New article with tips on preventing identity theft

The Holyoke Enterprise (from Holyoke, Colorado) gives the following tips on preventing identity theft:

—Protect your social security number: Don’t keep a Social Security card in your wallet or include the number on checks. Only provide the number when absolutely necessary, and ask to use other identifiers. If a social security number appears on a driver’s license or health insurance card, ask to substitute another number.


—Backup your wallet: Photocopy the fronts and backs of a wallet’s contents, including driver’s license, credit cards and insurance cards. One will be able to quickly notify the appropriate institutions if it gets stolen.

—Safeguard your mail and trash: Before disposal, always shred credit card receipts, checks and bank statements, credit applications or offers, insurance forms, doctor statements, expired charge cards and anything with personal information.

—Store personal information securely: This is especially important when one is having work done in the house, if they employ outside help or have roommates.

—Be on guard in public: Thieves don’t have to steal a wallet for ones identity. Shield the entry of a PIN when using the ATM. Watch out for people peeking over a shoulder or using cell phone cameras to record actions.

—Stay vigilant online: Practice safe surfing when it comes to online shopping, banking, e-mail usage and more. Don’t use public computers to access personally sensitive information. For tips to protect against Internet fraud, visit the government’s safety site at OnGuardOnline.gov.

—Choose better passwords: Select tough passwords for bank, credit card and phone accounts. Don’t use easily available information like a birthday, address, phone number or mother’s maiden name. Combinations of letters, symbols and numbers create the strongest passwords.

Or you could just do what my wife did and marry an identity theft lawyer.

For the full article, see here - http://www.holyokeenterprise.com/index.php?option=com_content&view=article&id=1544:tips-on-how-to-prevent-identity-theft&catid=34:local-news&Itemid=34.

What to do if your wallet is stolen ... and before your wallet is stolen

Pretty informative post on another blog about steps to take both before your wallet is stolen and after your wallet is stolen.  Check it out - http://clixbanker.com/?p=1761.

Good primer regarding preventing ID theft while shopping online

For those of you who like to shop online (i.e. my wife), here's a good article about how to prevent your identity from getting stolen while doing your online Christmas shopping this year:

Online shopping might be a convenient way to tackle your holiday gift list, but is your money really safe in cyber space? Experts offer some tips to safeguard your personal information.

"There's different shapes and forms that they can rob you," says Cesar Fazz, Security Manager for AEA Federal Credit Union. The recently-retired police lieutenant also knows scammers will do anything to steal your money.

"You've got to look at the address on there and look at the sites," says Faaz. Before you embark on cyber shopping, he suggests looking for a few security features.

"If you get on and they have an http address, if there's an 's' usually after that, that usually means it's a secure website." Look for the "s" when you access a web page asking you for personal information such as your credit card number.

Also watch out for a yellow lock icon.

"All that means is that the information is being sent from you, the buyer, to the website that that information is being encrypted and so forth," explains Faaz.

Those features are not fool-proof. Fazz says consumers need to first update all anti-virus software. That's because some viruses will install a program to record everything you type.

"It'll get a virus on your computer and then they're able to either see or record those keys that you're pushing like your password."

Finally forget email links. Manually type in the retailer's web address to avoid being routed to a scam site.

No measure will keep you absolutely safe from identity theft, so experts suggest you read your credit card statements to make sure you didn't become a victim without even knowing it.

 The original article can be found here, at Yuma, AZ's KSWT Channel 13's website - http://www.kswt.com/Global/story.asp?S=11602781.

Five steps to prevent identity theft

Five steps to prevent identity theft - straight from http://www.newsday.com/business/retirement/five-tips-to-deter-identity-thieves-1.1557909.

1. Hang on to your credit card



Culprits who steal identities can get into your records in a blink. Devices as small as a cigarette lighter can be used to "skim" information from any card with a magnetic strip -- even while a sales associate is processing a legitimate transaction.


A re-encoded or cloned credit card is created with another person's name on the front, and the victim's personal info on the magnetic strip. Full service gas stations "have been notorious" for this type of ID theft, Suffolk Police Det. Thomas Gabriele says. Instead, pay by cash, or swipe your card at the self-service island and pump the gas yourself wherever possible.

2.  Get ID theft protection


If a new account is opened by a thief using your personal information, the delinquent payments will be reported to a credit bureau, damaging your credit.

Obtain a free report from the three major credit bureaus, Equifax.com, Experian.com and Transunion.com. (It's important to check all three because they may not all have the same information.) Once you are certain all of the credit information is correct, you can put security measures such as passwords in place.  [ok, I don't agree with this.  Instead, you should get your free credit report via http://www.annualcreditreport.com/ via the written form you can fill out to request your credit reports.  This form (unlike the websites listed above) does not have any arbitration clauses that potentially take away your rights.]


3.  Watch the mail


Thieves may be after more than checks in your mailbox. They also can copy personal information from official correspondence. Install a locked security mailbox, opened with a key. If you are receiving checks, have them deposited directly into your bank account instead of sent to your home.


4.  Better to shred


Any piece of mail with an account number or a code could be used to invade your privacy. That includes a bank statement, medical bills -- even shopping catalogs with codes on the back. If it bears an account number or code, shred before trashing. An inexpensive crosscut paper shredder costs less than $50.


5.  Password diversity


Use different passwords for all your accounts and don't use ones that will tell thieves your personal information, such as your birth date.

If your password is breached, a thief can run rampant with it. For accounts that require passwords, create something new and unique. Write them down and file them in a safe place so they can be referenced when you need them.

Red Flag Rules do not include attorneys

As I have reported before, the FTC's Red Flag Rules regarding prevention of identity theft go into effect (allegedly) tomorrow, November 1.  The Red Flag Rules have been supposed to go into effect multiple times before, only to be delayed.  But since tomorrow is almost here, maybe they will indeed go into effect this time.

Another development is that Judge Reggie B. Walton of the United States District Court for the District of Columbia has ruled that the Red Flag Rules do not apply to law firms.  The D.C. Court agreed with the American Bar Association, finding that the Federal Trade Commission's interpretation of the Fair and Accurate Credit Transactions Act (FACTA - the amendment to the FCRA passed a few years ago) was overreaching and its application to lawyers and law firms unreasonable.

The decision turned on FACTA's definition of creditor.  Only creditors, as defined by FACTA, have to comply with the Red Flag Rules' requirements to attempt to prevent identity theft.  The Red Flag Rules require creditors to adopt written identity theft prevention procedures. 

The FTC argued that lawyers and law firms fall under the definition of "creditor" and thus have to comply with the Red Flag Rules.  Unfortunately for the FTC's argument, it was a stretch to call a law firm a creditor and Judge Walton agreed.  As a result, Judge Walton granted the ABA's motion for partial summary judgment.  This also means I don't have to write identity theft prevention procedures by tomorrow.

Another article about how to protect yourself from identity theft

Newsnet5.com of Cleveland, Ohio has an article about ways consumers can protect themselves from identity theft.  Here's the advice from the article:

Last year, close to 10 million Americans were victims of identity theft. Generally, people who made more than $75,000 were more likely to be fraud victims. The fraud rate was highest among people 35 to 44 years old.
The president of Cleveland's Better Business Bureau, David Weiss, said one in every 23 Americans is a victim of fraud. NewsChannel5's Joy Benedict headed to Target to ask shoppers there if they had ever been a victim of identity theft. The third person she asked, said, "yes." She had her credit card number stolen and some purchases were made online in her name.
The BBB says that's the first step to protecting yourself, pay attention to your bills every month. Don't put your outgoing bills in your curb side mail box, because someone could take them. Either take your payment directly to the company, pay online, over the phone or take it to the post office for delivery.
Get your free credit report every year as well to check your credit history and make sure there is no unusual activity.

And one of the most important steps to take is shredding your financial statements.

As always, I'll add my own advice - if all of the above doesn't work, hire me.  :)

Mississippi agencies come together to warn about identity theft

The Mississippi Attorney General's office, the Consumer Credit Counseling Service and Better Business Bureau are joining forces in Mississippi to warn and educate Mississippi consumers about identity theft.  Representatives of these companies will set up shop next week at Wal-Mart stores across Mississippi offering free tips about identity theft as part of the "Be Smart" campaign next week from October 19 through 24. 

Operation "Be Smart" is part of next week's National "Protect Your Identity" week.  The "Be Smart" campaign will focus on five key tips to prevent identity theft:
Shredding sensitive documents
Making wise decisions with personal information
Analyzing your credit report
Reporting identity theft
Taking precautions; knowing what safeguards are in place with your creditors.

Anyone in or near Wake County, N.C.?

One of the best way to protect yourself from identity theft is to keep your personal information (SSN, date of birth, mother's maiden name, account numbers, passwords, etc.) private.  One way to help keep this information private is to properly destroy your financial records, credit card statements, junk mail and anything else that you no longer need but are scared to just toss in the dumpster.

NBC 17 is offering a free service to inform the public about identity theft and to make sure their financial records are properly destroyed by shredding the documents right in front of them.  The event, called "Shred-It", is Saturday, October 3, 2009 from 10 a.m. to 2 p.m.  Click here for a video with more information - http://wake.mync.com/site/wake/news%7CSports%7CLifestyles/story/42375/STOP_Identity_Theft_Now

American Banking News has a good article with tips about how small businesses can better protect themselves from becoming victimized by identity theft.  The full article is at www.americanbankingnews.com/2009/09/26/identity-theft-protection-tips-for-the-digital-age/

1. Be Careful What You Throw Away
Identity thieves are skilled dumpster divers. If you or your employees throw away papers that include bank account numbers, social security numbers, and other information that can be used to perpetuate fraud, there’s a good chance that the data could end up in the hands of unscrupulous characters. Make it a firm policy to shred all waste paper that has any information that could possibly be used by people who might be looking to steal someone else’s identity.
If you only have a small quantity of this type of documentation, it will probably be feasible to handle shredding in-house, with shredders placed in strategic locations around your place of business. If your business generates a large quantity of documentation that contains protected information, it may be better for you to hire a document shredding company to take care of destroying throw away documents that may contain sensitive information.
2. Take Steps to Protect Data Stored on Company Computers
Verify that the virus protection and firewall software installed on your computer system remains current at all times. Make sure that you are using a quality virus protection program and set it up to run daily scans so that you can be as safe from computer viruses as possible. It’s also important to check for updates to your virus software and install them as soon as they become available.
It’s also a good idea to set up every desktop computer and laptop so that a password is required for login. This can help protect stored data in the event that the equipment is lost or stolen and ends up in the wrong hands. This is not a foolproof protection, of course, because skilled hackers can find their way around password protection in many cases. However, it’s certainly better than leaving computer equipment unprotected.
When your company upgrades computer equipment, it’s essential to dispose of your old equipment responsibly. Simply deleting files from your old hard drive is not sufficient to keep identity thieves from stealing your confidential data if the equipment is not properly disposed of. The only truly safe way to get rid of data from your old computer is to shred the hard drives. The same companies that provide document shredding services typically also offer hard drive recycling.

Pretty good article with tips to improve your credit score

The Bellingham Herald (not sure where that is) has a pretty good article that lists 5 ways to improve your credit score.  Pretty good because I actually agree with 4 of the 5 suggestions.  The article can be found at http://www.bellinghamherald.com/thriftyliving/story/1062195.html.

"Worried about having a low credit score? Well, you can do something about your score, but it will take a good dose of self-discipline.

The Better Business Bureau offers the following advice on how to improve a credit score.

—Review your credit report at least once a year. Errors on your credit report could hurt your score. The Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer reporting companies — Equifax, Experian, and TransUnion — to provide you with a free copy of your credit report, at your request, once every 12 months. Only one Web site is authorized to fill orders for the free annual credit report — www.annualcreditreport.com.

—Pay your bills on time. Late payments tarnish a credit score.

—Pay traffic tickets on time. Tickets for simple parking and moving violations, and any other fines owed to your local government, can hurt a credit score.

—Keep credit card debt and balance low. Carrying a large balance relative to a credit card limit can have a negative impact.

—Limit the number of credit cards you hold.

—Consider credit counseling. Credit counselors can help a person get debt under control and manage it better."

I agree with the first three points completely.  The fourth point about limiting the number of credit cards is true but don't go closing cards you already have because that can hurt your score too. 

I would also be wary of the last tip.  There are a lot of debt counseling companies that are nothing but scams.  Be sure to check them out thoroughly (including googling for others' experiences with them) before using them at all.

Tip for college students to avoid identity theft

Back to school time again ... buying pens, paper, folders, backpacks, etc.  One thing to add to the list for college students (or any other dorm resident) is a small safe for storage of bank statements, credit card statements and receipts, passwords and identification documents (birth certificates, etc.).

College students are more at risk for identity theft thanks to close living conditions and a more lax attitude that most college students have.  Help them protect themselves by buying them a small safe, which can easily fit in the bottom of a dorm room closet.