Tag Archives: ID Theft Protection

5 Steps to Protect Yourself from Identity Theft

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According to a survey done by Bankrate.com, 41 million Americans have been victims of identity theft. Most Americans aren’t taking the necessary steps to protect themselves until it’s too late. For those unfortunate enough to have had firsthand experience, it’s a scary experience that can take years to fix. And in the process, your finances can get destroyed. Before this happens to you, it’s important to take the steps to safeguard yourself from identity theft. Here’s what you should do:

Closely Monitor Your Bank Statements

Most people hardly ever check their credit card or bank statements. If your account information is compromised, you might not even know about it until it’s too late. Be proactive – it’s best to check your statement monthly. You should also make it a habit to log into your accounts at least once a week to review the transactions and see if anything looks off. The earlier you catch any unauthorized transactions, the easier it will be for you to dispute the discrepancies with your financial institution.

Check Your Credit Report Yearly

You are legally entitled to a free credit report every year from each of the three major credit bureaus, TransUnion, Experian, and Equifax. Take advantage of this. Your credit report can change often so it’s important you know what’s going on, especially if you plan on making a large purchase or taking out a significant loan in the near future. AnnualCreditReport.com is a good place to get started. There are many other websites that offer free credit reports, but they may charge you fees after a period of time so be sure to always read the fine print.

Strengthen Your Passwords

We share so much on the internet. Most of us are on at least one social network, if not more. We also depend on the internet to do much of our shopping and banking. While it’s a great convenience, it’s also dangerous as well. Many hackers prey on unsuspecting internet users and shoppers. Before you post something on a social profile, be careful what you share – especially if it contains any personal information. Also, use strong passwords containing a mix of capital and lowercase letters, numbers and symbols. You should also periodically change your passwords as well, especially for sensitive accounts such as your email and bank account.

Secure Sensitive Documents

Paper trails can be just as dangerous as digital ones. Keep your sensitive documents in a safe place in your home, ideally in a locked cabinet or safe. If you need to get rid of any documents with sensitive information on it, be sure to shred them beforehand to prevent them from getting into the wrong hands.

Don’t Give Out Personal Information

If something sounds fishy or phishy, it probably is. Don’t fall victim to a phishing scam. If you receive any requests for personal information such as your social security number, don’t give it out – even if it comes from a company you recognize. Scammers disguise themselves as something or someone else all the time. Call the company and speak to a representative first before you give out any information.

The most important thing to remember is to be proactive and vigilant. Identity theft is a real concern but with the right steps, you can prevent it from happening to you.

Article Source: Connie Mei for moneyning.com

How to Protect Your Mobile Phone from Scammers

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Keep your cell phone number to yourself. “The new Social Security number … is your cell number,” said Thomas Martin, president of Martin Investigative Services and author of “Seeing Life Through Private Eyes.” Your smartphone “is a gateway to your living room to your bedroom, to your life.”

Beware of text messages. Scammers may send text messages that look as if they come from a legitimate source, like a bank, a practice known as smishing. It could be an offer for a coupon, a free gift card, or a text that says you won a prize.

The link could direct you to a website where you’ll be tricked to share your personal information or one that can install malware on your phone. A hacker can try to encourage you to download an application that can compromise your phone. Don’t click on a text!

Make sure you update your phone’s operating system. It will make it harder for a hacker to exploit your smartphone’s software. “Attackers just need to find one way in,” said Janne Lindqvist, an assistant professor of electrical and computer engineering at Rutgers University in New Brunswick. “It could be malicious apps that are exploiting a vulnerability that hasn’t been patched yet.”

Once opened, a hacker could read text messages and emails, have access to passwords or take over your mobile phone.

Protect your smartphone with a passcode. (And don’t make it something unsecure, like 1234.) “You should make sure if someone steals your phone, they can’t unlock it right away,” Lindqvist said.

Activate your smartphone’s tracker, such as Find My Phone, and the ability to wipe your phone remotely. If someone takes it, you’ll have a way to track it down or delete your data.

Control your risk. Try not to share a mobile phone number. Lindqvist only uses his cell phone to make calls or send texts. ”

Article Source: David P. Willis for the Asbury Park Press, http://www.app.com/story/money/business/consumer/press-on-your-side/2017/07/21/heres-how-protect-your-mobile-phone/489922001/

5 Things You Should Never Keep in Your Wallet

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walletMore than 40% of identity fraud cases stem from a lost or stolen wallet or purse, according to insurance company Travelers’ claim data. If you’re carrying around these things in your wallet, you’re likely putting your identity and finances at risk.

1. Social Security Card

The #1 thing you should never carry in your wallet is your Social Security card.

“Your Social Security Number is the most vital piece of information for identity thieves, and the damage resulting from identity theft can impact your finances for years to come,” said Michael Bruemmer, vice president of consumer protection at credit reporting company, Experian.

If someone gets your number, he or she can use it to apply for credit in your name, file a tax return and claim a refund, or get a job and earn income that’s reported to the IRS — which will create problems for you at tax time, according to the Social Security Administration. For these reasons, losing a Social Security card can be devastating. While you can get a new Social Security Number, you must have evidence that someone is using your current one. However, some government agencies and businesses might still associate you with the old number — even after you make the switch.

2. Birth Certificate or Passport

When you go out, it’s best to leave your birth certificate and passport at home.

“Like your Social Security Number, these items contain some vital, personally identifiable information, and losing these will make it all too easy for thieves to steal your identity,” Bruemmer said.

Unfortunately, more than half of travelers surveyed by Experian said they carry their passports in their wallets. If you’re traveling overseas, opt to leave your passport locked in the hotel safe rather than keeping it with you while you’re out on the town.

3. Extra Credit Cards

A survey by Experian’s ProtectMyID identity service found that 47% of consumers don’t remove unnecessary credit cards from their wallets before traveling. Carrying numerous cards doesn’t just put you at risk on vacation, though. It’s also a dangerous habit.

“If your wallet is stolen and you have eight credit cards in it, that means you will have to cancel eight credit cards, dispute with eight different card companies if fraud does occur, as well as reset any autopay you had for those eight cards,” Bruemmer said. “The more cards you carry, the more opportunities you are giving a thief to steal your money or information, and the more work you are putting on yourself to reestablish accounts after a theft.”

It is recommended that you only carry your main credit card and perhaps a backup one. Only carry retailer cards in your wallet when you are headed to those specific stores. And make sure you have a record of your credit card account numbers and contact information for each card issuer stored at home, in case a card is stolen.

4. PINs and Passwords

Some people write down their debit card PIN and passwords for accounts in case they forget them and carry them in their wallets. However, this information should always be left at home in a secure place.

“If someone has access to your bank PIN or financial account passwords, they can easily steal money from your accounts or make purchases under your name,” Bruemmer said.

5. Checks

If you prefer writing checks to using a debit card, avoid carrying your entire checkbook around with you. Otherwise, thieves have easy access to your money in the event that your purse or wallet is stolen.

Checking account fraud can be especially difficult to resolve, according to the Identity Theft Resource Center. You should report your stolen checkbook to the police and keep a copy of the report to submit to any merchants or financial institutions at which your stolen checks were used.

Unfortunately, putting a stop payment on the checks that were stolen probably won’t be enough to fix the problem. According to the Identity Theft Resource Center, you’ll likely need to close your account to prevent further damage.

6 Things You Can Do to Ward Off ID Theft

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magnifier_finger1. Be vigilant with your online information.

Only log into your online banking and financial institution sites from home or a secured location. This may seem simple, but it can be easy to forget.

2. Don’t use a debit card for online purchases.

A debit card is directly connected to your checking or savings account, so if there is fraud, your account can be drained — ouch!

A credit card is just that, credit. If there are purchases you don’t recognize, you can dispute them without your funds having already been withdrawn from your account. Consider having one credit card specifically for that purpose.

3. Monitor your accounts monthly.

When you go “paperless,” it can be easier to neglect checking your statements.  Be sure to review your bank accounts and credit card statements regularly to make sure they are correct and to watch for unauthorized purchases.

4. Simplify your financial information.

When you have multiple accounts and can fan out your credit cards like a deck of playing cards, it’s a challenge to stay on top of things. Consider paring down your accounts in order to better stay on top of them.

Also consider using an aggregation service, such as Mint.com, so all of your accounts and daily transactions are viewable with one single sign-in. This can help you easily stay on top of your account activity.

5. Check your credit information regularly and take advantage of free (or low-cost) credit monitoring services.

One problem with identity theft is that you may not know what you don’t know. If someone opens an account in your name and changes your address, you are left in the dark.

6. If you see something, report it right away.

If you suspect that your identity has been compromised, you can place a fraud alert on your credit file by calling any one of the three major credit reporting agencies shown below. A fraud alert is a notation on your credit file to warn credit issuers that there may be a problem. The credit issuer is asked to contact you at the telephone number that you supply to validate that you are the person applying for the credit.

TransUnion: 1.800.916.8800

Experian: 1.888.397.3742

Equifax: 1.888.378.4329

In accordance with the Fair Credit Reporting Act, it is permissible for consumers to request a free copy of their credit report once every 12 months from each of the three major credit reporting agencies (TransUnion, Experian and Equifax).

To order a free credit report: www.annualcreditreport.com 

Article Source: Nancy Anderson for Forbes.com, http://www.forbes.com/sites/nancyanderson/2015/06/13/7-things-you-can-do-to-ward-off-identity-theft/

 

8 Ways to Protect Your Identity While Shopping Online

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Concept of mobile shoppingAs we move into the most frenzied shopping season of the year, scam artists will be on the prowl for vulnerable shoppers. To avoid becoming a victim, consider taking steps now to keep your financial accounts and personal information safe.

1. Skip attachments and hyperlinks. Even attachments from people you know can be nefarious, since those acquaintances could be infected with a computer virus. If the email contains unusual or scant wording, don’t open the attachment. The same logic applies to hyperlinks in emails (or requests for information received over text message). First hover over the link to make sure it’s going to direct you to a valid address.

2. Don’t make purchases over coffee shop lattes. Any public Wi-Fi connection, such as those offered at coffee shops or libraries, carry extra risks, since they aren’t private. Try to avoid shopping online or engaging in any financial transactions, like logging into your bank account, from such hot spots.

3. Protect your smartphone. Web browsers and retailer apps on mobile devices make it easy to shop on the go, but doing so can also expose shoppers to extra risks since many phones don’t have the same kind of data encryption that’s often installed on computers. Even taking a relatively simple step, like enabling the password lock feature on your phone, will make it harder for a thief to access private data stored on the phone in case it’s lost or stolen. The computer security company McAfee also warns against downloading apps that might steal personal information.

4. Don’t trust your “friends.” Hackers target social media, including Facebook and Twitter, because they know it’s easier to get people to click on a link that appears to be recommended from a friend. McAfee has identified dozens of examples, including free dinner offers at Cheesecake Factory and fake mystery shopper invitations. Offers that sound too good to be true, such as free iPads or free iPhones, are also a common lure. The company cautions against clicking on fake alerts from friends, who may have been hacked themselves, and avoiding shortened links on Twitter that claim to offer deals.

5. Open e-cards with caution. They can be cute, but they can also be malicious. McAfee warns that some e-cards download viruses onto your computer when you download them. To avoid that outcome, the company suggests only opening e-cards from domain names that you recognize.

6. Upgrade your passwords. The holiday season can serve as a good reminder to give your passwords a makeover; security experts recommend changing them regularly as a precaution against hackers. Avoid common and simple words, use long combinations of words that also incorporate numbers or symbols, and never use duplicate passwords for multiple accounts. Sites that offer two-step authentication, such as Twitter and Gmail, can also add another layer of protection.

7. Check up on an e-retailer before making purchases. Some fly-by-night operations take advantage of the uptick in shopping around the holiday season to collect cash without ever mailing out the goods in return, warns the Better Business Bureau. The same applies to in-person exchanges on Craigslist or other online sites. To protect yourself, the bureau recommends never wiring money or paying in advance, and bringing a friend to any in-person exchanges.

8. Review your statements. The first sign of identity theft is often an unfamiliar charge on a credit card or bank statement; reviewing those statements carefully and contacting your financial institution or card provider with any concerns can prevent a theft from expanding. Credit cards usually come with some measure of automatic protection, as long as you report the scam relatively quickly.

Following these tips might leave you feeling overly cynical about the world, but the real downer would be dealing with a stolen identity just as the holiday season is heating up.

Article Source: Kimberly Palmer for US News – Money, Http://money.usnews.com/money/personal-finance/articles/2014/09/16/8-ways-to-protect-your-identity-while-online-shopping

 

Steps to Protect Against Credit Card Fraud

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Secure purchasesIn light of recent retailer data breaches and with credit and debit card fraud becoming more frequent, be sure to read and follow these 8 steps to protect yourself and your identity from being stolen.

1. Be sure to get a new replacement credit or debit card if yours was compromised. If you suspect fraudulent transactions on your card and your financial institution hasn’t contacted you or provided you with a replacement card – be sure to call and request one.

2. Check your bank account and credit card activity online to see whether your card was used at any retailer that was recently hacked. Don’t wait for your print statement to come in the mail; check the latest account activity digitally with online access to your account information or by using a mobile banking app. Also watch out for changes to your debit card PIN.

3. Be alert for post-breach phishing attempts. Hackers don’t always get everything they need to break into your accounts, so they will typically send you emails or even call on the phone and pose as your bank or card issuer to try to trick you into giving up the missing pieces, including mother’s maiden name, account username and password, date of birth, and Social Security Number. Do not give this information out – your bank will never call, text, or email you for the information you already provided when you opened your account.

4. Lock down your credit report with a security freeze, which essentially shuts off access to your credit history by new would-be lenders. If a hacker applies for a loan in your name, the creditor is less likely to approve it if he or she can’t see your credit file. Freezes are typically free for victims of identity theft.

5. Get as many free credit reports as you can per year so you can regularly monitor them and keep an eye out for fraudulent new accounts. You can get three free credit reports (one from each credit bureau) from annualcreditreport.com.

You’re also entitled to a free credit report from each bureau after you file a 90-day fraud alert, which you should do every 90 days if you’ve been a victim of a data breach, or have a good-faith suspicion that you’re about to become a victim of identity fraud.

6. Change your passwords regularly on your various financial accounts and use strong passwords to thwart hackers and protect yourself online.

7. Don’t panic, but take a breach threat seriously, because this problem is now a fact of life until the big payment card brands, banks, and retailers improve the security of payment processing systems in the U.S.