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
  1504 Hits
1504 Hits

Search Blogs Module

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