Fear of Fraud trumps Terrorism

By
Services for Real Estate Pros with IDTheftSecurity.com Inc

Okay, what’s more likely? Getting bombed … or some punk racking up charges on your credit card?

The yearly Crime Poll says that two-thirds of the respondents were edgy about data breaches involving their credit cards, as well as their computer and smartphones getting hacked—far more so than being robbed or taken hostage.

It’s easier to thwart a mugger or burglar than it is to thwart cybercrime. Just because you never click links inside e-mail messages doesn’t mean a cybercriminal won’t still figure out a way to nab you.

Interestingly, many people who’ve been digitally victimized don’t even bother filing a police report, says the survey. But a much higher percentage of burglary and mugging victims will. 

Maybe that’s because 1) They know it will be easier to catch the thug, and 2) It’s way more personal when a masked man jumps you on the street and hits you with a brick, versus some phantom from cyberspace whose body you never see, voice you never hear, hands you never feel—even though they drain your bank account dry.

But which would you rather have? An ER visit with a concussion and broken nose from the mugger, or a hacked credit card? The Fair Credit Billing Act allows you to dispute unauthorized charges on your card statement and get other things straightened out. And until you pay the whopping bill, your account isn’t robbed.But if someone hacks into your debit card, they can wipe out your checking account in a flash.

The good news is that often, cyberthieves test the waters of the stolen data by making initially small purchases…kind of like a would-be mugger feeling out a potential victim by initially asking her for the time or “accidentally” bumping into her.

A credit card can have varying levels of alerts that can notify the holder of suspicious activity. An example is a charge over $1,000 nets a text message to the holder about this. However, if you set a much lower threshold, you’ll know sooner that the data or card was stolen. Don’t wait till the thief makes a huge charge to be alerted. The lower that threshold, the sooner the card company will contact you and then initiate mitigation.

You know how to prepare for a mugger (pepper spray, self-defense lessons, etc.), but how do you protect your credit and debit cards?

  • Check your credit card statements thoroughly.
  • Don’t put off contacting the company over a suspicious charge.
  • All of your devices should require a password to log on.
  • Use encryption for all of your devices.
  • Always use your bank’s ATM, never a public kiosk.
  • Never let an employee take your card out of your sight.

Robert Siciliano is an identity theft expert to BestIDTheftCompanys.com discussing  identity theft prevention. For Roberts FREE ebook text- SECURE Your@emailaddress -to 411247. Disclosures.

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Rainmaker
5,212,257
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Robert.... I saw you on channel 5 the other evening.... this topic is very frightening.... my american express company caught fraudulent use of my card that was done in pennsylvania!!!  someone bought 3 or 4 ipads and other electronic pieces.... they credited the charges...what a horrifying feeling....they sent me a new card immediately....

Dec 30, 2014 09:18 PM #1
Rainmaker
1,248,058
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

My sister is with a BIG state bank and does not use her credit card and they got her when they hacked the BIG bank.  I use a credit union and have credit cards EVERYWHERE....Hackers want the ODDS so they go for the LARGER banks/credit cards....another reason not to have "retail cards" like Target, Lowe's, etc.

 

 

Dec 30, 2014 09:34 PM #2
Ambassador
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John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Good morning Robert. 

It seems no matter what we do the little punk cyber thugs are lurking at every corner.  We have to try to stay on step ahead of them.  Your constant information is a huge help.

Happy New Year!

Dec 30, 2014 11:07 PM #3
Rainmaker
820,958
Maureen Bray Portland OR Home Stager ~ Room Solutions Staging
Room Solutions Staging, Portland OR - Portland, OR
"Staging Consultations that Sell Portland Homes"

Great tips. What's the best way to prevent a restaurant employee from taking your card out of sight in order to process it?

Jan 01, 2015 02:56 AM #4
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Robert Siciliano

Realty Security and Identity Theft Expert Speaker
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