ID theft : credit card theft

More airport travel means more ID theft opportunities for thieves

IdentityTheft — Tue, 28 Jun 2011 15:58:00 GMT

Summer is underway and that means more and more people are traveling – and many of them are traveling on airplanes. Airport security is tight, but there is one area where airport security is helpless – identity theft.

Tech-savvy thieves lurk in airports, targeting travelers for electronic pickpocketing, and remotely skimming their credit card and passport information without ever having to touch the travelers. The theft goes undetected because a thief has only to be present with a commercially available wireless card reader within arm's reach of the victim. Security cameras and airport security personnel carry on as usual, completely unaware that the crime has taken place.

Credit card makers have repeatedly stated that the cards bearing the chip that allows wireless transactions is safe from theft. But documents uncovered at the U.S. Patent and Trademark Office state that at least one company knew the cards were susceptible to electronic pickpocketing.

Credit card companies have not responded to the rise in this crime, neither warning customers or providing protective sleeves with issued cards.

Since it appears the credit card industry isn't willing to do anything to protect consumers, it's up to the consumers themselves. You can tell if your credit or debit card has the chip in it by the four wavy lines on the front. You can request a card without this chip. Some credit card issuers do provide a protective sleeve, but you must request it. Keep your card in this sleeve when not in use.

Know the criminals' tricks – protect yourself much better

IdentityTheft — Tue, 14 Jun 2011 15:07:00 GMT

The identities of millions of Americans are stolen and compromised each year. A stolen ID is used an average of 30 times before the victim even knows it has been stolen. That's a grim thought – but there are things you can do to protect yourself. The first step is to be familiar with the most common types of identity theft.

The information on your driver's license is valuable to an identity thief because it provides him with your name, address, date of birth and license number. Thieves can use this information to open checking accounts, and buy cars and other high-cost items. And since the thief knows where you live, they can rob you and possibly hurt you and/or your family.

A thief can also use your driver's license in order to obtain your Social Security number by claiming it has been lost and getting a new card issued. This will allow him to obtain Social Security benefits like HUD benefits, medical and dental care, and he can even obtain a fake passport and get out of the country before he's caught.

Another type of theft is medical identity theft. This type of theft involves a thief obtaining your personal information and using it to obtain medical services, leaving you with the bills. This is particularly dangerous because the thief's medical history becomes tied to yours, and you could potentially be injured or even die due to receiving a medication or procedure based on the thief's history and not your own.

The most common type of identity theft is financial. Criminals often steal personal information, along with banking or credit card information, in order to empty the victim's bank account, or make charges on the victim's credit card.

Make sure your monitor your credit card and bank statements carefully each month, and keep a close eye on your credit report as well. Make sure to look closely at each transaction, and check to be sure there is no fraudulent or incorrect information listed.

How to avoid credit card fraud

IdentityTheft — Wed, 10 Nov 2010 18:45:00 GMT

Credit card fraud costs cardholders and issuers hundreds of millions of dollars each year. While theft is the most obvious form of fraud, it can occur in other ways. For example, someone may use your card number without your knowledge.

It's not always possible to prevent credit or charge fraud from happening, but there are a few steps you can take to make it more difficult for a thief to capture your credit card or card numbers and minimize the possibility.

When you receive your card, sign it as soon as you have it in hand, says the Federal Trade Commission. Carry your cards separately from your wallet, in a zippered compartment, a business card holder or another small pouch. Keep an eye on your account numbers and expiration dates, and keep the phone numbers and addresses of each card issuer in a secure place.

When making a purchase or paying for services, keep an eye on your card and get it back as soon as possible. Void incorrect receipts, and destroy carbons. Save receipts to compare with billing statements. You should open your bills promptly and reconcile your accounts monthly.

If there are any discrepancies or errors, notify the card issuer immediately.

Don't lend your cards to anyone, and don't leave cards or receipts lying around. Don't sign blank receipts, and draw a line through any blank spaces above the total.

You should never write your account number on the outside of an envelope or a postcard. Don't give your account number out over the telephone unless you initiated the call or you know the person on the other end is trustworthy.

If you lose your card or it is stolen, call the issuer immediately. Many companies have toll-free numbers and 24-hour service to deal with such emergencies. By law, once you report the loss or theft, you have no further responsibility for unauthorized charges. In any event, your maximum liability under federal law is $50 per card.