried all their cards with them at once, multiplying the risk of fraud if they were to lose their wallet.
Those with multiple cards, over a fifth (22 per cent) of 18 to 34 year olds stated they only used their additional cards once a year, as opposed to just 16 per cent of the other age groups. Long intervals between card activities mean that it becomes less obvious if a card has been used fraudulently.
Just one in 10 cardholders between 18 and 34 keep their cards in a safe place and only get them out if they need to use them highlighting a need for credit card protection in case of loss or theft.
Of those who had lost one of their cards in the past, just 66 per cent bothered to report the loss straightaway, compared to a significantly higher 78 per cent of over 50s who took action immediately. The study also found that women were more cautious than men.
Also, the majority of 18 to 34 year olds would not object if their card was taken out of sight when paying in a restaurant or shop (88 per cent), whereas only half of the over 55s would let that happen without a fuss.
Andrew Goodsell, Chief Executive, Saga Group Ltd commented: “Our study shows a worrying trend that men and younger people are generally less concerned about ID fraud than their older counterparts, and are not taking the steps to prevent fraudulent activity.”
He recommended: “However, prevention is always better than cure, and we urge everyone to be cautious when using and handing over credit cards to strangers because fraud is on the increase.”
MARCUS
People under the age of 50 and men in particular, are more likely to expose themselves to credit card fraud or identity theft, according to research by Saga credit card; the financial website, for older people.
As most under 50, have multiple credit and debit cards, spotting fraudulent activity on their accounts is much harder. Also, with more young people living in shared accommodation and using shared letterboxes, their risk of falling victim to fraud is much higher.
Worryingly, the younger generation also seems to adopt a much more careless attitude towards the dangers of credit card fraud than the older generation, although according to APACS, credit and debit card fraud increased by 25 per cent last year.
Of those questioned, 94 per cent own a credit or debit card, with 86 per cent of them saying they had up to four cards. In addition, more than half of participants admitted they carried all their cards with them at once, multiplying the risk of fraud if they were to lose their wallet.
Those with multiple cards, over a fifth (22 per cent) of 18 to 34 year olds stated they only used their additional cards once a year, as opposed to just 16 per cent of the other age groups. Long intervals between card activities mean that it becomes less obvious if a card has been used fraudulently.
Just one in 10 cardholders between 18 and 34 keep their cards in a safe place and only get them out if they need to use them highlighting a need for credit card protection in case of loss or theft.
Of those who had lost one of their cards in the past, just 66 per cent bothered to report the loss straightaway, compared to a significantly higher 78 per cent of over 50s who took action immediately. The study also found that women were more cautious than men.
Also, the majority of 18 to 34 year olds would not object if their card was taken out of sight when paying in a restaurant or shop (88 per cent), whereas only half of the over 55s would let that happen without a fuss.
Andrew Goodsell, Chief Executive, Saga Group Ltd commented: “Our study shows a worrying trend that men and younger people are generally less concerned about ID fraud than their older counterparts, and are not taking the steps to prevent fraudulent activity.”
He recommended: “However, prevention is always better than cure, and we urge everyone to be cautious when using and handing over credit cards to strangers because fraud is on the increase.”
MARCUS
Dec
26
Simar asked:
we are new to canada so in order to make credit history we applied for credit card to capital one. Capital one issued credit card to my wife with $3000 as limit. we used 2-3 times after that they stopped it. They sent letter that fraud was detected on our card and we have to send them photo id or utitlity bill. all utility bill comes in name of my husband so i sent them my photo id. Today they called and said that they are closing my credit card and mentioning reason as FRAUD. I want to know will this effect my credit history
LUCAS
we are new to canada so in order to make credit history we applied for credit card to capital one. Capital one issued credit card to my wife with $3000 as limit. we used 2-3 times after that they stopped it. They sent letter that fraud was detected on our card and we have to send them photo id or utitlity bill. all utility bill comes in name of my husband so i sent them my photo id. Today they called and said that they are closing my credit card and mentioning reason as FRAUD. I want to know will this effect my credit history
LUCAS
Sep
17
May I see some id please?
Filed Under Credit | 4 Comments
Beauty & Brains asked:
Last week while I was at work, I was told of the high rate or credit card theft. Wanting to slow it down and prevent it from happening at my register, I asked customers for their id when using a credit card. Of all the people I asked, only one lady got pissed. “Why do I have to show id for a $5 purchase?” My manager went over to apologize to the customer and told me not to ask for id’s anymore. About an hour later, I had an older caucasian male in his mid 30’s come through with a credit card that had a chhinese/japanese name on it. I truely believe that credit card fraud stops at the registers. If more cashiers asked for id, the rate would truely go down. What’s your thoughts on this topic? I’d rather give 5 seconds to show my id, than to have someone taking 5 months plus of my time with me straightening the fraud out. Thanks in advance.
RUSS
Last week while I was at work, I was told of the high rate or credit card theft. Wanting to slow it down and prevent it from happening at my register, I asked customers for their id when using a credit card. Of all the people I asked, only one lady got pissed. “Why do I have to show id for a $5 purchase?” My manager went over to apologize to the customer and told me not to ask for id’s anymore. About an hour later, I had an older caucasian male in his mid 30’s come through with a credit card that had a chhinese/japanese name on it. I truely believe that credit card fraud stops at the registers. If more cashiers asked for id, the rate would truely go down. What’s your thoughts on this topic? I’d rather give 5 seconds to show my id, than to have someone taking 5 months plus of my time with me straightening the fraud out. Thanks in advance.
RUSS
Sep
16
Younger People More Susceptible to Credit Card Fraud and Identity Theft
Filed Under Credit | Leave a Comment
Phil asked:
With APACS revealing credit card fraud had risen by 25 per cent in 2007, research from Saga found that people aged less than 50 years old, and especially men, are more likely to be the victims of card fraud or identity theft. This they say is down to the fact that younger people tend to have multiple credit and debit cards which makes fraudulent activity harder to spot.
Of those surveyed, 94 per cent admitted to owning a credit or debit card with 86 per cent saying they have up to four different cards. Over half of those questioned said they carried all their cards with them at the same time, further increasing the risk of fraud should their wallets or purses go missing.
The report from Saga also showed that 22 per cent of people aged between 18 and 34 years old, with multiple cards, and 16 per cent of those aged 35 to 49 years old, only used their extra cards once a year. However, long periods of time without using the cards, makes it harder to identify if the card has been used fraudulently.
One in 10 cardholders only, admitted to keeping their cards in a secure place which highlighted a need for card protection against loss or protection. Saga’s research illustrated the laid back approach younger people have towards guarding themselves against fraud with just 66 per cent of those who discovered their card had been lost or stolen, making an effort to report it straight away. This is in comparison to 78 per cent of cardholders aged over 50 years old who took action immediately.
Chief executive of Saga Group Limited, Andrew Goodsell said, “Our study shows a worrying trend that men and younger people are generally less concerned about ID fraud than their older counterparts, and are not taking the steps to prevent fraudulent activity. However, prevention is always better than cure, and we urge everyone to be cautious when using and handing over credit cards to strangers because fraud is on the increase.”
An astonishing 88 per cent of customers aged between 18 and 34 years old say they would not object to their card being taken out of sight when paying in a shop or restaurant. Just over half of those aged 50 year olds or more were happy for the same to happen.
People who bank or shop online also tend to be of a younger generation and this has also help the increase in people aged less than 50 become the victims of fraud.
Jemma Smith, APACS spokeswoman said, “There were zero online banking fraud losses in 2003 in the UK.” That figure had shot up to £33.5 million being lost by 2006.
“The increase in internet fraud could be expected when you look at how many more businesses are accepting online transactions. The problem is that criminals are targeting the customers more than the technology. It is about hacking into computers as much as it is about tricking users into revealing their card or account details. That is why opening an unsolicited e-mail is like opening the front door of your home to a stranger,” Smith said.
JOSE
With APACS revealing credit card fraud had risen by 25 per cent in 2007, research from Saga found that people aged less than 50 years old, and especially men, are more likely to be the victims of card fraud or identity theft. This they say is down to the fact that younger people tend to have multiple credit and debit cards which makes fraudulent activity harder to spot.
Of those surveyed, 94 per cent admitted to owning a credit or debit card with 86 per cent saying they have up to four different cards. Over half of those questioned said they carried all their cards with them at the same time, further increasing the risk of fraud should their wallets or purses go missing.
The report from Saga also showed that 22 per cent of people aged between 18 and 34 years old, with multiple cards, and 16 per cent of those aged 35 to 49 years old, only used their extra cards once a year. However, long periods of time without using the cards, makes it harder to identify if the card has been used fraudulently.
One in 10 cardholders only, admitted to keeping their cards in a secure place which highlighted a need for card protection against loss or protection. Saga’s research illustrated the laid back approach younger people have towards guarding themselves against fraud with just 66 per cent of those who discovered their card had been lost or stolen, making an effort to report it straight away. This is in comparison to 78 per cent of cardholders aged over 50 years old who took action immediately.
Chief executive of Saga Group Limited, Andrew Goodsell said, “Our study shows a worrying trend that men and younger people are generally less concerned about ID fraud than their older counterparts, and are not taking the steps to prevent fraudulent activity. However, prevention is always better than cure, and we urge everyone to be cautious when using and handing over credit cards to strangers because fraud is on the increase.”
An astonishing 88 per cent of customers aged between 18 and 34 years old say they would not object to their card being taken out of sight when paying in a shop or restaurant. Just over half of those aged 50 year olds or more were happy for the same to happen.
People who bank or shop online also tend to be of a younger generation and this has also help the increase in people aged less than 50 become the victims of fraud.
Jemma Smith, APACS spokeswoman said, “There were zero online banking fraud losses in 2003 in the UK.” That figure had shot up to £33.5 million being lost by 2006.
“The increase in internet fraud could be expected when you look at how many more businesses are accepting online transactions. The problem is that criminals are targeting the customers more than the technology. It is about hacking into computers as much as it is about tricking users into revealing their card or account details. That is why opening an unsolicited e-mail is like opening the front door of your home to a stranger,” Smith said.
JOSE
Aug
30
David Kamau asked:
Identity theft, or simply ID theft, is the fastest growing crime in America. The reason is simple; it pays and often the criminals off with light sentences. This article offers ways to prevent identity theft.
You should also know that that there are different forms of identity theft. Some of these are as follows:
1. Full identity theft: someone steals your data and then goes on to live as you. He/she will pose or disguise his/herself as you, obtain an identification documents and then clean you out - that is bank account, credit lines etc.
2. Credit hijacking: The thief will simply use your name and good credit to open new credit lines and then go on spending sprees, of course, without paying the bills. You only realize when you either get denied credit, get a call from your bank or some other bank or creditor, or receive a bill you have no idea about.
3. Synthetic identity theft: This involves using bits and pieces of personal information from several victims to create a whole new identity. This is perhaps the most difficult form of ID theft to detect.
There are the obvious precautions anyone can take and often offered as preventive ways. These will probably stop a petty thief, but the modern ID thief is much more sophisticated.
These mundane identity theft prevention ways include advice such as “shred your documents”, “don’t carry your social security card in your wallet”, and “don’t throw documents in the trash” and the like. Good measures, but the sophisticated thief would laugh at these.
You can stop most ID thieves on their tracks by placing a fraud alert on your credit file with the three major credit bureaus. Unlike credit monitoring, which alerts you after the fact, with a fraud alert you get contacted before any new credit lines are opened.
A fraud alert is only good for three months. After three months, you have to renew it, which the bureaus are not enthusiastic to do as they make money by selling your information to third parties for marketing purposes (which they cannot do if you have a fraud alert on your file).
You should also invest in a good antivirus and spyware remover for your computer. Keystroke loggers can get downloaded into your system, without you realizing it. Keystroke loggers track everything typed into a computer and then report back to the scammer via the Internet.
PIERRE
Identity theft, or simply ID theft, is the fastest growing crime in America. The reason is simple; it pays and often the criminals off with light sentences. This article offers ways to prevent identity theft.
You should also know that that there are different forms of identity theft. Some of these are as follows:
1. Full identity theft: someone steals your data and then goes on to live as you. He/she will pose or disguise his/herself as you, obtain an identification documents and then clean you out - that is bank account, credit lines etc.
2. Credit hijacking: The thief will simply use your name and good credit to open new credit lines and then go on spending sprees, of course, without paying the bills. You only realize when you either get denied credit, get a call from your bank or some other bank or creditor, or receive a bill you have no idea about.
3. Synthetic identity theft: This involves using bits and pieces of personal information from several victims to create a whole new identity. This is perhaps the most difficult form of ID theft to detect.
There are the obvious precautions anyone can take and often offered as preventive ways. These will probably stop a petty thief, but the modern ID thief is much more sophisticated.
These mundane identity theft prevention ways include advice such as “shred your documents”, “don’t carry your social security card in your wallet”, and “don’t throw documents in the trash” and the like. Good measures, but the sophisticated thief would laugh at these.
You can stop most ID thieves on their tracks by placing a fraud alert on your credit file with the three major credit bureaus. Unlike credit monitoring, which alerts you after the fact, with a fraud alert you get contacted before any new credit lines are opened.
A fraud alert is only good for three months. After three months, you have to renew it, which the bureaus are not enthusiastic to do as they make money by selling your information to third parties for marketing purposes (which they cannot do if you have a fraud alert on your file).
You should also invest in a good antivirus and spyware remover for your computer. Keystroke loggers can get downloaded into your system, without you realizing it. Keystroke loggers track everything typed into a computer and then report back to the scammer via the Internet.
PIERRE
Aug
25
What happens when you agree to let the bank press charges in a fraud claim?
Filed Under Credit | 5 Comments
lioness021186 asked:
Last month, my debit card number was stolen somehow and i had fraudulent charges to some international company id never heard of on my card. I filed a fraud claim and was given a temporary credit of the money and signed affadivits basically saying that it was fraud. Today the bank called me to ask me questions about the claim, and apparently found the person who did it(via email address, which was one I never saw in my life). They asked me if I would be willing to pres charges, and said if i said no that theyd have to take back the credit. So I agreed, I just wanted to know if anyone knows what happens now that they are pressing charges. WIll I get charged anything for them to do it? Because I really cant afford to pay for this especially considering that the reason they are pressing charges is so that I can keep the money that is rightfully mine, since I didnt spend it, and it doesnt make any sense to have to pay money to keep my money.
To clarify, I do not know the person who did it. So it is not about being nice to someone, I just dont want to have to pay for pressing charges
JON
Last month, my debit card number was stolen somehow and i had fraudulent charges to some international company id never heard of on my card. I filed a fraud claim and was given a temporary credit of the money and signed affadivits basically saying that it was fraud. Today the bank called me to ask me questions about the claim, and apparently found the person who did it(via email address, which was one I never saw in my life). They asked me if I would be willing to pres charges, and said if i said no that theyd have to take back the credit. So I agreed, I just wanted to know if anyone knows what happens now that they are pressing charges. WIll I get charged anything for them to do it? Because I really cant afford to pay for this especially considering that the reason they are pressing charges is so that I can keep the money that is rightfully mine, since I didnt spend it, and it doesnt make any sense to have to pay money to keep my money.
To clarify, I do not know the person who did it. So it is not about being nice to someone, I just dont want to have to pay for pressing charges
JON