Posts tagged ‘Against’

Keep Your Safeguard Against Bank Identity Theft Solid

The internet has revolutionized the world and the way we do business. Even with all the great things which the internet offers us it is not perfect. There are dangers involved with using the world wide web and one of the most prevalent is bank identity theft. No one is safe from it and that is why you most make an active effort to protect yourself and your loved ones from this world wide problem.

This is a problem that affects everyone globally but just in the United States identity thieves steal more than $ 52 billion a year. These criminals are not just stealing from the rich and powerful but are stealing from everyday people who have been less than careful with their sensitive information. No one is safe from this digital crime spree.

One of the most traditional ways to protect your identity is to shred all the documents which may be used to identify you. This includes credit car statements, bank deposit receipts and other sensitive documents which you would not want falling into the wrong hands. This safeguard alone can go a long ways in protecting your assests.

When you shop online, use only web sites which are safe and secure. You will be able to tell if a web site is secure because a little lock will appear in your URL bar or in one of the corners of the screen. Give yourself the peace of mind which comes with knowing you are doing business online safely.

Always make sure that your anti-virus and and anti-spyware are up to date and are working properly. Computer viruses can creep into your computer and access your personal information. These horrid and unfortunate things can scan your entire computer and then post all of the information found within on the internet.

Another effective thing to do is to talk to your financial institution or credit union about what protection options are available as a service to you. Most of these institutions are actively fighting against bank identity theft. If you are vigilant in keeping yourself protected and if you follow these steps and many more like them, you will minimize your risk of identity theft.

Find More Identity Theft Prevention Articles

China and Russia Build Massive Database from Hacks to Use Against America

China and Russia Build Massive Database from Hacks to Use Against America
The financial damage from the OPM hack is considerable, and could lead to further compromises for American intelligence and military efforts. Paying for credit monitoring and identity theft protection for 22 million people is going to cost a lot of money.
Read more on Breitbart News

Visionworks to pay 0K to Maryland for losing servers with customers
There wasn't any evidence that the information was compromised, but Visionworks notified customers that were affected and offered a year of free credit monitoring. "Devices that contain personal information must be properly secured and discarded.
Read more on Legal News Line

Citi is rebuilding its long-neglected equities franchise
Mid-sized firms are especially attractive, because they lack the resources of their bigger rivals and Citi can offer them services such as risk systems, credit monitoring, and trading algorithms, which have all been part of Citi's technology revamp …
Read more on Business Insider

IT Security Stories to Watch: Ashley Madison's CEO Steps Down
Customer credit card numbers, names and addresses were compromised during the data breach, according to LowCards.com. However, Web.com has notified those who may have been affected and is offering them one free year of credit monitoring services.
Read more on MSPmentor

Efficient protection against identity theft and fraud

Many times people tend to leave most of their documents with important and vital information lying here and there and this might just lead to situations where some of these documents might be misplaced and can be found out by some fraudsters who eventually might be successful in using the vital information for their own benefit. All these documents should be handled with utmost importance and thus there is a desperate need to get into the task of efficient Protect against identity theft and fraud.

Some people do not realise that all documents whether old or new are very vital as most of these contain personal or even business information that one might not want others to know. There are bank statements, old credit cards, debit cards, certain mails which are sent by business associates or even certain personal letters which might have details about some vital personal matter and many such paper documents or even online Emails which are extremely vital even though these might appear to be just mails received either by post or online.

Despite the fact that there are more and more people falling prey to more and more fraudsters on a daily basis yet there seems to be no dearth of people who are careless enough to let all their documents lying unattended to for days, months and sometimes for years.

However, such people should fast wake up to the fact that it is people like these that fall into the hands of fraudsters and become victims of identity theft or identity fraud. In order to save oneself from such crisis it is of prime importance to get into proper Protect against identity theft and fraud by going in for regular shredding and destruction of unnecessary documents. However, it is also important to bring about a thorough task of Data Protection which is to say that all important documents like birth and death certificates, educational certificates, certificates won through various participation at important events; certificates of ownership rights; property inheritance proof documents and many other important documents need to be protected with care and proper storage. Such documents need to be protected and this in other words would mean proper and timely Data Protection.

One important point to remember while going into Data Protection is to make sure that there is no accumulation of unnecessary documents like old credit and debit cards, bank statements that have no more relevance, documents that have business details like payrolls, profits in previous years, loss in previous years, capital investment and the total margin that is made on the overall transactions and any such document that might have vital information but are not required anymore and such other documents. All these unnecessary documents should be immediately shredded.Thus, Data Protection will have only the very important documents preserved with care so that there is less confusion and clutter at home and in the office.
 

A simple solution to protect against identity theft

Identity theft thieves are getting more and more sophisticated in ways to get your credit card info. Marc Stewart talked to an expert who has a simple way to…
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Find out how you can protect yourself from identity theft.
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Credit Monitoring – Does it Protect You Against Identity Theft and Credit Fraud?

Credit Monitoring – How does it protect you from identity theft and what service does it really offer?

We have been asked over the past 5 years if Credit Monitoring is worth having and if we can provide this service.

Credit Monitoring is a huge business and with scores being so important it will continue to grow. How many times have you seen promotional offers for the opportunity to get free monitoring of your credit profile? It is so confusing for most to even understand their credit reports let alone what the monitoring services provide and how they can help. The information given by these services is difficult to decipher and can sometimes do more to confuse and scare consumers than help them.

I have been studying these services and learning about them for many years now. The one question I have is how can finding out you are a victim of identity theft or credit card fraud protect you? Once you know you are a victim it is already too late. When you begin to see signs of identity theft on your credit report the damage has already been done. Logically expecting Credit Monitoring to protect you from identity theft would be like studying for an exam after you fail. Identity theft is a process and the last result of it is seeing accounts on your credit report that do not belong to you. These accounts are usually in default with late payments or have gone to the point of collection or charge off.

Collections – are accounts that have not been paid at all and have been sent by the original creditor to a third party collection agency or the collection department of the creditor. Collection agencies may be lent the debt for a commission and if they are successful in collecting funds from the debtor they earn that commission. Other collection agencies buy the debt from the creditor for a reduced amount and they become full owner of whatever is collected. Once you understand this you can also see why they are so aggressive about getting consumers to make payments.

Charge offs- are when creditors write the amount the consumer owes, that has been uncollectable, off as a loss against their profits. This does not mean the consumer no longer owes the money.

So how can credit monitoring stop identity theft? The answer is it can’t. The only thing credit monitoring can do in regards to identity theft is to tell you that it is occurring. Another problem is many consumers buy credit monitoring because they are too busy to learn about their credit or just don’t want the responsibility of understanding it. They think that paying a company to monitor their credit will insure them against any problems. In many cases when the monitoring company alerts them to a new collection or charge off if they don’t recognize the account they just shrug it off as an error and don’t investigate the occurrence until they have a problem getting financing. The lesson is even when having credit monitoring you need to understand, at least, the basics of credit to recognize what is a cause for concern.

We are consistently approached by consumers with this question “I had an alert from my monitoring company. What does this mean?”. Credit monitoring companies provide basic updates to you about changes in your credit. Depending on the company hired and the specific program they offer will determine how you are updated and what information they will give you. Some companies only provide you with info about 1 credit reporting agency. Since there are 3 credit reporting agencies Trans Union, Experian, and Equifax this is just a piece of the information needed to really monitor your credit profile. One of the risks you take when hiring a monitoring service, that provides you with only one report update, is not being able to see if a collection is reported on all bureaus. Many smaller creditor’s like Verizon,Doctors,Dentists, and Health Clubs don’t want to pay the credit reporting agencies to provide each credit profile with this collection info since they will have to pay 3 times for this service. The result is they typically pay one reporting agency instead of all three and only put the collection on that one credit report. If you have picked the report that isn’t updated you will not be aware of this problem until all three reports are pulled. In this case the whole point of monitoring your credit will be lost.

When a monitoring service only alerts you that a change has occurred and does not tell you what the details of the change are we find consumers in a panic. They now know there is a change but don’t have any idea what changed. You can be updated of an alert when a 3rd party pulls your credit profile if you are shopping for a car, home, or business loan. You may be updated with an alert when you open or close an account or have a new late payment. Alerts come when balances change as well. If you don’t have details on what the alert is you will be in a continual state of panic. Credit is not stagnant and with so many changes happening daily these alerts could come all the time, daily, weekly, or monthly depending on how active your credit profile is. You can see there is much homework to do when deciding on a monitoring service. If you are highly educated about your credit and monitoring services it could be helpful for keeping you aware of the general picture of your credit portfolio. If you are uneducated or don’t have the time to keep track of your current credit situation it could be a source of continual anxiety and frustration.

Education is the key to staying updated on your credit and its significance to your financial life. There are other ways to protect yourself against identity theft and credit card fraud and we will address them in this 2 part series.

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