Asset Planning, Inc Blog

The latest from the team.

New Trends in Credit Card Fraud


In a recent article released by AARP and written by Sid Kirchheimer, he writes about the new trends in credit card fraud. With the new chip-enabled EMV cards it is now harder for identity thieves to clone counterfeits of the existing plastic cards. Instead they are focusing on opening new fraudulent accounts with stolen Social Security numbers and other sensitive data. Javelin Strategy & Research reported in its 2016 Identity Fraud Study that new-account fraud more than doubled in 2015 from the previous year.

Here are a few tips on how to protect yourself:

1.Get a credit freeze. Once enacted, a credit (also known as a security) freeze restricts access to your credit report, which creditors check before issuing new financial or service accounts in your name. Without seeing your report, creditors won’t approve accounts to ID thieves posing as you. A freeze must be placed with each of the three major credit-reporting bureaus — typically free for those 65 and older (state laws vary) — and can be unthawed when you are legitimately applying for credit.

2.Secure mobile devices. If your financial life is on a smartphone or tablet, apply software updates that patch known vulnerabilities as soon as they become available. Use security features built into Android and iOS devices, such as passcode or biometric (fingerprint) protection, and programs that encrypt data and remotely wipe contents if the device is lost or stolen.

3.Use strong passwords. They “remain the de facto first line of defense for most online accounts, which has motivated criminals to compromise them whenever possible,” Javelin notes. Using a password manager is a convenient way to maintain good password practices without resorting to writing these codes down, which could also place them at risk of physical compromise.

4. Sign up for account alerts. Offered by banks, credit card issuers and brokerages, these free notifications, via email or text message, provide you with real-time alerts of suspicious activity. When fraud occurs, contact the account issuer immediately.

5.Take data breach notifications seriously. One in 5 data-breach victims suffered fraud in 2015, up from 1 in 7 in 2014. While data breaches at retailers remain an issue, the biggest jump in breaches was at government agencies and health care organizations, with a 64 percent rise in exposure of SSNs.

Continue reading
  970 Hits
970 Hits

Search Blogs Module

Wait a minute, while we are rendering the calendar
tax season Kiplinger Letter 2017 TD Ameritrade National LINC Conference media accounts Kraig Mathias phishing scams credit card company cell phone service provider parking spots disaster areas fees privacy settings 4 pm -8pm Victor Dergunov checklists partner /owner fun atmosphere emergency kit IRS deadline Flexible Spending Account assets Social Security Administration phone companies Part B web address account numbers health care costs vacation April 11 credit freeze breach October 1 2020. cell phones text messages asset Planning phone 900 number identity theft Treasury Department home break-ins Medicare Part B premiums insurance policies clone counterfeits Medicare Advantage TD Ameritrade Wells Fargo employees ID card opt-out pet industry interest rates “ skimmer ”. relief efforts information Facebook drive /usb 2017 IRA contributions notary services scams car loans National Ice Cream month vision screening June 29 house sitter Open House borrowing money Medicare Part B prescription eyeglasses pets cell phone carriers investment statements trust gap insurance credit card fraud April 15 cell phone SIM swap scam Mobile Banking Security Tips home mortgages cell phone carriers offer Brexit vote settlement options portal earthquake app Fox News story Independence Day Puerto Rico Two-Step Verification DNA test kits Asset Planning cell phone provider Ice Cream Social card reader hurricane Dorian Affordable Care Act spring cleaning Retirement Contribution Limits insurance policy VOIP landline phones tax deadline home Orange County Joey Gonzales company debt retirement planning people medications Healthcare contribution limit health care services identity thieves Part D premiums . Medicare plan toilet paper spam phone increase family members April 18 2017. pet banking ice cream policy Medicare https ://seekingalpha president Trump memorial Day weekend driver license wells Fargo money padlock Wells Fargo customers Medicare question 2018 IRA contributions executive order emergency kits ice cream event chip-enabled EMV cards official certification self-help topics clients estate planning 70 1/2. 2017 Equifax breach email notifications CFP ® blog post app fun facts Amazon information operations manager Auto insurance California Lions Friends news coverage retirement accounts Federal Trade Commission website Roth IRA check lists credit score Legal robocalls Open Enrollment holidays approach birth certificates estate planning direction summer credit cards flash drive January 10 integral member Notary Public team members retirement plans https :// offering insurance home security 23 andme Facebook profile consumer spending life saver documents home emergency kit FEMA website 401K Orange County Superior Court donation counts credit monitoring service Erin Nelsen CERTIFIED FINANCIAL PLANNER exam privacy notices home emergency preparedness kits rescue organizations jury duty Financial Planning Magazine Shred paperwork FSA emergency folder trustee client portal Social Security non-prescripstion sunglasses pet supplies D premiums phishing sites EEChecklist-Kits.pdf stockpilingchecklist.pdf retirement donation items 20 year anniversary IRA accounts July 4 estate Charles Schwab bottom line paperwork clutter Supplemental Security Income clients show support illiegal robocallers