This type of identity theft is also known as The Silent Swindler.  It will typically happen when the identity theft uses either a mixture of real and fake or totally fake information in order to create for themselves a new identity. Typically the identity thief will use a real Social Security number with a different or fake name that is associated with that number. This type of identity theft is difficult to tract, report, and detect since the individuals were not aware of it happening.

The reason that the individual is not aware of it happening is that it does not appear on your credit report.  It is a combination of addresses, names, Social Security numbers and more so all this information does not ad up to a single person to claim fraud but a combination of different people.  Most of these will go unreported and eventually will be written of and become charge offs within the financial institution before anyone is aware of the problem.

You can protect yourself from Synthetic Identity Theft by making sure that you shred sensitive documents and mail because identity thieves have no problem going through your trash to find any type of personal information that they can use to steal your identity.  When you get those Social Security benefits booklets make sure that the income that is reported is accurate and there are no discrepancies.

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College campuses are a breeding ground for credit card, computer, and identity theft so students that are heading off to college need to be prepared.  One way that you can prevent any type of theft from happening is make sure that you keep your door locked.  This is one way to prevent your computer from being stolen or any personal information that you might have left lying around plus any credit cards that you have with you.  You should always mark your property in a permanent and visible way.  Sign your credit cards with a sharpie to prevent it from being erased off. Before you leave home engrave your name into your computer somewhere or write some type of identifying mark with a permanent marker that is not erasable like a sharpie.
Even if you have a desktop computer that does not mean that it is safe from being stolen. Invest in some type of inexpensive cables so you can anchor it to something in the room that is not moveable.  Identity thieves not only want your computer or laptop to get information from, they will sell the merchandise on the black market when they get what they want out of it. The same things go for iPads, Notebooks, and Tablets.

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It may be hard to believe but many customers and merchants are most likely to become a victim of identity theft caused by one of the employees rather than by a scamster or criminal outside of the business.   When you get ready to pay and you have a choice of paying as your leave or in a restaurant setting giving the card to a waiter you should opt to pay at the register.  By doing this you are taking the necessary precautions to keep your card from being skimmed which is a scam where the employee takes an unauthorized scan of your credit card.  If you have to give your card to a sales clerk or a waiter try to keep the card in sight at all times.

Make sure that you get your credit card back quickly from the sales clerk or the waiter.  At some bars if you are running a tab the bartender will want you to give them your credit card to keep at the register so you will not stiff the establishment of money.  Do not do this because if the credit card sits at the register or bar it not only get lost or if you have a little too much to drink you may forget to pick it up.  In addition, it might get skimmed or an employee or someone else sitting at the bar that can see the card might take a picture of it with a cell phone camera.

You should also be looking for security cameras because PCI data security standards has a requirement that makes sure merchants who process credit cards in person have to have security cameras trained on the areas of credit card processing but unfortunately many of them do not.  Another area that you should be concerned about is tip fraud which means that whenever you add a service tip onto your card you are risking a tip fraud.

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There are many times when you may be out shopping and see something that you want to buy but are not sure if you have the money in the bank so you whip out your Smartphone to check your bank balance but is that a smart thing to do?  Are you safe from being hacked and having an identity thief get your personal information and cleaning out your bank account?  There are some people who are nervous about using their Smartphone for online banking and will use a credit card for the purchase instead of checking their balance via their Smartphone.

Here are some things that you should and should not do to make using your Smartphone for your online banking needs.

Do….

• Make sure that you stick to using your bank’s apps for mobile banking.  If there are any well-reviewed and trusted third-party personal finance apps you can use them instead.  These you can download directly from the app store for your Smartphone type.
• Look at your phone as a personal computer and you will be able to minimize your risks of identity theft or being hacked. One thing that you can do is for identity theft protection is to install antivirus software on your Smartphone just like you would do for your laptop or computer.
• Make sure that you keep track of your Smartphone and know where it is. If you keep it in your purse make sure that it cannot fall out or that no one can steal it from your purse.  When you are out and about check often to make sure that you have your Smartphone with you.

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It seems like credit card fraud and identity theft are the two things that are in the news more today than ever and people are wondering what they can do to protect themselves from becoming a victim of credit card fraud or identity theft.  One of the first things that you should do when you get a credit card is to sign your name on the back of it and make sure that you do not keep your PIN number with the card or tape it anywhere on the card just in case it is stolen or hacked because identity thieves do not need your credit card to get into your account.

Whenever you use your card in public do not let anyone see your account number and make sure that if you have to use your PIN number do not let anyone see you type it in.   You should also be careful about letting your credit card out of your sight because it can be scanned to get your information.  If you move make sure that you notify the credit card company so your statement will come to your new address and not be laying the mail box at your old address.
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