Articles in the Finance category

How Your Identity Could Be Stolen Through The Web

Identity theft is becoming an extreme menace that can’t be contained, but it could definitely be stayed away from. A person needs to keep himself alert at all times, while he uses the web for his work or monetary transactions. The possibility of social security theft is also on a rise because it gives the identity thief; an endless series of advantages at the victim’s cost. Now this may sound difficult, but it does happen to often now.

There are many simple and complex methods that an identity thief would use, in order to carry out his sinister plans. Here is some of his possible modus operandi.

  1. Hacking into employer’s database and taking the personal information
    When someone joins a company for work, they also give information about themself, which includes previous job details and experience. It also includes his social security information, so the income tax department may be informed about the transactions of salary that happens between employer and employee. If the database is hacked, the information could be stolen and misused.
  2. Phishing emails and phishing websites
    At times, it appears that genuine email has come from a reputable firm or lottery agency and the recipient has won a great amount of money. On the other hand, it’s a phishing website that appears the same as the site of financial institution, which the target victim uses. Once someone clicks on this email or website and provide their personal details or login, with username and password; he is trapped. Now the hacker could get all the necessary details they require.
  3. Personal computer hacking
    This is the most used method by the identity thieves, which has been in use for many years now. This old trick is worked upon by hacking into someone’s computer through internet. When the system doesn’t have a good antivirus, then the possibility of being infected by a spy bug, which has been sent by an identity thief; increase. These hackers can easily access everything, even the deleted files in the system.
  4. Social networking websites
    It is the most open and common place, from where a thief could get all the personal information he needs. People post all their personal details, such as addresses, birthdays, full names, photos, locations and more. This is a great source of material to prepare a social profile for a thief. But it harms the actual person posting it. Hence, one must never post too much information on social media.
  5. Burglary
    It is an old method by which a professional burglar would not just steal the valuables, but also the important document. And to hide the actual theft of information, the thief would start the house on fire. This way the owner or the victim gets the documents reissued, without knowing that the originals never got burnt in the first place. The stolen documents are then used by the identity thief for his own benefit.

A Few Things to Remember

Identity security is indeed a great matter to take care of, but people seldom pay attention to it. Here are few ways one could protect his identity from being stolen.

  • Never give away information to strangers
    A lot of time it happens that a phone call comes from the bank, asking for account details because there has been a problem with the banking that the victim may have transacted lately. However, there is no bank that call clients and asks for information, but whosoever falls in this trap; pays dearly. Never give away any personal information pertaining to finance to strangers on the phone.
  • Keep data closer and digital media closer
    One must always keep their information stored in a safe place, which could be accessed only by them. On the other hand, they must also keep all Smartphone, laptop, external hard drives, computer and pen-drives with them. These things should never be bestowed upon someone new.
  • Be updated
    One always keeps abreast with the latest news on identity theft. It will give them a good outlook on the possibilities of identity theft. An alert person could always avert the dangers of being manipulated by the information stolen and used.

In short, social security details may be stolen anytime, but a vigil eye on the financial reports and bank statements every month or once in a while; would keep a person alert and safe. Identity Protection

Check Your Credit Report Regularly and Beware of Identity Theft

All of us know the importance of credit report in our lives. Our credit report show our personal information such as your legal name, alias names, addresses, current and previous employers, and date of birth.

We also have that credit report summary showing the following:  

-  Current and past credit status

-  Total number of open and closed accounts

-  If the balances of our accounts are current or delinquent

-  Public record information such as federal bankruptcy records local government court records, liens, judgments, and child support records (information that can stay in your record for up to 10 years)

-  Credit inquires that we use when applying for a credit card or loan

-  Detailed account history - very up to date information about your loan payments

-  Credit card debt and payment history -  Credit score.

Your credit score is a number ranging from 330 to 830. The higher the number assigned to you, the better your credit is. It increases the chance of you obtaining a loan or credit account.

The Experian, TransUnion, and Equifax are major credit bureaus collect, maintain, and distribute our credit information.

Our credit report does not also end with our financial matters. We also use our credit report for a variety of purposes not related with mortgage and other loan applications.

Auto insurance companies often request us for copies of our credit reports as part of the process in applying for auto insurance. Our employers may also request for our credit reports as basis in deciding whom to hire for a specific position. Our credit report may also be the important link for us to know if we have become victim of identity theft!

Identity theft is a criminal act wherein our personal financial information, supposed to be confidential, are obtained through illegal means and used for unauthorized purchases and transactions.

The most common forms of identity theft are the credit card fraud, bank fraud, communications services, and fraudulent loans.

The audacity of an identity thief is shown in his/her use your personal information, which could be result to a financial disaster and a damage of reputation on your part. Falling victim to this harmful activity could impugn your financial reputation for many years to come.

There are a lot of thing you can do to minimize the risk of becoming a victim of identity theft. This article focuses on obtaining and reviewing your credit report, quite similar to what we do when we perform network security assessments.

The information from our credit report reflect our credit and consumer habits. Unless you make efforts to obtain necessary credit reports, you may never know how credit worthy you is or not. Obtaining credit reports is also a way to check if you have fallen into the insidious identity theft crime.

Verifying and frequently checking your credit report is a good means to make sure no one has obtained your identity. You may think that it may not happen to you, but there is nothing wrong by being doubly sure. If ever there are evidences pointing to the fact you are being robbed of your identity, then you can quickly act upon it. Avoid major damage to your personal and financial reputation that took you so many years to establish.

Here are ways to check your credit and see if there are evidences of your credit account being used by identity theft:

1.  Carefully examine your credit report copy upon receipt or use a credit monitoring service to have your reports monitoried daily.. Look into the section dealing with inquiries against the report. If you do not know about this yet, well, every time you apply for a loan or credit card there is an inquiry initiated against your credit report.

You will recognize the inquiries against the report if you are the one who have applied for a loan using your credit account. However, if you notice certain entries you do not recognize, immediately notify the credit-reporting agency.

2.  If you notice errors, such as a bill paid off but still show as outstanding on the report, then notify the agency and request for it to be removed. You must follow up personally on these corrections and make sure that your specific request has been acted upon.

Be alert always and take the issue of identity theft as a serious threat to our good name. Make sure that your personal and financial information never get into the wrong hands. It is for the good future of your family, too.

Child Identity Theft Facts

How to Check If Your Child is an Identity Theft Victim   

Want to check if your child is an identity theft victim? Of course you do, but how? Or, maybe you noticed something fishy in the mail, like a credit card application in your child’s name, well, guess what, it’s likely your child has become a victim of identity theft. But how do you prove it? The best way is to contact one of the three credit bureaus, or better yet, all three credit bureaus, to see if they’ve opened credit files in your child’s name. An easier way would be to go to to order their credit reports or use an identity theft protection service like LifeLock to check their credit reports on your behalf.

If you go the credit bureau route, it’s essential that you do so in writing so that you can prove that you have a relationship to your child and are not just digging for information. When you make the request, you’ll need to include copies of your child’s birth certificate, his or her Social Security card and your driver’s license. You don’t want to send the original documents, and paying a few extra bucks to get it there securely is a good idea.

The optimum result will be that the credit bureau or whoever gets back to you and tells you that there is no record on file for your child. Since your child doesn’t have and isn’t applying for credit they should have no credit record and thus no credit report. If you find that your child has no report, resist the temptation to check back every month or so to determine whether or not this is still the case.

If you cause repeated inquiries, this could end up on your child’s credit report, which would actually make him or her more likely to become a victim of identity theft – the exact situation you are trying to stop or prevent. Instead, if there are no further incidents that trigger suspicion, stick to checking it every year or two.

If you’d like more of an ongoing monitoring type of situation, you can register your child for an identity theft protection plan. Usually, for minors, the plans only cost a few dollars a month or less. If you’re looking into buying an identity theft policy for yourself, see if you can add your child or children onto it for what will likely be a nominal charge. TrustedID includes children in their family plan which costs $240 and LifeLock charges $22.50 per child under 16 (one adult at $99 per year is mandatory). LifeLock will even confirm with the bureaus that no credit file has been opened.
Identity Thieves May Be Closer To Home Than You Think

they report on this after everyone has already used myspace and facebook…too little and too late…Irealized facebook was risky years ago….i realizedinstant messenger was dangerous years ago…itdanforumssays: November 30, 2011 at 8:16 pm

You can get identity theft protection for only $12.95/month at daniil(.)prepaidlegal(.)comprotect your familyxxioddexxsays

@frededison How? They are already dead! Like my father, he died but his account can’t be activated!xxioddexxsays: 

@YouTman99 They are doing identity theft because making ads on fb can make you earn alot of moneybenneclarksays: 

@hollybelote You can use the child identity, such as their social security number, and by the time the child come of age, their credit will be ruin!mda7112says: 

A childs identity can be stolen for years before anyone realizes it. I recommend Lifelock. Promo code SAFEID1 will earn you 10% off.deadreck024says: 

get a life people this is not newsfrededisonsays: 

They steal dead people’s identities, too.hollybelotesays: 

why steal a childs identity? the parents have the money not the child.crazyjorge2111says: December 1, 2011 at 12:08 am

happens all the time i hate the way people want to use kids. But credit card companes sud no when they look up ur kids social security number that there not an adult lolstalag58says: December 1, 2011 at 12:55 am

and the majority of those stealing child identities are illegal spic scumxSweetMirasays: December 1, 2011 at 1:27 am

im glad idk anyone who’s identity got stolen

of course i garentee there’s a few people in the world with our same first and last name, but our ssn can be different

like @ttran8385 said, targeting little kids makes me sick.animal abuse also makes me sick.ttran8385says: December 1, 2011 at 2:25 am

It’s sick when people target little kids my god!

Read more about preventing child identity theft at

Five Hot Tips On Credit Card Consolidation

Here are some great tips on credit card consolidation to help you manage your debts more efficiently.

1) Draw up a financial allowance. Yes I comprehend it is boring but you will never be in a position to get out of debt until you know exactly how much you earn and what you spend your cash on. As a way to get a real picture you ought to keep a spending diary for a month. Write down every cent that you spend. This is the only way you will be able to find those holes in your spending that must be plugged. It will also highlight areas that you could cut down on in order to release money to pay towards reducing the money you owe.

2) You ought to make an index of all of your creditors stating their name, your bank account number, the total amount you owe, the least monthly repayment and the monthly interest you currently pay.

3) Now you must your available funds and the checklist of your financial situation, you can see how much extra a month are able to afford to start paying to eradicate your debt. When you are completing this exercise you ought to keep your least monthly payments going.

4) If your accounts are up to date and you have an excellent record with these credit card businesses, ring them up and ask them if they are able to do you a special deal on the interest rate you are paying. You could be pleasantly astonished when they say yes. The low the monthly interest, the more of your money will go to reducing your finances. They might expect you to move your other debts to their card in return for a good deal. This may be the best way to accomplish credit card consolidation but don’t start anything just yet.

Ask them to affirmed the deal in writing making sure that they confirm the costs and the percentage minimum monthly repayment you may be expected to make. You can then review these offers and pick the best one for you. Don’t always opt for the lowest interest. 0% over 6 months is great but 2% over 24 months is better if your financial allowance has indicated this is how long it will take to clear the money you owe.

5) If your current creditors won’t help, don’t be tempted to take out a loan secured on your property to repay these debts. This is one of the last solutions you want to do as effectively you are giving your creditors more protective cover and yourself less. The best bet before you enter into any form of consolidation is to talk to a qualified advisor first. Don’t pay for this advice as plenty of charities will provide it for free. Remember you are on a mission to cut your spending as a way to get out of debt.

Avoid These Day Trading Scams

We decided to give this company a try prior to writing anything regarding them. There is a lot of unfavorable chatter on the internet regarding the dishonesty level of their Fx Signals service so we had to see for ourselves if it was accurate or not. Regrettably, it’s all correct. The performance stats they publish, including all the trade details, are entirely and totally different than what you would likely get. They are not even close. There is no questioning it.

Whenever we emailed them regarding inconsistencies with the trades, they would speedily respond “Oops, thanks we will fix this immediately” which would come from the CEO Mauro Sciaccaluga yet nothing was ever fixed. When we asked to terminate our subscription and for a reimbursement per their guarantee, there was no reply. Not really a large surprise. If the program is fake, so would their money back guarantee. Hopefully no one is crazy enough to buy into their Lifetime subscription offer. Lifetime offers are generally tip offs to scams.

Is there any means of getting our money back? No! Because Mauro uses for his transaction plimus which works in a related manner to paypal and because his product is a service, under their user agreement, they do not supply charge backs on services. If it was a product, perhaps we would have better luck.

An additional item in which we find is very suspicious is their relationship with the forex broker AvaFX. Buy Forex Signals gives members a free subscription to their services when you open an account with at least $500 at AvaFX. Why is this suspect? AvaFX is a Dealing Desk Market Maker broker which signifies they take the other side of your trade. If you win, they lose. If you lose, they win. Consequently it’s obvious to say that very much like a gambling establishment in Las Vegas, they want you to lose and how else better to do so than with the use of the losing signals you will get from When it comes to foreign currency brokers in common, it would be sensible to stay away from Dealing Desk Market Makers. They are equivalent to online gambling sites that do not want you to win. They will do everything in their power to make investing tough for you with stop loss searching and re-quotes. And if you happen to overcome them and turn a profit in your account, chances are they will turn up the heat and make it even more hard until they can get you to blow out your account.

So what are the 3 lessons discovered here? One, be very cautious when purchasing a Fx Signals service or any program for that matter utilizing Plimus, paypal or any third party service as your method of payment. Your best bet is to merely utilize your credit card directly as payment. If Paypal or Plimus is all that they utilize, then turn away. No one is that exceptional to where you must take on the threat of losing your cash.

2nd, which is a lot more essential and will override the 1st, never ever shell out for a trade predicting program whether or not it’s Forex, Stocks, Bonds, Futures or anything that is predictive unless they supply a FREE TRIAL. The demo ought to be for a minimum of two weeks. If they do not provide a test, run like heck because chances are that they have got practically nothing good to provide and they are banking on you buying into their seductive pledges of large profits for a Month, Quarter or a Jackpot (to them) One Year subscription. Pertaining to frauds such as these, it is not really about renewals; it’s about creating that one particular sale. A purchase that is nothing more than a scam to take your money.

And ultimately the 3rd lesson; be wary of Dealing Desk/Market Maker Forex Brokers. Their business model is built to profit via your losses. That is not a broker you want or ought to be doing business with, specifically when they partner with questionable businesses that do nothing but provide you with losing trades.

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