Identity Theft — Protect Yourself
By: Jordan Crouter | Posted: 07th January 2010
Are you doing any shopping online these days? Statistics have shown that crime goes up in a down economy, and credit and debit card users are often the victims. Identity theft is on the rise: Last year 9.9 million consumers had their data stolen, a 22%jump from 2007. Here are a few ways to better protect your wallet:
Shop the big names: With more than 70 retailers and payment processors since 2006 reporting breached customer data, it's no surprise that consumers look for certified safety seals such as VeriSign and Trust Guard on retail Web sites. But researchers say not all certification programs can ensure that retailers will follow security or privacy guidelines. Phil Hochmuth, a senior analyst at research firm Yankee Group, which did a study on seals, cites an "overall lack of a generally accepted standard" of what they mean. "That's the nature of the Internet," he says. Experts agree—stick with big, national companies. They have stronger security because they have the most to lose.
Find some privacy: Shoulder-surfing attacks have occurred at ATM's and computers. Cell phone owners may be even more vulnerable to nosy neighbors because they tend to type more slowly on their hand held devices and use them everywhere. For $3 to $10 you can buy filters that darken phone screens when viewed from an angle.
Use the right card: If bogus charges were made on your credit card, you're not liable for them while they're being investigated. But banks can take up to two weeks before restoring debit cards funds to your account. Plus, victims could be liable for up to $500 in losses if they wait more than three days to report a problem or far more if they wait longer. Credit card cap losses at $50. To be truly safe, never use debit cards.
Identity Theft - Protect Yourself
Jordan Crouter
cell: 949-310-6998
www.jordancrouter.comAbout the Author
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Tags: verisign, losses, payment processors, customer data, identity theft, neighbors, debit cards, atm, down economy