Over 14 million people were victims of identity fraud in 2018. According to the Federal Trade Commission, over 1.4 million people filed fraud complaints with the FTC.
Those $1.4 million complains represented over $1.5 billon in monetary losses. Well over 167,000 people reported credit card accounts being fraudulently and clandestinely opened with their personal information.
As depicted in action movies, you may think that all a cyber criminal has to do is hack your computer.
It isn’t.
Most criminals can steal identities through the simplest means.
Are you in the habit of leaving ATM, bank, and gas stations receipts and checks in your wallet or purse?
Then you are a prime target for identity fraud.
Fraud Advice from the “Catch Me If You Can,” Con Man
Frank W. Abagnale was an infamous con man who cashed over $2.5 million in forged checks. Abagnale was wanted in over 26 countries.
After cleaning up his act, he spent over four decades working with the FBI as a consultant to teach them how criminals steal identities so easily.
Abagnale operated at his peak in the mid-20th century. He recently told CNBC that criminals still steal identities in the simplest ways.
Like rifling through your mailbox or recycling bin for un-shredded mail and credit card offers. Or for mail that contains information like your date of birth and social security number.
All a criminal requires to open a phony bank or credit card account is your name, date of birth, Social Security number, and your address. Any other information that they can glean from your job and personal life from your mail helps them too.
Or, they can just rifle through wallets and purses left unattended at a party, function, church, doctor’s office, school office, or in a car with the windows down.
Identity theft is an opportunistic crime. Criminals don’t always have to steal your purse, or a wallet left unattended in your jacket.
They can just steal ATM and bank slips, or checks located in them, which are treasures of financial information
Never Leave These Items in Your Purse or Wallet
Consider Carole Crane, AKA, the Portland Creeper.
She led a gang of identity thieves who would, “creep,” or sneak in buildings, schools, elderly care facilities, places of employment, and doctor’s offices and pretend to belong there.
Then, they would steal wallets and purses, or, the receipts and personal information located therein. Later, they would open up phony bank and credit card accounts.
How many times have you left your purse or the wallet in your blazer unattended on a chair in church, the doctor’s office, at work, or in a school?
Crane and her gang stole over $200,000 from 50 banks and 50 individuals. She was sentenced to 10 years in prison in January 2019.
It doesn’t take the machinations of a cyber hacker living three states away to steal your identity.
Never leave these items in your wallet or purse:
- ATM receipt
- Gas station receipt
- Social Security Card
- Personal checks
- Bank deposit slip
Vigilance is the Best Protection
You only need practical items like your driver’s license, work ID, car registration card, car insurance card, two or three credit cards, and cash or your person.
Get in the habit of clearing out the receipts that pile up in your wallet or purse.
Otherwise, you may as well leave a, “welcome to my identity,” note for potential identity thieves.
Read More
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PROTECT YOURSELF FROM FINANCIAL FRAUD WITH THESE SIMPLE TIPS
PREVENTING AND CORRECTING IDENTITY THEFT
Allen Francis was an academic advisor, librarian, and college adjunct for many years with no money, no financial literacy, and no responsibility when he had money. To him, the phrase “personal finance,” contains the power that anyone has to grow their own wealth. Allen is an advocate of best personal financial practices including focusing on your needs instead of your wants, asking for help when you need it, saving and investing in your own small business.