In the spirit of National Consumer Protection Week, I encourage all our guests to invest a few minutes to learn about the different types of identity theft protection programs that are available. The economy is still tight, so the more you know about what your program will (and more importantly won’t) do for you, the easier it will be to decide if it’s a good use of your money.

The Better Business Bureau also recommends six key questions to ask when buying identity theft protection.

Know What You’re Buying originally appeared on About.com Identity Theft on Wednesday, March 10th, 2010 at 00:01:06.

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The reason Visa has decided to open this program is that not requiring a signature on small transactions can increase the speed of checkout at retailers. The program has been used on a limited basis since 2003 and a Visa company spokesman said there was not an increase in identity thefts as a result of that implementation. That is why Visa believes an expansion of the program should not add to the identity theft problem.

Not everyone agrees though. The accounting firm of Sklar, Heyman & Co. has a fraud and financial forensics division. Jeffrey Sklar says that consumers are more vulnerable to identity theft when signatures are not required on purchases. Many retailers compare signatures on receipts to signatures on credit cards to validate the card user. In addition, another piece of ID is requested. This greatly reduces the opportunities for identity theft.

Mastercard has a similar program called Quick Payment Service Program. It has been in operation since 1991 and the list of retailers includes grocery stores and convenience markets and many others. The Quick Payment Service Program has a transaction limit of $15 to $50.

Both Visa and Mastercard reason that thieves are generally not going to steal goods they cannot resell. They odds are much greater of a theft at an electronics store then at a restaurant. But in an interesting twist, the Visa program does include electronic stores but the $25 limit should stop any major purchases as long as signatures and ID are required by the retailer.

Many households do not take the time to closely check their credit card statements. Consumers are especially lax when it comes to questioning small charges. It can take hours to dispute a charge and a small questionable charge is simply not worth the trouble of disputing. In addition, one spouse may assume the other spouse made the charge.

The founder of the Identity Theft Resource Center located in San Diego is Linda Foley. She says the Visa and Mastercard programs make her nervous. She believes that once thieves learn the new Visa program is in place there will be an increase in the number of small identity theft cases.

Consumers need to be very careful when using their credit or debit cards. For example, in the case of debit cards it is important to make sure no one can see the PIN number entered. It is so easy to become an identity theft victim when someone can see the PIN number you enter. Some people leave their receipts behind at places like convenience stores too. If the account number is not hidden on the receipt, it is easy for a thief to use that account number and PIN. It is wise to always take your receipt with you even if you don’t want it and then shred it at home.

Time will tell if the Visa No Signature Required Program will be successful.

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Medical identity theft is, without a doubt, the most sinister form of all, because so much hangs in the balance. Victims come up against stodgy hospital administrations, rules, procedures, forms – and may still not get things cleared up.

There’s a lot to keep in mind, and each specific situation is going to have its own twists and turns, so it’s best to start out where you’ll be most effective.

The Basics of Fixing Medical Identity Theft originally appeared on About.com Identity Theft on Monday, March 8th, 2010 at 00:01:40.

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I once heard identity protection compared to anti-virus software. It’s a fair comparison: the reasons for writing a virus are a desire to cause mischief, or to take control of something illegally. They’ve made laws about viruses (virii?) but we all subscribe to personal protection because the laws do not protect us.

When we look at the growth of two trends, illegal immigration and identity theft, we see it’s not only a financial problem for the country,  but one that lives in the heart of a political minefield. Most politicians don’t want to risk losing the illegal immigrant vote….wait a minute….

E-Verify Misses By More Than Half originally appeared on About.com Identity Theft on Saturday, March 6th, 2010 at 00:01:10.

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I invite victims of identity theft to briefly share their story with our readers. Sometimes there’s so much, though, that it’s hard to know where to begin. This form page will make it easier to organize the thoughts and events that led you hear in the first place. (It will pop up in a new window. If it doesn’t appear, try this link instead.)

Share Your Identity Theft Story originally appeared on About.com Identity Theft on Thursday, March 4th, 2010 at 00:01:20.

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It does make for a political hotbed, though.

Here’s the dirty little secret that’s been chained up in the basement: The government knows our social security numbers are being abused by illegal immigrants, and others who don’t want to pay taxes or be tracked back to their employer. They want us to believe they are doing something about it, but looking deeper we find mixed signals.

ID Theft & Illegal Immigration originally appeared on About.com Identity Theft on Tuesday, March 2nd, 2010 at 00:01:57.

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The reasons for the policing difficulty are twofold. First is the fact that there are not enough police resources to track down the source of the thefts. Second is the fact that identity theft can often involve complex computer hacking that begins in places like Russia and China. It is virtually impossible to find out who is doing the hacking.

On the other hand, a lot of identity theft in Yakima Valley occurred quite simply. Checks or other documents containing personal information are stolen out of mailboxes. The consumer is unaware the documents are missing until the thief uses their information to steal funds or buys products using credit card or other account information.

According the Federal Trade Commission’s Consumer Sentinel Network, in 2008 there were 1.2 million complaints filed, and of those 26 percent were identity thefts. This means that 314,000 identity theft complaints were filed in 2008 and the numbers are sure to have grown in 2009.

Washington State, the location of Yakima Valley, is ranked 14th on the list of states in terms of numbers of complaints filed. The entire state had 5,800 complaints filed in 2008.

Gilbreath makes some suggestions of things consumers can do that minimize their risk of becoming identity theft victims.

• Check your credit report at least once a year

• Pick up your checks at the bank and don’t have them mailed to your home

• Never give out PIN numbers to anyone including family and friends

• Never give your personal information to someone on the phone unless you are assured it is safe to do so

• Beware of opening emails that you don’t recognize because they may contain viruses that track keystrokes or provide a portal to gain access to your computer

• Don’t leave card payments in your mailbox where thieves can steal your mail but instead place your mail in a mailbox

• Don’t throw credit card offers in the trash without shredding them

• Don’t carry your social security card in your wallet

Taking some precautionary measures really doesn’t require a lot of effort, yet they can prevent consumers from spending years trying to overcome the damages identity theft can cause.

In Yakima Valley, the Police Sgt. Tony Bennett says that most identity thefts are the result of fraudulently written checks. Thieves will steal checking account numbers and then have the number printed on checks they create. The police work the cases though, as mentioned, they can be difficult cases to resolve. Some thieves steal locally and then move on to another location.

If you find a fraudulent account on your credit report, the major credit bureaus can place a fraud alert on your report. You should have the account closed immediately of course, and then file a report with the police.

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When you see a trend before the general population becomes aware of it, you become familiar with the Chicken Little syndrome. Four years ago, I got some strange looks when I talked about identity theft. Today, there is a chorus in the financial industry – “…so say we all.”

Identity theft can strike anyone. Now everyone knows we can’t stop it, but we can take steps to minimize our risks….

Fastest Growing Crime in US originally appeared on About.com Identity Theft on Sunday, February 28th, 2010 at 12:41:45.

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