Identity Theft

Debit Card Fraud

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A debit card is a useful money management tool. It provides credit card-like access to purchases, but the money comes directly from your checking account, not from a line of credit. Many people prefer to use debit cards in order to avoid the pitfalls of credit cards. Some banks and credit unions even offer rewards programs similar to credit card rewards programs. For example, Target offers the Redcard Debit card that offers 5% off of each purchase, just like the Target credit card does. However, there are some very big differences between credit cards and debit cards when it comes to fraudulent charges. Debit Card Charges Fraud One of the major differences between a debit card and a credit card is that a debit card can be used both as a debit card, via a PIN number, and as a credit charge card, via a signature. If you use the PIN number method, you must enter your PIN into a little terminal. Never give your PIN or say your PIN to the person conducting the transaction. If you cannot enter your PIN secretly, then process the transaction as a charge transaction instead. The PIN number provides a little bit of …

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What the Equifax Hack Really Means For You

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There is a lot of misinformation out there about the Equifax security breach, or hack. I wrote up a quick blurb the night I heard about it to try and help, but now it’s been a few days and it’s clearer what is happening, and what people are thinking. What Can I Really Do About the Equifax Hack? About the only thing that might punish Equifax is if tons of Americans put a freeze on their Equifax credit reports and then refused to take them off when lenders ask. Unfortunately, the answer is really that there is nothing you can do about the Equifax security breach. Unlike your usual credit card number theft, or username and password theft, the information the hackers got from Equifax isn’t able to be cancelled and replaced. This is your life, your addresses, employers, banks, cable company, cell phone company. It’s a master key for identity theft, and it exists out there forever, now. There is nothing you can do but watch and wait. Let’s start with what won’t help you stay safe from the Equifax data breach. Changing usernames and passwords – The hackers didn’t get usernames and passwords. Assuming your usernames and passwords …

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Zombie Social Security Numbers

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According to a recent CNN article, the Social Security Office still has active (that is, not official deceased) numbers and records for 6.5 million Americans age 112 or older. There are only 35 total people living worldwide who are that age. The problem? These, so called, zombie social security numbers could be used, along with a fake birth certificate (or a lot of makeup) to create fraudulent IDs, credit cards, bank accounts, you name it. And, since the numbers are active, but not being used, no one will even be around to complain that accounts are being opened in their name. The truly funny part about this is that the fix is so difficult, brought to you by the people who do bureaucracy best. If you aren’t a government employee, the (partial) fix is as easy as writing a small computer program. There are apparently 12 people that age still actively drawing Social Security benefits. If the total number of 112-year olds is even remotely accurate, than less than 20 people world-wide could still be alive, and counting on having that valid Social Security number. In other words, expiring every one of the 6.5 million numbers (except the 12 still …

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Online Banking Security Internet Privacy

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When it comes to protecting your privacy online, nothing is more important than a good browser data clearing tool. Deleting your cookies through a web browser’s interface hasn’t been good enough for a long time. Fortunately, utilities like CCleaner and Glary Utilities as well as Firefox add-ons and Chrome extensions fill the need to completely clear your private data from browser cache, flash cookies, and so on. What we need now is a way to manually and selectively protect certain cookies from cleaning. A lot of banks and financial institutions are requiring users to take an extra step when accessing their account information from a new computer that has never accessed the site before. For example, Chase Bank, which handles the Amazon Rewards Visa Card, requires users to get an authentication code via text message or email to one of the numbers or addresses on record with the account in order to log in from a new computer. Bank Login Register Computer First Online banking customers at ING have to answer one or more of their extra security questions in order to access their high-interest online savings account or online checking account. This extra layer of security helps prevent hackers …

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Online Bargains Aren’t Always Great Deals Check The Details First

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Black Friday has come and gone. Cyber Monday is history. Yet, online shopping continues in full force. Various reports suggest that online shopping has increased dramatically this year, likely due to the increasing usage of broadband connections in the home, and the draw of huge savings secretly located on the Internet if you can just find the right combination of coupon codes, discount websites, and wholesalers online. However, as always, when it comes to personal finance what you don’t know can hurt you. Make sure you understand all of the details regarding online shopping for bargains. Otherwise, you may get burned. Amazon Makes Online Shopping OK Not long ago, online shopping was the exclusive providence of very specific people, typically techies, and ultra-bargain shoppers who linked together in electronic discount finding groups reminiscent of the old coupon clubs. A few appearances on Oprah by folks like "Coupon Mom" helped drive online shopping and deal finding to the forefront of the American consciousness. But, what finally pushed online shopping over the edge from the wary, angst filled, activity it used to be to a common shopping method used by teenagers, little old ladies, and the technological inept alike was the legitimizing …

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Preventing Identity Theft – Paper Shredder Files and Documents

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Identity theft can happen in a lot of different ways. Some of them are difficult to avoid, if not impossible. Others are easily preventable with a little knowledge, experience, and understanding, plus a little bit of effort. Preventing identity theft with a paper shredder to destroy junk mail and other documents is an important start. Shred Records Files and Documents to Protect Against Identity Theft One of the easier methods how to steal someone’s identity is to obtain documents or other papers that have personal information printed on them. Everything from old tax returns, to receipts, to old contracts, or even a utility bill can be a wealth of information for an identity thief. Easier still is to do identity theft while getting a fraudulent credit card at the same time. This is frighteningly easy thanks to banks and credit card companies sending out hundreds of thousands of credit card offers, complete with pre-filled information like your name and address. While neither your nor the identity thief would be able to interpret it, the various letter and  number combinations printed on the credit card application or special zero percent interest balance transfer offer can also direct the credit card company …

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Government Mortgage Help Programs Scams and Deceptive Marketing and Mailings

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It was with much fanfare last month that Congress and the Obama administration passed laws putting into effect government programs to help American homeowners with their mortgages.  Both The Emergency Economic Stabilization Act, and The American Recovery and Reinvestment Act were front page news all over the country. A lot of this publicity was due to the fact that Americans have started to perceive the government as helping out Wall Street and big banks more than they are helping ordinary taxpayers and homeowners who did nothing wrong during the housing bubble and subsequent market collapse and banking collapse. However, the same publicity also made it easier for scammers and dishonest marketers to take advantage of people’s hopes by pretending to have something to do with the government programs when, in fact, they are either outright scams to steal your money or steal your identity, or they are mortgage brokers or mortgage companies that have nothing to do with the government mortgage aid programs trying to insinuate that they are part of those programs.  Unfortunately, many people are falling victim to these con artists and their tricks. How To Protect Yourself From Scams, Thieves, and Con Artists Using Government Mortgage Aid …

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Here Comes Your Annual Privacy Notice

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Have you been carefully reviewing your year end mail and statements from the companies you do business with? If not, you may have not noticed the annual privacy notice which gives you the right to opt out of having your private info sold to the highest, lowest, and every bidder in between.