SeniorAnarchy.com

Identity Theft And Credit Card Fraud: What You Need To Know To Protect Yourself

Once you learn about what the different types of identity theft are and what a criminal does with your information, it is easier to protect yourself from becoming an identity theft victim. Because credit card theft is the number one identity theft crime in America, this article will discuss what it is and talk about some ways to reduce the probability of becoming a victim.

Credit card fraud is the number one fraud committed by identity theft criminals and possibly one of the easiest crimes to commit. Credit card fraud is split into two categories with the first method being a thief who actually steals an existing credit card. This is by far the easier crime to commit and luckily is easier to catch. The other option the thief may use is to gain access to your personal information and open a new credit card account that the victim will know nothing about. Many times the thief will use an alternate address and phone number so the victim never sees a bill and will not be aware of a problem until it is too late. There are steps you can take to prevent this type of fraud.

To prevent a thief from stealing your existing credit card you should cancel any credit cards you don't need or use, pay close attention to your monthly bills, and above all else contact your financial institution immediately if you fail to receive your monthly billing statement. If a thief opens a new credit card account with your social security number it is harder to catch but there are steps you can take to prevent this from happening as well. Number one is the contact the Credit Reporting Agencies and request that no new lines of credit be approved without first seeking your approval. You should also request to be removed from any pre-screened credit offer mailing lists as thieves can steal such offers out of your mailbox or trash.

You should also take advantage of the fact that you can access your credit history twice a year for free to check for any fraudulent activity. For any accounts that have been fraudulently accessed or opened, contact the security departments of the appropriate financial institution immediately. Finally, if you are making purchases online you should use a credit card instead of a debit card. Let me explain.

Debit cards are legally riskier than traditional ATM cards or credit cards. While you are only liable for $50 if your credit card is used fraudulently, you may be liable for $500 or more if your debit card is misused plus the fact that the thief can drain your account dry and leave you broke until you get things worked out with your bank. In addition to this fact, debit cards offer much less protection then a credit card because with a credit card, you have certain legal rights to dispute fraudulent charges. If you suspect that your credit card or debit card has been compromised then you should contact your financial institution and cancel the card and put a hold on your funds.

You should now be aware that identity theft in general and credit card fraud in particular can happen to anybody. While there is no 100% guarantee that you wont become a victim of credit card fraud, taking the above steps can dramatically reduce the possibility. The important thing is that you take action to protect yourself now before it is too late. If you feel that you are not up to handling all the details then there are identity theft programs available such as the one offered by LifeLock which can take care of everything for a monthly fee.

If you wish to learn more about identity theft, credit card fraud, and programs that will protect you, please visit the LifeLock Reviews website today. If you are ready to take charge of your financial future then you can go to the LifeLock website and become a member by clicking here.

MORE ARTICLES:

Cyveillance Reports Malware Attacks via Web Sites Grew 30 Percent in Q3 2007: Online Financial Fraud and Identity Theft Report Identifies more
Cyveillance, the world leader in cyber intelligence, today announced its latest "Online Financial Fraud and Identity Theft Report." During the third quarter of 2007, Cyveillance identified a significant shift in the nature of online attacks with malware-based attacks jumping 30 percent to more than 3 million attacks. In addition, attacks targeting consumers in Europe and Asia are growing substantially faster than in the United States, indicating a global expansion of online fraud schemes taking advantage of previously untapped economically developed nations.

Motif Inc. and 41st Parameter Team to Provide Outsourced Online Fraud Screening Services
Leading Provider of Outsourced Fraud Investigation Services Teaming With Industry Leading Fraud Prevention Solution to Deliver Comprehensive Fraud Investigation and Management Service

Credit Card Fraud Prevention Using ASP and MS-SQL Database
Credit Card Fraud Prevention Using ASP and MS-SQL Database

Be Wary of Asphalt Paving Scams in Michigan
Consumers are warned to be extremely cautious when selecting a contractor to pave a driveway or parking lot. Each paving season, bands of con artists, often referred to as traveling criminals or gypsy pavers, enter Michigan in order to scam unsuspecting homeowners and business people. Their favorite targets are senior citizens.

What Do You Have Guarding Your Identity?
In America, one of the fastest growing crimes is identity theft This crime includes credit card, medical, tax and criminal fraud

Protecting your Online Security-Internet Scams
Internet scams or fraud usually refer to any fraud schemes that utilizes single or multiple online services which may include e-mails, chat rooms, or Web sites. They are designed to commit deceitful solicitations, transactions, or transmission of fraud to financial institutions or related schemes.

Identity Theft - Don't blame The Internet
Identity theft  also known as ID theft, identity fraud and ID fraud  describes a type of fraud where a criminal adopts someone elses identity in order to profit illegally. It is one of the fastest growing forms of fraud in many developed countries.

Identity Theft Lands A White Collar Job - ABC Office
With recent efforts to crack down on individual identity theft, identity thieves are targeting businesses. Criminals are adapting their fraud strategies to meet the change, businesses ought to adapt their fraud prevention strategies to do likewise. ABC Office announces its line of industrial shredders with the capacity to shred more than just bank statements.

Choosing A Home Base Business Opportunity Wisely
When it comes to any home base business you want to take precautions to protect yourself against fraud and business scams. Unfortunately there are scam artists who see enticing home base business opportunities and know they can make money by duplicating the website and literally conning people out of their money. This creates fraud victims who lose money and trust. The businesses that were duplicated lose trust from customers who get the wrong impression after scam artists have harmed their company?s reputation.

AP9 PrivacyMatters 123 Says, "Don't Get Hooked -- Phishing Can Ruin Your Day"
AP9 Privacy Matters 123 warns consumers of phishing and identity theft scams.

PFPC Announces Advanced Online Security Services
Multifactor authentication protects against fraud and identity theft.

How To Mitigate Appraisal Fraud Patterns
Appraisal fraud is a component of many mortgage fraud schemes This type of fraud is one of the more sophisticated techniques being used to commit mortgage fraud

MyBackgroundCheck.com Launches New Identity Theft Protection Service
Protecting consumers from both credit and criminal identity fraud

Identity theft protection & prevention for students
In daily life, very few people stop to think about how effective their identity theft prevention skills are. Of course, many people are not aware that identity theft is the fastest growing type of fraud. Today's youth are especially at risk- the 18 to 29 age range is the quickest growing victim group. Everyone should be educated on identity theft protection, especially parents and students.