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  • From: "Toni Hawryluk" <tonihawr AT msn.com>
  • To: "Homestead mailing list" <homestead AT lists.ibiblio.org>
  • Subject: [Homestead] ID theft - loooooong post ... and longer even ...
  • Date: Wed, 27 Oct 2004 08:42:08 -0700

http://moneycentral.msn.com/content/Banking/FinancialPrivacy/P87328.asp<http://moneycentral.msn.com/content/Banking/FinancialPrivacy/P87328.asp>



22 ways to foil credit card thieves



You probably won't end up paying the bill, but a stolen credit card can still
cost you big in time and aggravation. Here's how to protect yourself online
and off.



In some ways, credit card fraud isn't the problem it's often made out to be.

Visa says fraud accounts for about 7 cents of every $100 spent on its credit
cards, an all-time low and about half the rate of 10 years ago. Add to that
the fact that the major credit card companies have "zero liability" policies,
which means the vast majority of consumers who are victims don't wind up
paying a dime out of their own pockets.

Why, then, should you worry?

Well, for one, credit card fraud is a hassle. You often need to have your
account closed and a new one opened, which can leave you without a card for a
week or more. That's inconvenient,



....................and it can mess up any automatic payments charged to that
card.

That's if all goes well. Sometimes card issuers balk at removing charges or
closing a bogus account.

Robert Allen of Simi Valley, Calif., fought with Capital One for seven months
before the credit card company finally removed a disputed charge from an
Internet retailer. (The retailer kept insisting it had sent the digital
camera Allen ordered, but nothing ever arrived.) Allen said Capital One also
closed his account and issued him a new card, which he worried might hurt him
in other lenders' eyes.

"That was my oldest account at seven years," said Allen. Closing the account
"makes my credit history look younger than it is."

Occasionally these disputes can escalate to the point where they show up as a
late payment, charge-off or collection on your credit report. That can really
trash your credit score, which is the three-digit number lenders use to help
them gauge your credit-worthiness.


So, better safe than sorry. Fortunately there's plenty you can do to reduce
the odds of becoming a victim.

Guard your card online
Beware of "phishing" e-mails. These are made to look as if they're coming
from your bank or credit card issuer and usually urge you to take "immediate
action" so that your card isn't deactivated. The link in the e-mail takes you
to a criminal's Web site, where you're encouraged to input your credit card
account number and other personal financial details. If you get an e-mail
purporting to be from your card issuer, use the toll-free number on your card
to call and ask what's up.

Be cautious shopping with unknown Web sites. A quick trip to an evaluation
site like Bizrate.com<http://www.bizrate.com/> or the Better Business
Bureau<http://www.bbb.org/> online could save you money. Also make sure you
have multiple ways to contact the merchant, including a phone number, fax
number, street address (not just a post office box) and e-mail address.

Make sure the transaction is secure. Don't enter your card number unless the
little padlock is showing on the lower part of your browser, and the Web site
address starts with "https" rather than just "http."

Don't let Web sites "store" your cards. The encryption technology used for
transactions -- the information zipping back and forth between your computer
and the merchant's -- may well be better than the security used to protect
information stored in the merchant's databases. Besides, a big database of
credit card numbers is a juicy target for hackers.

Guard your card offline
This is really basic, but: Don't forget your card. You might be rushed, or
distracted by your kids, or involved in an interesting little chat with the
clerk. Whatever. Keep an eye on your card and make sure it goes back in your
wallet. I typically leave my wallet on the counter or restaurant table, with
my hand on top of it, until the card goes back in. This can be a little
awkward sometimes, but it helps remind me not to leave the store without my
plastic. The one time I forgot is the time, of course, someone swiped my card.

Shield your card. Think how many people these days carry around camera phones
-- and think how easy it would be to snap a picture of your card if it were
left in plain view.

Don't give your number out to solicitors. This includes telemarketers who
contact you by phone to offer you a "great deal" on magazine subscriptions,
vacations or any other purchase. If you ever get anything, you're likely to
pay a lot more for it than agreed, and some of these scamsters fight tooth
and nail against your attempts to have the charges removed.

Consider carrying fewer cards. Reduce your exposure by limiting the number of
cards a thief could potentially steal.

Copy what you carry. Every once in a while, empty your wallet onto a copier
and zap an image of the front and back of your cards. Keep this info in a
secure place (not in your purse or wallet) so you know which issuers to call
to report stolen cards.

Watch your statements
Know when your statements should arrive. Missing statements could indicate
that someone has stolen your mail or redirected it to a new address. Check
your most recent statements for the account closing dates; most close around
the same time each month, and should land in your mailbox a week or so later.

Review the charges. The more fastidious among you can compare your statement
with receipts you've collected during the month. The rest of us should, at
the very least, scan each charge to make sure we recognize the merchant and
the amount and have some recollection of making the purchase.

Report suspicious or unauthorized charges. Call the issuer promptly and
follow up in writing. Yes, sometimes you'll make a donkey of yourself, as I
did in the sleep-deprived days after our daughter was born. I insisted to the
customer service rep that I couldn't possibly have made a certain charge --
only to realize after her gentle questioning that, yep, I actually had. The
rep was very gracious. I suspect such things happen all the time.

Police your paperwork
Beware of "mistakes." If a merchant makes an error processing your card, tear
up the incorrect receipt or at least write "void" all over it. When presented
with a receipt that has blank lines before the total, draw a line through
them so that additional charges can't be added.

Collect, collect, collect. Gather up your "flimsies" -- credit card receipts
-- rather than leaving them where any thief could copy down your account
number and expiration date. (In a few years, merchants will be required by
federal law to truncate numbers on receipts, but it's not the law yet in most
places.)

Shred, shred, shred. Cross-cut shredders are the best, but even a $20 version
will do the job. Feed it all your old credit card receipts, applications and
anything else that includes sensitive financial information, such as your
Social Security number.

Secure your mail
Opt out of credit card solicitations. Reduce the volume of pre-approved
credit card offers (which can be swiped and used by thieves) by calling
1-888-5OPT OUT, which will take your name off marketing lists sold by the
credit bureaus. You'll need to input your Social Security number as an
identifier. Signing up for this service didn't eliminate but did
significantly reduce the number of offers coming into our home.

Ask your issuers not to send "convenience checks." Good luck with this one.
Some issuers will abide by your wishes (although it may take a while -- often
these things are printed up months in advance). Others will ignore you. Be
persistent.

Get a locking mailbox. And don't leave your outgoing mail where it can be
swiped by anyone passing by; drop it off at the post office.

If you're a victim:
Despite your best efforts, you may still become a victim. Here's what you
need to know:

Your liability for fraud on existing accounts is limited. Technically, you
could owe $50 if the thief has a chance to use a stolen card before you call
the issuer to report it. But typically issuers waive that fee, particularly
if you report the theft promptly. (If the thief steals your account number,
rather than the card itself, you have no liability under federal law.) You
may have to fill out an affidavit the issuer sends you to confirm that fraud
occurred, but typically the bogus charges are removed without too much hassle.

If the fraud involves a billing dispute, you'll want to notify the issuer in
writing within 60 days of when the statement containing the charges was
mailed to you.

(Since you probably won't pick up the tab for credit card fraud, you may
wonder who does. The answer depends on whether the merchant got an actual
signature. If so -- if the transaction happened in a brick-and-mortar store,
for example -- the credit card issuer is usually the one who eats the cost.
If not -- if the transaction happened online or over the phone -- the
merchant typically pays. Given that credit card fraud is at least 15 times
more common on the Web than offline, at least according to research firm
Gartner Inc., you can see why some Internet merchants are a little paranoid.)

You may be in for a bigger fight with new-account fraud. If someone steals
your identity to open a new credit card, you may face more skepticism from
the card issuer. Lenders often require a police report before they agree to
remove the account from your credit report. (Needless to say, that can create
problems if the thief is someone you know -- as I touched on in "The newest
identity thieves:
parents<http://moneycentral.msn.com/content/Banking/FinancialPrivacy/P77623.asp>.")

Keep good records. Call your issuer as soon as you spot the fraud, but then
follow up in writing. Use the company's address for "billing inquiries,"
which you'll find printed on your statement or in your account agreement;
it's usually different from the place you send your payment. Keep copies of
all correspondence with the issuer and any merchants involved.

Keep pushing. Like Robert Allen, you might run into a recalcitrant merchant
or card issuer. You don't have to give up. Ask for another investigation,
take your case to arbitration, contact regulators, even give your
representative in Congress a call.

Get help if you need it. Resources like the Identity Theft Resource
Center<http://www.idtheftcenter.org/> offer tools and advice for dealing
with persistent credit card fraud problems.



NOTE : this is where the above link goes - it was not a separate window:

VICTIM RESOURCES: Victim Guides

17 A - Identity Theft: What to Do If It Happens to You (written by
PRC)<http://www.idtheftcenter.org/vg17A.shtml>

FS 101: Identity Quotient Test (co-written by ITRC and PRC)

<http://www.idtheftcenter.org/idthefttest.shtml>FS 102: Business Identity
Risk Test

<http://www.idtheftcenter.org/busrisktest.shtml>FS 103: Online Shopping
Tips<http://www.idtheftcenter.org/vg103.shtml>

FS 104: Lost and Stolen Wallets/Palm Pilots

<http://www.idtheftcenter.org/vg104.shtml>FS 105: Effective Communication:
Making Allies and Getting Results

<http://www.idtheftcenter.org/vg105.shtml>FS 106 (17 B) - How to Organize
Your Case<http://www.idtheftcenter.org/vg106.shtml>

FS 107 (17 C) - Reasonable Requests a Victim Can Make of the Court

<http://www.idtheftcenter.org/vg107.shtml>FS 108 (17 E) - The Emotional
Impact of Identity Theft

<http://www.idtheftcenter.org/vg108.shtml>FS 109 (17 F) - The Court Experience

<http://www.idtheftcenter.org/vg109.shtml>FS 110 (17 G) - Criminal Identity
Theft

<http://www.idtheftcenter.org/vg110.shtml>FS 111 (17 H) - Victim Impact
Statements

<http://www.idtheftcenter.org/vg111.shtml>FS 112 (17 J) - Enhancing
Victim-Investigator Communications

<http://www.idtheftcenter.org/vg112.shtml>FS 113 (17 L) - Should I Change My
Social Security Number?

<http://www.idtheftcenter.org/vg113.shtml>FS 114 (17 N) - The Identity Theft
Evidence Trail<http://www.idtheftcenter.org/vg114.shtml>

FS 115 (17 P) - When You Personally Know the Identity Thief

<http://www.idtheftcenter.org/vg115.shtml>FS 116 (17 Q) - Collection Agencies
and Identity Theft<http://www.idtheftcenter.org/vg116.shtml>

FS 117 - Identity Theft and the Deceased: Prevention and Victim Tips

<http://www.idtheftcenter.org/vg117.shtml>FS 118- PC Perfect- A computer IQ
test <http://www.idtheftcenter.org/vg118.shtml>

FS 119- Firewalls and computer safety
<http://www.idtheftcenter.org/vg119.shtml>

FS 120 -Child Id theft <http://www.idtheftcenter.org/vg120.shtml>

FS 120a- To order a credit report for a
child<http://www.idtheftcenter.org/vg120a.shtml>

FS 121- Job seekers<http://www.idtheftcenter.org/vg121.shtml>

FS 122- Identity Theft Travel Tips<http://www.idtheftcenter.org/vg122.shtml>

FS 123- I Gave My Info to a Scam Artist - Now
What???<http://www.idtheftcenter.org/vg123.shtml>

FS 124- Credit/Security Freeze and Fraud Alert
Information<http://www.idtheftcenter.org/vg124.shtml>

FS 125- Federal Free Credit Report Law Update and Information (per new FACTA
amendments)<http://www.idtheftcenter.org/vg125.shtml>

For Law Enforcement and Fraud Investigators:

FS 301 (17 K) - Enhancing Law Enforcement - Victim
Communications<http://www.idtheftcenter.org/vg301.shtml>

FS 302 (17 M) - Victim Relations - For the Private Industry Fraud Investigator
<http://www.idtheftcenter.org/vg302.shtml>



  • [Homestead] ID theft - loooooong post ... and longer even ..., Toni Hawryluk, 10/27/2004

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