Banks Are Responsible For Most Data Breaches This Year

November 30th, 2008

Data breaches are on of the major causes of identity theft today. Even if we do everything on our end to safeguard our most personal information, a data breach can be unavoidable. This year banks and financial institutions have been the source of most date breaches.
 
The Identity Theft Resource Center has reported that financial institutions were responsible for more than half of all the data breaches so far this year. On November 18th the data breach tracking agency stated that banks were responsible for more than half of 33 million personal records known to be lost in all reported data breaches so far this year. Last year bakes were only responsible for about 7% of all data breaches.
 
In 2007 the financial industry accounted for a percentage of the total data breaches. Other businesses, government and universities each accounted for about 25% of data loss incidents. But in 2008, thanks in part to major breaches at Countrywide, BNY Mellon, and GE Money, banking’s proportion of data leak incidents has increased.
 
These statistics may be the result of new laws in that require companies in many states to disclose data loss incidents, says the ITRC Director of Operations Rex Davis. He also believes that thousands of laid-off or disgruntled bank employees due to the financial crisis may be part of the problem. “They have access to the data, and they know how to use it,” says Davis. “Desperation is never a good thing.”
 
Twenty-four percent of all financial institutions’ data breaches this year were caused by insider theft, while 16% of other businesses’ breaches and 20% of government incidents were attributable to employees or former employees.

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ATM Skimming - What is It?

November 29th, 2008

ATM skimming is a method used for stealing your identity during an ATM transaction. This method utilizes a credit card skimmer to collect, record and store your credit card number and pin number. The person “Skimming” your card can then use this information to program his own credit card with your information!

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Credit Card Fraud - Don’t Get Duped!

November 28th, 2008

In a report compiled to look into the past years habits when it comes to banking and fraud has shown a dramatic up haul in the amount of fraud victims within the United Kingdom. In the year 2007 the losses we sustained topped £535 Million - a huge 25% more than 2006. Apparently the trends for this year are looking to be similar.

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Identity Theft Protection - Who Can You Trust?

November 27th, 2008

Identity theft protection services have only been around for the last few years, during which time, their aggressive marketing campaigns have raised awareness about a crime that has in fact swept across the U.S. at a rapid pace. Identity theft comes in many different factors, meaning it can happen to you in other forms besides credit fraud. Fraud prevention services emerged out of the need to centralize the monitoring and protection of personal records for consumers with sophisticated and state of the art technology to more accurately protect subscribers than they could if they were to implement these methods of identity theft protection on their own.

Out of the now dozens of available services that offer fraud protection, it’s going to be a little confusing for some to decide which identity theft protection service to sign up for in order to get the ultimate protection. Many of the security features are the same across the board. Services like, credit monitoring, fraud alerts, scanning of identity black markets, and opting you out of junk mail lists etc, are very common for most providers.

Let’s also be clear about something else, yes you can in fact take all of these steps above and secure your own identity, just know that it will take time and effort to do so and that’s the convenience of fraud prevention services. They automate all this to help you protect your identity and rid you of the burdens of doing so on your own, but they also offer security features that most consumers just don’t have the technical capability to perform as we’ll list below.

So who can you trust when it comes to choosing a fraud prevention company? There are a handful of providers that stand out of the circle of identity theft protection services. Trusted ID & Life Lock are among them and they are two of the biggest and most popular companies in the industry, and yes they too offer close to the same number of features with a few differences. Here are some of the most important ones.

Family plans - Any smart working professional who understands the importance of securing their own identity also understands how important it is to extend that protection to their family as well. From your spouse to your children, they should all be under the same protection plan and it should not mean a separate subscription for each. That’s why this is called a family plan. Unfortunately not all providers have an all family fraud prevention plan. Trusted ID and Identity Truth are two providers that do.

Medical Benefits Protection - Here’s another important security feature that’s yet to be offered by most identity theft protection service providers. This feature makes the service all that much more valuable because of the huge risk of medical identity theft. This type of identity theft can complicate your life to an extent for which there’s very little that can be done for you as the victim. The risks are high in this area and having this feature available in an identity theft protection plan can make all the difference. Currently Trusted ID is but one of a very short list of providers that offer this feature, other plans through less well known companies are also available but the costs are much higher.

Internet and Home computer security - Plans that do not include this level of security are just not adequate enough, if you like millions of Americans conduct research, work and business at home then you have to have some kind of protection on your computer system that can prevent trojans and spyware from infecting your computer and compromising your personal information. Trusted ID and Identity Guard are two such providers that offer this important feature.

Scouring the internet for your personal information - It’s important that consumers understand clearly that their information can be distributed across different channels on the internet and through other means by organizations and institutions they entrusted their information to. When these entities fail to protect this information properly, data breaches occur and the personal information of hundreds of thousands of individuals can be lost and exposed. When this happens, your information can end up listed for sale on financial black markets online. To protect your identity properly, you’d need to have a way to find your information online quickly before someone else does and take the proper steps to avoid being had by an identity thief. Without the adequate technology you won’t easily accomplish this on your own. That’s why just about all identity theft protection services employ state of the art technology to offer this important feature and alert you when your information is found.

The biggest benefit of outsourcing fraud prevention and protection of your identity to these companies is to simplify your life, keep you focused on your own affairs and give you peace of mind. Even when you take all the necessary steps on your own, and you should be, to protect your identity you can’t possibly cover yourself to the extent that these providers can. Trust in the systems established by these security specialists and should these systems fail to protect you, they will spend up to whatever designated amount in your policy is (typically between 20K and 1 Million) to help you recover and clean up your good name.

Need more help? Visit us at IdLockNetwork.com to download a Free Identity Theft Prevention Guide. If you need to start protecting your identity now, review our top Identity Theft Protection Services providers and begin automating the process to protect your identity today. Please take some time to study the content at IdLockNetwork.com and send us your feedback and questions. Remember that only you are responsible for your information, no one else can take proactive steps to secure it like you can.

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Identity Theft Monitoring - What You Can Do to Monitor Your Accounts For Signs of Identity Theft

November 26th, 2008

It is vital that you do all you can to protect your information from identity theft. You need to very closely monitor your back accounts and personal information. One of the easiest things you can do to protect that information is to shred all information that identifies you personally before you place it in the trash can. This is one of the most common places where criminals look for information they can use. Even those pre-approved credit card statements need to be shredded so someone else can’t turn them in to obtain a credit card in your name.

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Military Personnel and Families and Identity Theft

November 25th, 2008

As a member of the U.S. Military and away from your usual posting, you should consider placing an “Active Duty Alert” on your credit report. This alert will help to minimize your risk of identity theft while your deployed. A persons credit report contains the most vital personal information, including your home address, how you pay your bills, whether you have been sued, arrested or filed for bankruptcy. It is routine for banks, insurers, employers, utility companies and businesses to use the information in your credit report to evaluate your application for a mortgage, credit card, car loan, cell phone and much more. With you away, perhaps on the other side of the world, identity thieves have a perfect opportunity to use your personal information to open new accounts in your name. The thieves will most probably not pay the bills and the delinquent accounts show up in your personal credit report.

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How to Stop ID Theft This Christmas - What is Spyware and Malware?

November 24th, 2008

A lot of people associate ID Theft with having a wallet or a passport stolen. But do you know that a computer infected with adware and spyware computer programs is fast becoming the most likely way that your ID can be hijacked? and its malware that is often at the root of the malicious activity?

So How is it done?

Spyware finds its way over the Internet and infects your laptop or pc. This is how you can encounter spyware and other types of malware through various methods, including:

  1. Downloading files,
  2. Opening e-mail attachments
  3. Clicking on pop-up windows
  4. Visiting devious web sites, while operating quietly in the background, spyware collects information without your knowledge.

Spyware programs on your computer will monitor your Internet surfing habits and keyboard activity, it looks at the programs you use and collects your most personal data including your bank account login details, or your credit card details if making a purchase online and that can lead to credit card fraud and your ID theft.

Internet Danger

There are many different types of spyware threat, listed are some of the most prevalent types

Threat Categories - (each may have hundreds or even thousands of variants)

  • Spyware,
  • Browser Helper Object,
  • Trojan,
  • Backdoor,
  • Malware,
  • Trojan-Dropper,
  • Trojan-Clicker,
  • Rootkit,
  • Email-Worm,
  • Trojan-Proxy,
  • Data Miner.

Can I protect my computer from Spyware?

Thankfully yes, there are many spyware removal programs around, which scan your computer and report back to you what it finds, and will offer to remove any spyware. We have reviewed several programs that offer free trial scans and regular free updates.

Test your computer by taking a free spyware scan, we have tested several Anti Spyware programs that are able to tell you in fewer than 10 minuets how much spyware is on your computer. You can’t afford not to get protected please visit our site for more information

http://www.spyremover.optimized-webs.com

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Shield Your Identity

November 23rd, 2008

Identity theft is not a new problem however it is a rapidly growing problem in America. Over nine million Americans are victim to one or more forms of identity theft every year resulting in billions of dollars in losses to businesses and financial institutions. If it happens to you, it can take in excess of 250 hours and thousands of dollars just to clear your name and get your identity back. It only takes minutes to subscribe to a credit monitoring service, but do they protect you enough? We all see the commercials on TV for these services, but did you know they only protect you from one of the six forms of identity theft currently prevalent in America? Credit monitoring is a great idea, but what if someone steals your driver’s license information? That will not show up on your credit report. What if they use your identity to obtain medical services? What if they steal your character and try to become you? Criminals could even obtain documents with your name and use them to obtain passports. None of these things will show up on your credit report right away and maybe they will never show up there at all. However to the person who steals them from you they could accumulate substantial bills, gain access to places they are not supposed to be, or worse. What if they got a license in your name and used it to kidnap a child and run away. The only records relating to the disappearance would have your name on them, and you may never be able to completely clear your name once it’s plastered all over the news.

It is recommended that you review your credit report regularly. You can request one free credit report annually by writing to the credit agencies, however once a year is not enough to keep your credit safe. You can purchase your credit report, however those expenses can add up, and you would need to purchase it from all three agencies to be sure you catch everything. Subscribing to a credit monitoring service can save you money, but they still don’t protect you from the other five forms of identity theft. You should also take care to safeguard your information. Simply shredding documents with your name, address, or personal account numbers and cutting up your old credit cards could make a big difference. Just throwing them away is not enough as thieves can go through the garbage. Memorize your pin numbers instead of writing them down and keeping them with your cards.

All credit monitoring services get their data from the three credit reporting agencies. Some only get their information from one. Only one identity theft protection service offers you the benefit of having lawyers on your side to help you if this happens to you. With Prepaid Legal’s Identity Theft Shield you have 24/7 access to attorneys that you can ask any credit or identity restoration questions you have. You can do more to protect your identity for less money by joining Prepaid Legal and signing up for their Identity Theft Shield. As a member, if someone steals your identity you get the benefit of having licensed investigators and lawyers backed by Kroll, Inc to provide your restoration services at no additional cost as well as all the services provided by other credit monitoring services. This includes notifications when information on your credit report changes or new accounts are created, allowing you to know if someone is trying to use your identity. These services have the added benefit of informing you if someone you already do business with is pulling your credit report too often which could also be damaging when you try to apply for credit. No matter what happens or how someone tries to use your identity, they will help you get it back and clear your good name. That’s 250 hours and thousands of dollars you won’t have to spend.

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Hate Junk Mail? Want a Higher Credit Score? Identity Theft Concerns? Read On

November 22nd, 2008

Did you know that identity theft many times starts at your very own mailbox? If you are concerned about the possibility of identity theft , the impact on the environment; or simple hate dealing with excess paper there  is an easy thing you can do to stop the flow of unsolicited credit card offers.   Many people don’t know that you can simply elect to opt out from receiving ALL unsolicited credit card offers. 

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Applicants Must Proceed With Caution When Searching For Their Next Job Opportunity

November 21st, 2008

I can remember after college when I would apply for jobs online and think nothing of it. The mere thought of having my identity stolen while trying to pursue a career didn’t even cross my mind! As we all know by now, identity theft is nothing new and is rapidly getting worse. Each year, millions of people cope with having their identities stolen. Not only do we have to be concerned about the information on our resumes, but also our CVs.

Most job seekers take a huge risk when searching for work. Most are so eager to start making money that they open themselves up to identity theft simply by providing more information than required. Criminals need just three out of fifteen key pieces of information to commit identity theft. The average CV contains eight pieces of personal data.

Many unwary job applicants are fooled by fake job postings that exist primarily to steal their identity. Millions of job-seekers carelessly post their sensitive personal information online. Criminals can use this information to wreak havoc. Educate yourself as much as possible so you know what to look for before it’s too late!

Below are some tips to remember when applying for work:

• Be wary if the email address does not contain the name of the company but just the name of a service provider.
• Take extra care when accessing personal information when using public computers, such as those in internet cafes, or when using a laptop in a WiFi hotspot.
• Shred or destroy old copies of your CV.
• Rather than using a traditional CV, think about using a free online CV service that helps safeguard your personal details.
• Use a phone masking service to protect your personal number.

Think about whom you share your career information with, make sure they are a real business and when posting your information to the web or on a job board database, remember to use an Internet Safe CV. Adhere to the following to ensure your safety:

• Do not include your date of birth.
• Do not include your marital status.
• Do not include your place of birth.
• Only give your first and last name.
• Use a telephone masking service so you don’t publish your private phone numbers.

Avoiding fraudulent postings will also help to save you the headache of becoming a victim during your job hunt. Many types of job postings are well-known scams. You should be wary of postings that advertise jobs for courier services and envelope stuffing. Jewelry making job openings should also raise a red flag. Similarly, applicants should be cautious about postings for overseas jobs. While they can potentially lead to valid employment opportunities, many of them have been designed to lure unsuspecting job applicants. Their goal is often to tempt job-seekers into providing their social security numbers, driver’s license numbers and even bank account information. Unfortunately, doing so can expose them to identity theft.

Keep an eye out for the following while searching for that next job opportunity:

1. Avoid providing sensitive information to potential employers until you’re convinced that a job opening is authentic. This can be extremely tricky for the mere fact that the scammers are becoming more and more sophisticated. According to Craigslist, many identity theft scams that have appeared on their website involve one or more of the following: an inquiry from someone far away, often in another country; use of companies that wire money, cashier’s check, money order, escrow service or similar instrument; and, a refusal by the other party to meet face-to-face before consummating a transaction.

2. If you’re unsure about a job posting, ask for references and check them. I would think the employer would appreciate the fact that you’re looking out for your best interest and are aware of the problems of identity theft. I believe this shows that you’re somewhat educated and not so eager to rush into something that you’re not 100% confident about. Legitimate companies will not ask you to provide or verify sensitive information through email.

3. Do some due diligence. Try to determine how long the company that is advertising a position has been in business. Find out if there are any complaints that have been filed with the Better Business Bureau.

4. Get every promise in writing before moving forward. I know all too often we get overly excited about a new job offering and want to send out our new hire information as soon as possible. A reputable company will always have agreements in writing; it’s nothing short of being professional and legit and will put your mind at ease once verified.

5. Protect your references to the best of your ability. It is best not to include names and contact information for references on your resume, which could potentially put personal or professional contacts at risk. Typically employers do not need this information until after the interview.

6. Create a separate email account dedicated specifically for your job search. This will help protect your privacy, as well as keep track of job search correspondence and applications.

Having your identity stolen while looking for a job can be devastating. But, if you avoid common job posting scams and take a few precautionary steps, you can avoid becoming an identity theft victim. You can then pursue legitimate job opportunities with reliable employers. Think about the information a potential employer needs to find your details, you can share your full CV at a later stage when you are comfortable with the identity of the company or person you are sharing the information with.

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