How to Create a Credit Emergency Kit

Identity Theft

How to Create a Credit Emergency Kit

How to Create a Credit Emergency Kit

Unfortunate events seem to come when we least expect them.  While we can’t control the timing, we can be prepared for when they do come. Just like we inventory our possessions in our homes in case of fire or theft, and have our auto insurance card handy in case of an accident, we can create… Read More

Help! Credit Card Theft Is Damaging My Credit Score

Credit Score

Help! Credit Card Theft Is Damaging My Credit Score

Help! Credit Card Theft Is Damaging My Credit Score

If you become a victim of credit card theft, it’s extremely important to report the theft immediately in order to minimize any damage the charges may cause. As shown by this reader’s question, waiting to notify the card issuer may cause additional, unnecessary damage to your credit reports and scores if the fraudulent debt ends… Read More

5 Really Stupid Financial Criminals

Identity Theft

5 Really Stupid Financial Criminals

5 Really Stupid Financial Criminals

Checking your pocket only to realize your wallet’s been stolen is a nightmare. The hassle of freezing accounts, plus the fear that your personal information is floating around, is enough to give anyone a major headache. But sometimes those thieves that try to pull the wool over your eyes end up only hurting themselves. Here… Read More

New Tools Aim to Crack Down on Credit Card Fraud

Credit Cards

New Tools Aim to Crack Down on Credit Card Fraud

New Tools Aim to Crack Down on Credit Card Fraud

Credit card fraud has become a big problem nationwide, as millions of Americans become victims of the crime every year. But now, companies that deal with consumer credit are working on ways to reduce one rather problematic kind of credit card crime. Card-not-present fraud is, as the name implies, a type of credit card fraud… Read More

8 Signs Your Identity Has Been Compromised

Identity Theft

8 Signs Your Identity Has Been Compromised

8 Signs Your Identity Has Been Compromised

While frequent data breaches may have desensitized some consumers to identity theft, it’s still important to pay attention to early warning signs your info is being used illegally, no matter how creative, silly or transparent a scam may seem. “For the most part, identity thieves are sophisticated, dogged and damn smart. They take advantage of… Read More

New ATM Comes from Russia with Fraud Protection

Identity Theft

New ATM Comes from Russia with Fraud Protection

New ATM Comes from Russia with Fraud Protection

The biggest bank in Russia recently began rolling out ATMs that come with voice recognition software designed to reduce the amount of consumer credit fraud, according to a report from the New York Times. The machines scan consumers’ personal records, using fingerprinting technology and 3D facial scans, as well as the voice analysis program that… Read More

Brookfield Lending: Portrait of a Loan Scam Company

Identity Theft

Brookfield Lending: Portrait of a Loan Scam Company

Brookfield Lending: Portrait of a Loan Scam Company

But if you were to apply with this seemingly authentic lender, it would be a nightmare. Brookfield Lending is a cover for an advanced-fee loan scam. If you contacted them, they supposedly approve your loan and would ask you to wire a deposit or insurance payment. After you sent your hundreds or thousands of dollars, you’d never hear from them again.

Credit Card Industry Loses $1.24 Billion to Fraud

Credit Cards

Credit Card Industry Loses $1.24 Billion to Fraud

Credit Card Industry Loses $1.24 Billion to Fraud

American Express, Discover, MasterCard and Visa reported a 9.3% increase in credit card fraud losses from 2005 to 2006. Setting a new record, the issuers lost $1.24 billion to credit card fraud according to The Nilson Report. This number doesn’t include debit cards or fees passed on to merchants.

Vote for the Worst Credit Criminal of the Year

Credit Score

Vote for the Worst Credit Criminal of the Year

Vote for the Worst Credit Criminal of the Year

We’ve been talking all week about the most common and heinous scams of 2006. As we near the end of National Consumer Protection Week, let’s see who gets your vote for the worst credit criminal of 2006. In our definition, credit criminals are the scammers, con artists and general bottom-feeders who try to steal from innocent consumers using deception. Cast your vote today!

Credit Freeze – An (Inconvenient) Ounce of Prevention?

Identity Theft

Credit Freeze – An (Inconvenient) Ounce of Prevention?

Credit Freeze – An (Inconvenient) Ounce of Prevention?

Some states that do allow credit freezes don’t allow just any consumer to freeze his or her credit (to date: Hawaii, Kansas, South Dakota, Texas and Washington state). In those states, only consumers who can provide evidence of identity theft are permitted to freeze their credit. The first evidence of identity theft sometimes surfaces as a mortgage loan fraudulently taken out in your name, Higgins’s case being a perfect example. However, by the time such credit fraud is discovered, the genie is out of the bottle.

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