What Are the Most Common Ways to Commit Identity Theft or Fraud?
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.creditdamage.com to find out what you can do about it. Cathy Taylor is a marketing consultant with over 25 years experience. She specializes in internet marketing, strategy and plan development, as well as management of communications and public relations programs for small business sectors. She can be reached at Creative Communications: creative-com@cox.net or by visiting http://www.creditdamage.com or http://www.internet-marketing-small-business.com
Related News
|
 |
|
|
RELATED ARTICLES
Tackling Bad Credit
The first time I heard the term credit history was when I approached a lender for a secured loan. Being a first timer I was completely ignorant of the procedure and didn't even know that a credit record of our transactions is prepared by some credit reference agencies.
Free Credit Reports - How to Maintain Your Credit Profile
Maintaining your Credit Profile
Bounced Checks - Straight Talk On Dealing With Bad Checks (NSF)
A check can be considered bad if it is bogus or the NSF checks (non sufficient funds check), also referred as bounced check.
Are 0% Credit Cards Reaching Their End?
Are Credit Card companies starting to feel the pinch? We all know that the Credit Card companies make their money by charging us interest on the money we borrow. With all the 0% balance transfer offers that we have seen over the last few years its no wonder these companies are concerned they aren't making any money. Many customers who take advantage of these offers move once the 0% period has expired.
How Can A Qualified Mortgage Consultant Help Boost Your Credit Scores?
Consumers interested in purchasing or refinancing a home will pay an interest rate based on current market conditions and their ability to pay back the loan. The borrower's income and debt ratios are taken into consideration by the lender, as well as the predictability factor provided by credit scoring. It's important to have a mortgage professional in your corner that has a keen eye for solutions to improving credit scores in an effort to get the best interest rate possible.
The Exact Action To Take When You Find Errors In Your Credit Report
There are times when you may be turned down for credit and you do not understand why.
Tired Of Being Broke?...Learn How To Force Banks To Give You Money!
Imagine...obtaining credit that's incredibly easy...opening doors of opportunity you never even considered being possible. Credit which will allow you to take the dream vacation of a lifetime, drive luxury cars, dress in the latest fashions, achieve the American dream of owning your own home, or even start your very own business. With these time-tested proven step by step strategies, all of this can now be possible!
Important Things to Know About Divorce and Credit
Joint debts remain joint debts.
Reward Credit Cards: Get the Best Rewards Card Incentive Program
A good credit reward card can contribute to your retirement account, offer gas rebates, score theme-park or vacation tickets or take thousands off the
price of your next auto purchase. Rewards at hotels, airlines, and retailers bring more to the possibilities but, adds to the confusion. Here are some tips to find the best reward programs for you to increase your buying power.
Secured Credit Cards- Consumer Tips
Whether you have no credit or damaged credit, secured credit cards are a good tool for building a good credit history.
10 Simple Steps to Manage Your Credit
By far the greatest invention the banks have ever come up with came out in the 20th century. Also the new field of Credit Management was born with the invention of the credit card. It is the most available out of any financial product out there. In fact more than 80% of the U.S. households have at least one credit card. If you want to consider yourself as the "Average" American then you have about 8 credit cards burning a hole in your wallet right now. To make sure that you don't get yourself in any trouble (again) try and follow these 10 Simple Steps for Credit Management.
How a Credit Card Can Be Your Friend
We have all heard countless stories of people over their
heads with credit card debt-maxing out every card they own,
then only being able to afford the minimum monthly payment.
High interest payments shackle people to their debt for
years, not to mention the significant income drain the
finance charges have on their families.
Teaching Students To Keep Out Of Credit Card Debt - The Parents Role
Parents have the full responsibility for their children and their education. It is up to parents to teach their children what's right and what's wrong, how to conduct themselves as good citizens, how to cross the road safely and generally protect themselves from harm. In fact, up until the time that child is an adult, the parents have responsibilities in every part of that child's life, right up until the time they are a college student.
7 Compelling Reasons Why A Prepaid Debit Card May Be Just The Financial Tool You Need
Prepaid debit cards are great financial tools and may be just the financial tool you need. Here a seven compelling reasons why:
Clean Credit Report: Easily Raise Your Credit Score 100 points
Clean Credit Reports, your credit report contains information about where you work, live and how you pay your bills (On time or not). It also may show whether you've been sued, arrested or have filed for bankruptcy with in the last 10 years. Companies called consumer reporting agencies (cra) or credit bureaus compile and sell your credit report to businesses all over the world.
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. You must pay at least a minimum amount by the due date, generally once every month. You will pay a finance charge or interest on any amount you do not pay by the due date.
Minimize your Risk for Identity Theft
Identity theft is the fastest growing crime in America. According to the Federal Trade Commission, the number of identity theft incidents reached 9.9 million in 2003. These crimes are estimated to have taken the average victim $500 and 30 hours to resolve.
Credit Card Debt: One Way To Avoid It
One of the biggest problems people have in these modern times is Credit card debt, and worst is USA.
Simply because there have always been so many laws and regulations before you could have a
card in the rest of the world, you can't for instance borrow someone elses card and go shopping because
you always have to show some ID before they accept cards in Europe.
Identity Theft ? Guard Your Childrens Social Security Numbers
Identity theft is a growing concern among Americans, and rates among the top five complaints received by states' Attorney General's offices. A stolen identity can lead to tens of thousands of dollars worth of debt in the victim's name and it can take years to completely undo the damage done to the victim's credit report. Identity thieves can successfully commit crime with as little as a driver's license number or credit card number, but the ideal target of such criminals is the Social Security number. With that number in hand, the identity thief can pass themselves off as the victim and open credit card accounts, bank accounts, and even obtain home equity loans. As more Americans become aware of the problems posed by identity theft, consumers are doing more to protect themselves. This has inspired thieves to look to a new source of identities to steal, and they have found one. They are now stealing the identities of children.
Myths and Truth about Credit Scoring
Credit score is the key factor determining approval of almost any type of credit. It is based on the information contained in your credit report files. The widely used FICO score was developed by Fair Isaac Corporation, and it is a formula which assesses your potential credit risk.
|
