The Safe Money — Internet & ID Theft Scams Spiraling out of Control — ASSET PROTECTION UPDATE

The links below contains some good information about how ID thieves and criminal gangs are capitalizing on current economic conditions and confusion among consumers.

As you know, we have always advised our friends and clients to guard the assets of their identity and credit as carefully as their more tangible assets. These assets are more valuable than ever before, please take a moment to review these points.

CLICK HERE FOR USA TODAY STORY ON IDENTITY THEFT

FRAUD AND IDENTITY THEFT ARE ON THE RISE – TAKE SIMPLE STEPS

When times are tough all types of fraud increase, not just the lawsuits that are typically the focus of these updates. In addition to the obvious financial exposure of having someone access your identity and accounts is the risk to your credit. ID theft can take years and thousands of dollars to fix. ID thieves are trolling nice neighborhoods like yours and stealing trash and mail from your curb and mailbox, as well as using more devious and intricate methods like fake notices that your anti-virus software has expired and you need to click to update.

An excellent source of information on these issues from the Federal Trade Commission can be found here.

Some basic tips:

1. Use a shredder for anything with an account number both at home and at your office. This includes things that you would typically put in your office trashcan. Would you let the person who empties the can at your desk have your checkbook?
2. Protect personal information of your employees and clients like it was your own – they will hold you responsible if that information is compromised. Make sure that such information is locked up, password protected and ideally traceable, i.e. who logged in and when if stored electronically.
3. Update your computer security software and make sure your anti-virus and spam ware is regularly updated and correctly functioning.
4. Be careful about the detail of information available on you online, especially in the age of business-social networking. If you are reading this we have probably had a discussion about distancing yourself from title to certain assets. I am continually amazed about the personal details about assets and family that people put on line.
5. Check your credit and the credit of your children regularly. ID thieves have started accessing the SS numbers of children and using them as clean slates then running up thousands or more of bad debt. In many cases the family is unaware that this has happened until years later or until the collection calls start coming.

As always – call or email for help or more info on any of these issues.

Yours, Ike Devji