Identity Theft by Phishing
Stealing Your Life: The Ultimate Identity Theft Prevention Plan
by Frank W. Abagnale

Stealing Your Life is more frightening than a gory murder mystery. Any one of us, from cradle to grave, is vulnerable to a swindle that can wreck us emotionally, cost us serious money, ruin our credit ratings, and take us years to straighten out. Identity theft is here to stay, and as long as legislators, businesses, law enforcement agencies, and individuals fail to take it seriously, the number of victims will continue to climb.

For thirty-two years, the author has been a law-abiding citizen; his criminal past, famously recounted in the book and film "Catch Me If You Can," is a distant memory. However, he knows how crooks think, and this knowledge has led to a lucrative career as a consultant for the FBI and corporations all over the world in preventing frauds and scams. Abagnale is horrified at how easy and tempting identity theft is for the budding criminal. He calls it "a crook's dream come true."

     

Identity Theft by Phishing

Online Billing Identity Theft

Identity Theft by Phishing * Online Billing Identity Theft

Online Billing: The Dangers of Identity Theft   
Jeff Downs

The phrase "identity theft" causes a shiver to go up the spine and eyes to bug out with fear.

True, identity theft happens today; however, not from the most commonly blamed source.

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Bogus Tweet Fears Dog AFL (Herald Sun)
PLAYERS have been urged to report fake Twitter accounts as internet identity theft continues to dog the AFL.

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In fact, identity theft is 10 to 1 more likely to happen from another source other than the source which is most commonly blamed. "What is the most common source for identity theft," you ask? Not from where you might think.

Do a straw poll and ask your friends, neighbors and fellow countrymen. Ask them what is the most common source for identity theft, and answer they will...THE INTERNET! All I have to say is THEY ARE DEAD WRONG!.

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Symantec Reports Surge In Phishing Attacks (vnunet.com)
Shaun Nichols in San Francisco, V3.co.uk , Friday 12 March 2010 at 02:23:00 Localised attacks on the increase, says security giant February saw a dramatic rise in phishing attacks and the use of current...

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If not the internet then where is the most common source for identity theft? Before I answer let me share with you some interesting information about the internet, online billing and other transactions.

Elliott C. McEntee, President and Chief Executive Officer of NACHA, said, "It is fine to use your checking account information on the Web or over the phone to pay bills or to pay companies you know and trust. But you should safeguard your checking account information, just as you would your address, phone number, Social Security number, and other account numbers."

McEntee also noted, "Consumers have better protection with electronic payments than they do when using paper checks. There are federal regulations that provide consumers with substantial protection against unauthorized electronic debits to their checking accounts. There are no comparable federal regulations for checks."

Noted e-commerce analyst James Van Dyke of Javelin Strategy & Research says that, counter to popularly held opinion; consumers that use online banking and bill payment services actually reduce their vulnerability to identity theft and unauthorized withdrawals. Javelin's number one consumer tip to protect against identity fraud is "Eliminate High-Risk Paper."

According to Van Dyke, "Receiving and paying bills online helps prevent identity theft. By viewing and paying bills and statements online, consumers and businesses eliminate one of the most common means of identity theft-stealing personal information contained in bills, bank statements, and credit cards that are delivered to a person's mailbox, or in the signed, outgoing check used to pay the paper bill. The information can be more easily obtained in the physical world than via secure sites such as a bank's Web site." (Quoted from Javelin Strategy and Research news release of October 2, 2003.)

You may say that this information is old and many more people are online today then when they were in 2003. Okay I will give that to you; however, take a look at this next quote.

"Our numbers clarify four key misperceptions about identity fraud," says James Van Dyke, Javelin's founder and principal analyst, who oversaw the Identity Fraud Survey Report for the second consecutive year. "Most importantly, people are not helpless in protecting themselves from identity theft. Contrary to popular belief, consumers do not bear the brunt of financial losses from identity fraud, Internet use does not increase the risk of identity fraud; and that seniors are not the most frequent targets of fraud operators. Our findings will help people learn about specific important steps they can take to better protect themselves. (Javelin Strategy and Research 2006 Identity Fraud Survey Report)"

So where then do identity thieves get their information? Following is what Javelin found:

"Most data compromise - 90 percent - takes place through traditional offline channels and not via the Internet, when the victim can identify the source of data compromise.*

"Lost or stolen wallets, checkbooks or credit cards continue to be the primary source of personal information theft when the victim can identify the source of data compromise. (30 percent).*

"Almost half (47 percent) of all identity theft is perpetrated by friends, neighbors, in-home employees, family members or relatives - someone known - when the victim can identify the perpetrator of data compromise.**

"Nearly 70 percent of consumers are shredding documents, so that trash as a source of data compromise is now less than 1 percent. (Javelin Strategy and Research 2006 Identity Fraud Survey Report) "

A quick story...

My father was the biggest opponent to online presentment and payment of bills. His main reason was the opportunity for someone to steal his identity. After several long conversations and pleadings for him to try online presentment and payment or EBPP he gave it a try. He is now singing the song of EBPP and telling everyone that they should get online billing solutions. He also sits on the board of a major bank and has been asking them to not only provide bill payment, but also bill presentment, by the way, my father is a baby boomer.

So need you be concerned about theft of your identity from internet sources? I will let you look at the facts and answer yourself, but if I were you I would be more concerned about where you put your wallet and who in your family has access to it. By the way . . . have you seen my car keys?



Jeff Downs is an experienced billing solutions specialist and an expert in electronic billing strategies and solutions. He helps companies slash the cost of billing by using industry best practices. Learn more at http://www.bestpracticesystems.com

Index of Articles about Indentity Theft

What Other Authors say about Indentify Theft

Identity Theft: The Perfect Victim - Your Child by Brenda Mohney

Many of us work hard to protect our identities, but fail to think about protecting the identities of our children. The fact that they are underage gives us the impression that children's identities are...

Under Which Type of Identity Theft Are You Most Vulnerable? by Carl LaFresnaye

No mater the type of identity theft, the object of the thief will always be to impersonate you by using your personal data and identifying documents to steal your money and resources, leaving you with...

Identity Theft by Sara Chambers

Identity theft is a growing problem in the United States, occurring in small towns and cities alike. Identity theft, as defined by the federal government, refers to the use of another person's identity...

Identity Theft Protection - Practical Ways to Stay Safe by Carl LaFresnaye

Sadly, many Americans only think of identity theft protection once they've been victimized. In the unfortunate tradition of closing the barn door after the horse has escaped, many of us install Firewalls,...

Computer Identity Theft - Go Phish! by Carl LaFresnaye

One of the most popular computer identity theft methods today is phishing. Spelled in true hacker fashion, phishing means, well, fishing by baiting people to divulge their personal data. This mode of computer...

Have You Heard a Famous Identity Theft Story Lately? by Carl LaFresnaye

An identity theft story can involve ANYONE. If you think that only unsuspecting housewives, too harassed by the many chores they have to get done with children in tow, would fall prey to identity thieves...

Thieves of Identity by Tony Robinson

Thieves come in all forms, including dressed in business attire, sweats, or tuxedos. Identity thieves are government reps, bankers, religious leaders, famous persons, homemakers, cops, lawyers and so forth....

Identity Theft Statistics - Where Are You Most Vulnerable? by Carl LaFresnaye

If identity theft statistics tell us anything, it's that the more technology advances, the easier it becomes for identity thieves to wreak havoc. In California, for instance, the hotbed for counterfeiting...

Identity Theft: The New Technology Crime by Robert Ing, DSc, FAPSc, CPO

Identity Theft in the Western World has increased dramatically since the beginning of the millennium and has replaced credit card fraud as the new number one technology crime. What It Is. Identity...

How to Repair Your Credit if You Are the Victim of Identity Theft by John Campbell

If youre ever a victim of identity theft you will need to take immediate action to repair the damage done. Depending on how long someone may have stolen your identity, the damage could be more extensive...

Identity Theft : Fastest-growing Crime by Michael Sanford

Identity theft is quickly becoming one of the most prevalent forms of crime in the country, with approximately 10 million victims a year. Cases include impostors using someone's credit card number to make...

Identity Theft Prevention Tip - Stop the Thief in His Tracks! by Carl LaFresnaye

Perhaps the most practical identity theft prevention tip is discovering just where your lifestyle and habits are most vulnerable to attacks. If you can stop a thief in his tracks, it will save you loads...


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