The risks for identity theft are everywhere you turn. Your mail, your computer, your credit cards, even your trash; all present opportunities for criminals to gain access to your personal information. To prevent identity theft, you must constantly be aware of the ways that criminals will use to gain access to your personal, identifying information.

Computer Scams

One place that identity thieves often focus their attention is on your computer. Web sites and emails can put you at risk for identity theft. Learn how to recognize the most common computer-based scams.

Real World Scams

Most people associate identity theft with computer crimes, but in truth more than half of identity theft happens in real world situations.

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Point of Threat: Credit Cards

Identity theft and credit card fraud are not the same crime, though the two are often lumped together as one. Identity theft is much more far-reaching than credit card fraud. When a criminal steals you identity, they may have financial motivation, but you’ll suffer more than fraudulent charges on your credit cards.

Identity thieves may change account information, create new accounts, use your identity to commit crimes, and even use your identity to establish a new life. Credit card fraud, on the other hand, is limited to charges on stolen credit card numbers. A criminal gains access to your account number and then uses it to purchase products online or in person and then resells those goods to get the cash.

So, if credit card fraud is not identity theft, why address it? The simple answer is because credit card fraud can be an element of identity theft.

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Are the tides turning that quickly?  Just last week it seemed that hackers had the upper hand and law enforcement, major companies and government agencies all had pie on their faces.  And now with LulzSec calling it a day, and even more arrests happening, it seems that the day of reckoning has already come?

Although not involved with the latest ‘hacktivism” trend, one notorious hacker who actually used his talents to loot consumer bank accounts, is facing 13 long years in prison.

According to PC World, Kenneth Joseph Lucas II, of Los Angeles, was one of a total of 100 people arrested by Egyptian and U.S. autho

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Definition:

Synthetic identity fraud is a method of identity theft in which criminals alter personal information for the purposes of gaining access to a consumer’s credit card or banking information.

Criminals commit synthetic identity fraud by altering some aspect of a consumer’s information. For example, a criminal might change a date of birth or a Social Security Number by one digit. The credit reporting agency recognizes that information as belonging to the consumer, but assumes a typographical error has been made in entry. Since it’s common for these types of errors to occur, credit or banking accounts can still be granted or accessed using this faulty information.

Often synthetic identity fraud goes unrecognized because incorrect information is often stored in a separate (but linked) credit information account with the credit reporting agencies.

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It happens every day. Now it’s happened to you. Your wallet was stolen, and you’ve lost your driver’s license, credit cards, ATM card, Social Security card, library card, and all the pictures of your kids. You’re worried about identity theft. What do you do?

Contact your bank immediately. An ATM/debit card often has a VISA/MC logo, so it can be processed like a credit card, but the money comes out of your checking account. You can dispute fraudulent withdrawls with your bank, but you only get the money back if their investigation goes your way – and that can take 60 days or longer.

If you had a check or deposit slip in your wallet/purse, open a new account and move your money. Talk with the bank manager. Let them know what has happened. You’ll find they can help a lot.

Contact your credit card companies next. Credit card fraud is a common form of identity theft.

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Welcome to the Monday Morning News Kick Off post from the ITAC blog. All we can say is wow. The ITAC blog (like many) typically take the weekend off its a good time to rest up and prepare for the work week ahead. Though, it seems that this weekend was THE weekend to be plugged into the data breach news cycle. The IMF experienced a breach, the Turkish government made some major arrests, and (we knew this was coming) Spain was targeted by Anonymous. Thankfully we have pulled together all of these stories for you in one convenient location. Happy Monday!

Join the Club: International Monetary Fund Gets Hacked The International Monetary Fund now joins Citibank, Sony, Nintendo and other high profile targets as the latest victim of an attack by hackers. This is all starting to seem just a little ridiculous.

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