Tag Archives: Identity Theft

New Identity Theft Laws in Indiana

The video is available here.

It looks like Indiana has been taking some proactive steps in the fight against identity crime, including stiffer penalties for violations (including child identity theft and businesses who don’t properly dispose of sensitive information).

It’s good that they’re trying to make it easier to block access to credit if your identity is stolen, but don’t be misled: identity theft still a major hassle to go through.

They also don’t mention anything about whether or not the system would help in cases of medical or other types of identity theft. Since it’s mostly dealing with credit, I’m guessing not. Still, these new laws are a giant step in the right direction.

Gone Vishin’

It’s 9:30 at night when the phone rings.

The Caller ID displays “Card Services” and a toll-free number.

You pick up the phone, and an automated voice informs you that “your card has been compromised.” It gives you a phone number to call to take care of the issue. The phone number is the same number on the Caller ID display.

Now…what should you do?

If you answered, “hang up and ignore the call,” you’re right.

Currently, there is a move towards integrating older technologies with the Internet. Eventually, I believe these technologies will be fully integrated; your television signal, Internet connection and telephone service will all be traveling along the exact same lines as part of the same service. These different technologies will also become more “seamless” over time—there will be less of a distinct divide between how you use your TV and your computer, and between the content you will receive from both. Okay, you’ll probably still use your phone to call Mom, but the signal will be digital, and it will be traveling through the Internet.

However, there is a downside, at least for the time being: vishing. Using Internet telephone services (Voice over Internet Protocol, or VoIP), criminals are able to spoof Caller ID information, to make a phone call appear to be from a trusted entity such as a financial institution or credit card issuer.

Let’s face it, you’re more likely to believe a call from “Card Services” than you are a “Blocked Call” or “Unknown Caller.” And that’s the basis of how Vishing works.

What happens if you call the number as instructed? You will be instructed to enter your credit or debit card number, expiration date, PIN and other security information. This is pretty much everything a crook needs to use your card for fraudulent purposes. They might also attempt to get your personal information, such as date of birth or Social Security number—basically, everything they would need to commit identity theft.

Stay Vigilant

Nobody is ever 100% safe from fraud, scams or identity theft. Even if you’ve done everything possible to prevent becoming a victim, it can still happen.

Take, for example, the data breach at Heartland Payment Systems a few months ago. Through no fault of their own, thousands of people experienced unauthorized use of their credit or debit cards. It wasn’t that they fell for a phishing email or a fake phone call. They simply made a purchase or two at a store or restaurant that used Heartland as their card processor.

However, there is no reason to panic. By taking simple steps to stay safe on your end, you can drastically reduce your chances of becoming a victim of fraud.

The key is to be informed and vigilant. Know what the threats are, know how to spot a scam and keep a close watch on your financial statements, and you’ll be miles ahead of where the crooks would like you to be.

That’s why REGIONAL Federal Credit Union is bringing you this new website. We believe that education is key to achieving financial security and independence.

It’s not all doom and gloom, though. In fact, it is my aim to make this site as entertaining as possible (despite the admittedly bone-dry seriousness of this first post). I’ll be posting some Video Dispatches from the FPU very soon. Be sure to check those out. There’ll be enough weird props, strange pop culture references, silly music and bad acting for everyone, and you’ll learn something, too.

I’ll be learning, too. After all, there are new variations on these scams popping up all the time. It will be a chore to keep up, but I will do my best. In the meantime, questions, comments and suggestions are always welcome! Use the comment function below, or email me directly at cturpen@regionalfcu.org. Also be sure to follow the FPU on Twitter (@fraudprevunit). I’ll be posting tips and updates there as well.

And always remember: stay vigilant.