Not too long ago, a friend of mine mentioned that one of his coworkers recently recovered his stolen identity. I asked how long the process took. "Only two years" he replied.
Compared to my business partner's six year nightmare "only" maybe appropriate but like most victims of identity theft, he probably thought "when". As in, "when will I get my life back?"
Privacy Rights Clearinghouse, a consumer nonprofit organization, reported that victims spend on average 175 hours trying to recover their identity, often over a period of years. Factor in out of pocket expenses, (usually over $1,500 according to the FTC) and recovery gets painfully magnified.
What are the steps to identity restoration? It starts with obtaining a police report. That report doesn't mean other law enforcement agencies have been contacted. Yet you must do a complete search of local and federal law enforcement databases too find out if anything else, including criminal activity exists on your identity.
You're also going to need the police report to contact the many and I mean many different agencies and organizations, including the Social Security Administration, The Federal Trade Commission, all of your financial institutions, the 3 major credit bureaus, the Passport Office,The Department of Motor Vehicles, the Post Office, as well as the Medical Information Bureau . All of these places must be sent a fraud notification alert. Concerning your financial institutions, get them to cancel your credit cards and close your bank accounts. Find out from your bank about any suspicious activity, such as accounts tampered with or opened fraudulently. Reopen new bank accounts with password verification.
Know your rights. According to the Fair Credit Reporting Act of 1992, you must be told not only what's in your file but if that information is being used against you. The Federal Trade Commission recently expanded the rights available to victims of identity theft, including your right to get negative information due to fraud blocked from your records.
This brings us to the credit bureaus. Make sure your credit report reflects the identity theft and gets flagged with a fraud alert. Many victims have received assurances that the matter would be resolved, however months and sometimes years later, the credit bureaus have not cleared their records. This without a doubt ranks as THE biggest headache for identity theft victims.
Once a negative gets put on your record, it seems the credit bureaus refuse to remove it, in spite of the countless documentation you provide to them. This can affect you well into the future when buying a house, car or any other big ticket item. If you are going to do this by yourself, constant follow up is critical. That goes for all the organizations but especially the credit bureaus. Be diligent until the matter gets resolved. Getting a lawyer wouldn't be a bad idea.
Stay Away from "credit repair companies". No matter what they advertise, there's usually nothing they can do to help you with identity theft. Some of them even offer to help you apply for credit under a new identity. Hello? When trying to eliminate fraud from your record you don't want to create more fraud!
Advise the utility companies. It's not just bank accounts and credit cards. Many identity thieves commit fraud by opening telephone accounts, purchasing cable television or establishing credit with the gas & electric companies, in the hopes it will go unnoticed for as long as possible.
If necessary get counseling. Identity theft can be a shattering experience mentally and emotionally. Victims and family members often feel violated. It's not their fault of course but the feelings remain. A network of support groups and counselors exists if you need it.
The road back from identity theft can take years, cost a lot of money,and cause much stress and pain . But with follow up, support and belief that the nightmare will end...the nightmare WILL end.
Showing posts with label identity theft. Show all posts
Showing posts with label identity theft. Show all posts
Thursday, November 3, 2011
Thursday, September 29, 2011
Online Scams: How To Avoid Getting Fooled
Beware of the three ways of getting fooled into giving up your money through seemingly innocent money-making schemes. Scams are all around us and it can be found in every single area of life, but more so in such areas where the risk is greater such as when dealing with credit cards, bank accounts and other activities which involve sending or receiving money online.
The Bank/Credit Card Email Scam:
If you get an email asking you to sign up to your bank account or credit card through the email because your privacy is under danger or just to receive a free gift or something: BEWARE! Do not sign up through the internet address provided in the email. If the email does make you anxious, go to the bank or credit card site using the address you know already or through searching the search engines.
How Does This Scam Work?
The senders of the email know that only a very few will sign up but that is all they need. When you signed up to the bogus internet address, they got your user and password. Now its time for them to party!
The Missing Millionaire Scam:
If you receive an email saying that they represent a dead or missing former ruler, high-ranking official or businessman from an African, Gulf or even Russian: BEWARE! They offer you a chance to earn anything between one to five percent of ten to fifty million. And for your co-operation only. Don't get sucked into this, for though they speak of giving you money, they will receive cash and from your account.
How Does This Scam Work?
They will ask you for your bank details in order to transfer the cash and then they will use that to transfer a small amount. Now, once you trust them, they will ask you for more personal and secure details because they "need" that to transfer the entire sum in and out of your account. What they won't tell you is that they will transfer all the money out from your account: theirs and yours.
The Make Money Fast Scam:
This is the most innocent of the lot, but that is also why it is the most dangerous. These are so-called companies that advertise that if you only sign up and use their system, you will mint money. Please do not fall for such schemes. They will pay you some money but then once trust is built, they will fleece your bank account. Remember that quick money scams are the surest and fastest way to lose all your money!
Conclusion:
Whatever you do online, always remember that the internet is not a safe place. Treat it like you would treat any other business venture and bring up your guard. If you play it safe and check out the companies before committing, you will be able to guard yourself against losing money to crooks.
The Bank/Credit Card Email Scam:
If you get an email asking you to sign up to your bank account or credit card through the email because your privacy is under danger or just to receive a free gift or something: BEWARE! Do not sign up through the internet address provided in the email. If the email does make you anxious, go to the bank or credit card site using the address you know already or through searching the search engines.
How Does This Scam Work?
The senders of the email know that only a very few will sign up but that is all they need. When you signed up to the bogus internet address, they got your user and password. Now its time for them to party!
The Missing Millionaire Scam:
If you receive an email saying that they represent a dead or missing former ruler, high-ranking official or businessman from an African, Gulf or even Russian: BEWARE! They offer you a chance to earn anything between one to five percent of ten to fifty million. And for your co-operation only. Don't get sucked into this, for though they speak of giving you money, they will receive cash and from your account.
How Does This Scam Work?
They will ask you for your bank details in order to transfer the cash and then they will use that to transfer a small amount. Now, once you trust them, they will ask you for more personal and secure details because they "need" that to transfer the entire sum in and out of your account. What they won't tell you is that they will transfer all the money out from your account: theirs and yours.
The Make Money Fast Scam:
This is the most innocent of the lot, but that is also why it is the most dangerous. These are so-called companies that advertise that if you only sign up and use their system, you will mint money. Please do not fall for such schemes. They will pay you some money but then once trust is built, they will fleece your bank account. Remember that quick money scams are the surest and fastest way to lose all your money!
Conclusion:
Whatever you do online, always remember that the internet is not a safe place. Treat it like you would treat any other business venture and bring up your guard. If you play it safe and check out the companies before committing, you will be able to guard yourself against losing money to crooks.
Wednesday, March 24, 2010
14 Steps You Can Take to Prevent Identity Theft:
The Fair and Accurate Credit Transaction Act, known commonly as FACTA, was put into law in the United States to help to protect consumers from identity theft and to help in its prevention. FACTA ensures that all citizens are treated fairly when they apply for a mortgage or other form of credit and it entitles them to a free annual credit report to verify its accuracy.
Becoming a major epidemic, Identity Theft occurs when a criminal uses another person's personal information to take on that person's identity. Identity theft includes the misuse of a Social Security number, credit cards, mail fraud, scam, schemes, frauds, or any other form of misuse or abuse of a victim’s identity.
There is no guarantee that you will never be a victim; however, there are steps you can take to minimize your risk. Here is a list of 14 steps you can take to prevent or at least minimize its occurrence:
1. Manage your personal information cautiously and with a new awareness that identity theft can occur anytime anywhere and when you least expect it.
2. Ask about security procedures in your workplace, doctor's office, or other business or organization that routinely collects relevant and personal identifying information as part of doing business or providing a service. Find out who has access to your personal information and verify that it is handled securely. Inquire about their disposal procedures and if your information will be shared with anyone else (namely third parties such as mailing list companies, marketing and survey companies, etc.).
3. Instead of giving your Social Security Number, inquire if you can use other types of identification. Use your Social Security Number with caution and only when absolutely necessary.
"Your Chances of becoming victimized by some form of identity theft is one in ten," according to the Federal Trade Commission.
4. If you find that you have been victimized, immediately file a complaint with the Federal Trade Commission. The FTC maintains a database of identity theft cases used by law enforcement agencies for investigations. Filing a complaint helps the FTC learn more about identity theft and the problems victims are having. This knowledge helps them to assist you better.
5. Carry only the identification and the number of credit and debit cards that you will actually use. Leave extra cards in a safe place at home, in a safety deposit box, or any other secured location.
6. Avoid giving out personal information on the phone, through the mail, or on the internet unless you are absolutely sure you know and can trust with whom you are communicating. Caution: Before you share personal information, be sure you are dealing with a legitimate business or organization. (If you are unsure about an online communication, check the organization’s website by typing its URL in the address line. Most large companies post alerts on their sites when they are aware of a scam when their name is used improperly.)
Identity thieves usually pose as representatives of banks, lotteries, sweepstakes, internet service providers, or some other officially-sounding-entity. They will use any means possible to try to get you to reveal your valuable information.
7. Call the Customer Service Department of companies or organizations with whom you do business using the number listed on your account statement or in the telephone book.
8. Do not place passwords on your credit card, bank, or telephone accounts.
9. When choosing a password, avoid using obvious information like your mother's maiden name, your birth date, a series of consecutive numbers, or the last four digits of your Social Security Number or your phone number.
10. Pay attention to your billing cycles. A missing bill could mean an identity thief has gotten their hands on it.
"9.9 million people were victims of identity theft in 2002", according to the Federal Trade Commission. Don't wait until it happens to you.
11. Be wary of promotional scams or phony offers to get you to give them your personal information such as lottery and sweepstakes’ that you have never entered and ones asking for an "administration" fee.
12. If your job requires you to suit up in special clothing at work, never leave your purse or wallet in your personal clothes. Always keep them in a safe and secured place.
13. When reordering checks, pick them up at the bank instead of having them sent to your mailbox.
14. Obtain a current credit report by contacting any of these major credit bureaus:
Equifax: P.O. Box 740241 Atlanta, GA 30374-0241
For Fraud Alerts, call: 800-525-6285
Experian: P.O. Box 2002 Allen TX 75013
For Fraud Alerts, call: 888-EXPERIAN (397-3742)
Trans Union: P.O. Box 1000, Chester, PA 19022
For Fraud Alerts, call: 800-680-7289
Think you're not at risk? Unfortunately, you are. View "Protecting Your Identity" blog at www.ProtectingYourIdentity.blogspot.com to learn more about what you can do to protect yours.
Becoming a major epidemic, Identity Theft occurs when a criminal uses another person's personal information to take on that person's identity. Identity theft includes the misuse of a Social Security number, credit cards, mail fraud, scam, schemes, frauds, or any other form of misuse or abuse of a victim’s identity.
There is no guarantee that you will never be a victim; however, there are steps you can take to minimize your risk. Here is a list of 14 steps you can take to prevent or at least minimize its occurrence:
1. Manage your personal information cautiously and with a new awareness that identity theft can occur anytime anywhere and when you least expect it.
2. Ask about security procedures in your workplace, doctor's office, or other business or organization that routinely collects relevant and personal identifying information as part of doing business or providing a service. Find out who has access to your personal information and verify that it is handled securely. Inquire about their disposal procedures and if your information will be shared with anyone else (namely third parties such as mailing list companies, marketing and survey companies, etc.).
3. Instead of giving your Social Security Number, inquire if you can use other types of identification. Use your Social Security Number with caution and only when absolutely necessary.
"Your Chances of becoming victimized by some form of identity theft is one in ten," according to the Federal Trade Commission.
4. If you find that you have been victimized, immediately file a complaint with the Federal Trade Commission. The FTC maintains a database of identity theft cases used by law enforcement agencies for investigations. Filing a complaint helps the FTC learn more about identity theft and the problems victims are having. This knowledge helps them to assist you better.
5. Carry only the identification and the number of credit and debit cards that you will actually use. Leave extra cards in a safe place at home, in a safety deposit box, or any other secured location.
6. Avoid giving out personal information on the phone, through the mail, or on the internet unless you are absolutely sure you know and can trust with whom you are communicating. Caution: Before you share personal information, be sure you are dealing with a legitimate business or organization. (If you are unsure about an online communication, check the organization’s website by typing its URL in the address line. Most large companies post alerts on their sites when they are aware of a scam when their name is used improperly.)
Identity thieves usually pose as representatives of banks, lotteries, sweepstakes, internet service providers, or some other officially-sounding-entity. They will use any means possible to try to get you to reveal your valuable information.
7. Call the Customer Service Department of companies or organizations with whom you do business using the number listed on your account statement or in the telephone book.
8. Do not place passwords on your credit card, bank, or telephone accounts.
9. When choosing a password, avoid using obvious information like your mother's maiden name, your birth date, a series of consecutive numbers, or the last four digits of your Social Security Number or your phone number.
10. Pay attention to your billing cycles. A missing bill could mean an identity thief has gotten their hands on it.
"9.9 million people were victims of identity theft in 2002", according to the Federal Trade Commission. Don't wait until it happens to you.
11. Be wary of promotional scams or phony offers to get you to give them your personal information such as lottery and sweepstakes’ that you have never entered and ones asking for an "administration" fee.
12. If your job requires you to suit up in special clothing at work, never leave your purse or wallet in your personal clothes. Always keep them in a safe and secured place.
13. When reordering checks, pick them up at the bank instead of having them sent to your mailbox.
14. Obtain a current credit report by contacting any of these major credit bureaus:
Equifax: P.O. Box 740241 Atlanta, GA 30374-0241
For Fraud Alerts, call: 800-525-6285
Experian: P.O. Box 2002 Allen TX 75013
For Fraud Alerts, call: 888-EXPERIAN (397-3742)
Trans Union: P.O. Box 1000, Chester, PA 19022
For Fraud Alerts, call: 800-680-7289
Think you're not at risk? Unfortunately, you are. View "Protecting Your Identity" blog at www.ProtectingYourIdentity.blogspot.com to learn more about what you can do to protect yours.
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