What Is Bank Identity Theft?
Firstly, you will be pleased to hear that this isn’t a situation in which banks try and defraud customers. Though there are occasional reports in the press about rogue members of staff in a bank that are copying customer information to sell on to criminals, it is, thankfully, rare.
It would be reasonable to say that in any position which deals with sensitive information, some people will succumb to the temptation. That is just human nature.
Instead, bank identity theft is generally carried out by criminals who are impersonating a bank. This might be online or by telephone. They are doing this in the hope that the customer will provide details of account numbers, sort codes and passwords to them. The criminals will then use this information to make transfers out of bank accounts and into accounts they have established.
From there, the stolen money will be removed or transferred again and the criminal will disappear. Needless to say, the bank accounts used by the criminals are often established in false identities and in far away countries where it is difficult for the police to investigate.
From the perspective of you, the bank customer, it is vital that you do not give your account information to anyone who calls by telephone and tells you that they are from your bank. At least 99% of all banks in the western world will never call you to do this. If you receive such a call, you are almost certainly being targeted by a fraudster.
If this happens, it is time to get serious about your information security immediately. Check your credit file as soon as you can. It is vital to find out whether other accounts have been opened in your name. You can get a free copy of your credit report or if you use credit monitoring (http://stopidentityfraud.org/credit-monitoring-services/ ), you can most likely find it on your online dashboard with the company you signed up with.
A Mathematical Certainty
In terms of the internet, this is known as “phishing”. Emails that look like they are from a bank, using an email address that seems to be similar will redirect you to their own website that looks exactly like that of the bank. These websites often have forged security certificates to help them bypass browser security functions. A percentage of people will follow the link and input their bank details to log in.
It is believed that there are actually several hundred thousand of these websites online. They are generally hosted in another country – often a Pacific or Caribbean island – in a corner of the internet that is difficult to regulate. It is widely believed that a significant percentage of all phishing activity originates from Russia.
As far fetched as this may sound, by spamming generic email lists with emails that look to be from major banks, the fraudsters can play a numbers game knowing that a small percentage will follow their process and hand them their information. They are using tried and tested direct marketing techniques for nefarious purposes.
The problem with identity theft is that it doesn’t discriminate against one demographic or socioeconomic status. In many cases, the theft is not due to carelessness on the part of the victim. Celebrities have to deal with the annoyance of identity theft as well, and they have plenty of money to steal, so they are prime targets. Here’s a list of 7 well-known celebrities that have been victims of identity theft related crimes
Steven Spielberg was the victim of identity theft, however he had nothing stolen besides his privacy. In the 1990s, Spielberg had his personal information used to allow an inmate in a Tennessee prison view on Spielberg’s American Express credit card purchases. The man later claimed he did it to supply the celebrity’s information to a Hollywood studio. Apparently this genius thought he could make money by getting a movie made about his small time id theft caper. Are people just that stupid?
Liv Tyler had a bout with an identity thief in 2011. Her hairstylist used her credit card number to help herself to plenty of merchandise and services around town. When caught, it seems the stylist didn’t use Tyler’s card alone. She used Anne Hathaway, Penelope Cruz and Melanie Griffith’s card information as well. Tips and payment aren’t enough?
Ricky Gervais was on the receiving end of a fraud in 2009. Using an insider at the bank to obtain Gervais’ information, the group of thieves transferred 200,000 pounds from his bank account. The cash was to be used to secure gold bullion. While the scheme seems fairly clever, the identification they used was a passport, with a cutout photograph of Gervais. The pic was taken off the DVD box of The Office. They needed the identification to pick up the gold they had purchased.
Paris Hilton had her name used in setting up a website. The site was dubbed Paris.org. Being registered as a trademark, she informed the thieves that she wanted payment for the use of her name. Later, her run-in with a teen in Minnesota resulted in her information being posted online. Apparently the teen had hacked in to Ms. Hilton’s phone.
A busboy was not using his head when he stole Ms. Oprah Winfrey’s social security number, birth dates of friends and relatives and even addresses of Oprah and 200 of the Richest People in America list published in Forbes. With the use of cell phones, a library computer and people imitating couriers, the thief snagged all of this info from credit protection services and reporting through Equifax. If you’re going to steal someone’s identity (or bank info) you might as well swing for the fences and steal Oprah’s right?
Known criminal, Anthony Lemar Taylor, picked a good one. He obtained Tiger Woods’ information after finding his information was not that secure. Taylor purchased $50,000 in merchandise. To top it all off, Taylor procured a fake license to drive, social security card and a military I.D, all in Tiger’s name. This bright guy even misspelled Tiger’s middle name wrong on the document’s but managed to still fill a storage unit to the hilt with stolen goods.
Will Smith found several fake accounts were used to grab $33,000 under his real name, William C. Smith. The 2009 incident wasn’t the first time for the thief. He had been arrested before for stealing the former Atlanta Hawks basketball player, Steve Smith’s name. He was still on parole for the prior arrest. Some folks never learn.
So what’s the moral of the story here? That anyone can be a victim of identity theft. You, me, Kim Kardashian or the mail man. Identity thieves don’t discriminate. If you haven’t started making decisions to better protect your identity, then you are just a statistic waiting to happen. Learn how to protect yourself on a daily basis and discover what credit monitoring can do as an proactive tool to help limit the damage should be ever be a victim of identity theft.
Lenders look at credit scores as a means to judge an individual’s creditworthiness. In today’s market, it may look like everyone is taking a hit to that all important credit rating. It’ll likely come as a surprise to you that some states are do better than many others. Dwelling in a specific locale does not mean you’ve got perfect credit, yet. Understanding which says top the list will provide you with a concept of the manner in which you compare together with the individuals residing around you.
What Variables Determine a State’s Typical Credit Score?
Just what variables can alter the common credit rating of a state’s residents? There really are a number to contemplate. Joblessness is among the top concerns. States with better employment numbers often have residents using a healthy FICO score. Being jobless forces some visitors to rely greatly on credit to fund essentials, and that could drive their scores down. Foreclosures inside the state are another prime concern. Other factors include:
- Typical charge card payment history
- Natural disasters which affect the state market
- New companies
- Home marketplace
- Insolvency rate
- Warm weather locations often endure more than states that face the chilly each year, also. This might take part because of their tourism-based markets. As a country, Vantage Scores average from 707 to 785, but by state, there’s a broader distribution.
A Review Of the Top Ten
10. Iowa – With a score that sits around 771, Iowa makes the most effective 10. Residents of Iowa tend to get low bank card delinquencies, as well as the state in general has low joblessness. Iowa does take a moderate ding to get a greater-than-average foreclosure speed. It had been enough to motivate the state right down to number 10.
9. Hawaii – Hawaii is tied with Wisconsin and Connecticut for average credit rating, with all three coming in at 772. Hawaii is the exception to the warm weather rule. While this sunlight state is famous for the high expense of living, it also hosts among the greatest amount of millionaires per capita in the U.S.
8. Wisconsin – Coming in at 772, Wisconsin boasts a gross state product of $248.3 billion. An adverse element in its credit rating is high joblessness. The Bureau of Labor Statistics reports the speed in Wisconsin hovers around 6.3, but that’s a large progress on the 2010 amounts.
7. Connecticut – The per capita income in the area of Connecticut is among the elite in the nation, but the unemployment rate runs high. In cases like this, the one positive and one negative cancel each other out to provide the state an average credit rating of 772.
6. Massachusetts – With a score of 773, Massachusetts is number six on the top ten list. Like Connecticut, Massachusetts increases points depending on its high personal income – it’s the 3rd-wealthiest state in the union. It’s also home to 13 Fortune 500 firms, making it-one of CNBC’s top states for company in 2010.
5. North Dakota – Back in 2011, this was the state that topped the set of greatest credit scores. These days, it’s still among the top competitors based on all of the credit metrics. North Dakota reports the lowest unemployment rate in the state – only 2.7 percent – and keeps low bank card delinquencies, giving it an entire credit rating of 775.
4. New Hampshire – Linked with North Dakota is New Hampshire. Like its New England neighbors, New Hampshire gains points for high personal income. It ranks number seven in the nation. Unlike Massachusetts and Connecticut, it’s a fair unemployment rate, also – well under the national average.
3. Vermont – The state of Vermont ties with South Dakota for time slot two and three. Vermont has steadily kept low foreclosure speeds. The national percentage of foreclosures is around one in every 2,370 home units. In Vermont, that amount is closer to one in every 39,000 units. Vermont ranks high in virtually every measurable class, giving it an average credit rating of 777.
2. South Dakota – Another state that produces the list every year, South Dakota additionally boasts a typical credit rating of 777. The state keeps a reduced unemployment rate, tied with Nebraska at 3.6. Additionally, it makes the very best six for high scores in most quantifiable groupings.
1. Minnesota – Topping the list by the end of 2013 was Minnesota. The residents of the state have a few of the best credit ratings in the country. United, their average sets Minnesota in the lead using a score of 785.
Fico scores transform year to year for every state. In 2011, North Dakota was on top of the stack, followed closely by Vermont, South Dakota and Nebraska. In 2013, Nebraska did not even make the list, due in part to a large number of reported personal bankruptcies.
Going to a different location in the country is most likely not the solution to boosting your credit rating, but understanding your state average does help provide some perspective. It requires work to build it up again when your score has dropped. The important thing for rebuilding a faltering credit report is an all-inclusive credit repair solution. It begins having an overview of your payment history and setting FCRA and FACTA laws to meet your needs, in order to construct better credit opportunities wherever you reside
Creditors and financial institutions are always drawing up plans to increase their revenues. Most of the time, consumers like you fall prey to their hidden charges or confusing rules. This is why a lot of you doubt whether the creditors can actually resort to such mischievous loan origination tactics or not.
To help you make smart decisions, I have discussed five of the most popular misconceptions related to credit and the banking
practices observed in our country.
Myth 1: Credit card companies cannot increase the rate of interest on my cards.
Fact: Actually, they can. However, the CARD Act has been put into place to protect you from their most horrendous abuse, i.e., they can no longer hike the interest rate on your card’s existing balances without you being 60 days late in making the payments. Still, there are certain loopholes that you must be aware of like:
- Rate of interest on credit card’s are variable and that they are always dependant on their prime rates. So, the interest charges on your balances will not increase any further unless the interest rates go up.
- You could be slapped with higher interest rates, depending upon your creditworthiness and payment history. If you pose higher risk to the creditors’ money, then you’ll be charged with higher rates of interest on all your future transactions.
- Your creditors can increase the interest rates on your cards for practically any reason after a 12-month period. However, the new, increased rate will only be applied to future purchases and not on the present balances. For that too, your credit card issuer, is bound to notify you at least 45 days ahead of any change in your cards’ rate of interest.
One of the most effective ways to resolve this of kind credit problem is to get your balances transferred or to payoff your dues through a personal loan, but make sure you are never made to pay as per the purchase annual percentage rate (APR).
Myth 2: Credit card payments are always used to pay off the highest interest incurring debt first.
Fact: This isn’t always true. Creditors use different rates to charge different kinds of transactions. The rate of interest on a purchase (is high) but then, it differs from the balance transfer that is basically low. Now, with the advent of the CARD Act everything such thing has changed. The payment made by you must be applied to the highest interest rate balance first. But, your payments should be greater in value than the minimum outstanding balances.
So, if you make minimum payments every month, then your money will be used to pay back the lowest interest rate balance first. The best tip would be to avoid having balances transferred and spend money from a single credit card. Frankly speaking, banks usually get to have your balances trapped when there are multiple kinds of balances incurred in a single credit card.
Myth 3: Every zero percent offer means the same.
Fact: No, all such credit card offers aren’t. A huge difference exist between a zero percent APR credit card and a zero percent purchase financing. Former is actually a balance transfer card wherein you’ll not be charged any interest on all your purchases for certain period known as the promotional period, whereas, the latter will defer interest from getting applied to your balances in some chosen departmental or retail stores.
In case of deferred interest credit cards, make sure you’ve paid off all the balances before the expiry of the promotional period because if you don’t pay off the balances within the said period, then you’ll be charged interest for the entire promotional period. Similarly, zero percent APR credit cards either have their interest reduced or stayed during promotional period. This is one of the most suitable ways to wipe out your overwhelming credit card balances and stay financially healthy.
However, as soon as it is over, the interest on their balances increases drastically. So, be careful with your use of these offers and always make it a point to pay off all the bills before the promotional period expires, as it might take you years to repay them all.
Myth 4: Closing credit card accounts will increase my credit score.
Fact: Actually, canceling old credit card accounts or any other debt is never a good idea to promote your credit score. People have the misconception that old debts look ominous to potential lenders. But, it is a lot better to pay off your bills on time and not missing a deadline than to keep a card with $5,000 available as credit lying idle in your closet.
So, basically its foolish to wipe out old credit card balances by having them cancelled. This is because old credit card accounts will elongate your credit history that plays an important role in improving your credit score. It would help creditors to evaluate whether you can manage your financial obligations responsibly or not. However, there are certain acceptable ways to have old debts removed from your credit report, if you’re hell bent on doing so.
Myth 5: Credit card issuers don’t provide any freebie to college students for signing up for their cards.
Fact: This is not always true. Though credit card companies are barred from doling out freebies like T-Shirts in front of schools, as per the CARD Act, yet that doesn’t stop them from signing-up students for the sake of bonuses. They can even promote their services/products on campus. Still, the practices isn’t good for students, as they are asked to spend with the lure of getting a free gift on every purchase they make. This is much worse than getting a T-Shirt for signing up.
Myth 6: I am protected from any kind of credit card or debit card fraud.
Fact: Not necessarily. In order to defend yourself against a credit fraud, you must report such an incident within 60 days of its occurrence. Or else, you’d lose a lot of your rights. In case of ATM/debit cards, banks can hold you responsible for not more than $500 in fraudulent transactions, provided you’ve notified them about the incident after two days of it from happening. On the other hand, credit card companies will not hold you liable for a fraud of not more than $50. There are some banks that waive off a fraud of $50 altogether.
If you are charged and held liable for credit frauds, then you’ll have to make the payments and in turn have your credit rating damaged. However, you can work to improve your credit score after negative trade lines like payment defaults, credit frauds or bankruptcy is reported against your accounts.
Whatever be the case, it is your responsibility to avoid any kind of liability. Utilizing a credit monitoring service is a good, proactive way to prevent identity theft. Always keep a record of your transactions and inform the concerned personnel of the bank or the creditor, the moment you detect any suspicious activity. Moreover, guard your confidential financial details and never share your Personal Identification Number (PIN) with anyone, or keep an easy, obvious one.
We all love going on vacation. It’s the time we give ourselves to forget about all of our worries and remove all stress. If you really want to enjoy your summer vacation, then take the precautions to protect yourself against identity theft before you head out. That way, you will be able to feel at ease and make the most out of your time off.
However, before we get to fully enjoy all those wonderful days coming ahead, we need to do some sort of preparation for not only the summer we love. In fact, thieves love stealing from others during this season as well. For them, people become more vulnerable during the warmer months since vacationers are more focused on relaxing rather than the security of their identities, and that is why criminals can so easily take advantage of the season. That being the case, summer is the perfect time for thieves to collect all the information they need to hijack an identity.
The good news is that you can do something to lower your risk in becoming a victim, even when you are on your summer vacation or travelling far from home.
Listed are some identity protection tips that will help minimize your risk:
Things you need to do before you leave:
- Contact your bank and your credit card company to let them know that you are travelling as well as to know where you would be travelling. That way, they can prevent any charges done from a different location. Instead, they would only allow charges made on your destination. If you have a good bank, then they would let you know if there have been charges that seemed to be suspicious.
- Limit the number of people you have told about your vacation or travel. Even though you might want to share everything about your vacation on your social media accounts, try to control it and instead, share it upon your return. Most of the identity thieves look out for people who are currently not in their homes especially during the months when people love travelling.
- Ask the post office to hold all mail for the duration of your trip. That way, you are assured that important documents would not be placed on your mailbox while you are away. Moreover, if it has been left sitting there for a long time, chances are other people could pick them up. It is also one way to avoid the piling up of mail in your mailbox, which gives the others, especially the thieves, a sign that you are currently not in your home.
- Only take the necessary documents and leave the others in a safe place if you are not going to use them during your vacation. Taking them all might only lead to losing them.
Things you need to do while you are on a vacation:
- Keep all your documents safe especially those containing sensitive information. Never ever leave your documents such as passports in the room you are staying in. Other people might also have an access to it. If the room has a safe, then better keep your documents there. However, things like your license should always be with you.
- Only use secured networks and never ever use an unsecured one such as a public Wi-Fi. Even vacation destinations these days provide an internet connection. However, not all of them are secured. Unsecured networks are much easier to hack. Moreover, acquiring sensitive information can be done without exerting a lot of effort. You should never access your online accounts unless the connection is secure and password protected.
- Check your bank statements from time to time. Whether you are on vacation or not, you should periodically check your bank statements. Discovering unauthorized charges would be faster that way, so be sure to use a secured internet connection.
- Never forget to set up a password to all of your devices as a precautionary measure in case one gets stolen or you lose it somewhere. Remote wiping is also a great idea. That way, if you can’t retrieve your phone, at least you are assured that nobody would get their hands on the information on your device.
By doing all these things, you will have a better peace of mind during your vacation.
Unless you live in a remote village on some tropical island, it’s almost 100% likely that you or someone you know has been a victim of identity theft. Unfortunately, identity theft is a harsh reality that we all have to accept and do our best to prevent. But have you ever wondered what’s really going on behind the scenes when your identity is stolen? How many criminals are seeing your social security number or your credit card information? This is a very scary thing to consider. According to an article on CBSNews.com here’s what’s happening to your information after it’s been fraudulently taken.
If your credit card information is stolen as part of a large breach, it’s more likely that your identity and information will be sold at least once as part of a package deal. Along the path to fraudulent purchases your card will be valued based on such factors as whether it is proven to be active (typically with small purchases that may go unnoticed) and whether other information is included — such as passwords, Social Security numbers, and birthdates that make it easier to open new lines of credit in your name.
Once your card information ends up in the hands of the final “user,” the fraudulent action can take many forms. The thief may make a duplicate card, choose to open up fraudulent accounts in your name, or simply use your existing card to buy items that can be resold for cash. https://www.cbsnews.com/news/what-identity-thieves-do-with-stolen-credit-cards/
Once you find out that your credit card, social security number or some other personal identifiable information has been stolen, you will have to take some corrective and preventative actions. Start by calling your credit card company and let them know what has happened. If any account were opened fraudulently, you’ll need to contact those companies as well so they can close the unauthorized accounts before more charges are made. File police reports and consider placing a freeze on your credit for at least 90 days. This will prevent anyone from running your credit during that time, so no new unauthorized accounts can be opened.
Use a credit monitoring service to stay on top of daily changes to your credit reports. If any new items pop up that you don’t recognize, it’s likely fallout from the credit card or identity theft. In the future, use some of these tips to help keep your personal information safe.
Remember when fingerprint and facial recognition scanning was just cool spy tech seen in Mission Impossible movies? Until recently, only the CIA and top secret spy agencies had this cool technology at their disposal. Long gone are those days as everyone with a late model cell phone or mobile device can now take advantage of these cool biometric security features. However, there may be some downsides to unlocking your smartphone or tablet with a scan of your thumbprint or face.
By the year 2019, it’s estimated that there will be nearly 500 million biometric scanners in use around the world. Amounting to a staggering $25 billion dollar industry. Biometric scanning is meant to take the place of alpha-numeric passwords that we’ve all used for years and is being touted as a more secure way to lock down your sensitive information. But just like normal passwords, that are stored on encrypted clouds and servers across the globe, won’t thumbprints and eye scans be susceptible to hacking and theft as well?
But there have already been cases of biometric hacking on a large scale. An estimated 22 million people had their personal data stolen in a massive data breach at the Office of Personnel Management in December 2014, including RAND privacy expert and mother of two Rebecca Balebako. She received a letter from OPM last year informing her that her personal information, including her ten fingerprints, were stolen in the breach. – Read the full article here.
Update: The Citi Credit Monitoring Service Program was terminated 3-31-2015.
We recommend you look at our LifeLock monitoring review as an alternative to the Citi monitoring plan.
IdentityMonitor is a service provided by Citibank. Citibank has been in business for the past 200 years thanks to its ability to do business through what they call Responsible Finance. What this means to Citibank is that they have invested hundreds of millions of dollars into small businesses, infrastructure, and other choice opportunities to help the average consumer be able to work for themselves, protect themselves, and achieve anything they wish to achieve. IdentityMonitor comes under the realm of protection for CitiBank customers, but is available for anyone who is wishing to have credit and identity theft protections.
Daily Monitoring for Daily Results
The key to being able to catch an identity thief in the act is to monitor your information on a daily basis. IdentityMonitor does this through credit monitoring reports every day to determine if any changes have been made to critical components, such as your address, your delinquent accounts, or new lines of credit, whether secured or unsecured.
IdentityMonitor also helps you have a hand in keeping your identity safe by providing you a complete credit report and credit score analysis upon signing up for their identity theft protection services. You then get access to this information for free on a monthly basis. This allows you to manually review your credit information to insure that all the information shown is authorized by you.
IdentityMonitor Gives You Effective Alerts
If IdentityMonitor detects information that may cause an identity theft to potentially occur or believes that a theft has already occurred, then you will be notified via the Notify Express system that Citibank has set up. This alert system lets you know when there is any change to your information that may be an indicator of fraud. You can also be notified in the way that works the best for you: through standard U.S. mail, e-mail, text messages, or by a phone call.
Get the Support That You Need
With an IdentityMonitor subscription, you get around the clock access to your credit information with a simple log-in. Some folks have questions about what it takes to adequately keep their identities and credit safe, If you believe that you have been the victim of identity theft, you also have immediate access to Citi’s Identity Theft Solutions department.
Should you become the victim of identity theft, you have access to a $10,000 – $25,000 insurance policy in most states to help you be able to work to recover your identity. This can help you to be able to defend yourself effectively, cover the costs of restoring your identity, and even cover lost wages that may occur while you are working to restore your identity. It may not be as much as the insurance policies of other companies, but unlike other identity theft policies, there is no limit to the amount of claims that you can have. Each claim you make gives you access to another policy!
Signing Up for IdentityMonitor is Easy!
You can sign up today for IdentityMonitor without being a member of Citibank! All you have to do is fill out your personal information and once you’ve agreed to the terms and conditions, you’ll have instant access to your Experian credit information. A simple and free upgrade is all that is required to get all three of the major credit bureau’s information about you around the clock.
Pricing & Value
IdentityMonitor offers only one plan of service that covers daily monitoring of your credit information and assistance in restoring your identity. You can try IdentityMonitor for the first 30 days for just $1, and then afterwards is $12.95/month. It should be noted that Citibank, in their terms and conditions, state that they can modify or cancel the IdentityMonitor program, including a change in the price of the program, without notifying you about these changes.
Protect Your Identity & Your Credit Today
Thanks to the Federal bailout, Citibank is more stable than ever when it comes to being able to provide an essential service to its customers. Becoming a customer of Citibank to make sure your credit and identity are effectively covered puts a bank on your side when it comes to fighting for you. Try out IdentityMonitor today for just a buck and discover how good it feels knowing that your identity and your credit are in safe hands.
TransUnion is one of the three credit reporting bureaus along with Equifax and Experian. The three credit reporting agencies keep track of your credit history and provide reports to prospective lenders and mortgage brokers. TransUnion not only reports on your credit, but they have processes in place to help make corrections to your report. On their site, TransUnion asks: “Have you applied for a credit card and been denied because of bad credit?” Credit card companies may be closing the door to you because of inaccurate information! TransUnion helps to fix your credit record, but only if you know what your TransUnion credit report says and specifically what needs to be fixed on TransUnion’s report.
TransUnion allows you to run a credit check on yourself quickly and easily. You could even pull your TransUnion credit report online while on a lunch break or in your pajamas at home. The sooner you see the Experian, Equifax or TransUnion credit reports that lenders and credit card companies see, the sooner you can make the changes needed to improve your credit rating and change in your life.
With a menu of reporting format options ranging from a free TransUnion credit report to a low-cost $29.95 three in one credit report profile including a free credit score, there is almost no reason that you can’t quickly and conveniently obtain your TransUnion credit report information and immediately report any payment, debt, name, or address mistakes to TransUnion.
Do you need to purchase a personal TransUnion credit report? Right now you can run a personal credit check for only $9. Do you want to compare your Experian, Equifax and TransUnion credit reports side-by-side to be sure none of them are reporting damaging or flat out wrong information about your credit history? If so, the three in one credit report is the way to go.
Yes, credit reporting agencies sometimes make mistakes. TransUnion may not even know it and their mistakes could cost you. It is up to you to make sure that your debt payment history information is reflected accurately on TransUnion’s report. Does your TransUnion credit report tell lenders that you made two late payments — but you didn’t? Does the report say that you still have an outstanding auto loan debt — but your car is paid off? Correcting wrong info can possibly increase your credit score. Increasing your credit score could mean the difference between a lender saying YES instead of NO. Transunion also offers id protection services that will keep track of your credit reports for fraud and identity theft.
Here is what a TransUnion credit report will show you:
- Names you have used
- Current and prior addresses
- Names of your creditors
- The amount of secured and unsecured debt taken out in your name
- Whether that debt is in the form of a revolving or installment account
- The current balances versus the limits on those accounts
- How prompt or late payments have been
- Your employment history and employer addresses
- Public records of judgments or liens against you
How do you get your TransUnion credit report right now? Just visit their site at www.transunion.com.free credit report.
One of the most important parts of returning your life to normal after your identity has been stolen is to fill out an identity theft police report. Filling out an identity theft police report will make the police aware of the theft and will allow them to charge the criminal with the crime when they are found and if your information can be linked to them in any way, they will be charged with the crime. Unless the police are aware that the identity theft has occurred, there is no chance that the criminal will ever be charged with the crime.
Why Is Filling Out The Report Important?
In many cases, any credit card companies that you contact to close accounts that were opened because of the identity theft will require you to fill out an identity theft police report before they will consider your claim to be valid. You may also be required to sign a waiver allowing the credit card company to prosecute the person that has opened the fraudulent account to the full extent of the law once they have been found so that the credit card company can recoup their losses. Identity theft fraud costs credit card companies and banks millions of dollars each year and allowing the criminals to be prosecuted in criminal court means that the company many be able to get back some of the money that they lost.
Once you have filled out an identity theft police report, chances are that you will not be held liable for the accounts that were opened fraudulently in your name. Many credit card agreements have a waiver that the person will not be held accountable in the event of the account being used by another person for criminal matters and will cancel the account at the request of the victim with very few questions asked. It is easy for the credit card company to determine whether a credit card is being used for fraudulent purchases because after the credit card has been issued, the criminal charges as many items to the credit card as possible in a short amount of time, maxing it out, and never make any payments on the bill for the account.
What Happens After You Fill Out The Report?
After you fill out the identity theft police report, there is little else that you will need to do until the criminal that was using your identity has been caught. If you have authorized the credit card company to pursue the conviction of the criminal, you probably won’t even have to show up at the court for the trial of the criminal. In some cases, the criminal will be conducting their criminal operations in another state, which would make it difficult for the person to attend the court hearings, but in the majority of the cases, just filing an identity theft police report is enough to ensure that the criminal will be tried for the crime.
How To Report Possible Identity Theft
It is important for every person to know how to report possible identity theft. Identity theft is a terrible offense that causes a great deal of financial problems for the people that are affected by the crime. The problems associated with identity theft will generally occur …What Steps Should Be Taken To Report Identity Theft? – Protection Against Identity Theft – Identity theft is a horrible crime that continues to victimize a person long after the theft has occurred. The hassles start when the crime is discovered and continues as the victim tries to repair the damage that was done to their credit history. If the person is lucky, they …How To Avoid Losing Money Through Credit Report Identity Theft – Protection Against Identity Theft – Credit report identity theft is becoming more and more of an issue each year as more people go through the hassle of having their personal information stolen. So how can a person avoid losing a great deal of money from an occurrence of credit report identity theft? There are …