Identity Theft | The Road Back to Recovery

How To Protect Yourself From Identity Theft Part 2

Stopping Identity Theft | How To Protect Yourself From Identity Theft Part 2

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How Identity Theft Effects You and What to do to Stop It in It's Tracks

How To Protect Yourself From Identity Theft

Part 2

Identity theft has become the fastest growing criminal activity in the 20th Century, replacing illegal drug sales.

For the perpetrators, it offers the highest profit margin with the least risk. In fact, according to one expert, it is estimated that fewer than 1-in-700 identity crimes actually result in a conviction.

In the United States alone, Identity Theft has reached $53 billion dollars a year. Consumers are directly shouldering about $5 billion of that, but the rest, which is paid by businesses and retailers, is passed on indirectly to consumers who are paying more for goods and services.

How BIG is this Problem?

In recent months, there has been a rash of reports about big thefts, where criminals are stealing identities in mass quantities.

Banks, credit card companies and businesses that house servers storing passwords or other sensitive, private information have all reported “break-ins” that happened through the use of Trojan viruses and other online hacking methods – resulting in the loss of millions of pieces of information being stolen.

There have also been instances of the information just getting “lost”, of employees selling it and other lax security measures resulting in the same thing – thieves having access to your identity.

What do Thieves Want?

- Your Name
- Date of Birth
- Home Address
- Phone Numbers
- Social Security Number
- Driver’s License Number
- Credit Card Numbers
- CW2 Security Code (the number on the back of your credit card)
- Your Credit Report
- ATM Cards
- Telephone Calling Cards
- Mortgage Details

Where Are They Getting All Your Information?

High-tech methods include online thefts from:

- Banks
- Credit-Reference Agencies
- Retailers
- Credit Card Networks
- Data-Brokerage Companies
- Payment Processing Companies
- Phone Companies
- Schools
- Your Employer
- Doctors, Clinics and Health Departments
- Government Agencies

But there are still low-tech methods that are effective as well:

- Dumpster Diving
- Mail Theft
- Retail Theft
- “Phishing”/pretexting/pretending
- Purse/Wallet Theft

What are Thieves Using Your Information For?

- Making charges to your existing credit cards
- Opening new credit cards in your name
- Having phone or utilities turned on
- Withdrawing money from your existing bank accounts
- Employment purposes
- Driver’s Licenses
- Tax Fraud
- Social Service benefits
- Student loans
- Business or Personal loans
- Health care
- Mortgage loans/leases
- Auto loans
- Using your ID when caught committing a crime

How Can You Protect Yourself?

- Keep a photocopy of all your credit cards, bank account numbers and investment account numbers in a safe place

- Keep your credit card receipts – don’t throw them away in a public place

- Put a “fraud alert” on all your credit reports

- If you apply for credit and the card doesn’t arrive on time, call the card issuer

- Choose difficult to guess PIN numbers or passwords. (Don’t use birth dates, your mother’s maiden name, pet’s name, etc.)

- Never give personal information to anyone who sends you an email, a letter or calls you asking for it

- Shred any personal information – such as bills, credit card or bank statements, even pre-approved credit applications before throwing them away

- Don’t use the ATM machine if someone is watching you

- Pay attention to what’s going on around you – cell phones often have cameras in them. If someone is standing close by you with a cell phone while you're entering a PIN number at the ATM or in line at the grocery store, block their view

- Review your bills each month for unusual or suspicious charges. If there’s something you don’t remember or doesn’t seem right, call the creditor right away

- Check your credit report at least once a year

- Store your cancelled checks safely, or better yet, have the bank do it. You can always get a copy if you need one.

- Don’t leave your purse in plain sight when driving

- Keep your valuable locked in the trunk or glove box when driving

- Make all personal information on your laptop or computer password protected

- Don’t carry information about your PIN numbers, passwords and account numbers in your purse or wallet; or at least don’t make them easily identifiable as to which account they belong to

Warning Signs that Your Identity Has Been Stolen:

- Although you have good credit, a loan application is denied, or you’re refused extended credit requests
- You are suddenly contacted by a debt-collection agency
- Your purse or wallet has been stolen, or your house broken into
- There is unfamiliar activity on your credit report

What to do if it Happens to You:

- If your purse or wallet is stolen, call the police immediately, and file a report. Make sure that you’re given a report number

- Contact your bank, credit card and other credit extending companies and report the theft

- Close the accounts

- Contact the credit-reporting companies in your area, and report the theft.

- Review your credit report every 90 days for the next year for suspicious activity

- If there is fraudulent activity, have it removed immediately and monitor your credit report every 90 days for the next year

- Put everything in writing, and follow up with your credit card companies, banks, and credit reporting agencies. Keep copies of all supporting documents

- File a report with the Federal Trade Commission

- Change the passwords on your existing accounts and create new ones for new accounts

Identity theft is real, and it’s a growing problem, and it could happen to you. Although there are no guarantees that you can keep your information safe, by paying attention to the risks and taking proactive steps to protect yourself, you can minimize your chances of someday having an "identity theft crisis".

Identity Theft Secrets

BoNY 4.5 Million Consumer's Data Loss

View Original Article Sat, 31 May 2008 14:40:51 -0500
This just in from the "when will they ever learn" file. The Bank of New York (BNY Mellon) waited 8 weeks after the Connecticut legal requirement to inform the public of this very serious data loss...

[[ This is a content summary only. Visit http://idtheftsecrets.blogspot.com/ for full links, other content, and more! ]]

BoNY 4.5 Million Consumer's Data Loss [Flickr]

View Original Article Sat, 31 May 2008 14:31:57 -0500

IdTheftSecrets posted a photo:

The Bank of New York (BNY Mellon) waited 8 weeks
after the Connecticut legal requirement to inform the
public of this very serious data loss involving personal
information which was unencrypted.

Discover the Shocking Truth to Identity Theft

Identity Theft Hits Lifelock CEO From His Own Ads

View Original Article Mon, 26 May 2008 22:29:31 -0500
In response to dares posed by the CEO of Lifelock, an Arizona firm which has run ads featuring his Social Security Number (SSN), an instance of identity theft fraud was successfully perpetrated...

[[ This is a content summary only. Visit http://idtheftsecrets.blogspot.com/ for full links, other content, and more! ]]

Identity Theft - Google News

DMX Charged with Identity Theft - San Francisco Chronicle

View Original Article Wed, 23 Jul 2008 22:25:33 GMT

San Francisco Chronicle

DMX Charged with Identity Theft
San Francisco Chronicle, USA - 11 hours ago
The star -- real name Earl Simmons -- was charged in Arizona on Tuesday with one count of theft and one count of stealing someone else's identity. ...

Former bank teller pleads guilty to identity theft - Ft. Washington Montgomery Newspapers

View Original Article Thu, 24 Jul 2008 07:05:49 GMT

Former bank teller pleads guilty to identity theft
Ft. Washington Montgomery Newspapers, PA - 2 hours ago
A former teller at the Lafayette Hill branch of the Wachovia Bank has admitted his involvement in an identity theft ring that stole $43000 from bank ...

Facts About Identity Theft - American Chronicle

View Original Article Wed, 23 Jul 2008 15:27:59 GMT

Facts About Identity Theft
American Chronicle, CA - 18 hours ago
Identity theft is the quickest growing crime in the nation. It is said to be the number one fraud crime at this time. The facts of how widespread this crime ...

Yahoo! News Search Results for identity theft

Man gets five years for identity theft (El Paso Times)

View Original Article Thu, 24 Jul 2008 06:20:11 GMT
ID theft sentence: EL PASO -- A man was sentenced to the maximum five years in prison for identity theft by U.S. District Court Judge Frank Montalvo, the U.S. attorney's office said Wednesday.

Former bank teller pleads guilty to identity theft (The Colonial)

View Original Article Thu, 24 Jul 2008 07:29:36 GMT
A former teller at the Lafayette Hill branch of the Wachovia Bank has admitted his involvement in an identity theft ring that stole $43,000 from bank customer accounts.

Identity theft suspect arrested, hit 2 Phoenix Alltel stores (ABC 15 Phoenix)

View Original Article Thu, 24 Jul 2008 00:52:00 GMT
Police arrested an identity theft suspect at a Phoenix hotel on Wednesday. Delbert Peck allegedly used false social security numbers to open cellular phone accounts.

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