Identity Theft And The Internet

LexisNexis, a provider of personal and financial data, recently reported that the personal information of as many as 310,000 people nationwide may have been stolen. This figure is nearly 10 times higher than the original figure disclosed last month by the company. ChoicePoint Inc., another consumer data collection service, stated 145,000 people in their database were possibly exposed to identity thieves earlier this year. At DSW Shoe Warehouse, officials acknowledged stolen credit information at 103 of its 175 stores nationwide. Hackers have also targeted databases at California State University as well as the University of California, San Diego.

Many consumers now fear that using the internet puts them at a higher risk of identity theft. However, surveys have shown that only 10 percent of known identity theft cases have resulted from online fraud. Dumpster diving along with phone scams account for far more ID theft than the internet. View your banking and credit accounts online. Almost all banks and credit card companies have secure web sites that allow you to view your statements and activity safely online. Secure sites are those that begin with https// or display a padlock icon on your computer screen.

NEVER access a financial site through a link embedded in an e-mail message. E-mails with links asking you to verify or re-register your personal information are a sure sign of “phishing”, a scam to collect your name and other identifying information to steal your identity. Instead, type the bank or creditors website address into your browser. Check your accounts every two weeks.

Verify that the credits and debits shown on the statements are valid. Report any suspicious activity immediately to your bank or creditor. Monitor your credit report. The main reason for stealing your identity is to open new credit accounts to purchase good and services using your name and stolen identity.

Chances are that you wont know youre an ID theft victim until youre denied credit or you receive bills for accounts you never opened. If an ID thief has opened accounts in your name, they are most likely to appear on your credit report. There are three major credit reporting agencies; Equifax, TransUnion, and Experian. New legislation allows you to obtain your credit report annually from all three of these agencies for free.

This new program is being phased in gradually across the U.S.. Use credit monitoring services. A variety of paid services are available that will monitor your credit reports for activity and alert you to any changes. As with any product or service, make sure you understand what you're getting before you buy.

This monitoring service checks your credit report daily to notify you about fraudulent activity, new inquiries, new accounts, late payments, and more so you can spot possible signs of identity theft. 9.95 monthly unless you cancel the service. If you become a victim of ID theft, your opportunity for loans, jobs, or even housing could be affected. Taking immediate action after being victimized can minimize the damage.

This is especially true of children, since child identity theft occurs frequently. It is a crime committed by unknown thieves, relatives, friends, or even by a child's own parents. Children are especially vulnerable to identity theft because they don't have credit histories at all. Creditors prefer a person without any credit history than deal with a person that has bad credit history.

Their identities are targeted because thieves could use their identities a few days after their birth until they reach 18 years old. The elderly are also exposed to identity theft. Their loved ones or primary caregivers may be the ones to steal their identities for financial gain. Old people don't report such things because they're afraid that their families will commit them in an institution.

Being able to protect your identity will keep you from losing your good credit line or your bank account. You can do this by acquiring a credit protection service. This service will send you alerts if there are sudden changes in your credit card account. The prompt alerts will enable you to place a security freeze in your credit files so that they could not be tampered with again.

A fraud alert could also be activated so that new credit applications in your name may be slowed down. The alerts that you receive from your credit protection provider will help you stop the identity thief from stealing more from you. If you have effectively protected your child's identity early on, then there won't be any problems for them during the college years.

He would immediately be approved for student loans and student credit cards. There will always be emergencies when you have a medical condition. When protection against identity theft is performed efficiently, you won't have to worry about not being covered for your medical needs. Protection from identity fraud will surely help you maintain financial credibility. It's an ongoing war against id fraud and you need to make sure that you and your family are on the winning side.