Sadly enough, hurricanes aren't the only force of nature that disaster victims need to be on the look out for. Apparently identity thieves are also interested in tearing your life apart and leaving you in shambles.
Today, MarketWatch picked up a piece the FTC has put out warning victims of hurricane Ike and those who would like to contribute to the relief for those victims to be on the look out for scam artists, home repair scams and fake charities, all wanting your money.
It certainly is admirable that the human side of us desires to contribute to relief funds intended to help victims of natural disasters. And those willing to do so should continue their efforts, and are to be commended. Identity theft is a devastating force in its own right. But targeting people trying to get their lives back in order, or those willing to help in such efforts is certainly demonstrative of subhuman behavior.
Don't be fooled by these creeps. Before you generously donate money to any charity or relief effort, do your homework. The article referenced from MarketWatch has links to a list of precautions that consumers should take when desiring to aid those in need. If you suspect that a charity is fake, or if you have become a victim of fraud or identity theft, contact the FTC and look immediately into getting identity theft protection, if you don't already have it. Even those who are already victims can get further protection and be eligible for recovery efforts. You don't have to do it alone.
Wednesday, September 24, 2008
Monday, September 15, 2008
FTC Mandating Identity Theft Programs
The Stanley News and Press is reporting today that the FTC is now requiring municipalities to implement identity theft programs. The reason? Apparently utility companies and other similar municipalities are ranked third in the list of identity theft targets. Read the full story here.
This really seems to be more of an attempt to enforce compliance with the Red Flag Rules then anything. From the Merchants Information Solutions Red Flag Rules web page we can learn that the red flag rules are an initiative put in place by the "Fair and Accurate Credit Transactions Act (FACTA), Section 114 which states that all financial institutions and creditors must have a written plan to prevent, detect, and mitigate identity theft in relation to its new and existing covered accounts by November 1st, 2008."
When you think about it, it really just makes sense that the municipalities also take the same initiatives as the financial institutions. After all, to open an account with your local power company they want your name, address, phone number, social security number and many other pieces of personal information. Is it any wonder they are the number 3 target? This really is good news for us all.
Merchants' SmartIDentity+ line of identity theft products will help support your company's efforts to comply with these rules. Take a look at how we can help your company today and beat the November 1st deadline.
This really seems to be more of an attempt to enforce compliance with the Red Flag Rules then anything. From the Merchants Information Solutions Red Flag Rules web page we can learn that the red flag rules are an initiative put in place by the "Fair and Accurate Credit Transactions Act (FACTA), Section 114 which states that all financial institutions and creditors must have a written plan to prevent, detect, and mitigate identity theft in relation to its new and existing covered accounts by November 1st, 2008."
When you think about it, it really just makes sense that the municipalities also take the same initiatives as the financial institutions. After all, to open an account with your local power company they want your name, address, phone number, social security number and many other pieces of personal information. Is it any wonder they are the number 3 target? This really is good news for us all.
Merchants' SmartIDentity+ line of identity theft products will help support your company's efforts to comply with these rules. Take a look at how we can help your company today and beat the November 1st deadline.
Phishing for Job Seekers
These days, a lot more folks are paying attention to what jobs are appearing on job boards. Many are out of work and looking for their next job, while others are looking to improve their position. Whatever the reason, it is important to know with whom you are dealing.
I was reading a story from earlier this summer about some folks who did not pay close attention. The victims in this story were duped into believing that there were searching for jobs on Craigs List when, in fact, they were transacting instead with sophisticated identity thieves from Latvia.
The scam succeeded in getting the victims to divulge their Social Security numbers, dates of birth, and other personally identifying information. The victims were told that the hiring company required this information in order to perform background checks.
Once the scammers had the information, they then wired money from russian bank accounts into the personal accounts of the victims. The victims, once funds were received, were instructed to wire the funds into specific accounts (which corresponded to the brokerage accounts the scammers had established). The scammers then proceeded to manipulate the prices of some thinly traded securities and make a handsome profit.
This was a sophisticated attack in that the victim was not the target of the attack but rather a means to the end. The real goal was to manipulate the price of securities. The identity theft victims provided the mechanism of generating apparently legitimate securities transactions. In some cases, the victim was attacked directly as the victims identifying information was used to tap funds the victims had in existing brokerage accounts.
Finra suggests six things to help keep yourself safe. They are:
- Be suspicious of anyone asking for your personal information
- Know who you are doing business with
- Don't Respond to Emails Requesting Personal Information
- Ask questions
- Order a copy of your credit report
- Review your account statements
We support these suggestions as prudent and wise. We further suggest that you get your credit report copy from Merchants through our SmartIdentity program. Where you'll not only get a copy of your credit report, but also a credit score and monthly monitoring of your credit profile.
I was reading a story from earlier this summer about some folks who did not pay close attention. The victims in this story were duped into believing that there were searching for jobs on Craigs List when, in fact, they were transacting instead with sophisticated identity thieves from Latvia.The scam succeeded in getting the victims to divulge their Social Security numbers, dates of birth, and other personally identifying information. The victims were told that the hiring company required this information in order to perform background checks.
Once the scammers had the information, they then wired money from russian bank accounts into the personal accounts of the victims. The victims, once funds were received, were instructed to wire the funds into specific accounts (which corresponded to the brokerage accounts the scammers had established). The scammers then proceeded to manipulate the prices of some thinly traded securities and make a handsome profit.
This was a sophisticated attack in that the victim was not the target of the attack but rather a means to the end. The real goal was to manipulate the price of securities. The identity theft victims provided the mechanism of generating apparently legitimate securities transactions. In some cases, the victim was attacked directly as the victims identifying information was used to tap funds the victims had in existing brokerage accounts.
Finra suggests six things to help keep yourself safe. They are:
- Be suspicious of anyone asking for your personal information
- Know who you are doing business with
- Don't Respond to Emails Requesting Personal Information
- Ask questions
- Order a copy of your credit report
- Review your account statements
We support these suggestions as prudent and wise. We further suggest that you get your credit report copy from Merchants through our SmartIdentity program. Where you'll not only get a copy of your credit report, but also a credit score and monthly monitoring of your credit profile.
Tuesday, September 2, 2008
Feds Getting Tougher on Identity Thieves
It seems that the Federal government is taking more aggressive measures against identity thieves. A new law carries a mandatory two-year sentence for anyone convicted of identity theft. Of course this two-year term is mandatory, but is not the maximum. Identity thieves can still receive more jail time if convicted of identity crimes. But, this new law gets these villainous parasites off the streets no matter how insignificant the dollar amount.
I think this is a good call. Fines alone do not deter identity theft and do not make those who suffer from this type of crime feel as though justice is served. When someone ruins your good name and takes your hard earned money, you want justice. Just ask the innocent 96-year old victim in this story. Aside from getting her money back, I'm sure this poor lady would like to get a significant portion of this jerk's posterior. Let justice be served!
Credit and identity monitoring may have helped the victims of these stories identify problems earlier. Merchants Information Solutions can help provide you with this sort of coverage. We'll monitor your credit and identity and send you email alerts whenever any suspicious activities occur. Furthermore, a recovery advocate will work on your behalf to restore your good name to its pre-event status, no matter how long it takes. And, with up to $25,000 in reimbursement insurance coverage, you can rest easy knowing that your out-of-pocket expenses are covered throughout the recovery process. Learn more about our identity theft protection and recovery solutions today by clicking here.
I think this is a good call. Fines alone do not deter identity theft and do not make those who suffer from this type of crime feel as though justice is served. When someone ruins your good name and takes your hard earned money, you want justice. Just ask the innocent 96-year old victim in this story. Aside from getting her money back, I'm sure this poor lady would like to get a significant portion of this jerk's posterior. Let justice be served!
Credit and identity monitoring may have helped the victims of these stories identify problems earlier. Merchants Information Solutions can help provide you with this sort of coverage. We'll monitor your credit and identity and send you email alerts whenever any suspicious activities occur. Furthermore, a recovery advocate will work on your behalf to restore your good name to its pre-event status, no matter how long it takes. And, with up to $25,000 in reimbursement insurance coverage, you can rest easy knowing that your out-of-pocket expenses are covered throughout the recovery process. Learn more about our identity theft protection and recovery solutions today by clicking here.
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