Stop Identity Theft

Identity theft is a definite threat to us all, effecting hundreds of people everyday across the globe. There are a number of insurance products used to cover people against ID theft, but this is not always necessary, as you can significantly reduce the risk by following a set of measures, most of which are built on common sense.

ID theft is a technique used by criminals allowing them to benefit financially through claiming they are you, for example taking out loans, applying for credit cards etc. all in your name.

One of the issues in tackling this type of fraud is that the police have limited resources, especially  as a large number of these criminals are not even in this country.

Doing all you can to avoid becoming a victim of ID theft is easier than you may think and being aware of the following points could save you a lot of grief.

1. Always make sure any important documents and financial related documents containing sensitive information are kept out of sight in a safe place. These include official documents such as passports and driving licence documents, as well as financial documents such as bank and credit card statements, bank account details, insurance documents etc.
2. Frequently monitor your bank accounts and credit card statements to ensure there are no suspicious transactions. If you have access to the internet, set up online banking wherever possible, as this allows you to keep a close eye on up-to-date statements without having to wait for your monthly paper version. Online banking is also very secure, with many banks now providing customers with card readers which generate pass codes that must be used when logging in to your account, or making a payment. If you do notice anything that looks suspicious, contact your bank or credit card provider immediately.
3. Buy a paper shredder. You can pick one up from £5 to £30 and you can use it to shred any official documents that you don’t need to keep. This includes bank statements, loan or credit card application forms and even junk mail containing any of your details i.e. name, address, telephone number etc. Simply throwing these documents away could result in them falling into the wrong hands.
4. Make sure you are aware of when your regular financial documents arrive, ensuring you are aware of anything out of the ordinary, for example you haven't received your credit card bill for 7 weeks.
5. At least once a year, apply for a copy of your credit file to check all current finance arrangements in your name, allowing you to spot anything unusual.
6. You should never give out sensitive information over the phone unless you made the call or you are 100% sure the call is legitimate. For example, you receive a phone call from somebody claiming to be your credit card provider and they request personal information such as your full name, DOB and Mother's maiden name. These are types of information that fraudsters will want to get hold of, so be vigilant.
7. Never trust emails claiming to be your bank or Credit Card company. Some of these emails can look extremely convincing and the irony is that many of them claim to require your details to help tackle fraud. You can usually spot these emails as the URL that you are required to click may appear to be the official site, but on closer inspection you will see it is in fact close, by hovering your cursor over this link. You will then be re-directed to a spoof page that looks genuine but is actually used to steal your login details
8. When moving house, subscribe The Royal Mail’s redirection service. This will ensure that any mail intended for you is delivered to your new address.
9. Check your bills as soon as they arrive in the post. If there's anything suspicious contact your bank or Credit Card company immediately.

There are a few main techniques employed by criminals to carry out ID theft. These include:

Bin Diving

Going through your bins searching for bills or other documents containing your personal information.

Skimming

Used to steal credit/debit card numbers using a special storage device. The riak can be reduced by keeping your card on your person or in view when using it to make payments.

Phishing

Claiming to be a legitimate financial institution to gain your trust then push you to reveal your personal information.

Changing Your Address

Have your mail diverted to your new address by completing a change of address form.

Old-Fashioned Stealing

Stealing wallets; mail etc. to get enough information about you.

Pretexting

Used to obtain personal information from a number of sources such as financial institutions, telephone companies, and other sources by impersonating you

When these types of criminals get their hands on your personal information, they can use them for a number of different things.

Credit card fraud:

• A new credit card can be applied for in your name. The card can then be used to get credit and all unpaid bills will appear on your credit report, damaging your credit history.
• After changing your address, they could charge purchases to your account, leaving you unaware as the bills are no longer being delivered. It could be some time before you notice anything unusual.

Phone or utilities fraud:

• A new phone or wireless account could be opened in your name, or even utility services like electricity, water, or satellite television.

Bank fraud:

• Counterfeit checks made with your details.
• Bank accounts opened in your name.
• Credit or debit card cloned giving them access to your accounts.
• A loan taken out in your name.

Government documents fraud:

• Used to get official ID cards such as a driving licence under your name but with their picture.
• Use of your details to get government benefits.
• Fraudulent tax return made using your information.

Other fraud:

• Qualify for a job using your personal information
• Rent a property in your name.

nowadays, most banks have intelligent anti-fraud systems that are capable of recognising any unusual activity on your card or account, for example money is withdrawn from a cash point in the UK and later that a cash withdrawal occurrs in Australia. 

When taking out a credit card, you will probably find that you are offered some kind of anti-theft insurance to protect you against fraud. But the fact is that ID theft is heavily promoted and sometimes over exaggerated to help sell the product.

According to a spokesman from the UK's fraud Prevention Service - the CIFAS, ID theft is still a relatively rare crime, but it is on the increase.

So as long as you’re cautious with who you give your personal information to, keeping it in a safe place, shred all unwanted documents containing your information, you should remain safe from fraud.

Related Articles

• Choosing The Right Credit Card Requires Some Efforts « Free …
• The Disadvantages Of Credit Card Use « Simple Way to Life
• Benefits Of An Instant Approval Credit Card | Article Buster

Popularity: 33% [?]

Related posts

• 10 Tips To Prevent You From Being A Victim Of Credit Card Fraud (0)
• Are You Aware That There Are Invisible Threats About Identity Theft (0)
• ID Theft Insurance Helps Pay For Identity Restoration (0)
• Homes For Sale Juegos Trabajo | Identity Theft – Tips For Identity Theft Prevention (0)
• How to Protect Yourself From Identity Theft (0)