Credit Freeze Stops Financial Identity Theft
Freezing your credit is the number one way to protect against financial identity theft. If everyone in the country applied for a Credit Freeze, identity thieves would quickly be out of business. At least, a major part of their business. Take 30 minutes and lower your chances of identity theft drastically (see the online Freeze links at the bottom of this post).
To go directly to placing a security freeze on your 3 bureau accounts, page down to the bottom section.
Every time you establish new credit (e.g., open up a new credit card, store account or bank account, finance a car or home loan, etc.), an entry is created in your credit file which is maintained by companies like Experian, Equifax and TransUnion (listed below). The trouble is, with your name, address and social security number, an identity thief can pretend to be you and can establish credit (i.e., spend your net worth) in your name.
Today Show Uncovers Baby Identity Theft
Identity thieves are increasingly targeting children, in some cases stealing their identities even before they are born.
A TODAY Show/NBC investigation into child identity theft revealed that criminals routinely use a child’s untouched credit record to their advantage and get away with it for years or decades. This story shows how in more and more cases Social Security numbers are being stolen even before the child has been born.
Why is it so easy? Because Social Security numbers are not assigned randomly, meaning that they can predicted with a certain amount of accuracy. A SSN is simply a code that includes the location and date of where and when a baby was born. Thieves have figured out a system to predict these numbers and used them before they have been issued. The federal government maintains that in the next month or so, these numbers will be randomized and harder to predict and therefore, steal.
Once a thief gains access to a legitimate Social Security number, they are able to take out car loans, mortgages and credit cards combining their name with the stolen number. Many banks don’t verify that the name and Social Security number match up because it costs them a few extra pennies. That is exactly how a woman was able to buy a home in my name, because the bank didn’t verify that the SSN belonged to me, not to her.
How to Opt Out of Data Miners and Online Directories
Whether you like it or not, your information is available publicly to everyone through online directories. Businesses and advertisers have the ability to easily find this information and then market their products to you. This means that you have never actually “opted-in” to receive these ads. Fortunately, there are ways for you to “opt-out” of widespread information sharing (see the list of more than 120 ways below).
The Top 4 Opt-Out Opportunities:
- www.OptOutPreScreen.com. Remove yourself from the marketing lists sold by the three major credit reporting bureaus, Equifax, Experian and TransUnion. There is not cost for this list.
- www.DMAchoice.org. This puts you on a Do Not Mail list for the Direct Marketing Association. The cost is $1, but it is well worth the instant trip down in your mail.
- White Pages. That’s right, your old-fashioned printed phone directory is the source for most of the online contact info databases. Remove your directory listing (you will likely have to the phone company every month to have your info NOT shared – I know, it’s asinine) or otherwise opt out.
- www.Spokeo.com. To opt out, read this blog post about removing your info from Spokeo. This is one of the more utilized sites by identity thieves, stalkers and scammers.
Law Enforcement Cuts Mean Identity Theft Will Continue to Rise
Identity theft prevention has become more important than ever before. All over the country, budget cuts have forced many law enforcement agencies to lay-off a large number of employees. The Oakland Police Station cut 80 officers from their force of 687 last month alone. Such severe cuts leave the department ill-equipped to respond to calls involving burglary, vandalism and especially identity theft.
Non-violent crimes have sunk to the bottom of police stations agenda. With no funds to investigate these crimes and catch the criminals, identity theft rates will continue to rise. Criminals will see this as an opportunity to prey on victims and steal identity for financial gain without any consequences.
This leaves many victims frustrated and feeling helpless. There are other places to turn and many resources to utilize if you do become a victim of identity theft. The Identity Theft Resource Center is a great place to start. You can call the victims assistance line toll-free at 1 (888) 400-5530. There is also an Identity Theft Prevention and Recovery Workbook available that can walk you through the steps you need to take to prevent and recover from identity theft.
In most cases, law enforcement agencies are not saying NO to stopping or solving identity theft or non violent crimes, just putting them on the back burner. I still highly recommend that youvisit your local police station and file a report if you have been the victim of Identity Theft.
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You love sharing bank account numbers, surfing habits and customer data with cyber thieves over unprotected wireless networks
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6 ways to Protect Elderly Relatives from Identity Theft
Senior Citizens are more vulnerable to Identity Theft because they are more trusting and less aware of the increasing variety of scams. Although most of our older relatives have no interests in the complexities of smart phones, computers, the Internet, and online banking; many that give it a try leave themselves defenseless against thieves.
The Elderly can be easily targeted online or through the mail in old fashioned schemes to steal their identity and ultimately their money. They are more likely to tell a stranger stories of their past that include simple password reminders (birth date, city, childhood pet, etc). They are less likely to suspect that an interested individual is a con-artist and not just a new friend. They can also be conned through the phone or in person by thieves impersonating a representative from a charity or a well-known company.
Although it is impossible to be fully protected from Identity Theft here are a few ways that you can keep them protected.
- Online Security. Encourage them to continue to bank in person rather than online and have the bank inform you of any purchase over a certain dollar amount. Also, install security software on any computer they use and keep it up to date. If they do click on a link including a virus their computer and information will be more protected.
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The #1 recommendation to prevent Identity Theft is Education. Know what to look for and the steps to take to fight Identity Theft. If you have been a victim, learn which steps to take and in what order to recover your Identity quickly, accurately and safely!
Identity Theft is on the rise and according to Javelin Strategy & Research there were a staggering 11.1 MILLION Identity Fraud victims in 2009 alone. The cost of this handbook is well worth the price of protecting your most valuable asset, your Identity!
This 20 page Workbook includes:
Part I – Prevention
This 10 phase process of Preventing Identity Theft Includes:
- Protecting your credit.
- Knowing what is in your wallet.
- Securing databases and physical documents.
- Being safe when mobile computing.
- Protecting Online presence.
- Travel Safely.
- Social Engineering awareness.
Part II – Recovering from Identity Theft Basics
This 17 step process to recovery your Identity includes:
- Top 15 ways to detect Identity Theft.
- Contacting banks, creditors and credit reporting agencies
- How to keep an accurate Dossier.
- Credit Freezes, Fraud alerts and credit monitoring services.
Protect Yourself Against Mail Fraud
The reality is that unsecured, curbside mailboxes are prime targets for people who are intent on committing the crime of identity theft. Although I would suggest to stop using the mail to send and receive identity documents, this is not always possible. Therefore, here are alternative suggestions:
Lock Box. Install a locking mailbox that can be accessed only by you. These generally have a mail slot that allows the postal service to put mail into the box. Many newer neighborhoods already have some form of locking mailboxes.
P.O. Box. If a locking mailbox is not possible, get a P.O. box at your local post office and have sensitive documents sent there. It is a little bit more work, but gives you much more privacy.
In Person. When mailing sensitive documents, walk them into the post office and hand them to a postal worker. If it is after hours, drop the mail through an internal slot in the building. If there is no internal mailing slot, mail it the following day. This cuts out the most vulnerable stages of mailing.
UPS/FedEx. Have identity documents sent by UPS or FedEx and make sure that you require a signature for delivery. This makes the information harder to steal and you can track its location at anytime, which will alert you if the document isn’t delivered in a timely manner or is diverted somewhere else.
Send Checks to the Bank. Have sensitive documents (like new checks or credit cards) sent to your bank rather than to your home address. Pick them up there.
Watch for Cards. When new credit cards are coming through the mail, watch for them and call the credit card company if they don’t arrive in 7 to 10 days.
Quick Retrieval. If you are unable to install a locking mailbox and don’t have access to P.O. boxes, retrieve any mail within an hour or two of delivery. This lowers the exposure time of your mail.
Sileo In the Media
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