"Identity Theft"
By now, you have probably seen more than your fair share of
those commercials presenting identity theft victims. You know,
the senior citizen who has been ripped off by the young thief,
and is speaking with his voice which boasts what a great theft
he has just made, and the things that he has purchased with her
stolen credit card?
Or, how about the reverse, whereby, the male victim is speaking
with the giggling female thief's voice who has financially "done
him in?"
It seems that most everywhere you turn these days, the opportunity
for identity theft is prevalent. What's more, is that it is appears
to still be taken lightly...that is, until it occurs. Yet, it
is so serious that, at the time of this article, the Senate Judicial
Committee is completing a bill that will create a three-year prison
term for identity thieves. Ouch!
In Texas, four of the state's largest financial organizations
have joined with both the Department of Public Safety and the
FBI to create the Loss Avoidance Alert System, a statewide network
for fighting fraud and identity theft.
The system is designed to automatically alert legal authorities,
such as the FBI and District Attorneys, as well as alert the public
when a bank detects identity theft. The system can immediately
send a notice to consumers that could reach, literally, millions
of Texans within an hour.
If you are unaware of exactly how identity theft works, or how
easy it is to implement, essentially, a thief assumes another
person's identity by using his birth certificate, social security
number, credit card information or other sources of stolen identity.
The thief then perpetrates fraud by taking out loans which are
never repaid, or by using credit cards in the victim's name.
If you recall, identity theft began a number of years ago when
thieves learned they could steal such personal information from
the records of deceased persons and, primarily, their social security
numbers.
However, within the last several years, thieves have become
even bolder by obtaining such information from the living.
Identity theft affects millions of people every year and the
problem is only getting worse. Dayton, Ohio police say everyone
is a target, from babies to senior citizens. They say criminals
can use your identity to steal from your account, access your
credit, and charge to your credit cards.
Law enforcement also suggest that you be careful about what
you throw away, especially if it has an account number, credit
card number, or your Social Security number. A great example is
an ATM receipt.
Identity theft now tops the list of telecom fraud and, this
past September, the Federal Trade Commission (FTC) issued a report
estimating the cost of identity theft to businesses and consumers
at $47 billion annually.
According to the FTC, nearly 10 million individuals were victims
of identity theft in 2003 alone. The personal cost to these individuals
was estimated at $5 billion, with the average person spending
approximately 30 hours to resolve problems that resulted from
the theft of their identity.
A handful of insurance companies, including Travelers and Farmers
Group, offer identity theft insurance to reimburse victim losses.
Other companies, such as Identity Safeguards in Tualatin, have
created protection services to watch members' credit reports.
Identity Safeguards, for example, notifies members on a weekly
basis of any change to their credit. It alerts members of identity
theft in their area, and it provides an advocate and a recovery
plan if fraudulent activity occurs in a member account.
Total reimbursements can range from $20,000 to $30,000. Other
benefits include legal assistance and a three-year reporting period.
Rick Kam, president of Identity Safeguards, said the company
has signed hundreds of people up since it opened in April, 2003
and he expects that number to quickly escalate into the millions
later this year, especially as the company offers its services
to employers as an employee benefit.
Pre-Paid Legal Services, an Oklahoma-based company with local
representatives, offers similar services. Working with Kroll Inc.,
the company offers an Identity Theft Shield service which includes
constant credit monitoring, notification of any problems and assistance
with restoring the member's name and credit.
The member can receive up to $25,000 in reimbursement through
the program for lost wages, legal fees and other costs.
According to the Insurance Information Institute, five companies
offer identity theft insurance. Travelers, for example, offers
the insurance as part of its homeowner package.
It includes up to $15,000 in reimbursements for lost wages,
loan re-application fees, legal and mailing fees and telephone
charges.
Laura Bradshaw, company spokeswoman, said Travelers created
the insurance after one of its new-product employees was billed
for a set of golf clubs he never ordered.
"It took him a fair amount of time and money to get his identity
back," she said. "He considered it a minor inconvenience -- it
wasn't like he was charged for multiple purchases or anything
-- but it caused him to think about it."
Bradshaw said the company has now sold tens of thousands of
such endorsements to existing homeowner policyholders.
David Kirby, Washington County Sheriff's sergeant in charge
of the new interagency Fraud and Identity Theft Enforcement team,
said these private-sector services are a benefit to victims.
"If you do become a victim, they help you recover your name,"
Kirby said. "These groups have figured out how to work with the
credit bureaus. We pretty much just give advice."
But! If you really want to eliminate the chance of identity
theft altogether, and with a one-time inexpensive solution, it
can be as simple as your visiting the below link:
http://www.educaterer.com/IDTheft.html
===================
Tip: "How to Make Door Locks More Secure"
Lock Plates: Pulling out the lock cylinder is a burglar's easiest
and most effective way of getting in. Most people install a plate
over their lock, believing that will secure it. But, the bolts
on most plates are exposed on the outside. With a hollow metal
door, the burglar can pull the plate away from the door with a
wedge, then simply cut the bolts. If the head of the bolt is exposed,
the burglar can pull it out slightly with pliers and snap it off.
Remedy: Go to your neighborhood hardware store or home improvement
center (Ace Hardware, Home Depot) for a cylinder and plate combination
that is drill-resistant, has no exposed bolts, and contains a
sleeve to prevent burglars from chiseling the bolts. Get one for
each door that has external access. __________________________________________
Kenny Love is president of Educaterer.com and MuBiz.com. Get
more information regarding the websites at http://www.educaterer.com
and http://www.MuBiz.com
