Identity Theft News

Identity Theft News

The IRS, state tax administrators, and companies in the tax industry made it very clear in 2015 that they are joining together to combat tax related fraud and identity theft during this upcoming tax season. This comes at a time when identity theft is rampant and scams happen all the time. Plus, with all of your financial information in one place during tax season, it’s easy to fall victim to a data breach.

Before paying your electric bill, make sure it’s not a scam! 

One small lesson I learned that stuck with me is something I rarely (if ever) see by cashiers, merchants and the like: ID'ing a customer who is paying with a credit card.

I remember the first time I saw a co-worker do this. I was baffled, and after the transaction went through I asked him what the deal was. "Had my identity stolen once," the co-worked told me matter-of-factly. "$300 bucks on clothes online."

Well, then.

A recent survey courtesy of ACI Worldwide suggests that one in every four consumers has been the victim of credit, debit or prepaid card fraud at some point in their lifetime. (And kudos to to making us aware of the survey.)

Instances of credit and debit card fraud increased in some categories across the U.S. in the period between January 2010 and September 2011, according to new research from the credit reporting bureau FICO's Falcon Fraud Consortium.

As recently as 2009, instances of credit card fraud were on the upswing as thieves were successfully ripping off millions of consumers' accounts every year, but instances of this type of crime have been falling since 2010, according to a report from MarketWatch. The reason credit card fraud is now in decline is that the confluence of efforts on the part of merchants, card issuers and payment processors to increase automated vigilance for suspicious transactions have been largely successful.