Identity theft and fraud has been around since the 90’s and has raked in billion dollars for the criminal industry and although the number of identity theft has declined, you may realize that total cost to Americans have been continuously rising, in the recent years the figures as risen up to $2 billion dollars lost secondary to identity theft.

Why is that? One reason can be attributed to the popularity of America in the global arena, the country sits like a big target for the global market due to the vigorous American consumerism add to that an increasingly plastic financial system, making it an easy prey to those who wish to commit identity theft and so even as technology and industry goes global, unfortunately so does crime, with this is mind it is wise to consider an identity theft shield.

Identity Theft Shield – What It Can Do For You

Just think about it, technology makes us reachable, you can transact with someone in China while you are in America, so even as this sound good, you may also consider that identity theft is as global as well and everyone is getting in on the action. One of the most stand out case involved an Asian gang that run rampant counterfeiting credit cards even using the law on their side. A gang recruit raked in a total of $615,000 in the span of a year.

According to FTC, credit card fraud remains to be the number one culprit in identity theft even as experts predicted that credit cards would cease to exist, it remains a driving force in the financial industry. Leading one to ask, so what’s a credit card holder to do? You should protect yourself and minimize risk of credit card identity theft by getting an identity theft shield

Identity theft shield can help you protect your personal and financial records. It can help you monitor your financial activities and receive and updated credit report, enabling you to notice at the earliest stage if any fraudulent activities are happening under your account. And even if you we’re victimized by identity theft, identity theft shield can help you restore your credit reputation giving you back your good name and reputation. So even if a notorious gang like that of the Asian gang of the 1990’s re-emerge, you can feel safe and secure that even as our world remains to be a plastic economy and we be secured from the protection of an identity theft shield.

Credit identity theft can be done in either be through a credit card or a credit line or account. An identity thief may fake your card, or use your account number at a merchant websites and make purchases using your account. Or they can use your online credit to make fraudulent purchases. With this much possibility, credit identity theft even through the years rank at the top of identity thefts. In 2006 alone 8.9 million Americans fall victim to identity theft, majority of which are credit identity thefts. It is necessary to take steps to prevent identity theft and protect oneself from the hassle of fixing the problem.

How to Prevent Identity Theft – Your Top 3 Defense

1.  Keep your wallet safe. Put it in your bag or purse, where it is least likely to be stolen. Note that stealing wallets is the number one method where credit identity theft takes place.

2. Never leave your credit card statements just lying around. All someone has to do is fill out an address change form and send it to your credit card company or call them for an address change for your statements and then your credit identity is stolen.

3. Another way for your credit identity to be stolen is at an unsecure website. To prevent identity theft check for the yellow padlock at the bottom of your screen, this shows that the website is secured. If you don’t see it, it’s better not to type in your account number.

There are other options of course, money order, a checking account, a debit card and an online credit line but of course these pose their own problems as well and as such they too are open to identity theft.

A few of the problems might happen with these methods: money order may be inconvenient to get and it can get stolen in the mail as well, facing just another form of thievery. A checking account may mean more dire credit identity theft consequences, like having your entire account emptied in seconds as well as a debit card where all the money in the card can be taken at once. An online credit line may pose you with a large debt before any signs of trouble.

Of course, you can pay by cash for all your transactions, it is the ultimate protection to prevent identity theft using your cards but in this day and age, it is very hard to stay away from e-commerce, it is makes much more sense to transact many business online.

In the last year alone , identity theft has claimed over nine million victims in the US alone, and about 85% of these victims only realized that they have been victimized until it’s too late, when unknown charges have been made to their credit cards and/or something’s gone wrong with their credit report. Only the remaining 15% found out due to diligent activities by various companies and businesses have allowed the detection of identity theft and fraud.  So it is wise to protect yourself from identity theft, before it’s too late.

How to prevent identity theft

Many seems to be unaware of warning signs that should set off warning bells in your head. Here are 5 signs that can help you identify possible ways to rob you of your identity and then you can actually start to protect yourself from identity theft.

1. Your monthly bank statement shows withdrawals and fund transfers you don’t remember making.  You may be a victim of bank fraud.

2.  Some checks from your checkbook maybe missing and new checkbooks don’t come in your mail. Statistics show that the unauthorized use of others’ checking accounts is one of the fastest growing types of identity theft, protect yourself from identity theft by ensuring your checks are all accounted for.

3.  Credit card theft shows your credit card statements with purchases you did not make or receipt of billing statements from credit accounts and cards you never opened. An even worse scenario is when a credit collection company calls you to pay for stuff you never bought.

4. When your billing statements don’t arrive in your mail, you may need to protect yourself from identity theft, it can mean that your bills are being diverted to another address. Missing mails you expected to arrive can also be a sign that someone is raiding your mailbox.

5. You need to protect yourself from identity theft when you find yourself being disapproved for a new credit card, a loan or mortgage, when you know you can clearly have been approved. Checking your credit records will show debts that you don’t remember having.

Now that you know the warning signs you need to look out for, you can now protect yourself from identity theft, make sure that you take steps in order to alleviate some if not all of these warning signs, so you can stop identify theft from happening to you.

Perhaps the most sensible identity theft prevention tip is finding out just where your lifestyle and habits are most susceptible to attacks. You may want to invest in some knowledge on how to protect yourself from identity theft.  Here are some tips you can utilize to ensure your protection.

Tip #1: Have Credit, Will Shop!

Did you know that you are just asking for trouble by using debit cards or checks when shopping online? Yes, credit cards often figure in many identity theft stories, but they still offer a lot more security than other ways. You will be able to monitor all charges and in cases of discrepancies in your account, you can dispute this and if proven you are not held liable for these charges.

When you use a debit card or a check, it opens you up to bank fraud, allowing the thief the chance to empty your bank account in an instant and the money is gone before you even realize what’s going on.

Tip #2: Don’t Jot It Down!

The teller or the credit officer may tell you to write down your credit card number on your check, but it is strongly advised not to do it, this practice violates the law in many US states since it opens you up to bank fraud.  You can check your state government or State Legislature website for further information.

Tip #3: Take your receipt!

Yes you may be carrying a lot of bags and boxes with your purchases and can’t be bothered with picking up your credit card receipt, but leaving them lying around where thieves can likely pick them up opens you up for an attack or if you do take your receipt but throws them in the trash, you better think again, Dumpster diving is a practice common to identity thieves. Be vigilant of your own habits, this is how to protect yourself from identity theft.

Tip #4: Look out for Skimmers!

You may think it’s safe to give an employee of the establishment you’re in your card to pay for your purchase, but you should always keep your credit card in sight, simply because of skimmers: a small handheld gadget to swipe your card in to get your account info. You can stop this by ensuring that your card is within your site, even if it means following a store clerk or standing up from the table to see where your card goes.

This is how to protect yourself from identity theft, a vigilant effort to ensure that your credit card details are not divulged just to anybody and minor inconveniences like following a clerk and such will ensure that you are less likely to fall victim to identity thieves and less likely to face problems that comes with being a victim.

Commercial identity theft can be defined by any of three things. It can involve the identity thief targeting all the employees in an organization or what is known as spear phishing. It can also mean the thief accessing the company’s credit account. The thief targeting a firm’s clients is the third kind of commercial identity theft.

Spear Phishing – Fish in a Barrel

This type of commercial identity theft hijacks the credit of people within an organization. This could involve the employees and/or executives of a company – as either the victims or the perpetrators.

This type of credit hijack uses a method known as spear phishing, by the use of an e-mail, allegedly spawned by a department within the company. The e-mail will often direct employees to a counterfeit website and ask them to personal information or will ask for an e-mail reply with the same info.

Usually, the thief (which can also be an employee of the company) simply copies the database containing all the account and Social Security information of everyone involved in the company and then these thieves can wreak havoc over the employees’ credit account information.

Commercial Credit – The Company’s Credit Account

Here, the identity thief gains access to the credit account, credit cards, and/or checking accounts of a targeted company.

This is done either by a computer hack that is able to gain access to the company’s computer database but more likely it is the work of someone currently or previously employed by the company whose access is readily available.

There is also the possibility that the identity thief hacks the company’s e-banking transactions, either by hacking thru the computers or by a simpler method like stealing checks or stealing and faking credit cards.

Commercial Identity Theft – Client Hijack

Aside from targeting the company’s credit accounts and spear phishing, an identity thief can also make use of the usual phishing scam or its partner pharming in order to victimize a company’s client base, usually by attacking a company’s computer network to harvest for personal client information.

The goal is to gain the client database of the company and gain access to clients’ credit accounts. In the end, the thief can clean out the client’s accounts before anyone else knows any better.

When an identity thief hacks a company’s database to hack their way into a company’s account, do spear phishing to get employee information, or access the clients’ database, you should learn to protect yourself from these thieves, gain useful information, and take steps to prevent hackers from accessing your account. Take. Simple steps you take can ensure that your identity will be safe from these hackers.