The Biggest Identity Theft Scam...? - Comments Page 1

About the safest thing you can do is freeze your credit. Read this:http://www.consumer.ftc.gov/articles/0497-credit-freeze-faqs

I have a security freeze active with all 3 credit bureaus. You have to set up all 3 separately and if I remember right it's about $10 each to set up and be all done online. You have to "unlock" your credit for it to be used even if you are applying for credit with someone that you have a relationship with already (applying for a credit card with the bank your mortgage is with for example) $10 to unlock then will auto re-lock. You get notifications when credit is locked/unlocked; you have to ask the lender which bureau they are checking and only unlock the appropriate one. Doesn't stop someone filing a false tax return, unemployment claim, etc. but it will stop anyone (even you) from opening up new credit.

This is great information. Thank you!

Thanks for this heads-up on LifeLock.

At least THREE TIMES in the past three years, one of my credit cards has been hijacked with not a peep out of LifeLock. In each ease, I was made aware of the problem through the issuing credit card company. They resolved the issue promptly in each case. No help from LifeLock

When I questioned LifeLock, I got some kind of Martian response.

I'm still on the books with them until February 2016. I expect they will disappear at that point. The only continuing information I've received for well over $1,000 are the credit scores and the ever-present sexual offender reports(!)

John Doyle
7/24/2015
9:23AM

johnhdoyle@comcast.net

Really simple solution: use smart phone to take picture and thumb print of "borrower". If lender doesn't have one taken LIVE at time of transaction, forbidden to affect credit report and loss is NOT deductible. If they do, and it doesn't match name, at least we have a wanted poster. Doesn't cost the government a dime, and would decimate "financial" identity theft.

Right now, I have Lieblock, a service that MS offers for free with an unpaid subscription to Outlook. Most know this as the junk folder for hotmail. Mine works rather well. I threw out a dozen lies just this morning. Bob, you're a marvel. Thank you.

CreditKarma.com does a pretty good job keeping you informed of any Credit inquiries, Your credit score, when bills are due and recommendations for credit cards that may save you money. There is no cost whatsoever to sign up and no other costs.

The criminals are stealing at 186,000 miles per second. You need to respond equally.

Our ID's were stolen, we found out very quickly by a dept store in NY City, where we had never been. We notified the Big Three credit bureaus instantly and very little was ultimately stolen. However, it was MONTHS of watching and waiting...before the attempts finally stopped.
The problem is that you don't know WHEN it's 'over'. The attempts trickle along for an indeterminate time period. Yes, it's a pain,with police reports, phone affidavits, etc.,and not knowing when the theft attempts have stopped, but a far greater pain may await you if you fail to act quickly.

GET YOUR FREE CREDIT REPORTS THRU EQUIFAX, EXPERIAN AND TRANSUNION. FED LAW REQUIRES EACH TO PROVIDE ONE FREE REPORT PER YEAR.

Very timely information in light of the OPM data breach. Thank you.

Bob - I protect my assets using a three tier defense system.

First is my external asset - a great credit score. To defend my credit, I have frozen my credit record at Experian, Equifax and TransUnion. Doing so thwarts identity thieves who attempt to establish new credit lines in my name(ie - identity thieves). I have also frozen my wife's credit, at the same 3 agencies, for the same reason. The cost is negligible, the freeze is easily removed when applying for a new card, and IT security professionals at the respective agencies are guarding our credit from identity thieves.

Secondly, is to defend my existing credit line which encompasses credit cards in my wallet, existing bank accounts & current brokerage accounts. These can only be protected by routinely monitoring them for inconsistencies as you have said. It can be a daunting task unless you use software.

I monitor my credit cards, bank and brokerage history using Quicken. This software effortlessly downloads individual transactions & populates my respective registers. A quick glance at each register tells me I'm OK. The additional benefit is that I see what the size of my upcoming credit card bill will be. I can then budget accordingly. It all seems to work as I have an 812 FICO score.

Thirdly, I protect my credit by keeping bad guys out of my computer where data & passwords reside. These are the "keys to the kingdom". Bad guys can go anywhere with "the keys". Keeping my PC up-to-date with patches, regular malware/virus scans, locking down my router, doing encrypted backups comprise a personal security regimen which protects my credit.

So far, so good, no breeches. I remain vigilant because it is the wild west out there.

Remember "The Net" starring Sandra Bullock? The first time I saw a Lifelock commercial that's what I thought of.

Your timing on this article is amazing. I received a notice in the mail yesterday from "Medical Informatics Engineering" telling me there'd been a data breach in which my SSN, birthdate, etc. had been exposed. By way of apology, they were offering a free membership in Experian's "ProtectMyID Elite" services.

So is this just a scare tactic being used to promote Experian's service? Since the amount of verbiage spent on the ID protection service is far greater than that describing the alleged breach, I suspect so!

Years ago when I studied the installation of alarm systems and locks, the program also included info on ID theft protection. The conclusion was that no security or lock system and no ID is 100% theft proof. It also added that locks and security systems, although a deterrent to criminals, are a false sense of security for consumers/businesses. As a multi-millionaire businessman told me one time: "Good advertising can sell just about anything."

To get your free credit report from one of the 3 reporting agencies, look at the date when you last requested one from Experian, Equifax, or Transunion. A full year (12 months) has to pass before you can get another free report from that particular reporting agency. I requested a report from Experian yesterday only to be told I'd already received it. A year has not yet passed so I have to wait until next month to get a new one from Experian. Twelve months, folks.

Excellent and very thorough article, thanks for producing.

I have always been skeptical about how LifeLock works. This is really great information. Thank you!.

Bob, thanks for this important information. I am positive we would never get this truthful info from certain other Internet computer columnists, one, of which, has Lifelock as a oft-promoted sponsor.

I worked in the credit card industry & frauds for years. When I listen to these Life Lock ads on TV, they make me laugh. I've had my credit card number stolen a number of times in excess of $35,000. The first time it happened, my husband freaked. I told him, don't worry, I'll take care of it. One time we were staying in a hotel and this woman stole our number and went on a spending spree. I tracked her down and filed a police report. Most people do worry, because they don't know what to do. Putting a block on your credit is a great idea.

Fun reading ! Yes, I believe no one is safe (not paranoid, just realistic). My wife is ex-Fed employee, and we received notice that all Fed e-pay has been hacked and we are at risk for identity theft--but wait, they are providing "free" monitoring of our data for 18 months. I feel soooo secure and reassured!!

Thanks Bob; How long before we see the "mark of the beast", that will solve this ever growing problem?
:)