Businesses have to be keen on this new development in the financial stratosphere when you’re thinking about it, for plenty of reasons. Aside from the fact that the transition to credit card chip technology will incorporate a nationwide spread of new card-reading machines (more investment for businesses, unfortunately), there’s one other subject companies everywhere would love to learn more about: identity theft.
Good question. This doesn’t just revolve around the consumer, but the business. Ever lend your business credit card to the intern? Not a smart move…. You can imagine just how important it is to ensure that credit card fraud never steps foot into your business, and the concept of someone stealing somebody’s information — either customer, client, or business — is earth-shattering at best.
However, the computer chip raises a beautiful question. Hackers don’t care. A chip can be hacked into. But everyone’s saying that this new credit card chip technology’s going to change the landscape as far as credit card fraud and ID theft is concerned (it’s already happening a ton overseas where EMV’s been changing the way people spend money).
Here’s why credit card chip technology will make things better — the main problem with the magnetic strip credit card is the fact that the strip holds all the data and it never changes. That means if anyone ever gets a hold of your one little strip (they don’t even need to steal the card) and copies it (that’s really all they need to do), you can go about your life still having your card (no one stole it!) while some ID thief runs around with a copycat card, spending all your money.
What the computer chip-enabled card does, however, is allow the user to swipe it, have the machine read it; and the chip itself develops a unique ‘transaction code’ that can never be used again. It, therefore, means, you can buy 15 separate candy bars, the card will read it 15 separate times, and each time will be virtually unique from every other time.
Not one thief would be able to steal your information. Each transaction is encoded through the chip and never gets stored anywhere. It’s processed and then dies a lovely death in cyberspace, basically. Therefore, your information can’t ever be pulled from the card.
The hope is the new credit card chip technology will change the way credit card fraud happens. As in never. But the problem with ID theft is there’s always a way. It’s like that bad penny always turning up. The good news is that this new development will certainly make it easier for Ultimate Identity Protection and other partners to do what they do best. Protect your identity.
The post How the New Credit Card Chip Technology Will Support ID Theft appeared first on Ultimate Identity Protection Services.
Identity theft is rampant these days. Anyone with a computer and enough gall can accomplish it, regardless of their intellectual prowess, and so bank accounts are being ruptured – and drained – with alarming regularity, but it is preventable with such services as LifeLock or Identity Guard.
The next time someone asks you for your phone number, full name, or financial information, stop and ask yourself why do they need to know this? Then, stop and ask the person inquiring – why do you need to know this?
Identity thieves ask for important information, knowing that more often than not they will get a thoughtless, automatic response. So be vigilant about who you hand that information out to, and you might save yourself a lot of trouble.
One method of identity theft is to take mail directly out of a mailbox. Don’t make it easy for them. Always drop your mail off at the post office instead of leaving it in your mailbox, and when you go on vacation, make sure you have your mail held instead of letting it pile up for thieves to take.
Don’t leave bills lying around where anyone can see them, and keep your personal information, such as credit cards, stored away safely.
Most identity theft occurs online. Be smart about online financial transactions. Install firewalls and make sure the sites you’re spending money on are secure sites. Use creative passwords – random sequences of letters and numbers work best – and don’t give your financial information to just anyone
It’s hard to stop a criminal once they set their mind to committing a crime. But you can make yourself less likely to be a victim, and safeguard your financial well-being, credit history, and identity by being vigilant with the ultimate identity protection. As a result, you end up making sure you’re the only one spending your money.
identity fraud, Identity Guard, identity theft, identity theft program reviews, identity theft protection, identity thieves, identitytheftprogramreviews.com, LifeLock, ultimate identity protection, ultimateidentityprotection.com
In today’s technology-driven world, the internet plays a massive role in spreading information. However, there are certain people and things that everyone should be aware of while using the internet. People such as cyber-criminals implementing identity theft, credit card fraud and other vices deceive internet users into revealing sensitive and critical information unknowingly.
Phishing scams are classified as an email fraud method in which legitimate-appearing emails are sent by the perpetrator (phishers) to gather personal and financial information from the recipients. Usually, the phishing scams appear to come from trustworthy and well-known websites such as Google, Yahoo, PayPal, or from banks and financial organizations.
Information usually sought by perpetrators of phishing scams can include requests for:
Phishing scams usually come in emails and even instant messages that would contain some link(s). Once you visit the link, you are taken to a “fake and replica” website. It is commonly seen that the phishing email request you to perform an action like “verify your account” or “confirm your card or billing information.” These emails also include a threat like “Your bank account will be deactivated if you do not click here“. If you provide information, you are a victim of phishing scams, a very effective form of identity theft, among many other chameleon styles of the crime.
If you do receive a phishing email, do not forget to report it to legitimate institution so you know there is someone to deal with it.
identity theft, identity theft program reviews, identity theft programs, identity theft protection, identitytheftprogramreviews.com, phishing, phishing email, phishing scams, ultimate identity protection, ultimateidentityprotection.com
We take for granted the fact that our little pieces of plastic just may be the keys to our true prized possessions: our identities. But why are we so casual about our credit cards then? After all, they’re just plastic flash cards with obscure numbers on them, and it’s hard to believe anyone could steal our identities just from copying down those numbers. Security’s pretty steely these days, we think, so how can any hacker do anything without actually stealing our credit cards? And even then, there are precautions taken for anyone using a stolen credit card. Yet, we should still be worried….
That one little credit card has all the pertinent information a hacker or identity theft aficionado would need — your credit card number, expiration date, your name, and your security code. When you think about it, that’s really all thieves would need.
Therefore, whenever you hand your credit card or debit card to anyone — even a waitress — you run the slight risk that the person just might be a cyber-criminal of the worst kind — committing identity fraud and stealing your resources, your assets, your everything, simply by copying numbers down.
It doesn’t take much effort to steal someone’s information. Identity thieves aren’t stupid, unlike some idiots out there. A thief doesn’t necessarily have to steal the actual card. What’s important is the information. More importantly, grocery lines are ripe pickings for identity theft as anyone with a smartphone could simply snap a picture on the other side of a line while the cashier’s not looking, get the numbers from the credit card or debit card swiped, and then use that information to purchase a new car or something. It’s that simple.
Be careful, please. You’re walking around with a giant vault, unlocked, and loaded with not only all the cash you have on you, but all the potential you have in securing loans and new lines of credit. Not a whole lot of financial quality control to work with there. Current credit lines, too, are in danger. When you think about it, it’s not that hard for an identity thief to get a hold of your information.
You’re never 100% risk-free. Just remember that. You can even have a stolen-card policy with your credit card company, but it won’t matter as long as the criminal has your information. Make it a point to get in with the ultimate identity protection service out there, or LifeLock especially. Identity theft is the most dangerous crime in the U.S. these days — and your credit card has now earned another notch on your belt as your biggest weakness!
credit cards, identity theft, identity theft program reviews, identity thieves, identitytheftprogramreviews.com, Lifelock reviews, theft, Ultimate Identity Protection reviews, ultimateidentityprotection.com, ultimateidentityprotection.com reviews