Category Archives: Economy and Meltdown

Identity Theft Facts To Avoid Being A Victim

Have you heard the news that the fastest growing crime in the U.S. is identity theft? If not, you should stick around and read this article. You must find out the truth about identity theft to avoid being a victim of this yourself.

Here are the scary facts about this crime: It’s the fastest growing crime in America • Every year from 500,000 to 1 million people are robbed of their identity in the U.S.

• The costs? Over $50 billion in the past 5 years alone

• On average it takes from 6 months to 2 years to recover from an ID theft

These facts are actually several years old, since it’s hard to gather information when many cases aren’t discovered until much later. Not only that, if steps aren’t taken by most Americans to stop these thieves it will only get worse. So how do thieves actually go about stealing someone’s identity? It sounds complicated, but in many cases it’s very easy due to the lack of knowledge surrounding identity protection. Many time thieves simply go through a persons garbage after it’s set out at night, hunting for any scrap of paper such as a bill, especially a credit card statement, or anything with your full name and address. The are several pieces to the puzzle the thieves need, but they are persistent and clever in most cases. Once they get your information, they’re in.

Other methods they use are stealing from your mail box – have you ever had bills or credit card statements that don’t show up on time? It’s a good idea to have these sent to you online if at all possible, unless you have a secure mail box. Otherwise you are at risk for thieves to take your bills and steal your identity quickly. An even easier method is for someone to steal a receipt after you have used your credit card or even your debit card, getting your number and signature in the process. If they charge purchases to your credit card, you can be reimbursed in most cases. But if thieves steal your debit card information you may lose it all, every thing in your account, and in most cases banks do not care enough to reimburse you.

Have you ever heard of “skimming”? No, not the kind where you skim rocks over a pond. Skimming is a technique where thieves steal your credit card information by running your card through a small magnetic device that captures your number and pin, before processing the card for a purchase such as at a restaurant. Skimming devices have also been seen at gas station dispensers, and even ATM’s at many banks. Once they are noticed, of course they are removed. The thieves however are rarely caught, and get away with the card numbers they have already stolen since they rack up charges immediately on them.

Once an identity thief gets your information, they can open multiple accounts in your name including credit cards and other store accounts. The bills are sent to alternate addresses, so you may not notice anything is amiss until you check your credit score a year later and notice it has been dropping steadily since. Recovery is painful and lengthy in most cases, although if caught early you can minimize the damage. The best way to avoid all of this in the first place? Make sure you have a plan that will monitor your credit report and credit score 24 hours a day. There are several companies that do this, and they take the worry out of this process for you. Don’t lose it all to identity thieves, make sure you take steps today to protect your financial future. Don’t let the identity theft get the best of you.

Fraud Analyst

As the scale of business increases, so does the element of risk involved. Companies are constantly on the look-out for any defaulters or swindlers looking to con the firm. However, with the increase in stakes, companies need to be extremely alert to any possible loopholes in their security system. Thus, the role of fraud analysts has become very crucial.

Fraud Analyst – Job Description

Fraud analysts are employed in various spheres namely, banking, finance, insurance, cyberspace etc. Their major responsibilities include investigating a particular fraud and devising new techniques to prevent such scams in the future. For this, fraud analysts have to conduct various tasks that include:

1. The foremost task for a fraud analyst is to scrutinize the work cases very minutely to find any potential fraudulent cases. This is especially important while analyzing bank accounts, credit history, illegal use of credit cards and investment portfolios.

2. While analyzing these accounts, if there are any discrepancies, the analysts immediately take up that account and take any legal action against the owner. They must constantly monitor transaction characteristics and account changes. In this stage, analysts look for indicators or warning signs that would point to any potential fraud.

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Author Rachel Williams is a career counselor and helps job seekers by providing sample resumes for different spheres. Find sample analyst resumes here.

Work at Home Scams: The 3 Best Scams

More than a million people are victims of work at home scams each year. Some, I’m sorry to say, had it coming. They went in with their hearts instead of their heads. Others however couldn’t have dodged the bullet even if they tried the work at home scam was just too sophisticated for the average searcher.

These days con artists don’t just create work at home scams, they create systems that will damage the lives of their victims long after they have pulled out of the scam. Below are some ways con artists take advantage of you.

1. The “send in your resume” scam. This is a difficult scam to detect because it appears to be legitimate. After all, the company is asking for prospects to email them a resume and cover letter. This is something all legit companies do. However, it’s your email address they want.

Once you email them with your resume or to ask for more information, they will attach a malware to their email. This allows the con artist to gain free access of the job seekers computer including passwords and personal email.

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Jeff Casmer is a home business owner. His Online Home Business website is designed to find and investigate the best online home business ideas on the internet today including the top Internet Home Business available today.

What You Need to Know About Lottery Scams

With the success of lotteries around the world has come a swarm of lottery scams. Most lottery scams consist of the same basic components. First, they get your name and e-mail address, home address, or phone number. Second, they write you a scam e-mail or letter pretending to be a bank, a lawyer, or a company. After you contact the scammers, they try to get your personal information and then may steal your identity. After they do this, they could use your credit cards, take out loans in your name, commit crimes under your name, and even get jobs using your name. Don’t fall into this trap! Only play official lotteries run by governments and don’t give out your personal information

Some Examples of Lottery Scams

There have been huge lottery scams in the UK, Spain, and almost everywhere. For example, in 2004 a lottery scam was enacted in Tennessee and other US States. This scam affected several US residents and costs residents thousands of dollars. There were lottery scam victims in New Mexico, Tennessee and Mississippi. Basically the scam sent out fake letters to potential victims calling their organization the ‘Universal Lotto Promotions. They told the individuals that they had won $50,000 but they have to pay what they call a clearance fee to get their prize and that the fee would be deducted from the prize. After individuals paid the fee they received a counterfeit check and realized they had been scammed.

How To Identify a Lottery Scam

If you receive a letter saying you’ve won the lottery and you want to know if it’s a scam, here are some things to consider. You know the letter is a scam if you did not buy a ticket, you do not live in the lottery country, you did not register your name or information before you were allowed to buy a ticket on an online lottery web site, or you never heard of the lottery name. There are also statements that can help to identify a letter as a scam such as, “All participants were selected through a computer ballot system drawn from 30,000 names from Australia, New Zealand, America…”, “Due to the mix up of some numbers and names, we ask that you keep this award strictly from public notice…” , “This lottery was promoted and sponsored by …Ted Turner, Jesse Jackson, Bill Gates, etc.” -An important note. No legitimate lottery web site exists without legitimate rules posted which can be verified on official state websites.

Buying Lottery Tickets

If you want to buy these or any other lottery tickets, simply log onto your official state website. These sites explain how to purchase tickets, and often times tickets can be purchased online so you can play most state lotteries from the comfort of your own home. You can also refer to official state websites for custom lottery news. Many sites offer lottery number generators to help make your lottery number picking easier for you. If you would like to purchase your tickets in person, you can also visit a local lottery terminal. You can also log onto Lucky Lotto for all your lottery needs. This site offers the player the opportunity to play most state lotteries from the comfort of their own home. Make sure to visit LuckyLotto for all of your custom lottery news and check out our new LuckyLotto lucky lottery number generator! No matter how you choose to purchase your tickets, or which tickets you choose to buy, you’re bound to have some fun!

Abigail Adams works as a freelance writer for the online lottery information site LuckyLotto in Pennsylvania. Visit for all your lottery needs.

How to make a claim for credit card fraud in the UK

Finally some good news! The level of credit fraud perpetrated on victims in the UK has decreased in recent times by a massive 23%, new figures show.

But that doesn’t mean we can afford to lower our defences: latest figures released by Financial Fraud Action UK reveals that credit card fraud, combined with debit fraud, cost the UK more than £232 million in 2009.

Their research shows that the cost of debit and credit card fraud has fallen 23% in the first half of 2009, compared with the same period in 2008, down to £232.8 million.

“These latest fraud figures are good news, but we know there’s no room for complacency,” says Katy Worobec, Head of Fraud Control.

“Whilst industry online security initiatives such as Verified by Visa and MasterCard SecureCode may be making their presence felt, the fraudsters are never going to shut up shop and, of course, there are emerging areas such as online banking fraud which has risen again.”

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Peter Carville is a freelance article writer who writes for Financial Facts about the current financial news and the credit crunch.