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
  1875 Hits

Search Blogs Module

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