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
  2035 Hits

Search Blogs Module

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