Why You Are Most Likely A Victim Of Identity Theft And Don't Even Know It

Do you purchase items regularly online, or use the Internet for accessing your bank account to send money transfers or pay bills? Do you only infrequently monitor your bank statements or credit reports? Have you clicked onto or responded to emails that provide links—even to seemingly reputable sites, such as Walmart— that request personal information? Are you an avid user of social networking sites, such as Facebook or LinkedIn? Then you are a target for identity theft.

What is identity theft? According to the RCMP, it is “the preparatory stage of acquiring and collecting someone else’s personal information for criminal purposes”—a violation of Bill S-4 that renders it illegal to possess another person’s identity information for criminal purposes. Personal information sought by identity thieves are:

• Full Name
• Date of Birth
• Social Insurance Numbers
• Full Address
• Mother's Maiden Name
• Username and Password for Online Services
• Driver's License Number
• Personal Identification Number (PIN)
• Credit Card Information (numbers, expiry dates, last 3 digits printed on signature panel)
• Bank Account Numbers
• Signature
• Passport Number

Your personal information, when stolen, could be used for activities such as accessing bank accounts, opening new bank accounts, transferring bank balances, applying for loans, credit cards and other good and services, making purchases, obtaining passports, or receiving government benefits.

There are a number of common scenarios of identity theft that are important to be aware of:

1. Phishing: This is a scam via email to obtain personal information under the deception of being a legitimate enterprise. A recent LA Times article reported that phishing attacks had targeted thousands of people with emails from Walmart and American Airlines. When you click on the false link, you are lured into unsecure web pages that request that you enter personal information as a way of procuring some kind of reward—like an iPod Touch—or download software that a hacker can use to fully access your computer.
2.  Skimming: Refers to devices placed in the card readers of ATM machines that real all the account information stored electronically on the magnetic strip of your card. They are becoming more and more sophisticated through the progression of technology and the rise of smaller smaller computing devices.
3.  Social Networks: Facebook is the norm, not the exception; and social networking sites are commonplace for business and socializing alike. However, it is easy to forget that social networking is available for anyone to see. Cyber thieves regularly roam social networking sites looking for unscrupulous users who post personal information. Such information can easily be pieced together into a profile, which can be used to commit fraud, or even steal from you.
4. Mobile Apps: Ever wonder where your pictures go when you use a third party photo application, or those important insurance documents you’ve scanned using Turboscan or some other application? It is not guaranteed that your private information remains suspended on some server where it is immune from being viewed by that third party or sent somewhere else. There is a price for the seeming convenience of storing your personal information on your phone.
5. The Curb: There are those who simply access your personal information by rummaging through the trash you put out at night for the next morning. It’s important that you do not throw out personal information unless it has been shredded.
6. Computer/Phone: There are more reports of people’s computers and phones being hacked into with a simple free program that allow the hacker to pinpoint the phone’s location, see call logs and messages, place calls, record conversations.

Here’s how to stop it:

• Be wary of unsolicited emails, telephone calls, or mail attempting to extract personal information from you, especially under guise of winning some kind of award;
• Ask yourself if you really need all the identity items you carry in your wallet or purse. Remove any you don’t need and keep them in a safe place;
• Avoid carrying personal information on mobile applications (scanners, bank apps, and social networking sites), regardless of how seemingly convenient.
• Be cautious when making posts on social networking sites—even seemingly private conversations.
• Do not let people borrow your phone; be leary of applications and other programs from sources you don’t trust; lock and encrypt your phone; turn off wi-fi and Bluetooth when not using it.

Report It:

• Contact your local police force and file a report
•  Contact your financial institution and credit card company
• Contact national credit bureaus and place fraud alert on your credit reports

Privacy is becoming more and more a thing of the past as technology progresses. Putting these practices into place, while not eliminating, can somewhat reduce the risk of you being a victim of identity theft.