Online identity theft increases from phishing

Although the Internet is versatile enough to offer amenities like online shopping and banking, the information highway isn’t always the safest option.

Phishing is probably the most commonly heard of method that scammers use to steal identities and money.

According to www.internetnews.com, phishing is defined as the art of sending an e-mail to people pretending to be from a bank, major online merchant (such as Amazon or Ebay), credit card company, or PayPal asking them to click on a link and verify their account information.

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KIDS AND MONEY: When credit-card fraud hits home, it's scary, frustrating

This is not how to start the day taking a call from a bank security officer.

It's never good news, as in my case in late January, when a security employee at my bank called the house asking about three credit-card purchases. Purchases I supposedly had made earlier that morning at a grocery store in Brazil.

"Holy cow," I blurted out over the phone. "It wasn't me. I've never even been to Brazil."

Count me among the more than 8 million victims of identity theft and fraud in this country. It is not a good feeling. Frustrating and feeling vulnerable are more like it.

Read more at: KIDS AND MONEY: When credit-card fraud hits home, it's scary, frustrating

Security freeze on credit reports could curb identity theft

Really, must we all go back to cash-only to protect our personal information?

In the past several years, millions of consumers have been put at risk of identity theft as their personal information has been either stolen from or left unprotected by the companies that collect it. The latest data breach involves TJX Companies Inc., which operates the T.J. Maxx and Marshalls retail stores.

The company recently revealed that the computer systems that process customer transactions had "suffered an unauthorized intrusion," and that some information had been stolen. In a statement, TJX said it did not know the full extent of the theft or how many customers might have been affected.

The break-in involved the portion of TJX's computer network that handles credit card, debit card, check and merchandise return transactions for customers of T.J. Maxx, Marshalls, HomeGoods and A.J. Wright stores in the United States and Puerto Rico, as well as the Winners and HomeSense stores in Canada.

Read more at: Security freeze on credit reports could curb identity theft

Banks launch crackdown on fraud with new card readers

A card reader for every customer as banks clamp down on internet fraud.

A trial scheme has been unveiled to beat fraud on the internet that will see banks issuing their customers with hand-held credit card reader.

APACS, the UK payments association, will trial the next generation of fraud prevention technology, designed to safeguard consumers when buying goods over the internet, by telephone or mail order.

Read more at: Banks launch crackdown on fraud with new card readers

Easy prey for credit card fraudsters

Credit card fraud is one of the hazards of everyday life today, but it is still alarming to learn that Belfast is one of the UK's top five cities for this kind of crime.

In a survey, more than one in four people (28.5%) confessed to having been victims, which put the city in fourth place, just above London and well behind the capital of fraud, Birmingham (34%).

Perhaps the Belfast figure should not be so surprising, since another survey last year showed that almost half of card users in Northern Ireland let their bank or credit cards out of their sight when out in public.

Read more at: Credit Card Fees Add $169 Million to Cost of Valentine's Day

Debit card fraud is on the rise

Skimmers took $1,000 from Gary Burkey's PNC account before he even finished reading about the debit card scam in the Saturday newspaper.

"I took a look at the article and I told my wife to check our account online and she said, 'Gary, I think we have a problem,'" recalls Burkey, of Wilmington.

Like dozens of others during the past few weeks, Burkey had used his debit card and PIN to make a purchase at the Rite Aid in Graylyn Crest Shopping Center, spending $11.71 on Jan. 24. By Feb. 1, criminals had created a counterfeit card and made two $500 withdrawals from two ATMs in southeastern Pennsylvania.

Read more at: Debit card fraud is on the rise

When credit card fraud hits home

This is not how to start the day — taking a call from a bank security officer.

It’s never good news, as in my case in late January, when a security employee at my bank called the house asking about three credit card purchases. Purchases I supposedly had made earlier that morning at a grocery store in Brazil.

“Holy cow,” I blurted out over the phone. “It wasn’t me. I’ve never even been to Brazil.”

Count me among the more than 8 million victims of identity theft and fraud in this country. It is not a good feeling. Frustrating and feeling vulnerable are more like it.

Read more at: When credit card fraud hits home