| |
| |
|
Credit Information |
|
|
|
Identity Theft Exploding: Here's How You Can Avoid Becoming A Victim
Americans are more concerned about identity theft than unemployment or corporate fraud, according to a survey of 2,000 people conducted by Star Systems. Nine out of ten Americans demand new federal legislation, while two-thirds say the financial services industry needs to do a better job of verifying the identity of customers who open bank accounts (66 percent) and credit card accounts (72 percent). Some 5.6 percent of respondents reported being victims of identity theft, which translates to 12 million people. When debit and credit card fraud and identity theft were combined, close to 15.9 percent of consumers say they have been the victim of one of these crimes. (Source: Star Systems, 2003) For most of us, using your debit or credit card to make a purchase has become an every day aspect of life. Many of us do it every day and feel safe in doing so. But it is far from safe. People with your debit or credit card information may make purchases with your card information over the telephone, via the Internet, or at a local retail store. As we moved to a cashless system of transactions by debit or credit card, a relatively simple crime niche has grown - identity theft and fraud. Some law enforcement authorities are not pursuing the crime in a coordinated and cooperative fashion. Thus, a situation has grown that affords the people who perpetrate such acts of theft and fraud, act with a degree of confidents that they will not get caught. What can you do to reduce your chances of becoming a victim of identity theft or fraud? Here is a list of actions that you can take to avoid becoming a victim of identity crimes. 1. Never throw receipts or statements away that have personal information on them. The trash is the greatest repository of information for the identity thief. Even better, shred everything that has identifying information on it (transaction receipts, etc.). 2. Pay to have an unlisted telephone number in your local telephone directory. 3. Take as much identification off of your personal checks and driver's license as possible. Thus, no home addresses, phone numbers, or social security numbers on personal checks. Last only your last name and first initial rather than your full name. You want a retail clerk to check your ID when you are cashing a check. Most states now provide a photo ID on all new automobile drivers licenses issued. If you do not have one, conceder getting your licenses renewed now to get a photo ID for identification purposes. Do not put your social security number on your driver's license. 4. Check your bank accounts for suspicious activity everyday, this can be done online via the Internet. 5. Have your middle initial removed from all public documentation if possible. Middle initials help identity thieves narrow down their searches for victims. 6. If someone calls you asking for your personal information on the telephone - do not provide any personal information to anyone over the phone. 7. Don't leave your mail out overnight. If you will be away from home for any period of time: have your home mail delivery stopped. If possible, secure a locked mail box at your local post office or a retail store mail box service for your home mail delivery. If you go on vacation, have your mail and newspaper delivery stopped and arrange to have your yard maintained. Include the post office, newspaper service, and your friends or neighbors to insure that your home looks as if it is occupied while you are gone. For a checklist for your home security while you are away see - www.ProtectionConnect.com/homesecuritychecklist.html or www.ProtectionConnect.com/sitemap.html#home 8. Write "Check ID" on the back of your debit or credit cards next to your signature. In that way, when a retail store checks your signature on your card, they will verify that the card is being used by the proper individual. 9. Be aware of people standing too close to you and "shoulder surfing" you while you conduct your ATM transactions. If you do become a victim of an identity crime - do the following: 1. Demand to file a police report no matter how unwilling the law enforcement office may be. Make sure to get a copy or at least the report number. 2. In the case of card fraud, make sure to cancel your card and report it as stolen to your credit card company as soon as you find out. Immediately, fill out affidavits with the appropriate financial institution denying that you were the one who made the relevant purchases. In most cases, the banks will respond with up to a 30-day process that requires the businesses that accepted the fraudulent transactions to repay the banks. 3. Report the fraud to the three major credit bureaus: * TransUnion * Equifax * Experian 4. The U.S. Secret Service handles fraud cases that cross state borders. If you know that your case applies, contact their local office to make them aware of your case. If it is part of a broader fraud case, you may be contacted by an agent. 5. You can also fill out a complaint form with the Federal Trade Commission, although this is strictly used to track national identity theft statistics. Copyright Steven Presar About The Author Steven Presar is a recognized small business technology coach, Internet publisher, author, speaker, and trainer. He provides personal, home, and computer security solutions at www.ProtectionConnect.com. He provides business software reviews at www.OnlineSoftwareGuide.com. In addition, he publishes articles for starting and running a small business at www.abcResults.com. Be sure to sign-up for the SOHO newsletter.
MORE RESOURCES:
Credit - Google News |
|
|
|
RELATED ARTICLES
10 Dirty Tricks Credit Card Companies Play The credit card companies make billions each year in legitimate interest charges and fees, but are under constant pressure from the shareholders to increase their earnings. To make this extra money the credit card companies sometime adopt some dirty tricks to make this money. Balance Transfers Introduction Credit card balance transfer involves using a credit card to pay off the amount outstanding on one or more credit/store cards. The total debt then moves to one card. Credit Card Traps: How To Spot Them On The Spot! They arrive in your mail - a conspicuous looking mail piece from some "official looking" bank claiming that you have been Pre-Approved for a Mastercard or VISA credit card.Of course, you don't have to have any credit. Credit Repair: How To Deal With Your Creditors If you are in danger of credit problems because you have more debts than you can handle, there are things you can do at least keep your creditors reasonably happy.First, prioritize your debts or rank them in terms of the ones that can give you the most trouble the quickest. Finding the Right Credit Card There are so many credit cards out there to choose from that deciding which one to get can feel really daunting. What makes one offer better than the hundreds of others you've seen? Take this little quiz to find out what you should look for in a card. Comprehending a Credit Report Obtaining a credit report is an excellent way to begin taking control of your financial future. It's recommended that you review your credit report once a year, not only to be aware of your standing with creditors but to also keep abreast of errors and fraud. Is Plastic Making You Happier? If you're like most people, you probably own at least one.And like most people, you've maybe never thought what it's really costing you?At a recent conference held by the Fabian Society at London's Imperial college, one of the issues discussed was happiness, and, more specifically, why it seems to elude so many of us. Student Credit Cards 101 Almost all students have and use student credit cards. Some of the students use them wisely and build for them an early credit history but others accumulate lots of debts that would have to be paid off once the student life is over. How Creditors Measure Your Credit Rating Creditors will measure your credit rating based on the following three main things.CapacityCollateralCharacterThe three "C's" show creditors your:"Capacity" or income to pay the debt"Collateral" or assets to secure the obligation"Character" shows your compliance to repay the debt1. What is a Credit Card? A credit card allows you to buy things even though you might not have the money to pay for it right away. The company that gave you the card lets you spend up to an agreed sum and then makes additional money available to you as you pay off what you've spent. Looking for that Low interest Credit Card? If you have been shopping around for a Low Interest Credit Card you will notice that the UK market is awash with Credit Card companies offering low rates to entice you to apply for their Cards.There has never been a better time to consolidate your credit cards and get a far better interest rate. Compare Credit Card Offers and Reward Yourself Here's a simple system on how to pay zero interest and get tons of free stuff. Almost everyone uses credit cards. Student Credit Cards STUDENT CREDIT CARDS With graduate debt averaging over 12,000, the ability to spread the cost of further education using a student credit card is obviously attractive. Adding to their appeal is the fact that these cards are relatively easy to obtain. 10 Signs You May Need Credit Counseling Debt management programs can be of real help for people that discover they cannot face their debts. At first, they will attempt to solve the situation all by themselves by cutting down on spending and keeping a close eye on accounts. Will Inquiries Lower Your Credit Score? What are inquiries?When you apply for credit the creditor or lender checks your credit report to verify that you qualify for the credit or loan you are applying for. The "inquiry" is then reported to the credit bureaus and shows up on your credit report. How to Improve Your Credit Rating So you got into debt, had problems but you got yourself back on your feet through hard work and sacrifice and how are you rewarded? A Bad Credit Rating.You would be forgiven for thinking thats not fair and why did you bother sorting yourself out if your hands are still tied when it comes to applying for anything financial? There are ways to improve your credit rating and get back on track completely. How Businesss Mess Up Their Credit Policies In "Become the Squeaky Wheel" a book recently published, Michelle Dunn demonstrates the major areas a business should focus on to ensure a satisfactory customer experience.One mistake business owners make is not having a credit policy in place when they open their business. First Major Regulatory and Legislative Victory of 2005 for Creditors and Consumers Under the Fair Debt Collection Practices Act, collectors are not allowed to disclose a consumers past due debt to anyone other than the debtor and in some cases a spouse. The Telephone Consumer Protection Act would have required collectors to identify the registered name of their business in any pre-recorded messages to consumers or debtors. Establishing Credit - What You Need To Know Part 2 In my previous article "Establishing Credit - What You Need To Know Part 1" I discussed the need for a good credit history and what lenders were looking for prior to loaning an individual money or additional funds based on their credit history. This article will go into the necessary steps someone needs to take in order to initially establish their credit history. 5 Ways To Raise Credit Score It's not as hard as you think to raise credit score. It's a well known fact that lenders will give people with higher credit scores lower interest rates on mortgages, car loans and credit cards.
|
| home | site map |
| © 2008 |
Comment by Marshal Cohen