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
  1744 Hits

Search Blogs Module

Wait a minute, while we are rendering the calendar
scams vacation operations manager phishing sites check lists president Trump phone information Facebook company Affordable Care Act offering insurance April 15 clients Treasury Department home emergency preparedness kits home security cell phone provider Brexit vote Coronavirus Aid home emergency kit June 29 records privacy settings web address emergency kit CFP ® Victor Dergunov policy driver license 4 pm -8pm Facebook profile payments “ skimmer ”. Flexible Spending Account July 6 relief efforts ice cream event breach Erin Nelsen Medicare plan jury duty identity thieves Part D premiums . Amazon estate planning Economic Security tax records prescription eyeglasses Shred paperwork Medicare question drive /usb IRA accounts home break-ins Independence Day fun atmosphere email notifications cell phone SIM swap scam official certification executive order TD Ameritrade tax deadline January 10 Federal Trade Commission website stock pile October 1 2020. student loans hurricane Dorian donation counts health care costs Wells Fargo employees pets account numbers tax season disaster areas earthquake app Notary Public retirement planning Puerto Rico FSA 2018 IRA contributions app paperwork clutter contribution limit Kiplinger Letter phone companies self-help topics estate planning direction credit card fraud cell phones media accounts 23 andme Medicare Part B memorial Day weekend retirement accounts credit cards Retirement Contribution Limits VOIP landline phones Part B interest rates news coverage ID card Kraig Mathias family members July 4 Two-Step Verification emergency folder IRS vision screening spread Healthcare tax returns September 30 2020. items spring cleaning card reader emergency kits September 9 trust fees Asset Planning toilet paper Medicare Advantage 2017 IRA contributions years debt summer information gap insurance pet supplies Mobile Banking Security Tips partner /owner Supplemental Security Income illiegal robocallers insurance policy IRS deadline Roth IRA tax deadlines DNA test kits pet donation drive 2017 Equifax breach credit score Financial Planning Magazine Charles Schwab phishing scams opt-out birth certificates wells Fargo documents EEChecklist-Kits.pdf stockpilingchecklist.pdf D premiums home https ://seekingalpha Orange County July 3 rd business hours money CARES Act credit monitoring service Open Enrollment 20 year anniversary holidays approach investment statements blog post Orange County Superior Court padlock retirement plans identity theft tax filing deadlines stimulus package parking spots coronavirus notary services clone counterfeits cell phone carriers spam phone non-prescripstion sunglasses Fox News story cell phone service provider text messages credit card company retirement banking Expired medications privacy notices September 8 fun facts Open House interest pet industry settlement options integral member ice cream portal markets July weekend Auto insurance CA FTB Medicare 900 number flash drive team members National Ice Cream month borrowing money Social Security Administration California Lions Friends donation items https :// pet Medicare Part B premiums health care services credit freeze Legal robocalls bottom line rescue organizations Joey Gonzales Wells Fargo customers Ice Cream Social checklists asset Planning April 11 February 14 401K water … Labor Day COVID -19 virus consumer spending insurance policies FEMA website Social Security 2017 TD Ameritrade National LINC Conference market turmoil estate paper records people medications client portal earnings fallout chip-enabled EMV cards home mortgages clients show support CERTIFIED FINANCIAL PLANNER exam increase April 18 2017. assets car loans 70 1/2. cell phone carriers offer house sitter trustee life saver