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Click above or on a Red Flag to learn more about becoming compliant with the FTC's Red Flags Rule! To view a short video about Red Flags Compliance for Mortgage Professionals -CLICK HERE! To view a short video about Red Flags Compliance for Business Owners -CLICK HERE! To view a short video about Red Flags Compliance for Physicians -CLICK HERE! To view a short video about Red Flags Compliance for Dentists -CLICK HERE!
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FTC booklet: "Fighting
Fraud With The Red Flags Rule", CLICK
HERE!
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Estimates Are That Between 10 and 15 Million Identity Thefts Will Occur This Year!Identity theft cost U.S. businesses $55.7 billion in 2007, according to Javelin Strategy & Research.Think you are not at RISK - Think Again Click here to watch how easy it is to steal an identity
After further investigation, I discovered that the parolee had obtained this victim's banking information and had a computer program that was used to print up the checks but, of course, their was no magnetic strip on the routing or bank account number. What did that mean? It meant that after he cashed the checks or used them to purchase items, the bank would have to hand process them as a computer could not read them. This gave the parolee additional time to write a lot of checks before the victim would even find out. At that time, there were no Identity Theft laws, so he was charged with fraud only. Since that time, I have recovered numerous credit cards, bank statements, ids etc.. from other parolees and drug users and manufacturers in the course of my job. However, at that time, most police agencies didn't take reports or prosecute these thieves for Identity Theft. I am now a Certified Identity Theft Risk Management Specialist (CITRMS) and help businesses and individuals like you protect themselves and their families, from Identity Theft and Fraud. To learn more about Identity Theft and how to protect yourself, your family or your business, then subscribe to my Free Newsletter below and receive a 48 page ebook entitled "Take Charge - Fighting Back Against Identity Theft. To view the table of contents of the book - click here.
What is Identity Theft?Identity theft occurs when someone uses your personally identifying information, like your name, Social Security number, or credit card number, without your permission, to commit fraud or other crimes. Identity Theft includes:
The following is a video about Child Criminal Identity Theft
Watch the above news story from CBS about Medical Identity Theft (Part 1)
Medical Identity Theft (Part 2) The FTC estimates that as many as 9 million Americans or more have their identities stolen each year. In fact, you or someone you know may have experienced some form of identity theft. As you can see from above, the crime takes many forms. Identity thieves may rent an apartment, obtain a credit card, or establish a telephone account in your name. You may not find out about the theft until you review your credit report or a credit card statement and notice charges you didn’t make—or until you’re contacted by a debt collector. Identity theft is serious. While some identity theft victims can resolve their problems quickly, others spend hundreds of dollars and many days repairing damage to their good name and credit record. Some consumers victimized by identity theft may lose out on job opportunities, or be denied loans for education, housing or cars because of negative information on their credit reports. In rare cases, they may even be arrested for crimes they did not commit. The latest statistics show an average victim of Identity Theft will spend $1500 and up to 600 hours of their time to restore their good name and credit This is according to the FTC and President Bush's Identity Theft Task Force report. To read more on this report at my blog click here! (but I can help you avoid that - more later) Watch the video below to see how the government is assisting Identity Thieves - at your expense!
Armed with key pieces of their victim’s personal information, such as name, date of birth, Social Security number, account number, mother’s maiden name, etc., an identity thief may:
Victims of Identity Theft typically do not find out that they have been victimized until long after the fact. Initial discovery is often the result of the victim being unexpectedly denied credit or turned down for a loan, through the receipt of telephone calls or collection notices from creditors, suddenly having checks declined or bank accounts drained, the discovery of numerous unexplained charges on credit card statements, or even through their arrest for crimes that they did not commit. Heck, Do you ever:
The next video is how thieves use credit card skimmers to steal your information.
Watch the above CNN story on how your identity and financial information is traded via the internet. Identity Theft is a crime that cannot be completely prevented, even by the most cautious consumer. This is a fact made pointedly clear on a regular basis through the hundreds of reported serious data breaches, whether through loss or theft, at major financial institutions, corporations, universities, retailers, and even government agencies such as state DMVs, the I.R.S., the Social Security Administration, the Veterans Administration, and the military.
Identity Theft is Less Risky, Incredibly Easy, and Highly Profitable - Will You Be The Next Victim? Simply put, a thief who robs you of your wallet or purse at gunpoint and is caught is likely to be sentenced to 5 to 10 years in prison for armed robbery. In comparison, an identity thief who steals your identity, opens 20 accounts in your name, and accrues tens of thousands of dollars in fraudulent debt may receive probation but most likely will never see the inside of a courtroom. Why is this? First, white collar crime is not considered a violent offense. No weapons were used in its commission, and no one’s life was threatened (Although it could be threatened if it was a Medical Identity Theft). Prison over-population mandates that what little space is available be reserved for violent offenders. Many Identity Theft crime rings recruit low paid employees or drug addicts to steal sensitive customer information from their place of work. At five to ten dollars per name and Social Security number, this can quickly add up to a very lucrative source of income, particularly if the employee has access to a large database.
Furthermore, because of the very nature of the crime, identity thieves are difficult to catch, which means that there is a far greater likelihood they will successfully get away with Identity Theft as opposed to other types of crimes. An Identity Theft case often crosses multiple jurisdictional boundaries, with differing laws and penalties, and differing jurisdictional policies and procedures, making inter-agency cooperation difficult. Identity Theft and fraud cases are regularly linked to other crimes, most notably the illegal drug trade. Criminals and drug addicts use these crimes as a way to obtain money to purchase their drugs or fund their operations. They may use the victim’s information themselves, or acquire and sell the victim’s information to other criminals as a source of revenue. Even after the initial crime is discovered and any resultant fraudulent activity is eventually resolved, victims whose information has been sold are always in danger of being re-victimized again in the future, as their information may be sold or traded to other criminals over and over. There is also an even darker side to Identity Theft, because the crime is very appealing to international terrorist organizations. For example, in the ensuing law enforcement investigations after the September 11th terrorist attacks, it was determined that the attacks were funded in large part through fraudulently obtained credit cards, and nine of the terrorist operatives reportedly entered the United States using falsified visas and stolen or fraudulent identities. You've probably heard of Phishing and Spyware. Watch the CBS news story below to see how hackers and internet ID thieves use these methods to obtain your information.
Additional CNN Emmy Winning news story below on "How To Rob A Bank" (by phishing)
"How To Rob A Bank" (part 2) where two of the thieves were former Indianapolis Colts
Are You Liable?With very few key exceptions, usually outlined within the fine print of account holder agreements, federal consumer protection laws generally limit the victim’s financial liability for certain types of fraudulent financial transactions. However, most consumers are completely oblivious to the fact that their liability protection is not unconditional, and that they may still face full liability for fraudulent charges involving their name or account if specific conditions and requirements are not met. Most people think of Identity Theft as just credit card fraud and that it is a “victimless” crime. Identity Theft is not victimless, and it is most definitely not limited to financial matters or credit card fraud.
Just ask the businesses and merchants, who
have tens of billions of dollars in combined annual fraud and identity losses if
they think this a victimless crime. Or ask the employers who sufferthe losses of time and productivity because victimized employees must take countless hours
off work in order to report and dispute fraudulent activity in order to resolve their case.
As stated earlier, the average is 600 hours of a victim's time to correct the Identity Theft. The Electronic Fund Transfer Act (EFTA)In summary, the EFTA states:
Note: Check your statements every month!
Still think your information is SAFE! If you think your credit card company offers “zero liability” for fraudulent transactions involving their ATM and debit cards then you need to re-read the important exceptions outlined in the fine print of your cardholder agreements wherein certain types of transactions are specifically excluded from these protections. Consumers should carefully review their cardholder agreements to understand these exceptions and the possible impact on their personal liability for fraudulent transactions. MYTH: “To prevent someone from using your credit cards, you should never sign your cards and instead write “See ID”. Many people have undoubtedly heard this advice. The rationale behind this advice is that it provides increased security because a thief will not know how to sign the consumer’s name if he or she obtains an unsigned card. Though this advice might be well-intentioned, it is absolutely incorrect and can cause a consumer some significant problems if he or she follows it. The proper advice for a consumer is that they should sign all of their cards immediately, and write “See ID” or “See Photo ID”. There are two reasons for this:
Bear in mind that a signed card is still not a guarantee. Today there are a multitude of locations where an individual can use a card to conduct a transaction without any interaction by a clerk, such as the grocery store or gas station, for example. Also, remember that even with “See ID” on your card,
how many clerks actually request to see your ID card or compare the signature on the card to the signature on the receipt.
I could go on and on an on. I'm sure you get the picture. But if you want to know more about Identity Theft and how to protect yourself, your family or your business, then you must subscribe to my Free Newsletter. In the upcoming issues you will receive, you will learn about
Do You Own A Business?
Watch the above video from KY3 news regarding Identity Theft in the workplace. I also offer the Affirmative Defense Response System (ADRS) mentioned in the broadcast for Business Owners . Remember, estimates are that every 2-4 seconds an Identity is compromised. Why take chances? Why not protect yourself and your loved ones with the best suite of services provided (including restoration) by the best NYSE company in the field? Click here for my recommended 800 lb gorilla to protect your identity! (The link will send an email to my autoresponder. Just click send when it opens up - you do not need to add anything to the email. You will then receive an email to confirm your intentions to receive my recommendation. Just click on the link in the confirmation email.) Don't forget to Subscribe to the Free Newsletter NOW and receive a 48 page ebook entitled "Take Charge - Fighting BackAgainst Identity Theft. To view the table of contents of the book - click here. I am available in the Southern California area, at no charge, for speaking engagements for your Service clubs, Rotary, Lions, Elks... as well as Churches, Businesses, employee groups, Realtors or any other group or organization with the desire to learn more about Identity Theft and how to protect themselves, their families, their employees and their clients. For Speaking engagements outside Southern California, please contact me via email or telephone.
Joseph W. Nollet Jr. Certified Identity Theft Risk Management Specialist California Insurance Lic. No. 0F56360 P.O. Box 82 Nuevo, CA. 92567 (909) 208-3728 Note: The “@” symbol has been removed from the email address below to prevent automated email harvesting by spam-bots. joe (at) StopIdTheftCrime.com |
