ICFO Archive of Identity Theft

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Identity Theft

Identity theft

Identity theft is the deliberate use of someone else’s identity, usually as a method to gain a financial advantage or obtain credit and other benefits in the other person’s name, and perhaps to the other person’s disadvantage or loss. Wikipedia
Identity Theft Protection: 10 Ways To Secure Your Personal Data https://www.forbes.com/sites/robertadams/2017/05/05/identity-theft-protection-10-ways-to-secure-your-personal-data/#c376b962fde9
Identity theft ring busted after suspects spend $150K at Macy’s http://nypost.com/2017/05/09/identity-theft-ring-busted-after-suspects-spend-150k-at-macys/
A woman tried using a stolen credit card to buy groceries, cops say http://fox5sandiego.com/2017/05/09/woman-tried-using-stolen-credit-card-to-buy-groceries-cops-say/
Woman, Pushing Tot in Cart, Commits Identity Theft at Wal-Mart: Deputies The suspect used a stolen credit card number to buy groceries at a Wal-Mart in Santeehttp://www.nbcsandiego.com/news/local/Identity-Theft-Walmart-Santee-Town-Center-Parkway-421794643.html
15 Illegal Immigrants Arrested for Alleged Identity Theft for allegedly stealing Americans’ Social Security numbers and claiming to hold U.S. citizenship to gain employment http://www.breitbart.com/texas/2017/05/09/15-illegal-immigrants-arrested-alleged-identity-theft/
Thousands of Torontonians ‘have information compromised’ in Project Royal fraud ring Police seize stolen credit cards, hundreds of pieces of mail and a number of notebooks containing the personal information of at least 5,000 GTA residents, with losses estimated at more than $10 million. https://www.thestar.com/news/gta/2017/05/09/thousands-of-torontonians-have-information-compromised-in-project-royal-fraud-ring.html
2 charged, 1 suspect sought in $10M GTA identity theft investigation http://globalnews.ca/news/3437910/2-charged-1-suspect-sought-in-10m-gta-identity-theft-investigation/
FTC Announces Final Agenda for Identity Theft Conference on May 24 http://www.esrcheck.com/wordpress/2017/05/11/ftc-announces-final-agenda-for-identity-theft-conference-on-may-24/
Identity theft workshops target financial and health-care professionals http://naples.floridaweekly.com/news/2017-05-11/Business_News/Identity_theft_workshops_target_financial_and_heal.html
Highway 407 bill tipped off Ontario woman about Range Rover she says she never bought Teacher Tara Douglas fighting to clear her credit score after allegedly fraudulent loans, credit cards http://www.cbc.ca/news/canada/toronto/teacher-identity-theft-1.4109687
Junkyard Journeys: At Risk of Identity Theft http://www.krgv.com/story/35411082/junkyard-journeys-at-risk-of-identity-theft
A massive increase in identity theft SA Fraud Prevention Service offers tips on how to dodge identity thieves http://zululandobserver.co.za/143457/massive-increase-identity-theft/
Protect Yourself From Identity Theft When Traveling Take these seven steps before you leave on a trip to protect your identity and prevent hassles with your debit and credit cards. http://www.kiplinger.com/article/spending/T059-C001-S003-how-to-prevent-identity-theft-when-traveling.html
Medical Identity Theft on The Rise – 5 Tips to Protect Your Employees and Clients https://www.scmagazine.com/medical-identity-theft-on-the-rise–5-tips-to-protect-your-employees-and-clients/article/655115/
Using Bitcoin to prevent identity theft System piggybacks on the digital currency’s security protocols to thwart hijacked servers. http://news.mit.edu/2017/using-bitcoin-prevent-identity-theft-0524
Identity Theft, Credit Card Fraud Suspects Arrested in Raid Across LA, Orange counties The raid was part of a years-long probehttp://www.nbclosangeles.com/news/local/Identity-Theft-Credit-Card-Fraud-Suspects-Arrested-in-Raid-423908223.html
Identity theft has increased by 200% in 6 years – how can you protect yourself? In South Africa, identity theft contributed to the loss of R1bn from local companies in 2014 alone. http://southcoastherald.co.za/208586/identity-theft-has-increased-by-200-per-cent-in-six-years/
Anti-Net Neutrality Spam Victims Demand FCC Investigate ‘Slander’ “For the FCC’s process to have any legitimacy, they simply cannot move forward until an investigation has been conducted. We need to know who is doing this” https://www.commondreams.org/news/2017/05/25/anti-net-neutrality-spam-victims-demand-fcc-investigate-slander
‘Identity theft’: Net neutrality group demands FCC action over ‘fraudulent’ commentshttps://www.rt.com/usa/389859-fcc-fake-comments-net-neutrality/
3 Nigerian Members of International Fraud Syndicate get 235 years Imprisonment https://www.bellanaija.com/2017/05/3-nigerian-members-international-fraud-syndicate-get-235-years-imprisonment/
System piggybacks on Bitcoin to prevent identity theft New system uses the digital currency’s security protocols to thwart hijacked servers https://www.sciencedaily.com/releases/2017/05/170524131131.htm
Denver grand jury indicts 11 for ID theft that yielded more than $100,000 The group raided mail boxes throughout the metro area, stealing identification information and checks http://www.denverpost.com/2017/05/24/denver-identity-theft-grand-jury/
Protecting your identity – what every Australian needs to know https://securitybrief.com.au/story/protecting-your-identity-what-every-australian-needs-know/
New Trends In Identity Theft http://www.wfmynews2.com/news/local/2-wants-to-know/new-trends-in-identity-theft/443370704

Latest identity theft scheme is ‘synthetic’ says BBB

At a time when most Americans thought they had enough on their plates to be concerned about, comes this warning from your Better Business Bureau (BBB): Watch out for “synthetic” identity theft. According to the Federal Trade Commission, this latest form of ID theft has surpassed “true-name” identity theft in number of occurrences. Now it accounts for 80–85% of cases. Victims may not know for some time that they have been targeted because it is so hard to detect.
What is synthetic identity theft?
Synthetic identity theft is a process through which thieves combine real and fake information, possibly from several different victims, to create a brand new and different identity. A stolen Social Security number (often from a child or from someone with no credit history) may be combined with another’s name, another’s address, phone number, etc. With the new fake identity, a crook can open new accounts. They may acquire credit cards, cellphones, or other goods and services. In effect, they have created a person that doesn’t exist. The problems they cause, however, most definitely exist and can put you through a lengthy and convoluted process to repair the damage.
A scammer may combine a legitimate Social Security number with the address of abandoned property, a made-up name, and birth date. This cobbled-together identity then gets added to one or several legitimate accounts. Gradually they build up a credit history, perhaps making payments and charges over several years. Once they are capable of getting approved for an even higher line of credit, a credit card is maxed out. In what’s called a “bust-out,” they pay nothing back, ditch the identity, and are gone.
Among the risks to you are negative credit reports tied to your Social Security number. Since the incidents are not in your name, phone number, or address, fraud alerts and credit monitoring or freezes won’t stop the scammer or alert you to what is happening. This is what’s known as a fragmented or sub-file to your main credit file. The unpaid debts they leave behind can hurt your ability to take out loans or get new credit, even though your credit is “good.”

Protecting yourself

Doing the following should give you some protection against synthetic identity theft:
• Don’t give thieves a foot in the door by being careless with your Social Security number. Never give it out unless absolutely necessary. When asked to provide it, ask why they need it. Be protective of it at all times.
• Keep thieves away from your children. A child’s SS number is highly desirable due to their clean slate. Always protect your child’s Social Security number and other personal information. Check your child’s credit report for tell-tale signs. At annualcreditreport.com you can do so for free once a year. 
• Don’t slack when it comes to your financial communications. Watch your mail, phone calls, email, texts, etc. regarding such. Be suspicious and report anything that seems slightly abnormal immediately.
• Shred even junk mail that may contain information a thief could make use of.
There is a lot to think about these days. Online purchasing has mushroomed during the pandemic. That can mean potential exposure of your personal information. Be wary and mindful of any opening you may be giving a scammer. 
Source: GBTribune

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