| Electronic Fraud and Identity Theft | | | | several recent scams, take a look at the following |
| ----------------------------------- | | | | Phishing |
| Human beings are pretty sensible when presented | | | | Scams page.Links |
| with an | | | | ----- |
| imminent threat or risk. That is, if it's staring us | | | | good source of information on these types of scams |
| directly in the face. Many threats and risk are | | | | can be found at the State of NY Banking |
| presented in | | | | Department.Links |
| subtle ways, and it is these subtleties we tend to | | | | ----- |
| overlook.It's The Little Things We Tend To Overlook | | | | Card Fraud |
| ------------------------------------------ | | | | ----------------- |
| Thousands of years ago, it was the subtle things that | | | | Never place your credit card face up when paying |
| caused | | | | for |
| us to take action, to error on the side of caution and | | | | something. Many people will simply place their credit |
| protection. A good example, the reports regarding | | | | card |
| animals | | | | on the table, face up, when paying for a meal, for |
| seeking refuge early on during the tsunami that | | | | instance. |
| claimed the | | | | In the time it takes for the server to pick up your |
| lives of over 300,000 people this past January. Over | | | | check, |
| time, | | | | someone walking by can visually scan your card for |
| most people have lost the ability to identify the signs, | | | | everything they need to go on an Internet shopping |
| determine the probability, validity, and impact of certain | | | | spree. |
| | | | There are thieves that specialize in this type of |
| threats and risk.Making Assumptions vs. Staying | | | | fraud.When paying for something, particularly at a |
| Vigilant | | | | restaurant, |
| --------------------------------------- | | | | check to see if the full or partial credit card number is |
| At home, my family has given me the nickname | | | | on |
| "Safety Dad". I | | | | the merchant receipt. In most cases, only the partial |
| tend to be hyper-vigilant when it comes to the safety | | | | number |
| and | | | | is visible. However, when the full number is there, I |
| protection of my family, probably to a fault. I take a | | | | cross |
| similar position on the security of my computer | | | | out all but the last four digits with a pen. The merchant |
| systems and | | | | |
| my financial well-being. On the other hand, I tend to | | | | has already scanned the card at this point, they should |
| make | | | | not |
| assumptions about things when I should not. For the | | | | need a paper backup of the number.If your credit |
| most | | | | card is stolen, lost, or used fraudulently, |
| part, I like to think that people are good natured. I | | | | you can call your card company and speak with the |
| believe the majority of people would like to think this | | | | fraud |
| way. | | | | department. However, I recommend you contact your |
| The sad fact is, this is an assumption that can impact | | | | card |
| us | | | | company's credit line department first. This is the |
| greatly, and not in a positive manner.The purpose of | | | | department that can extend your credit almost |
| this article is to share with you my thoughts | | | | instantaneously. They can also decrease it within |
| and position on some of the basic things you can do | | | | seconds |
| to | | | | as well. If you have a limit of $5,000, they can reduce |
| protect yourself from several types of threats. | | | | it |
| Particularly | | | | to $100 immediately, then pass you to the fraud |
| those that involve electronic fraud and Internet fraud. | | | | department. |
| Although some of these items are not directly related | | | | Call your card company and request the direct |
| to the | | | | number to this |
| Internet, the moment someone has your private or | | | | department and make a record of it.If you notice |
| financial | | | | someone swiping your card more than once when |
| information (identity theft), the Internet will be one of | | | | paying for an item, ask them why. Regardless of how |
| the first places they visit.(Protect Yourself Against | | | | sensible |
| Electronic Fraud)Automated Teller Machines (ATM) & | | | | the answer is, call your card company and request a |
| Skimmers | | | | list of |
| ------------------------------------------ | | | | the last few transactions, you might be surprised what |
| Have you ever heard of a "Skimmer"? If you haven't, | | | | you |
| you need | | | | find.If your card company sends you checks to use |
| to be aware the risk this presents you. Skimmer's are | | | | for cash |
| | | | advancements and you don't plan on using them, don't |
| devices that appear to be a legitimate part of an | | | | keep |
| automated | | | | them around, shred them immediately. We get these |
| teller machine but are in fact, fake card readers. They | | | | all the |
| | | | time in the mail. As far as shredders go, everyone |
| capture all the information stored on the magnetic | | | | should |
| stripe on | | | | have one. You can pick up a small one for under $30 |
| the back of the card. Skimmer's have been around | | | | and it |
| for quite | | | | is well worth the investment.Any statements or |
| some time but their use is on the rise again. The | | | | correspondence you have regarding your |
| following | | | | credit cards should be in a secure place or |
| link will show you what a skimmer may look like and | | | | shredded.Credit Reporting & Monitoring |
| how it | | | | ----------------------------- |
| is used.Links | | | | Thoroughly review your credit report at least every |
| ----- | | | | 90 days, |
| you know the cost to a bank or ATM vendor is | | | | more frequently if possible. It's better to find out |
| minimal if | | | | sooner |
| their machine is compromised, but to you it may be | | | | than later if someone else's actions are negatively |
| severe? | | | | impacting your credit report, trust me. There are three |
| The company that owns the ATM only has to worry | | | | |
| about the | | | | major credit reporting agencies, Equifax, Experian, and |
| cost to replace the machine, plus the amount of | | | | |
| money | | | | TransUnion. They all have reporting and monitoring |
| inside. You, on the other hand, stand to loose not only | | | | solutions |
| your | | | | available. Some of these services may be free of |
| bank account funds, but possibly your identity.Phishing | | | | charge.Links |
| and Web Site Redirection | | | | ----- |
| --------------------------------- | | | | |
| This type of electronic fraud comes in many forms, | | | | |
| and is | | | | you find something strange on your credit report, |
| one of the most popular ways of collecting private | | | | contact |
| information, and money from the masses. Why? | | | | the credit reporting agency immediately. In addition to |
| Because it is | | | | calling them (if possible), send them a certified letter |
| simple to do and very effective.If you receive an | | | | describing what you have found. It's very important to |
| e-mail from your bank, credit card | | | | document any and all correspondence on these |
| company, or other online merchant like, or | | | | matters.Conclusion |
| Amazon.com, requesting information such as | | | | ---------- |
| passwords and | | | | I am sure this information may be old news to some. |
| financial info, delete it and report it immediately. Many | | | | However, if just one person reads this article and |
| of | | | | learns |
| these e-mails link you to web sites that look exactly | | | | something new, then my objective has been met.One |
| like | | | | of the best ways to protect yourself from electronic |
| that of the real company but are in fact fakes. Take | | | | fraud and identity theft is to ask questions. Primarily, |
| a look | | | | ask |
| at Ebay's Online Security and Protection section to | | | | yourself whether or not the particular situation you are |
| get an | | | | |
| idea of what you need to do in order to identify | | | | faced with makes sense? Why would your bank |
| scams like | | | | request |
| these.Links | | | | information from you via e-mail? Why would |
| ----- | | | | someone in |
| you receive an e-mail from someone promising you | | | | another country be willing to give you millions of dollars |
| millions | | | | |
| of dollars if you assist them with their finances, delete | | | | to assist them with their banking woes?There is a |
| it | | | | certain percentage of our population who has |
| immediately!. Some of these scams have been | | | | absolutely no morality when it comes to the acquisition |
| running for | | | | of |
| years and new ones surface frequently. I recently | | | | wealth. These people know the risk of getting caught |
| saw one | | | | is |
| supposedly from the wife of the late Yasser Arafat, | | | | minimal. In many cases, even if they do get caught, |
| promising millions of dollars if someone would help her | | | | they are |
| establish a trust fund in the US. The reasons these | | | | willing to deal with the consequences given the |
| types of | | | | potential |
| e-mail scams are so wide spread is because they | | | | monetary payoff. Stay vigilant and educate yourself |
| are highly | | | | on these |
| effective and relatively easy to do. Thousands of | | | | matters. It really is the best way to protect yourself |
| people get | | | | against the myriad of threats and risks we are |
| ripped off by these scams every day. To see | | | | presented |
| examples of | | | | with everyday. |