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Placing an extended alert and security freeze on all three credit bureaus is free and very good insurance against ID theft.

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Frank Abagnale Will Catch You If You Scam
The former con man is now a fraud fighter

by Hugh Delehanty, AARP Bulletin, May 2016


Fraud expert and former con artist provides tips on how to best identify and protect yourself from scams.

Q: It's been decades since you passed bad checks and adopted false identities. How has technology changed scamming?

A: It's made it a thousand times easier. To forge checks 50 years ago, I had to have a Heidelberg printing press that cost about $1 million and required three journeymen printers to operate. Today you just open your laptop, go to somebody's corporate website and, within 15 minutes, you'll have a beautiful four-color check that's probably 10 times better than the actual checks.

Q: Are today's scammers less charming than you were?

A: There's really no such thing as a con man anymore—the well-dressed, sophisticated guy who speaks well. That's not necessary because you're conning people from thousands of miles away over a telephone or a computer. You could be in your pajamas sitting in a kitchen.

Q: What's the most ingenious scam you've seen recently?

A: One of the most popular scams is what they call account takeover. You write me a check and I simply go online to a check-printing service and order 200 checks with your account information. I might even put my own name and address on them. Most people don't reconcile their bank accounts. By your next statement, I've already written checks that have cleared your account.

Q: What about identity theft?

A: It's amazingly simple to do. The truth is, your identity already has been stolen. More than 800 million security breaches have occurred, and we have only about 320 million people in this country.

Q: So what tips do you have?

A: Do what I do. First, I shred everything, even if it's worthless, with a micro-cut shredder, which turns paper into confetti. Second, I use a service that monitors all three credit bureaus and notifies me in real time if somebody is trying to use my credit. Third, I don't write a lot of checks because if you write a check in a store, anyone who sees it along the way could order bogus checks on your account.

Q: What about your debit card?

A: I don't have one. I use only credit cards, because if somebody gets my card number and charges $1 million, my liability—by federal law—is zero. But when you use a debit card, you're exposing the money in your account. And even if you use your debit card every day for the next 25 years, it won't raise your credit score one point.

Q: What's your strategy with social media?

A: You don't want to use a photograph of yourself straight on, because there are too many devices today that can take that picture and match it online. Use a photo of yourself with a group of friends, taking part in some kind of activity. Also, never post where you were born or the full date of your birth, because those are two keys that can open your identity .

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Originally posted by chongosuerte:
Along those lines...

I did a freeze on Equifax, Transunion, and Experian after buying my car early this year.

My understanding is that no one, myself included, can obtain credit under my information without the lock being lifted.

I check my banking/credit card info almost daily, and balance everything multiple times a week.

Once a month I move a set amount from savings (where my work deposits it) to my checking. I pay the largest bills on the first of the month, so the money isn't lingering there very long to be stolen anyway. The bills that are not paid on the 1st of the month are drafted from my credit card, and I pay it off at the end of the month. I only have 1 credit card, and it is rarely used except for those 3 bills, that total around $200, just to keep it active.

I have an account with credit karma, and check my credit report(s) monthly.

My only concern is if someone was somehow able to access my savings accounts. I expect they could take the information from my debit card and make their own and withdraw the money, or they could gain access to my online accounts and transfer the money to withdraw or spend through the debit card information.

I am set up for alerts for spending and transfers, but my credit union's alerts are delayed from hours to a day or more.


Any suggestions on more I should be doing?

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Originally posted by MNSIG:
^^^^^^^

Considering that the entire financial world now knows that Equifax was hacked and half of our numbers are out there, what kind of idiotic bank or credit card company is going to extend credit without further verification. Further, what court would ever enforce a judgement against us for fraudulent credit that was extended under those circumstances?

I'm not planning to do anything.

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Originally posted by Lord Vaalic:
Thanks for the link, it looks like Ill be going with Identity Guard, good reviews and cheaper. Someone definitely has my info, have the address and name they tried to change my account to.

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Originally posted by 220-9er:
File a police report with your local agency and keep a copy.

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Originally posted by LBAR15:
Placing an extended alert and security freeze on all three credit bureaus is free and very good insurance against ID theft.