Identity theft and fraud Essay Example for Free

Identity theft and fraud judgeIdentity theft and reference poster fraud argon two of the fastest growing innocence collar crimes in society today. Identity thieves and credit bug fraud perpetrators are aided by todays continu entirelyy developing technologies and low technology and crude methods like Dumpster diving or trash retrieval. However, more(prenominal) often than non, it is their victims own automobileelessness and public lack of awareness that often turn emerge to be these criminals biggest ally. On November 2007, the Federal Trade Commission (FTC) released a report that specify the number of cases of Identity theft reported in 2005 at 8. 9 million American adults or approximately 3.7 percent of the US adult population. (FTC Releases Survey of Identity Theft in the U. S. Study Shows 8. 3 Million Victims in 2005) What is Identity theft? By definition, identicalness theft is what happens when someone other than ones self and without their knowledge uses his /her face-to-face information such as social security and credit eyeshade numbers. With this information, it is easy for thieves to run up bills by ordering items on line or even apply for credit tease in the victims crap. They of course get the benefit of spending while their poor victim is left with stacks of bills for purchases they did not make on card game they do not own.Some of these victims pay even gone to put away and made to pay up debts they were not even aware existed (Identity Theft How to, 24. ) There are a number of ways by which identity thieves and credit card frauds can victimize unsuspecting and diligent citizens. The growing number of reports of instances where people are penalized for bills and pecuniary charges they were not even aware of is alarming. What is even more alarming however is very few people are aware of how such incidents may be prevented by simple common sense measures.Detroit based Attorney and president of the American Bankruptcy imbe d Richardo Kilpatrick stresses the importance of quick action saying that the longer the victim waits to dispute bills raised through fraud, the less rights they can expect to have. If not done properly, victims may be made responsible for the credit card charges. (24) To avoid credit card fraud and identity theft, the FTC along with other law enforcement and consumer advocacy groups root on the following common-sense guidelines (Facts for Consumers) to protect themselves from identity theft and credit card fraud1. Keep your credit card in sight every time you use it. start out sure it is returned as quickly as possible. Unscrupulous people may easily write down your card number as easy as other pertinent information found on your card. There are also electronic devices called skimmers (Shannon) that can not single read and copy card information embedded in the card game magnetic strip but also the verification codes that are needed by merchants to validate cards electronically from the issuing card companies.All the data downloaded by the skimmer are all a card counterfeiter needs to produce perfect duplicates of credit cards. 2. Keep identification, licenses and credit cards start from your wallet. In case you are out shopping and your wallet gets snatched, at least your Ids and credit cards remain safe. Jason King, a spokesman for the American Association of Motor Vehicles Administrators (AAMVA) says that there are many ways an identity thief or common burglar may use a stolen drivers license and credit card. memory access to someones drivers license, for example, leads to an amazing number of other opportunities in our society, he says, such as obtaining fiscal and health services, and everything else from letting a car to cashing a check and boarding an airplane. (Boulard) In a case cited in the US Department of Justice web site, a woman in the Southern District of Florida plead abominable to counts of federal charges on her applying for an obtain ing a drivers license in the name of her victim.The said license was used by the woman to withdraw more that $13,000 from her victims bank account as well as applying for and receiving five surgical incision store credit cards in her victims name which she the used to rack up bills amounting to $4,000. (Identity Theft para. 16) In some cases, where ID cards have been stolen, thieves have been known to break into the homes of their victims stealing from them a second time. 3. overlook emails that request for credit card information for verification purposes. Never entertain e-mail messages asking you to go to a web site to verify your in-person and credit card information. There is a kidnap called phishing where computer-savvy identity thieves construct mirror web sites of legit companies such as PayPal or banks, that trick customers into divulging their personal and financial information. (OSullivan) 4. Sign credit cards as soon as you receive them. 5. Shred and dispose all credi t card applications you receive in the mail. If thieves can get these applications it means they could also have gotten or have access to mail containing your personal information.Some thieves also resort to low-tech and old forge methods such as swiping mail from mailboxes, diving through trash cans and dumpsters, or working in conference with employees of postal and card companies. At times, they also work with employees at restaurants, hotels and establishments that accept credit card payments warns insurrectionist May, an independent security consultant and author of Johnny Mays Guide to Preventing Identity Theft How Criminals Steal Your ain Information, How to Prevent it, and What to Do if You Become a Victim (Security Resources Unlimited L. L. C.) (Young) The FTC also advises bank clients to tear up the change of address forms that come with bank statements. In some cases, mail, pre-approved credit cards and other financial documents have been diverted by identity thieves to another address simply by filling out the banks change of address form that they dug out of your dumpster. 6. Never write your PIN numbers on ATM and credit cards. Once the card is stolen, the readiness of information on the card will just now make it easier for thieves to bypass whatever validation or verification processes done by the card companies.When it comes to it, dont put slips of paper containing these PIN numbers in your wallet either. 7. Avoid leaving credit card receipts, bills and documents containing personal and financial information lying around even in familiar surroundings. In the magazine hold Stolen Lives Identity Theft Is the Countrys Fastest Growing Crime. Heres How to Protect Your Most Valuable Asset-You by Stephanie Young, she details the be of Tahira Scott who was victimized by her housemate who was also her cousin. We started getting bills in someone elses name. Then two employees from a car dealership came to Scotts job to see if the person who had tried to purchase a vehicle in her name was actually her. Although she was a little suspicious, Scott says she had no idea about her cousins misdeeds. I just thought it was a mis seduce, she says. (Young) 8. Keep an updated record of all bank and credit card account numbers with their expiration dates. Make sure that you also take note of the address and contact numbers of the bank and issuing card company just in case your cards get misplaced or stolen.There are people who realize that they cannot report credit card theft or losses simply because they have no record of their account and card numbers. 9. When using your credit card in public, it is better to be paranoid and shield your card from other peoples view just in case they manage to take pictures of your card face with all the info and numbers counterfeiters need. 10. Never carry around more credit cards than you need. The more cards a thief can get from you, the bigger the sleeps they can spend.11. Do not delay opening yo ur credit card bills. This may be crucial in ascertain whether you can still contest the charges made on your card. In my friend Brians case, his parents were away for months and therefore only got to open the bills when they got back. By then, it was too late to do anything but pay up or else jut out marks against their credit rating. 12. Keep receipts of purchases made with credit cards. That way, it will be easy to balance out credit card bills with purchases made.Any charges made without corresponding hard copies of receipts may contend a call to the card company to verify the charge. Always keep tracks of your monthly financial statements. The spring why most thieves get away with their activities is because some people just do not take stock the monthly statements from their banks and credit cards. 13. Never sign a blank credit card receipt. If such a receipt is presented to you, draw a line on the blank spaces to make it impossible for anyone to fill in amounts later on. Do not just sign anything absent-mindedly.As with contracts, signatures mean approval. And unfortunately, carelessness is not an unimpeachable reason in disputing bill payment collections. 14. Do not be taken in by calls from people offering prizes or credit cards with higher limits when they start asking for personal information. kindly Security numbers, birthdays, mothers maiden name or credit card number, it is most likely a hook to get information out of you. Try to ask for a written application form or notice. Do not do over-the-phone transactions with people offering these kinds of things.