Identity Theft Tips

Credit card fraud has been going on for decades, but just like with many other aspects of our lives, the Internet has made it a whole lot easier. Why? Because of online shopping.

Thanks to the literal explosion of online shopping opportunities, thieves can spend hundreds of thousands of dollars using stolen credit card information without ever leaving the comfort of their homes or offices.

They can get credit card numbers in several ways, including these common ones:
*Stealing a person’s purse or wallet
*Getting the information through a fraudulent phone call or email
*Buying a number from a black market website
*Simply guessing a number by using an electronic number and name generator

While it’s impossible to prevent a thief from guessing your credit card number, of course, there are some things that you can do to prevent the first three occurrences from happening.

First of all, before you do anything else, make a photocopy of both the front side and the back side of each credit card and other identification card that you own. That way, if one gets lost or stolen, or you notice fraudulent charges on them even if they weren’t stolen, you can quickly cancel the cards. You’ll have the card number and the phone number that you need to call. Of course, don’t keep these copies on your person. Instead, leave them at home or in a safe deposit box.

To prevent the second instance, don’t respond to any unsolicited requests for personal information. If you call your bank and the representative asks you for your account number, that’s fine. If the bank calls you, that’s a different story. When you’re supplying personal information over the phone or via email, always be the one who initiates the contact. You can never tell if the people contacting you are really who they say they are.

To keep your credit card numbers off of black market websites, choose an identity theft protection company that includes a service that scans these sites regularly looking for your information. While it won’t prevent your information from being posted, it can go a long way in helping you to get the affected cards canceled in a timely fashion – before anything really bad can happen to your accounts. The service may also be able to do a kind of financial audit to try to figure out how your information got on the board in the first place; in other words, where your vulnerabilities lie, so that you can plug the holes.

Lastly, you have to remember that there are other types of fraud beyond credit card fraud so you want to make sure you order and review your credit reports, check over all statements carefully and consider using a credit monitoring service for daily alerts. You can’t be too careful nowadays.

A lot of smart phone users are doing something that’s not too intelligent. They are not password protecting their phones. When they don’t, they are putting their personally identifiable information at risk. When you lose a cell phone it is always annoying – and it happens to one in five smart phone users – but if you lose it and someone a bit unscrupulous finds it, this can lead to much bigger problems including identity theft.

Instead of trying to sell the phone, which is what people seem to think happens when criminals steal or find cell phones, identity thieves will be more than happy to hang on to it. According to Get Safe Online, “It’s what is actually on your phone that counts more than the handset itself.” What’s on the phone can include phone numbers and addresses for the phone owners’ acquaintances, passwords for personal accounts and even possibly financial information. After all, a good smart phone can store as much sensitive information as can a laptop computer.

Most all smart phones on the market today have an option for the user to lock the phone, but less than half – a full 67 percent – do not take advantage of this feature. Part of the reason is that people find it to be inconvenient. If a person wishes to unlock it, it’s necessary to enter a personal identification number, usually of four digits. In reality, this only takes seconds to do, and you shouldn’t have to do it unless the phone isn’t in use for a preset amount of time.

It’s a good idea to take advantage of this option so that the phone will lock automatically if it’s left out in public and, of course, if it gets stolen. It’s worth having to deal with a temporary annoyance. When choosing that four digit number, it’s important to pick something besides a birth date or the last four digits of a Social Security number. It’s also a good idea to ensure no one is looking over your shoulder when you type in the PIN. You never know who could be a potential thief.

Since some thieves can hack into phones even when they are password protected, be careful what you do when using the phone. It’s probably not the safest to store any type of account information on the smart phone, just as it’s not to save it on a laptop.

If your phone does get lost or stolen, contact your carrier immediately to get your number canceled and see if you can get the phone locked entirely. Time is of the essence, so make sure to do it as soon as you notice the device is missing. If you discard your phone intentionally, find out how to clear the memory so that nothing gets left behind waiting to be found. It varies depending on the phone in question so please check with you manufacturer and carrier.

For a little extra help protecting yourself from identity theft please explore our site including our blog which has many identity theft prevention tips.

Today we have two random identity theft protection tips for you on pickpocketing and smishing, yes smishing.

1. Smishing
People are always coming up with clever names to give to types of identity theft. First there was phishing, then there was vishing and now there is the newest incarnation: smishing. Smishing stands for phishing via SMS, or short message service, which you probably refer to as text messaging. With this scam, potential victims get a text message that instructs them to dial a toll-free phone number to solve a mishap with their financial institution. A lot of people will follow this instruction out of legitimate worry, and some will do the same simply out of curiosity.

When they do dial the number, they will find that it’s answered by a voice response system that instructs them to type in account information. After they type in the information, the thief’s system records the keystrokes. In that way, he or she is able to steal the person’s identity.

People tend to fall for this scam because they believe that if someone knows their cell phone number they must have some sort of a relationship with them. According to Brian Krebs, writer of “Krebs on Security, “If someone has my cell number, I figure it’s someone I know.”

The true way that thieves get these phone numbers is simply by dialing random digits until they happen to come upon some that work. Because of this, it is difficult – if not impossible – to prevent getting these messages altogether. Instead, the savvy consumer should focus on what to do when they do get the SMS.

When you get a text message that is supposedly from your financial institution, verify that it actually is from the number for the institution. Instead of calling the number, look up the legitimate contact information online or in the phone book. It is highly unlikely that your bank would contact you by text instead of giving you a call or sending you a letter. When in doubt, always verify. It’s always better to be safe than sorry.

2. Avoiding pickpockets
It’s important to remember that identity theft doesn’t have to be sophisticated. What thief would take the time to run some confusing algorithm on the computer, when all he has to do is grab a pocketbook someone left behind on the train? Believe it or not, a good majority of identity theft occurs just due to the old fashioned art of pick pocketing. Time to learn how to protect yourself.

Keep It Close
Even if a thief doesn’t take your bag, he can take things out of it if you’re not paying attention. Keep it zipped or buttoned shut and hold it close to your body, especially in crowded areas. If you have your wallet in a backpack, keep it in an inside pocket. Even better, keep your wallet in one of the front pockets of your pants.

Pay Attention
One of the key elements that pickpockets rely on is distraction. They may try to divert your attention by asking for or giving directions, spilling something or speaking very loudly. It’s okay to pay attention to strangers, especially if they legitimately need help, but keep an eye and a hand on your bag at the same time.

Be Careful What You Carry
Got a passport or a Social Security card? That’s great. Leave them at home. There’s no reason to keep them in your wallet. All it does is gives thieves the opportunity to steal extra personal information. You do not want them to have either of these documents. It’s much worse than them having your credit card number.

Shop Smart
It’s not about saving money, it’s about saving your identity. When you go for a big shopping trip and your arms are laden with bags, don’t let your purse hang on your arm out of site. Instead, ask the store to hold some of your bags at the counter, and then take as many trips as you need. Or, put your purse inside one of the shopping bags so it’s not such an easy target.

Give it Away
If someone physically threatens you and demands your purse or wallet, give it up. Although they will get your credit cards and license, it’s not worth a confrontation that could cost you your life. Make photocopies or scans of the front and back of everything in your wallet so that you can easily cancel and replace them if you’re ever in that situation.