By admin on April 7, 2012
Tips for Preventing Identity Theft
Article by J Curtis
Identity theft has reached epidemic numbers. According to Federal Trade Commission (FTC) statistics, in the U.S. alone there’s a new identity theft victim every four seconds. It may therefore be more a matter of when and not if it happens to someone.
Becoming a victim of identity theft or some other type of credit fraud can be an extremely stressful and costly experience if not handled swiftly and correctly. Although the victim may be protected financially, correcting the problem will still likely require a significant amount of time on their part.It’s estimated that victims of identity theft must make a time investment of between 175 and 600 hours or more to recover their good names and clear the incident from their records.
So, how can someone determine if their identity has been stolen? There are a number of telltale warning signs that they should watch for, such as:
- Their credit reports list new credit cards issued in their name that they never applied for or received.- Their credit reports list information about accounts that they didn’t open and know nothing about.- They might notice charges on their monthly credit card- or bank statements that they didn’t authorize.- They might stop receiving monthly credit card statements or important bills altogether.- They might receive bills from companies with whom they’ve never done business.- They might receive phone calls from creditors or collection agencies concerning accounts that they know nothing about.
It is important to take immediate action as soon as one becomes aware of identity theft or some other type of credit-related fraud. They should contact their creditors and bank immediately to inform them of their suspicions. If they’ve had a credit card lost or stolen (or they notice potentially fraudulent charges on their statement), they should report it immediately to the card issuer. Also, file a report with the local police department and obtain a
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Posted in Identity Fraud | Tagged Identity, Preventing, theft, Tips.
By admin on April 7, 2012
A Guide to Preventing Identity Theft
Article by Egiz Toeb
Posted in Identity Fraud | Tagged Guide, Identity, Preventing, theft
By admin on April 7, 2012
Forbidding Identity Fraud Is Principal
Article by Christopher S. Norwood
When it comes down to your financial future, there is nothing more important then protecting yourself from identity fraud. This is because is it your job and your job only to prevent identity theft in order to make sure that everything goes smoothly for you in the future. Identity fraud is nothing to take lightly as it can turn a persons world completely upside down in a matter of moments.
There have been cases where credit cards, car loans, and even mortgage loans have been taken out in a persons name through identity fraud. Sometimes the people doing the identity fraud can be caught and other times they are not. But the faster you notice something is wrong and take action, the better the chances will be that the thief gets caught.
There is never a reason that you should not take action, even if you know the person who is using your credit. Never let the wrong doings of someone else cause you financial trouble. Your future is completely in your hands and that is why it is so important that you take identity fraud seriously.
Steps You Should Take
While it may seem like common sense, you should never release your social security number to anyone over the phone. Not only could the person on the other end be taking that information to use it for identity fraud, but also if you are on a cellular phone or a cordless, there could be hundreds of people listening to your social security number. Never keep your social security card in your wallet either as that is just the thing someone who is into identity fraud would love to see.
Try to remember to watch your surroundings as well and never leave your wallet or purse out of sight so that it is not stolen from you. Keep an eye out on your credit report so that you can quickly identify any changes on your report that you had nothing to do with. Identity fraud will first show signs on your credit report and it is these agencies that
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Posted in Identity Fraud | Tagged Forbidding, Fraud, Identity, Principal
By admin on April 7, 2012
Identity Theft in America
Article by Jessica Harmon
The costs of identity theft are high, and not to be taken lightly. There are many laws in America that try to prevent this type of theft. There are also government branches like the Federal Trade Commission that are dedicated to stopping theft. But unfortunately we can’t find all identity theft attackers, and sometimes these criminals can slip through the cracks. The statistics on identity theft in America can show the real story of identity theft, and it is not a pretty one.
One in ten Americans will have their identity stolen every year, amounting to a total of approximately ten million Americans each year. According to official reports from 2008, only as much as forty eight percent of victims discover that their identity has been stolen within three months. As much as another eighteen percent of victims only discover the infractions within ten years. This is why it is essential to order a free credit report every year, to track your credit and make sure there are no charges that don’t belong to you.
One of the most shocking statistics about identity theft is that it has taken some consumers over five thousand hours of time to fix the damage that was done by credit card theft. That is the same amount of time it takes to earn a bachelor’s degree, or to work a full time job for two years! Most people who are affected by identity theft have to call several different groups in order to get their credit worked out. And because of the rising costs and numbers of identity thefts many consumers now carry identity theft insurance. As much as thirty percent of American consumers carry this protection at any given time.
The costs to consumers can be disastrous as well. You could end up paying for someone else’s bar tab, shopping spree, or vacation! According to official reports the annual amount of theft loss for individual Americans is around thirty one billion dollars. Businesses lose over two hundred billion
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Posted in Identity Fraud | Tagged America, Identity, theft
By admin on April 7, 2012
Identity Fraud: Relevance to Landlords and Steps to Take to Avoid Becoming a Victim
Article by Directline for Business
With increasing numbers of news reports highlighting the dangers of identity fraud, we’re all becoming more aware that our identity is precious and could be stolen. Having shredders at the ready and being on the look out for people rummaging through our bins for vital pieces of information might go some way to reducing the risk but for landlords it’s not enough. Landlords are particularly susceptible to identity fraud both from tenants with a false identity and tenants who are looking to steal the identity of the landlord or previous tenants. What can you do as a landlord to reduce the likelihood of becoming an identity fraud victim?Landlord issues Below are some steps you can take to protect yourself.* Register your title to the property at the Land Registry with a current address for service.* Register a restriction on your property title if you feel at risk.* Ensure all financial information and other personal documentation is addressed to your current home rather your rental property.* Following a void period ensure utility bills are put into tenants’ names and remove all post at the rental property which is addressed to you.* Remove all personal documentation and belongings from the property prior to showing prospective tenants around.* Check bank statements and credit card bills regularly, and investigate and report unusual entries.* Use a shredder to destroy personal documentation which you no longer require.* Arrange for your post to be redirected from the rental property.* Store personal documents, passwords and usernames in a secure place.* Obtain a credit rating every six months and be alert to false credit applications made in your name.* Register with a mailing preference service so your name is removed from direct mailing lists.Tenant issuesKnowing your tenant really is who he or she says she is is essential. The following steps should not only enable you to check out your tenants’ backgrounds but
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Posted in Identity Fraud | Tagged Avoid, Becoming, Fraud, Identity, Landlords, Relevance, Steps, Take, Victim
By admin on April 7, 2012
Corporate & Financial Fraud, Part 2 of 3
Article by F.W. Rustmann, Jr.
Continued…
Stephen Smith
Stephen Smith was arrested in 1999 in Florida for running a slick “ponzi” investment scam: While purportedly recruiting new investors for an oil-well project, he was actually taking the money for himself (there was no oil-well project) and using some of the money obtained from the new investors to pay dividends to older investors.
Mr. Smith had only been running the scam for a few months, when he had already managed to convince several individuals in the Houston area of Texas to invest several hundred thousand dollars in his oil-well scheme. One investor noted that Mr. Smith was highly convincing, and invited him to visit the wells himself. The investor did, and Mr. Smith took him on a helicopter ride of the wells and showed him immaculate records of their production and profits. The investor, who said he personally liked Mr. Smith very much after meeting him, was stunned to find out he did not own any of the wells and did not invest any money into any projects at all–oil-wells or otherwise. Of course, all of the records he was shown were forgeries.
Investors into Mr. Smith’s recent scam also could have saved themselves a lot of money by doing some very basic research before the fact rather than waiting until after the damage had been done to check out Mr. Smith.
The after-the-fact investigation revealed that Mr. Smith had been arrested then years earlier, in 1989, for running a similar ponzi scheme in his native Florida. He was sentenced to 15 years in prison after being found guilty of 19 charges of grand theft for using fraudulent financial information to obtain loans and lines of credit, one count of racketeering, two counts of organized fraud, 122 counts of the sale of unregistered securities, and 122 counts of communications fraud. In that scam, Mr. Smith defrauded approximately 700 investors out of $ 125 million. One of the individuals he convinced to
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Posted in Identity Fraud | Tagged Corporate, Financial, Fraud, Part
By admin on April 7, 2012
Important Notes on Credit Fraud
Article by Tony Francis
Like any other thing, the credit system is one which if not fully understood and rightly managed could backfire and cause problems to anyone. Because it is directly involved in the financial aspect of one’s life, there should be extra effort put in realizing its value. Unfortunately, no matter how well you manage your credit standing; there are people out there who still manage to take advantage.
Credit losses
Statistics show that people’s financial losses in the United States are attributed to credit card fraud and identity theft. Many people claim the advantages and the convenience of credit cards and other types of credit. This is the reason it isn’t shocking to find the credit system as the breeding ground for different kinds of frauds and scams. Although a huge bulk of losses could be attributed to defaults, when you become the victim, you would have to struggle against the inconveniences. Like higher prices and interests.
Types of Credit Fraud
One of the best defenses you can have against credit fraud is familiarizing yourself with how they work. In general, “credit fraud” is used to refer to the purchase of good or services using any type of credit with the intentions of not paying up. This could take the form of either one of the following:
Identity theft – When you start building a credit, you would have to disclose personal information in your application to different kinds of credit. More than that, the same kind of information is also used in the credit report. Because of this, if you are not careful in the release of information, other people can use your information hence your identity to commit credit fraud and even other crimes.
Identity assumption – This is similar to identity theft; however, this poses to be a bigger problem because the person who commits the fraud takes advantages of your identity for the longest time. In other words, you as the victim suffer more of the
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Posted in Identity Fraud | Tagged credit, Fraud, Important, Notes
By admin on April 6, 2012
How to Protect from Identity Fraud
Article by Egiz Toeb
Have you ever had a huge credit card bill without even purchasing the things listed in the credit card statement?
Have you ever been arrested for outstanding parking tickets even if you know that you didnt even commit any traffic violations?
Then you might be a victim of identity theft crime.
This kind of crime can be very damaging and frustrating for its victims. Not only that it the person committing this crime can steal your money, but the criminal can also ruin your reputation. Financial fraud, such as credit card fraud, bank account fraud and computer fraud are examples of identity theft. Another type of identity theft involves criminal activities committed in your name. Imagine yourself being investigated for a crime that you didnt commit. This can be frustrating or upsetting for anyone who becomes a victim of identity theft or identity fraud.
Crimes like these can be very devastating for the victims and also for the victims family. It can result on you being convicted for tax evasion or even fraud. There are many forms that identity theft can occur, it can simply be as simple as a lost or forgotten credit card or submitting your personal information in emails to people you dont know.
This is why you should know how to protect yourself from identity theft. It is important that you should be cautious on whom you give your personal information to and also you should be aware with all your credit cards and other things that can provide personal and financial information about you.
Here are some ways to protect yourself from identity theft:
If someone calls you and tells you that they are from the credit card company or other financial institutions, and would be asking you about your personal information, do not give it to them. Hang up the phone and call the credit card company or financial institution the caller said he or she is from.
If you need to give out your
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Posted in Identity Fraud | Tagged Fraud, From, Identity, Protect
By admin on April 6, 2012
Prevent Identity Theft
Identity theft is becoming an increasing problem in today’s world. With the trend of digital data and computers it has become easier to impersonate someone if you can get hold of their information such as credit card numbers and identity card numbers.
There are some things that you have to be careful about if you want to avoid identity theft and keep your information safe. Firstly, avoid carrying your personal information with you all the time in your wallet or handbag. Most of the cases of identity theft are the outcome of stolen wallets because the thief can then use your information to pose as you. Instead, make copies of your important cards and carry those instead.
It is also essential to take immediate action if you lose any of your cards or your wallet. It can take someone a matter of hours to completely steal your identity so you must act fast to avoid that.
Call the credit card company as soon as you realize your card is stolen and have your card blocked. Do the same with all your other cards and have new ones made.
It is also important to be up to date on all the activities taking place on your cards. If there are any transactions which you do not remember doing, report them immediately. Many people do not check their statements carefully and do not realize that their identity has been stolen until it is too late.
If you are travelling or are at home, keep your personal and business documents in a safe place. Do not carry them with you unless it is absolutely necessary and even then, always keep them under lock and key. The same should be done for electronic information. If you have saved any information on a computer other than your own personal one, delete it immediately.
Do not keep personal information in your email or other online accounts as they can be hacked. Keep your personal data safe with a secure password and beware of online sites asking for your details.
If you ever feel that your identity has been
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Posted in Identity Fraud | Tagged Identity, Prevent, theft
By admin on April 6, 2012
Corporate & Financial Fraud, Part 3 of 3
Article by F.W. Rustmann, Jr.
Posted in Identity Fraud | Tagged Corporate, Financial, Fraud, Part
Nowadays, along with the development of internet, Identity fraud is become a more prominent. More efforts have been made from various sources to protect your identity. How much you know decide about identify fraud, how less your personal information is secured.