If Your Smartphone Goes Dead, You be a Victim of SIM-Swapping

CreditCards.com has a report on how scammers manager to steal your smartphone identity. If your phone mysteriously goes dead and your service provider tells you someone purchased and activated a new iPhone under your account, you are a victim of SIM-swapping. This means a fraudster posed as you convinced your cell phone company your phone was lost. The company then gives the fraudster a new phone number and the fraudster gets access to your mobile banking, credit cards and other accounts.

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Huge Increase in Tax Identity Theft, New Helpful FTC Website, IdentityTheft.gov

Huge Increase in Tax Identity Theft, New Helpful FTC Website, IdentityTheft.gov Identity theft fraudsters used to steal consumers’ credit card information and run up charges. They still do, but now the fraudsters are stealing identity information to file fraudulent tax returns to get tax refunds in large numbers. In 2015, about 43% of the Federal Trade Commission’s complaints were related to use of stolen identities to get others’ tax refunds. Fraudsters also use someone else’s children as dependents in filing their tax returns to lessen their tax liability. Other crooks claim a tax refund using a deceased taxpayer’s information. Still...

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Some Databreaches Are Worse than Others and How to Avoid Being a Victim

Some Databreaches Are Worse than Others and How to Avoid Being a Victim CreditCards.com is great source of information on credit issues. A post today discusses data breaches of various descriptions and how each stacks up in terms of their impact on consumers. The authors first remind people that you are not your credit card–there’s a big difference between a risk or breach involving only one account and a breach that exposes one’s entire identity. But the risk increases when a breach extends beyond one card or account to include personal information such as your DOB and SSN. Scenario 1....

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Parents Should Check their Children’s Credit Reports

Parents Should Check their Children’s Credit Reports Parents should periodically check their children’s credit reports. The reason is that fraudsters sometimes steal the kids’ identity. They know that children likely won’t notice their identity has been stolen and parents don’t typically check their credit reports. A good time to check is when a child is 16. At that point, there is time to take action to correct the reports. Children should not have credit reports and so if there is a credit report it may be because someone has stolen the child’s identity. A research firm found that one in...

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Experian Wrongly Says Brooklyn Doctor Owes $22M

Experian Wrongly Says Brooklyn Doctor Owes $22M A Brooklyn doctor has sued Experian saying it mixed his credit files with fraudsters. Experian is reporting he owes $22 million on accounts that do not belong to him. The New York Post is reporting on the case. Experian says he has 47 mortgages, but they are from borrowers with different names and social security numbers. Plaintiff is Dr. Joseph Cannavo. His credit files are linked to those of José Cannahui and Joseph Canty. Incredibly, Experian refused to correct the doctor’s credit report. Trans Union and Equifax are not reporting any of the...

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