CyberImpersonate

Computer Identity theft is a serious crime that is growing each year. If you’re a victim of identity theft you may spend months, even years, trying to repair a ruined credit history. A seriously damaged credit report can compromise your chances of getting a new job, a bank loan, insurance or even rental housing. It’s even possible to be arrested for a crime you didn’t commit if someone else has used your identity to break the law.

Unfortunately, many of the methods that thieves use to steal identities are beyond your control to guard against. Although it’s rare, even store clerks have been known to use their position to pass along information to identity thieves. There are measures you can take, that will make it more difficult for a thief to use your identity.

Protect Your Credit Card Number After It Has Been Swiped When Making A Purchase

Protect your credit card number after It has been swiped when buying items, insure that the printed receipt masks all but the last 4 digits of your credit card account number (usually there will be Xs in place of the first 12 digits). There are terminals still print receipts that show all 16 digits of an account number, and may even include the expiration date as well. After your card is swiped, you’re permitted by law to hide the first 12 digits of your account number on the copy of the receipt that the vendor keeps. Use any marking pen that will do the job.

When you go to a restaurant, it is important to make sure that the first 12 digits of your credit card number are hidden on your receipt. You may be in the habit of signing it and then leaving the restaurant’s copy on the table after your meal. An identity thief can easily steal the signed receipt before the waitperson comes back around to pick it up from the table. Don’t take any chances.

Do You Really Need To Give Your Social Security Number?

Another important way that you can guard against identity theft is to avoid giving out your social security number unless it’s absolutely required. Although you need to share your social security number when you apply for credit or for a bank account, sometimes a store or an organization will want to use it as an ID number, simply to identify you within their system. This is a common practice even though the law says that social security numbers aren’t to be used as ID numbers. In these situations, use your judgment. There’s usually an alternative if you ask.

Destroy Documents That Contain Sensitive Personal Info

Buy a paper shredder and use it to destroy documents you’re throwing away which contain personal information such as credit card numbers, social security numbers, phone numbers and dates of birth. This should be done at home and at work. Identity thieves are not above going through someone’s trash to find personal information that can help them obtain credit in your name.

If you are a victim of computer identity theft, take these steps immediately. Notify your credit card companies, shut off your accounts immediately immediately and ask to have new cards issued to you. Place a fraud alert on your file with any one of the three major credit bureaus. The other two will be notified automatically. File a police report. You may need it to show to creditors as proof of the crime.

Cyber Identity theft has become a major problem in today’s electronic cash and Internet shopping world. It seems that whenever banking and online security advances to keep out the baddies they go and improve the types and variety of their scams. Sometimes however it is not the breaching of electronic security but the complacency and misplaced trust of the individual that allows these criminals to get away with your money.

While the loss of the initial money taken from your bank accounts or credit cards is enough of a shock what is often even worse is the ongoing problems you may face long after the actual crime. Things such as your credit history will have a record of unpaid bills or bad credit identified with the online theft that can be more difficult to overcome and create ongoing problems and stress.

Obviously the best way to combat identity theft or other such scams is prevention. By being vigilant regarding transactions made on your credit cards or bank accounts, and taking the necessary action quickly you can limit your losses if you notice any fraudulent transactions. If you do notice any questionable transactions on your accounts then there are a few steps to take to limit your losses.

Notify your bank or credit card company’s fraudulent claims department immediately that there are debatable transactions on your account. You may be liable for the cost of fraudulent transactions on your account until the time you notify your bank so vigilance is the key, however many credit cards have a $50 maximum liability.

If necessary close your accounts and open new ones with completely new passwords etc. Request that the accounts be closed via phone initially and then in person to ensure that your request has been acted upon.

Contact the main credit reference agencies (such as Equifax, Transunion and Experian) and place a fraud alert on your file. This will help to prevent further fraud by the criminals who have your information.

Report the fraud to the authorities who will issue you with a crime number. This number is required to make any claims against insurance etc.

Contact the Federal Trade Commission (FTC) and report the details of the fraud. This helps the authorities to keep up with any new methods being used by criminals to commit ID theft and thus helps to stamp it out.

Aside from the procedures to follow if you are a victim of identity theft there are a few simple measures to take to help stop it in the first place. Trivial things such as never carrying your PIN number in your wallet or purse with the card are too frequently forgotten giving criminals easy access to your cash should you misplace your wallet. Also, never ever respond to emails requesting you to log into your bank account from a link within the email that appears to be from your bank. This type of account password harvesting is known as Phishing and catches more people that it should by gaining their account details and then clearing the account of all funds before the owner realizes it.

Cyber Identity theft and other types of fraudulent activity are all too common and will always be a danger to the electronic banking system we have today. That danger is what we pay for convenience and access to our credit. Despite these risks however if you remain vigilant and take some common sense measures to protect yourself from this type of fraud you can limit your losses and sometimes escape relatively unscathed.