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
  1408 Hits
1408 Hits

Search Blogs Module

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