LifeLock

‘Financial grave robbing’ – When grief turns to anger

admin — Wed, 25 Apr 2012 16:07:51 +0000

It’s been called many things. One publication recently dubbed it, “financial grave robbing.” What is it? The theft of the identities of the deceased.

Each year, the personal information of nearly 2.5 million deceased Americans is stolen and used to obtain credit cards, take out loans, get cell phones and more. Some estimate that more than 2,000 identities are stolen each day from among those who are deceased.

A study comparing the names, dates and Social Security numbers on 100 million credit applications from January to March 2011 against the Social Security Administration’s Death Master File found that 800,000 deceased persons’ identities were used for identity theft, while 1.6 million SSNs were fabricated by identity thieves, but the numbers turned out to belong to deceased persons.

Imagine this: You’ve just lost a loved one who’s near and dear to your heart. You’re still grieving, and worrying about paying for final expenses. And then you begin to get calls from debt collectors about unpaid debts in the deceased person’s name. These debts can be claimed against the estate.

What can you do? You can obtain any records related to the fraud and submit a copy of the death certificate, to refute the claim of money owed. You can also obtain a credit report, using the death certificate and proof of your relationship to the deceased. The report will help you keep track of any unauthorized use of the information.

You may also place a “Deceased: Do Not Issue Credit” flag on the deceased person’s credit file.

Consumers want clear explanations of free trials

admin — Mon, 23 Apr 2012 16:12:23 +0000

The Consumer Federation of America recently completed a review of about 20 identity theft protection services’ websites. The subsequent report found the most frequent complaint regarding the services weren’t the offered services themselves – it was what those who complained felt were misleading trial offers.

According to the findings, customers often don’t understand they have to pay once the trial ends, or they had difficulty reaching the companies to cancel their subscriptions.

The Federation has challenged identity theft protection providers to represent themselves fully and clearly to consumers, making sure to explain their policies and features.

The study found that a year after issuing the challenge to these service providers, most were doing a “fair” job of meeting the requested standard, however there was still room for improvement. There were no complaints found online about the quality of the services researched online.

In the end, the Federation has recommended that providers give free trial subscribers a 48-hour notice that the free trial is ending, as well as provide them with the information they need to cancel it. In addition, it was recommended the providers give consumers a clear explanation as to what the service would entail, including pricing, if they continued the service.

Take shredding seriously

admin — Fri, 20 Apr 2012 16:14:07 +0000



Technology: A thief’s best friend
admin — Wed, 18 Apr 2012 15:32:12 +0000
Identity theft and technology – they go hand in hand. And one is often used to achieve the other.
With all the technology available, it’s getting much easier for identity thieves to steal the information they need to obtain jobs, credit cards, loans, utilities, cell phones and many other things, all by using the name and personal information of their victims. These thieves also sell the information they steal on the black market, making a bundle of money in the process.
But there are things you can do to help protect yourself from identity theft. 
First, keep your wallet or purse on you at all times, and if you take it out, make sure you keep your eyes on it at all times. Ladies, don’t put your purse down and walk away, don’t leave it hanging on the back of a chair, and don’t leave it on the front seat of your car. 
Don’t carry your Social Security card with you. Instead, keep it locked away and secure, and bring it out only when you have to. 
Do not give your personal or financial information out over the telephone if you didn’t initiate the contact. 
Make sure you check your credit report once a year. You are entitled to one free copy per year by federal law. You should also closely monitor your bank and credit card statements, to be sure there’s no funny business there either. 
And make sure you shred all documents that bear your personal or financial information before you discard them in the trash. Thieves are not above digging through your trash to steal your information.



Learn a lesson: File your taxes early next year
admin — Mon, 16 Apr 2012 15:17:56 +0000
It’s crunch time for taxpayers – Tax Day is upon us, and if you haven’t already, it’s time to get your taxes filed. One in five taxpayers wait until the last minute to file each year to meet the deadline.
For some, filing their taxes will hit a serious snag when they discover someone else has already beat them to the punch. Unfortunately, tax fraud is growing, with more and more people each year filing their taxes only to learn that someone else has already filed using their personal information, and the IRS sent the thieves the refunds, rather than those to whom the refunds were rightfully due. 
But tax fraud doesn’t just affect direct victims. It also slows down legitimate returns for other taxpayers as well, and it costs the federal government billions in stolen refund money. 
Tax fraud was a massive problem for the IRS last year. The IRS stopped 262,000 fake returns and saved $1.4 billion in refunds, as opposed to less than 50,000 fraudulent returns in 2010 and a loss of $247 million. 
The IRS has made changes to its filters, which have been strengthened to catch the crooks before the damage is done and the refund is released. But the IRS is not set up to authenticate tax returns or W-2 forms.
Even with changes to the IRS’ system, tax-related identity theft incidences continue to rise. Nearly 25 percent of those who filed a complaint in 2011 with the Federal Trade Commission said the theft was related to taxes or wages. 
How can you protect yourself? You can reduce your chances by not waiting until the last minute – too late for those who’ve waited until the deadline, but call it a lesson learned and noted for next year. 



Don’t fall victim to gas pump skimming
admin — Fri, 13 Apr 2012 18:20:03 +0000




Take action against identity theft today to prevent heartache tomorrow
admin — Wed, 11 Apr 2012 16:34:41 +0000
If you watch the news or read the newspaper, you’ll more than likely notice headlines regarding identity theft on a fairly regular basis. Identity thieves can be difficult to capture, because the crime is a sort of hit-and-run thing – the thief steals your information, commits his crime, then disappears. Another handicap is that law enforcement officials are often ill equipped to deal with this crime
But in 2004, President George W. Bush signed the Identity Theft Penalty Enhancement Act, which provided much more stringent penalties for convicted identity thieves. The legislation was designed specifically to hold these criminals accountable for their actions. 
It also made it possible to convict a person of aggravated identity theft, in addition to identity theft, which means a convicted criminal could receive an extra two years in prison for “knowingly transferring, possessing or using, without lawful authority” another person’s personal information. Convicted criminals could also face an extra five years in prison if they commit identity theft as part of a terrorist plot, and those convicted of aggravated identity theft cannot be considered for probation.
The penalties for identity theft vary by state, with some states still merely slapping identity thieves on the wrist with a misdemeanor charge, while other states’ judgments include hefty fines and serious jail time.
Whatever the punishment for the criminal, no one suffers more than the victim. Take steps now to protect yourself. While it is impossible to prevent identity theft, it is possible to make it harder for a thief to take advantage of you. Take action today to prevent problems tomorrow.



Don’t let the bad guys outsmart you on your smartphone
admin — Mon, 09 Apr 2012 16:51:00 +0000
As more and more people are switching over to smartphones, scam artists are figuring out more ways to fool consumers into giving up their personal information. 
Once of the ways these scammers work to steal your identity is smishing. Smishing scams are bogus texts that ask you to respond with certain personal or financial information. These texts may appear to be from your bank, a government agency or a major retail store. 
Another common scam is vishing, which is when a victim receives a live or automated voice message that is designed to scare the victim into sharing sensitive  personal information. These can be prize notifications, but they most often come disguised as fraud alerts from banks and credit unions. These messages state that the victim’s account or credit card has been frozen because of fraudulent activity, and he or she is asked to input account numbers and PINs.
Scam artists also go directly for the cash by sending victims bogus text messages offering entertainment or other services for your smartphone. In this scam, you don’t even have to respond; you will be billed either way. You can text “stop” to the number, but it won’t stop the bogus charge from being added to your bill.
If you receive a text from an unknown source, don’t respond to it. If you do, you’re letting the bad guys know the phone number is active. If you open an e-mail or text sent to you on your phone, don’t click on any embedded links, which could contain malware.
If you are unsure about the text that appears to be from your bank or credit union, stop and ask yourself if you signed up to receive text alerts from your bank. If you didn’t, it’s likely a scam. Even if you did sign up for such alerts, it’s a good idea to verify the request with your bank before you take any action. 



Get smart about your smartphone
admin — Fri, 06 Apr 2012 15:58:51 +0000




Protect yourself from credit card skimming
admin — Wed, 04 Apr 2012 14:29:23 +0000
Billions of dollars are lost through skimming each year, according to the U.S. Secret Service. This is a method in which identity thieves place place devices on credit card slots and PIN pads in order to capture your data. These devices can be placed on ATMs, gas pumps and have even been found inside stores on point of sale machines. 
So it seems these machines are all over the place – how do you protect yourself?
First of all, pay attention to the machine you are using. Tug on the card slot and feel around the PIN pad. If it feels loose, chances are there’s a skimming device present. If you find one, notify the bank or store manager.
When entering your PIN, make sure you cover the pad so that no camera anywhere can pick up what you are doing. Thieves also install tiny cameras near PIN pads to record you inputing the PIN.
To be extra careful, you may wish to re-PIN your card every so often. To do so you simply go to your bank and they swipe your card, then you input a new PIN.  You can also ask for a new card number when your card expires.
To stop theft at the gas pump, you can always pay with cash inside the store. Another way to thwart it is to use the credit option on your debit card, so that you only have to input your zip code, and not your PIN.
Overall, you are better off using a credit card, rather than a debit card. This way, if a thief is able to obtain your information, it’s the bank’s money that is at risk, and not your own.