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Posts Tagged ‘credit card fraud’

Identity theft is a definite threat to us all, effecting hundreds of people everyday across the globe. There are insurance policies that can be taken out in order to cover yourself against ID theft, but this may not be necessary, as there are a number of measures you can take to help you to avoid becoming a victim, most of which rely on simple common sense.

ID theft is a technique used by criminals allowing them to benefit financially through claiming they are you, for example taking out loans, applying for credit cards etc. all in your name.

One of the problems when attempting to tackle this type of fraud is that the are limited by resources, particularly when these criminals are working outside of the UK.

Doing all you can to avoid becoming a victim of ID theft is easier than you may think and being aware of the following points could save you a lot of grief.

1. Be sure to keep all important documents and financial related documents such as passports and bank statements in a safe place out of sight. These include official documents such as passports and driving licence documents, as well as financial documents such as bank and credit card statements, bank account details, insurance documents etc.
2. Frequently monitor your bank accounts and credit card statements to ensure there are no suspicious transactions. If you have access to the internet, set up online banking wherever possible, as this allows you to keep a close eye on up-to-date statements without having to wait for your monthly paper version. Online banking is also very secure, with many banks now providing customers with card readers which generate pass codes that must be used when logging in to your account, or making a payment. If you do notice anything that looks suspicious, contact your bank or credit card provider immediately.
3. Purchase a paper shredder. You can pick one up from £5 to £30 and you can use it to shred any official documents that you don’t need to keep. This includes bank statements, loan or credit card application forms and even junk mail containing any of your details i.e. name, address, telephone number etc. Simply throwing these documents away could result in them falling into the wrong hands.
4. Make sure you are aware of when your regular financial documents arrive, ensuring you are aware of anything out of the ordinary, for example you haven't received your credit card bill for 7 weeks.
5. Each year, get a copy of your credit file to make sure no unauthorized finance arrangements have been set up without your knowledge in your name.
6. You should never give out sensitive information over the phone unless you made the call or you are 100% sure the call is legitimate. For example, you receive a phone call from somebody claiming to be your credit card provider and they request personal information such as your full name, DOB and Mother's maiden name. These are types of information that fraudsters will want to get hold of, so be vigilant.
7. Never trust emails claiming to be your bank or Credit Card company. Some of these emails can look extremely convincing and the irony is that many of them claim to require your details to help tackle fraud. You can usually spot these emails as the URL that you are required to click may appear to be the official site, but on closer inspection you will see it is in fact close, by hovering your cursor over this link. You will then be re-directed to a spoof page that looks genuine but is actually used to steal your login details
8. When moving house, subscribe The Royal Mail’s redirection service. This will ensure that any mail intended for you is delivered to your new address.
9. Always check your bills as soon as they arrive in the post. If you find anything that looks suspicious, always contact your service provider immediately.

There are a few main techniques employed by criminals to carry out ID theft. These include:

Bin Diving

Going through your bins searching for bills or other documents containing your personal information.

Skimming

Used to steal credit/debit card numbers using a special storage device. The riak can be reduced by keeping your card on your person or in view when using it to make payments.

Phishing

Claiming to be a legitimate financial institution to gain your trust then push you to reveal your personal information.

Changing Your Address

Diverting your bills, statements and other sensitive documents to another address by filling out a change of address form.

Old-Fashioned Stealing

Stealing wallets; mail etc. to get enough information about you.

Pretexting

Used to obtain personal information from a number of sources such as financial institutions, telephone companies, and other sources by impersonating you

When these types of criminals get their hands on your personal information, they can use them for a number of different things.

Credit card fraud:

• A new credit card can be applied for in your name. The card can then be used to get credit and all unpaid bills will appear on your credit report, damaging your credit history.
• After changing your address, they could charge purchases to your account, leaving you unaware as the bills are no longer being delivered. It could be some time before you notice anything unusual.

Phone or utilities fraud:

• A new phone or wireless account could be opened in your name, or even utility services like electricity, water, or satellite television.

Bank fraud:

• Counterfeit checks made with your details.
• Bank accounts opened in your name.
• Credit or debit card cloned giving them access to your accounts.
• A loan taken out in your name.

Government documents fraud:

• Used to get official ID cards such as a driving licence under your name but with their picture.
• Use of your details to get government benefits.
• Fraudulent tax return made using your information.

Other fraud:

• Qualify for a job using your personal information
• Rent a property in your name.

These days, most banks have intelligent anti-fraud systems that recognise any unusual activity on your card, for example you withdraw money from a cash point in the UK and later that day money is withdrawn from an ATM  in Canada. 

When taking out a credit card, you will probably find that you are offered some kind of anti-theft insurance to protect you against fraud. But the fact is that ID theft is heavily promoted and sometimes over exaggerated to help sell the product.

A spokesman from the UK's fraud Prevention Service - the CIFAS, has ID theft is still a relatively rare crime, but it is on the increase.

So as long as you’re cautious with who you give your personal information to, keeping it in a safe place, shred all unwanted documents containing your information, you should remain safe from fraud.

While there are some things that are completely out of your control, you are able to prevent identity theft most times. This is because most of the identity theft cases happen as a result of a person not paying attention to their personal and private information. Simple mistakes on the Internet are one of the biggest reasons for identity theft and it is something that can be prevented with a little education. The key to prevent identity theft is to learn about what you should and should not be doing on the Internet. Also, it would not hurt to learn about an id theft protection plan or company in case that is something that would be a use to you.

To prevent identity theft, you need to be aware that the Internet can be extremely dangerous for conduction business. Not only could someone be tapping into your computer from their home while you surf a safe site, but there are fake sites set up just to steal your information. You should never use your bankcard information to purchase something online as that would not be a way to prevent identity theft. By doing such things, you are basically handing out your information for everyone to see and use at their discretion.

More Things To Look Into

There is nothing wrong with being over protecting when it comes to your identity because one slip up could cause you a lot of pain for several years. There have been cases where people have lost access to their social security checks because someone else was claiming them in their name. In order to prevent identity theft like that, it is important to keep your card in a safe place and never share that information with anybody. Never release your social security information to people over the phone because you never know who they are.

When you want to prevent identity theft it is important to remember that even though you are dealing with a company you trust, the person on the phone is simply an hourly employee that you should never trust. To prevent identity theft you generally have to assume that no one is trustworthy enough to have your personal information. While this may seem harsh to some people, it is the only way to assure that your personal and private information is kept secret and protected from everyone that wishes to cause you harm financially.

Go here for more about Identity Theft Facts and Avoid Identity Theft

With the way the world is, it is completely up to you to make sure that you have some sort of id theft protection plan in place. Whether this is something you are going to do and monitor yourself or you plan on hiring an identity theft resource center to do it for you, it is something that must be done. Id theft protection starts with you taking the first step to make sure thieves are not accessing your personal and private information and using it to better their lives.

When you are considering id theft protection, it is important to think about all the different ways that someone could be stealing your credit and identity from you. This is important so that you do not miss anything and no stone is left unturned. Believe it when it is said that if you forget one area, that is the area that the thief will find in order to steal your identity. The best thing to do for id theft protection to be done right is to talk with professionals about your financial and personal safety. They will probably be able to suggest things that you never thought of so that you can cover all bases.

More Reasons To Go With Professionals

When it comes down to it, your life may be extremely busy in that you will barely be able to find time to manage your own id theft protection plan of action. This is why hiring a service or company for your id theft protection is ideal since you will not be out anything but a small fee every month. And when it comes to your identity, there is no fee that is too great to make sure that you are completely protected. Make sure though that you research a company before going with them as you will be sharing with them a lot of your personal information. 

Once you find a company that you can trust to take care of your id theft protection, you will be one step ahead of the criminals. If something does happen, the id theft protection company will notice it right away and will be able to bring it to your attention. This is a lot faster then waiting until you apply for your next car loan to find out that your credit is shot because you did not have an id theft protection plan in place. Do the smart thing and get started at protecting your financial and personal future by starting an id theft protection plan of action.

Go here for more about Identity Theft Facts and Avoid Identity Theft

There are many ways that credit card identity theft can be conducted. It can be through the obtaining of your personal information and then making a purchase with your credit card, obtain tax returns illegally or making claims.

The problem is most people would rather bury their heads in the sand when it comes to credit card identity theft. Your credit card contains a great deal of personal information and once you become victim of credit card identity theft or online identity fraud then you never really stop. The consequences are that you will be billed and you can even be fined or spend a prison sentence, unless you can prove otherwise, which can be quite difficult.

The point in solving the problem is that people need to be more cautious about the use of their credit cards in store and online. Do not assume that everything is safe. Most credit card identity theft seems to occur in gas stations and that is the worrying trend, as these are places that people often use on a daily basis. However because of this they also make an easy target for people who either want to make a quick buck or just want to fund some criminal activity.

Credit Card Identity Theft Is Not Only Rife In The Virtual Domain

It is clear then that credit card identity theft does not only happen in the online market. What this has lead to is people preferring to have cash more than having to risk using their credit cards. The credit card identity theft and identity theft in general is one of the fastest growing crimes in the world.

With globalization comes this and you should always be prepared to protect yourself. The worst thing about credit card identity theft is that you will not know about it until it is too late and by then you have to prove that you are who you say you are. It is the expansion of in use of the stole identity that is worrying authorities.

People can now forge some advanced documents that will make them claim to be someone that they are not. They can then explore many different avenues in which to exploit the system. Never underestimate a determined and desperate mind as it might come up with some genius but criminal way of making money.

Always invest in software and machines like a shredder that will make it easier for you to dispose of letter or items that contain your personal information. And always double check sources to ensure that they are who they say they are.

Go here for more about Identity Theft Facts and Avoid Identity Theft

Online identity fraud is becoming an increasing problem. With the virtual world practically very small it is clear to see why so many people fall victim. The world’s criminal identity theft government agents are trying to curb the onslaught on society but like so many cases it is easy to see how it could’ve been avoided. Never assume that you are immune to online identity fraud.

Online identity fraud takes a certain amount of knowledge but it can be easily executed. There are so many unsolicited emails that people get everyday and they are not cautious about opening them. Often when you are required to put in your personal information in a website you should always want to ensure that it is legitimate.

This means that they have adequate systems in place that will ensure your credit card is safe. If you are still worried then you should be able to contact the website, preferably by phone so as to reassure your fears.

However most people fail to do this and they will easily and quickly put their credit card and personal details without second thought. They then wonder why they are suddenly part of the online identity fraud statistics.

Online Identity Fraud Is About Knowing Your Purchase.

If you have not request a certain item even though it might seems extremely tempting then you should always delete that email. Be very frugal when it comes to who and where you distribute your personal information.

Stupidity is no longer a reason for falling victim of online identity fraud as much information on protecting yourself is available. The more you know and act on the knowledge the easier it will be for you not to end up part of the victim list of online identity fraud.

These are your finances that are at stake and you should always put those first. Do not always make assumptions and try to have facts that back you up.

Most legitimate website provide you with a customer number that you can call if you feel uncomfortable with the security. Your personal information is there to make your life easier but if it can be easily accessed then there is no but yourself to blame. The more precautions you take the more enjoyment you can get out of your credit card.

By keeping regular checks of your credit cards and bankcards you can make it harder for criminals to get away with stealing your money. Online identity fraud protection is about being buyer savvy and criminally aware that the world might not be as a nice place as you thought.

Go here for more about Identity Theft Facts and Avoid Identity Theft

There is no doubt about it, stealing someone’s identity is a crime and one that needs to have punishment given out for. But criminal identity theft is often done for so many different reasons. While it may not matter why they did it when it comes to breaking the law, why a person may chose to go the criminal identity theft route may help you prevent it from happening to you. A good thing to start doing, even if you have never had problems in the past, is to check identity theft on your credit report on a regular basis.

By being proactive, you will make sure that any criminal identity theft that happens to you gets stopped right away. As for things to watch out for, you are going to need to remember that the holidays are a time of year were criminals get desperate. Even though they are trying to give their family a nice holiday, it is not their place to take what is yours. So just be extra cautious around the holiday reason and keep an extra close eye on your wallet or purse. While criminal identity theft can happen any time of year, the holidays are always more active for crimes like that.

Getting Help Being Proactive

If you truly want to be ahead of the game you should go ahead and check into services or companies that offer to help watch for criminal identity theft on your behalf. These companies monitor your credit report and such and will alert you at the first warning sign of criminal identity theft. At that time, you will be able to determine if there is truly something going on and then you can contact the proper authorities. Having their help could actually save you a lot of time and frustration in the long run, not to mention a lot of money.

So whether you want to watch your credit on your own or you want he help of professionals to watch out for you, criminal identity theft can be watched for and controlled if you know what to do. This way, you never have to face the embarrassment of being denied credit for problems you have nothing at all to do with. Making sure that you are on top of criminal identity theft is the only way to be since millions of people every year get their identity stolen right behind their backs without a trace of the bad guy left behind.

Go here for more about Identity Theft Facts and Avoid Identity Theft