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
  1161 Hits
1161 Hits

Search Blogs Module

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