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.
7 Data Theft Hotspots for Meeting Professionals
Everybody wants your data, especially when you are in the business of meetings. Your data doesn’t just have a high face value (e.g., the attendee data, including credit card numbers that you collect and store in your online registration system), it also has a high resale value .
Here is how the theft is most often committed in your industry:
- Competitors hire one of your employees and they leave with a thumb drive full of confidential files, including client lists, personally identifying information on talent and employees, financial performance data, etc.
- Social engineers (con artists) mine your employee’s Facebook profiles to gain a heightened level of trust which allows them to manipulate your human assets
- Cyber criminals hack your lax computer network or sniff the unprotected wireless connections you and your employees use while traveling (Starbucks, hotels, airports).
- Mobile Computing Thieves target your digital devices (Laptop, smartphone, tablet) and other weak points while on the road.
- Opportunistic Vendors (Cleaning services, painters, landlords) quietly collect data assets from your desks, filing cabinets, trash cans and dumpsters when you aren’t even in the office.
Research is screaming at us—more than 80% of businesses surveyed have already experienced at least one breach (average recovery cost according to the Ponemon Institute: $7.2 million) and have no idea of how to stop a repeat performance.
13 Data Security Tips for Meeting Professionals – SGMP
I just finished delivering a keynote speech for the Society of Government Meeting Professionals (SGMP) at their annual convention on identity theft and protecting data in the meetings industry. Data security is a top concern in this industry because it is probably one of the most highly-targeted groups for identity theft, social media fraud, data breach and social engineering. Here’s why:
- Meeting professionals collect, store and transmit massive amounts of private data on attendees
- Data theft risk skyrockets when travel is involved, which is a frequent occurrence for meeting planners and professionals
- Meeting professionals are busy nearly 24 hours a day once they are onsite for the conference or meeting, meaning that they are highly distracted
- A single data breach of attendee data can put the organization responsible for the event out of business due to excessive costs and tight compliance regulations
- Conferences are generally collections of highly professional, highly valuable attendees who travel with laptops, sensitive intellectual property, smartphones, unsecured WiFi connections, etc.
Meeting professionals have enormous responsibilities throughout every stage of the planning process. Identity thieves target conferences because of the sheer quantity and value of data circulating around these events. Protecting sensitive attendee data before, during and after the event has become not only a nicety, but a necessity. Data stolen during the planning, execution or clean-up phases of your event can hamstring your organization with financial liabilities and a public relations nightmare. Start by taking these steps:
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.
Facebook Nigerian Scam Costs Victim $300,000+
At this point, we are all pretty used to the classic Nigerian Scam. Someone who is recently wealthy needs your help to gain access to the funds. They will let you keep $1 million if you will simply send them your bank account number so he can transfer $30 million to you. Its a dream come true to most!
What happens when that same scam is used on Facebook by one of your friends, by someone you trust? The results can be disastrous. One woman was scammed out of $366,000 because she felt sorry for the scammer’s sob story. The woman contacted the local authorities after realizing she had been conned by her Facebook “friend”. Police arrested six male suspects in Kepong, all allegedly connected to the Facebook scam: two Nigerians, two Bangladeshis, and two Malaysians. Investigators only managed to recover $5,000 in cash of the victim’s money, although they also seized 18 ATM cards, seven cell phones, and a laptop.
At least in this case the men were apprehended. In most scams of this nature there is no chance of finding the scammers and the money is long gone. Even when one of your Facebook friends asks you for something (money, help, information), your first reaction should be healthy skepticism. Verify that what they are saying is true (call them before sending money). Often times, a thief will take over a friend’s account or create a false account in order to gain your trust and eventually, your money.
Sony Data Breach Grows by 25 Million – $1 Billion Price Tag
Sony just admitted this week that their Sony Online Entertainment (SOE) division, which they though was not affected by the recent breach, has also been compromised. They believe that the hackers stole personal information from an additional 25 million users and that the breach included credit card information.
In an unrelated article, Mizuho Investors Securities analyst Nobuo Kurahashi estimated the cost of Sony’s recovery from the data breaches to be approximately $1.25 billion:
Kurahashi estimates that the data breach will cost Sony about Y100 billion, or $1.25 billion from lost business, various compensation costs and new investments–assuming that no additional security problems emerge. The cyber attacks on Sony in recent weeks involved the theft of personal data that include names, passwords and addresses from accounts on its PlayStation Network and Sony Online Entertainment gaming services. Sony has also said that more than 10 million credit-card numbers may have been compromised.
The return on investment of Sony simply protecting their customer data properly in the first place would be thousand-fold. But if companies were doing more to protect themselves before the attack, what would we write about?
John Sileo’s motivational keynote speeches train organizations to play aggressive information offense before the attack, whether that is identity theft, data breach, cyber crime, social networking exposure or human fraud. Learn more at www.ThinkLikeASpy.com or call him directly on 800.258.8076.
WiFi Security Flaw in Smartphones Threatens Your Wallet
Recent information available in Britain has shown that popular hotspots can be easily mimicked by thieves, which leaves consumers vulnerable to identity theft.
Tests conducted showed that security experts were able to obtain usernames, passwords and messages from phones using WiFi in public places. The tests all used volunteers so that no actual breach occurred. In cases where the iphone 4 was targeted, the information could be taken and stored without the user even knowing.
This issue is a huge problem for the UK’s nearly 5 million BT hotspots located in train stations, coffee shops, hotels, and airports. While the smartphone service providers have knows about these WiFI security flaws for some time, they have still not done anything about it.
Using inexpensive communication equipment and free software that you can download from the internet, thieves can set up bogus hotspots to start sniffing your personal information. Once you have established a connection with one of these impersonators, whether on a phone or laptop, they can start decrypting your sensitive data.
While this is a huge issue, identity theft experts have found that a bigger problem is when these fake WiFi hotspots ask you to pay for the service and then gain access to your credit card number. Thieves state that once they have your personal logins and your credit card number, they can do almost anything, including buying gifts, purchasing gift cards for any amount, wire transferring funds to themselves, in addition to other methods for turning your privacy into profits.
Sony PlayStation Network User Information Hacked
Sony Corp. on Tuesday admitted that hackers have obtained personal data and possibly credit card information of tens of millions of people who have registered for PlayStation Network, the company’s online game and movie service, as well as its Qriocity digital music service.
PlayStation is a fun game, data breach is not.
As of March 31st, the Sony PlayStation Network has about 77 million accounts. These accounts link users to the network to obtain downloads and access online movies through services like Netflix. While Sony states that not all of the 77 million accounts are active accounts and some individuals have multiple accounts, they are not denying that a breach of information occurred.
The company spokesman, Patrick Seybold, admitted that the hackers not only gained such information as names, addresses, phone numbers, user names, birth dates, email addresses and passwords of registrants; but they are unsure if credit card information was compromised as well. Update: Sony recently announced that an additional 25 million records were breached.
“While there is no evidence at this time that credit card data was taken, we cannot rule out the possibility,” Seybold wrote. ”If you have provided your credit card data through PlayStation Network or Qriocity, out of an abundance of caution we are advising you that your credit card number (excluding security code) and expiration date may have been obtained.”
Sileo In the Media
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