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While someone stealing your identity is never ideal, it’s even worse if you don’t realize it right away. Identity theft is the criminal act of stealing personal, private, or financial information with the intent of using it to assume another person’s identity. If identity theft is the act of stealing personal, private, or financial information, then identity fraud is the use of this stolen information. This opens up the opportunity for a thief to intercept your personal information once submitted. A lost smartphone also provides criminals with a variety of personal information to use. There are four important things you’re trying to learn about your parents’ finances and records: their current expenses and income; their current financial situation and financial records; their legal documents (and attorney information); and where everything can be found. There is no law preventing people from going through the trash dumpsters and many people search for personal information in the trash bins.

Shred or destroy any documents that contain personal identifying information before you dispose of them. Secure personal information in your home. For information about identity theft targeted toward seniors, watch this recent story by ABC/FOX Montana: Scams Targeting Senior Citizens. Ask for a copy of the police report, and to have your case entered into the NCIC Identity Theft File. Keep the phone number of your investigator and provide it to creditors and others who require verification of your case. For example, hackers can utilize spyware or injection scripts to get your credit card number and use it to make unauthorized payments online. If you intend to use PayPal to accept payments for a business, then a business or premier account would be more suitable. Some banks offer free checking when you use direct deposit or limit your branch visits, but typically, the account is “free” only when you agree to a particular minimum balance, which could range from $1,500 to $4,000, depending on the bank.

If a malicious stranger has access to your accounts, a whole range of horrible events may happen. With this, thieves usually have access to your ID, credit cards, bank cards, and more. Freeze your credit files with the three major credit bureaus so no one can access them without your permission. Ask the credit bureaus to place a “fraud alert” on your credit report. Contact the three major credit bureaus. Some experts suggest checking them every three months (source: Abagnale). For example, let’s say you have three credit cards, each with a $15,000 limit. A fraud alert is a special message you can have placed on your credit report. Credit card companies and financial institutions may require you to show a copy of this report to verify the crime. Review your bank and credit card statements as soon as you get them. Most often, the stolen commercial identity theft solutions is used to make fraudulent purchases or to open credit card and bank accounts. Opt out of pre-screened credit card offers by calling (888) 5-OPTOUT (567-8688). This will not prevent you from getting a loan or credit card. You can visit wireless security alarms deal site that offers helpful information about honeywell security system for your safety and security need.

Information like your Social Security number and date of birth should be guarded. This is used to calculate your debt-to-credit ratio, an important number for potential lenders. Understanding these differences may help you better protect yourself and prepare you to fight back. Understanding the difference between identity theft and fraud is crucial in protecting against and resolving the crime. However, few know the difference between the two. While they may seem similar, identity theft and identity fraud are two different crimes that have different effects on your finances and credit depending on their severity. Identify thieves aren’t all master hackers: Many will resort to decidedly low-tech means to commit their crimes. This crime occurs when someone acquires key pieces of another person’s identifying information – such as name, Social Security number, date of birth or financial information – in order to impersonate that person and commit fraud or other crimes. If someone is using your SSN to work or file a fraudulent tax return in your name, it can affect any Social Security benefits you receive now or in the future. If a strange caller contacts you to request more information, such as your name, account number, or password, it’s a scammer trying to steal your identity.