After being scammed for over $500,000, one man paid one such company $6,500 to recover his stolen savings. A year later, he’s received nothing — and he’s not alone. Like countless other cryptocurrency scam victims, this southern California man’s story began the same way: an unsolicited text message from someone who said they had the wrong number in late 2021.
Weeks of texts later, the man, who Forbes agreed to identify by one of his initials, “M,” realized that he had been conned, and had lost over $500,000 – 10 years worth of his financial savings. Immediately, M went to his local police department, which he says declined to take a report, telling him to go to federal authorities instead. After a few more weeks went by, M was feeling frustrated that his case wasn’t advancing quickly enough with conventional law enforcement.
So he turned to CipherBlade, a company that claims to have recovered “millions of dollars of stolen cryptocurrency.” M signed a contract with the company, agreeing to pay $6,500 for “up to” 10 hours of work. If CipherBlade helped recover any of his money, they would also get 12.5% of that, too. But now, more than a year has passed, and M hasn’t gotten a dollar back.
“Practically all such private services require upfront payments regardless of the outcome. The reason is obvious: if they were to receive funds only when the victim actually recovers losses, most of them would be out of business very soon.”…..Binance
Pig butchering, as it’s known, is a new type of online con perpetrated by overseas scammers who “fatten” up victims – making them believe they have made boatloads of money in cryptocurrency often using manipulated apps and websites – before absconding with all their money. Experts say billions of dollars are lost to this type of pernicious scheme each year.
The hard truth is that recovering money lost to crypto scams is extremely rare, even when law enforcement does take up a case. But in recent years, a nascent industry has cropped up, offering services that promise to do just that. These companies convince consumers to spend more money in order to recover their already-lost sums, with scant evidence that they regularly work as advertised.
Multiple U.S. financial and law enforcement agencies, including the Federal Trade Commission and the Commodity Futures Trading Commission, generally tell scam victims to treat these services with a healthy dose of skepticism. That’s because even if one of these companies is involved, law enforcement still has to do its own independent investigation — for which victims aren’t charged. Plus, no private company has the authority to compel the freezing, much less the seizure, of crypto assets held at an exchange.
There may be some relief on the way for consumers on credit card late fees..getty
Credit cards are not easy for visually impaired people to use because they can’t always see the terminal to know where to insert their card. But the main challenge for blind people is that they can’t confirm whether the price the retailer keys in is accurate. To alleviate that problem, French tech firm Thales has developed a credit card that talks.
This credit card doesn’t only contain a payment chip but another piece of electronics that enables you to connect it to the user’s cellphone. This connection enables the reception via Bluetooth of all the information that is displayed on the card payment terminal. The smartphone then vocalizes that transaction through a speaker or headphones in French, English or a number of other languages. [Marketplace]
What Fed Rate Increases Mean for Mortgages, Credit Cards and More
As the Federal Reserve has lifted its key interest rate several times over the past year, Americans have seen the effects on both sides of the household ledger: Savers benefit from higher yields, but borrowers pay more.
Credit card rates are closely linked to the Fed’s actions, so consumers with revolving debt can expect to see those rates rise, usually within one or two billing cycles. The average credit card rate was 19.9% as of Jan. 25, according to Bankrate.com, up from around 16% in March last year, when the Fed began its series of rate increases. [The New York Times]
Credit Card Debt Rose Hand in Hand with Inflation Last Year
In the last quarter of 2022, the average credit card debt per borrower increased to $5,804, compared to around $5,100 for the same period in 2021 and 2020. Overall, collective credit card balances reached about $930 billion in the last quarter of 2022, an 18.5% jump and new record high, TransUnion says.
That tracks with previous third-quarter data from the Federal Reserve Bank of New York, which found credit card balances increased to $930 billion, a 15% year-over-year uptick. [Money]
85% of Consumers Feel More Secure in Life with a Healthy Credit Score
Of U.S. consumers, 85% say they feel more secure in the rest of their lives when their credit score is healthy, according to a national survey released by FICO last week. It also found that about one-third of Americans feel financially insecure, and 43% say the unstable economy is a barrier towards achieving financial goals. The survey results suggest that even during periods of economic uncertainty, good credit helps people feel more in control. [The Motley Fool]
Record $3.8 Billion Stolen in Crypto Hacks Last Year
A record $3.8 billion worth of cryptocurrency was stolen from various services last year, with much of those thefts driven by North Korean-linked hackers, according to a new report. The increase in crypto heists, from $3.3 billion in 2021, came as the overall market for cryptocurrencies suffered significant declines.
The value of Bitcoin, for example, fell by more than 60% last year. North Korea was a key driver for the surge in thefts, according to the report. Hackers linked to the country stole an estimated $1.7 billion worth of cryptocurrency through various hacks in 2022, up from $429 million in the prior year. [CNN]
It’s Live! Delta’s New Credit Card Benefit for 15% Off Award Flights
Delta and American Express officially launched TakeOff 15, a splashy benefit for both new and existing Delta SkyMiles American Express credit cardholders that gets you at least a 15% discount on SkyMiles award tickets booked through Delta.
TakeOff 15 is a new benefit for Delta SkyMiles American Express cardholders that provides at least a 15% mileage discount when redeeming SkyMiles for Delta-operated award flights. It’s available on both consumer and business versions of the Delta SkyMiles Gold, Platinum, and Reserve credit cards. [Thrifty Traveler]
Beyoncé Is Going on Tour, and a Citi Card Can Help You Get a Ticket
The demand for Beyoncé’s latest tour is sure to be astronomical for this global icon who hasn’t toured since 2018. If you’re hoping to catch one of Beyoncé’s U.S. concerts, your Citi card could help you score these coveted tickets. All Citi cards that have the Visa or Mastercard logo and Citi debit cards with the Mastercard logo are eligible.
Before registering for the Citi presale of your choice, you’ll first need to add your qualifying Citi card as a payment option in your Ticketmaster account. After adding the card to your Ticketmaster account, you’ll then have to complete the Verified Fan registration to access the presale. [NerdWallet]
American Express Launches Financial Management Tools for Small Businesses
American Express has launched a new service for small businesses that provides a way to manage their finances from a single point, a service which they call American Express Business Blueprint. Built on the Kabbage platform, which American Express acquired in 2020, Business Blueprint features cash flow insights and a way to buy digital financial products, such as a line of credit, from American Express. [Forbes]
Mastercard, Binance to Launch Their Second Prepaid Crypto Card in Latin America
Credit card giant Mastercard has teamed up with the world’s largest crypto exchange to launch another prepaid crypto card in Latin America. On Monday, Binance announced the launch of the Binance Card in Brazil. The new card is issued by Dock, a payment institution regulated by Banco Central do Brasil, Brazil’s central bank.
The new card will allow new and existing Binance users in the country with valid national IDs to make purchases and pay bills with crypto assets. The card is in a beta testing phase and will be widely available in the coming weeks. Brazil is the second country where Binance has launched the product, following Argentina in August. [Coin Telegraph]
Will Digital Wallets Kill Credit Cards?
Digital wallets, also called mobile wallets, are gaining popularity for their convenience and ease of use. Despite their growing popularity, digital wallets are still quite a way from cornering the payment market, in part because merchants are slow to adopt new payments processing technology.
While mobile wallets probably won’t be the default anytime soon, it’s not out of the realm of possibility to think we’ll do away with plastic credit cards in favor of digital versions sometime in the next few decades. [The Motley Fool]
The Capital One Venture X Business Card Will Launch Next Week
Last year, Capital One quietly launched a small-business rewards card available exclusively to clients with a Capital One Relationship Manager. The Capital One Spark Travel Elite card was noticeably similar to the issuer’s premium credit card, the Capital One Venture X Rewards Credit Card, with parallel earning rates, travel benefits, and annual fees. Now the cards are even more aligned.
The Capital One Spark Travel Elite card will rebrand next week as the new Capital One Venture X Business Card. The Venture X Business Card won’t be available to just anyone. As with its previous incarnation, you’ll need to apply for the card through your Capital One Relationship Manager. They’re like a liaison between business owners and the bank who help arrange accounts, loans, and other credit. [Business Insider]
There are more and more remote workers in the modern age. Companies are realizing how effective it can be to have their staff based at home and opening up the possibilities of employing people without having to worry too much about where they are based. Generally, most of the consequences that happen after your identity is stolen have some sort of financial gain for the criminal.
As a remote worker, it could be that someone is looking to steal your data to gain access to the company you work for. Organizations need to be especially careful. As an employee, this doesn’t fall solely on you, but it is important that you consider the best practices for keeping data safe.
How to Prevent Identity Theft
If you’ve found this article in advance of having to deal with the consequences of identity theft then there is still a lot you can do to hopefully ensure you never have to deal with it happening to you. If you are working for a large company or your data is particularly sensitive, it makes sense to outsource all of your online security. There are organizations that know exactly how to keep your ID safe and secure and can help both individuals and organizations, even large organizations might find that they are lacking in precautions.
The best thing to do for peace of mind is to work with the professionals and make sure that identity theft doesn’t become a big hassle for you in the future. Now, this might be a different story for business owners who work remotely. Many remote business owners get targeted for online identity theft. This can prove deadly for the business; many businesses fail right after they get their online security breaches.
It is essential for every company on the internet to implement security measures for it to succeed. This could be achieved either by outsourcing your identity security or, you can do it yourself. Even though it is advised to leave it to the professionals, you can still tackle this problem and be safe on the internet:The most important thing you should do is doing your research thoroughly regarding this issue.
It is essential because it not only involves buying software or implementing new technology. It also requires education and hours of reading and watching videos. Hence, it is more complicated than you think. You may find more information here.
There are some basic things you can do: Change passwords regularly and generate them rather than just use your cat’s name! People will find a way to get through basic and simple passwords so they should use a lot of different characters. Never automatically trust a link that is sent to you. Check if the website is secure and don’t put any details in on a site that you have even one doubt about. Things like online banking are prime examples.
Always visit their sites through your browser rather than just clicking on a link in an email. This is prime for someone to take advantage of phishing. Have a high-quality anti-virus on your computer. If you are running a big company then you should definitely ensure you have access to this for all of your staff. Don’t mix work and personal life. A working computer should be for work and your personal devices should be for your own accounts on things. If you log into work emails on a laptop that is yours, and you don’t take the right precautions, you could be accountable if anything happens.
How to Tackle Identity Theft When it Happens
If the worst does happen and you find yourself a victim of identity theft, don’t panic. There are steps you can take to try and minimize the damage. If you want to, you can contact the specialists. Again, there are specific companies who can deal with identity theft and help you to ensure that you deal with everything in the correct manner, rather than making mistakes along the way. You should look to get a fraud alert put on your credit report, this can limit the damage of any credit taken out fraudulently in your name.
Report to the FTC. This is one of the first steps you can take. There is a simple form that you can fill in on an FTC site, IdentityTheft.gov or you can call to speak to a member of staff. Try to gain as much evidence as you can when you are talking to them, ready to show exactly what is happening to your accounts. Go to your local police. Different police forces deal with the issues in different ways and the location where the offense happened might play a part, but authorities should be alerted straight away. Freeze credit cards and bank accounts. Stop anything negative from happening while you wait to establish what steps you are going to take.
Freezing lines of credit can allow you to ensure that you do not run up further debts without spending anything! Your credit card might be being used on the other side of the world. Change all of your passwords. One breach is enough to ensure that you should get new passwords for every account you have including social media. Alert your work if using a work laptop or if the ID theft is in any way linked. If you fear that these details could lead to issues for your workplace then there is no way you should keep it from them. If you need to, you can still contact specialists in identity theft who can walk you through all of the steps required to try to get your life back on track.
Conclusion
There is no denying that identity theft can have a huge negative impact on your life, and even on those close to you. If it isn’t properly dealt with then it could keep having an effect decades into the future. If you haven’t suffered from ID theft yet then you can take steps to ensure your security. If you are working with a company and are worried about their data then this is another reason to take security seriously.
Just a few simple precautions can make all the difference, and you need to know what techniques and tactics current fraudsters are using to try and steal your information.
“Over The Shoulder” techniques. Someone can watch your input data. It’s as simple as that. If you are in a co-working space, for instance, you might be targeted by someone looking to steal your data.
“Over The Shoulder” techniques. Someone can watch your input data. It’s as simple as that. If you are in a co-working space, for instance, you might be targeted by someone looking to steal your data.
You need to have your guard up. Identity theft is becoming more sophisticated and people will always look for new ways to get your personal information. For a criminal, it can be very lucrative.
What Happens When Your Identity is Stolen?
Identity theft can lead to your data being sold. People sell it on the dark web, and this means that people all over the world could be using your data to borrow money, make applications, and even commit other crimes. Generally, most of the consequences that happen after your identity is stolen have some sort of financial gain for the criminal.
As a remote worker, it could be that someone is looking to steal your data to gain access to the company you work for. Organizations need to be especially careful. As an employee, this doesn’t fall solely on you, but it is important that you consider the best practices for keeping data safe.
How to Prevent Identity Theft
If you’ve found this article in advance of having to deal with the consequences of identity theft then there is still a lot you can do to hopefully ensure you never have to deal with it happening to you. If you are working for a large company or your data is particularly sensitive, it makes sense to outsource all of your online security. There are organizations that know exactly how to keep your ID safe and secure and can help both individuals and organizations, even large organizations might find that they are lacking in precautions.
The best thing to do for peace of mind is to work with the professionals and make sure that identity theft doesn’t become a big hassle for you in the future. Now, this might be a different story for business owners who work remotely. Many remote business owners get targeted for online identity theft. This can prove deadly for the business; many businesses fail right after they get their online security breaches.
It is essential for every company on the internet to implement security measures for it to succeed. This could be achieved either by outsourcing your identity security or, you can do it yourself. Even though it is advised to leave it to the professionals, you can still tackle this problem and be safe on the internet:The most important thing you should do is doing your research thoroughly regarding this issue.
It is essential because it not only involves buying software or implementing new technology. It also requires education and hours of reading and watching videos. Hence, it is more complicated than you think. You may find more information here.
There are some basic things you can do: Change passwords regularly and generate them rather than just use your cat’s name! People will find a way to get through basic and simple passwords so they should use a lot of different characters. Never automatically trust a link that is sent to you. Check if the website is secure and don’t put any details in on a site that you have even one doubt about. Things like online banking are prime examples.
Always visit their sites through your browser rather than just clicking on a link in an email. This is prime for someone to take advantage of phishing. Have a high-quality anti-virus on your computer. If you are running a big company then you should definitely ensure you have access to this for all of your staff. Don’t mix work and personal life. A working computer should be for work and your personal devices should be for your own accounts on things. If you log into work emails on a laptop that is yours, and you don’t take the right precautions, you could be accountable if anything happens.
How to Tackle Identity Theft When it Happens
If the worst does happen and you find yourself a victim of identity theft, don’t panic. There are steps you can take to try and minimize the damage. If you want to, you can contact the specialists. Again, there are specific companies who can deal with identity theft and help you to ensure that you deal with everything in the correct manner, rather than making mistakes along the way. You should look to get a fraud alert put on your credit report, this can limit the damage of any credit taken out fraudulently in your name.
Report to the FTC. This is one of the first steps you can take. There is a simple form that you can fill in on an FTC site, IdentityTheft.gov or you can call to speak to a member of staff. Try to gain as much evidence as you can when you are talking to them, ready to show exactly what is happening to your accounts. Go to your local police. Different police forces deal with the issues in different ways and the location where the offense happened might play a part, but authorities should be alerted straight away. Freeze credit cards and bank accounts. Stop anything negative from happening while you wait to establish what steps you are going to take.
Freezing lines of credit can allow you to ensure that you do not run up further debts without spending anything! Your credit card might be being used on the other side of the world. Change all of your passwords. One breach is enough to ensure that you should get new passwords for every account you have including social media. Alert your work if using a work laptop or if the ID theft is in any way linked. If you fear that these details could lead to issues for your workplace then there is no way you should keep it from them. If you need to, you can still contact specialists in identity theft who can walk you through all of the steps required to try to get your life back on track.
Conclusion
There is no denying that identity theft can have a huge negative impact on your life, and even on those close to you. If it isn’t properly dealt with then it could keep having an effect decades into the future. If you haven’t suffered from ID theft yet then you can take steps to ensure your security. If you are working with a company and are worried about their data then this is another reason to take security seriously.
Just a few simple precautions can make all the difference, and you need to know what techniques and tactics current fraudsters are using to try and steal your information.
“Over The Shoulder” techniques. Someone can watch your input data. It’s as simple as that. If you are in a co-working space, for instance, you might be targeted by someone looking to steal your data.
How Does Identity Theft Happen?
It is easy to assume that you have done the right things and won’t be a victim. Just changing your password from time to time isn’t necessarily enough. There are lots of ways in which people can steal your ID details online.
“Over The Shoulder” techniques. Someone can watch your input data. It’s as simple as that. If you are in a co-working space, for instance, you might be targeted by someone looking to steal your data.
You need to have your guard up. Identity theft is becoming more sophisticated and people will always look for new ways to get your personal information. For a criminal, it can be very lucrative.
What Happens When Your Identity is Stolen?
Identity theft can lead to your data being sold. People sell it on the dark web, and this means that people all over the world could be using your data to borrow money, make applications, and even commit other crimes. Generally, most of the consequences that happen after your identity is stolen have some sort of financial gain for the criminal.
As a remote worker, it could be that someone is looking to steal your data to gain access to the company you work for. Organizations need to be especially careful. As an employee, this doesn’t fall solely on you, but it is important that you consider the best practices for keeping data safe.
How to Prevent Identity Theft
If you’ve found this article in advance of having to deal with the consequences of identity theft then there is still a lot you can do to hopefully ensure you never have to deal with it happening to you. If you are working for a large company or your data is particularly sensitive, it makes sense to outsource all of your online security. There are organizations that know exactly how to keep your ID safe and secure and can help both individuals and organizations, even large organizations might find that they are lacking in precautions.
The best thing to do for peace of mind is to work with the professionals and make sure that identity theft doesn’t become a big hassle for you in the future. Now, this might be a different story for business owners who work remotely. Many remote business owners get targeted for online identity theft. This can prove deadly for the business; many businesses fail right after they get their online security breaches.
It is essential for every company on the internet to implement security measures for it to succeed. This could be achieved either by outsourcing your identity security or, you can do it yourself. Even though it is advised to leave it to the professionals, you can still tackle this problem and be safe on the internet:The most important thing you should do is doing your research thoroughly regarding this issue.
It is essential because it not only involves buying software or implementing new technology. It also requires education and hours of reading and watching videos. Hence, it is more complicated than you think. You may find more information here.
There are some basic things you can do: Change passwords regularly and generate them rather than just use your cat’s name! People will find a way to get through basic and simple passwords so they should use a lot of different characters. Never automatically trust a link that is sent to you. Check if the website is secure and don’t put any details in on a site that you have even one doubt about. Things like online banking are prime examples.
Always visit their sites through your browser rather than just clicking on a link in an email. This is prime for someone to take advantage of phishing. Have a high-quality anti-virus on your computer. If you are running a big company then you should definitely ensure you have access to this for all of your staff. Don’t mix work and personal life. A working computer should be for work and your personal devices should be for your own accounts on things. If you log into work emails on a laptop that is yours, and you don’t take the right precautions, you could be accountable if anything happens.
How to Tackle Identity Theft When it Happens
If the worst does happen and you find yourself a victim of identity theft, don’t panic. There are steps you can take to try and minimize the damage. If you want to, you can contact the specialists. Again, there are specific companies who can deal with identity theft and help you to ensure that you deal with everything in the correct manner, rather than making mistakes along the way. You should look to get a fraud alert put on your credit report, this can limit the damage of any credit taken out fraudulently in your name.
Report to the FTC. This is one of the first steps you can take. There is a simple form that you can fill in on an FTC site, IdentityTheft.gov or you can call to speak to a member of staff. Try to gain as much evidence as you can when you are talking to them, ready to show exactly what is happening to your accounts. Go to your local police. Different police forces deal with the issues in different ways and the location where the offense happened might play a part, but authorities should be alerted straight away. Freeze credit cards and bank accounts. Stop anything negative from happening while you wait to establish what steps you are going to take.
Freezing lines of credit can allow you to ensure that you do not run up further debts without spending anything! Your credit card might be being used on the other side of the world. Change all of your passwords. One breach is enough to ensure that you should get new passwords for every account you have including social media. Alert your work if using a work laptop or if the ID theft is in any way linked. If you fear that these details could lead to issues for your workplace then there is no way you should keep it from them. If you need to, you can still contact specialists in identity theft who can walk you through all of the steps required to try to get your life back on track.
Conclusion
There is no denying that identity theft can have a huge negative impact on your life, and even on those close to you. If it isn’t properly dealt with then it could keep having an effect decades into the future. If you haven’t suffered from ID theft yet then you can take steps to ensure your security. If you are working with a company and are worried about their data then this is another reason to take security seriously.
Just a few simple precautions can make all the difference, and you need to know what techniques and tactics current fraudsters are using to try and steal your information.
“Over The Shoulder” techniques. Someone can watch your input data. It’s as simple as that. If you are in a co-working space, for instance, you might be targeted by someone looking to steal your data.
It’s easy to think that identity theft isn’t too much of a big deal or assume that nobody could impersonate you so there’s nothing to worry about. Actually, once they have your details people can take advantage in a lot of different ways. Identity theft crime statistics are scary. 16.7 million people in America suffered some form of identity theft in the year 2017. That figure is continuing to grow. Billions of dollars are stolen every year using identity theft methods.
If you find yourself the victim of identity theft it might be impossible to recover all of the assets you have lost or the damage to your reputation or the company you work for. This means that identity theft is a huge issue that can impact years of your life. Also, people can commit crimes and run up debts in your name. This can leave you facing a legal battle in the future, too. Make no mistake about it, identity theft is incredibly rife and can make an impact for a number of years in the future.
This is not something you will necessarily have out of the way in a matter of weeks. Even if you contact the authorities and explain that you have been the victim of identity theft, the onus might be on you to prove this. Cybercrime is on the rise. 3.2 million identity theft, cybercrime, and other forms of fraud were reported in 2019. As you can see from this article, almost half of the time when people stole someone’s identity, they applied for a credit card. This debt doesn’t automatically get written off. You will need to prove that you were a victim of fraud and take action if this happens to you. Until then the debts could be in your name.
How Does Identity Theft Happen?
It is easy to assume that you have done the right things and won’t be a victim. Just changing your password from time to time isn’t necessarily enough. There are lots of ways in which people can steal your ID details online.
“Over The Shoulder” techniques. Someone can watch your input data. It’s as simple as that. If you are in a co-working space, for instance, you might be targeted by someone looking to steal your data.
You need to have your guard up. Identity theft is becoming more sophisticated and people will always look for new ways to get your personal information. For a criminal, it can be very lucrative.
What Happens When Your Identity is Stolen?
Identity theft can lead to your data being sold. People sell it on the dark web, and this means that people all over the world could be using your data to borrow money, make applications, and even commit other crimes. Generally, most of the consequences that happen after your identity is stolen have some sort of financial gain for the criminal.
As a remote worker, it could be that someone is looking to steal your data to gain access to the company you work for. Organizations need to be especially careful. As an employee, this doesn’t fall solely on you, but it is important that you consider the best practices for keeping data safe.
How to Prevent Identity Theft
If you’ve found this article in advance of having to deal with the consequences of identity theft then there is still a lot you can do to hopefully ensure you never have to deal with it happening to you. If you are working for a large company or your data is particularly sensitive, it makes sense to outsource all of your online security. There are organizations that know exactly how to keep your ID safe and secure and can help both individuals and organizations, even large organizations might find that they are lacking in precautions.
The best thing to do for peace of mind is to work with the professionals and make sure that identity theft doesn’t become a big hassle for you in the future. Now, this might be a different story for business owners who work remotely. Many remote business owners get targeted for online identity theft. This can prove deadly for the business; many businesses fail right after they get their online security breaches.
It is essential for every company on the internet to implement security measures for it to succeed. This could be achieved either by outsourcing your identity security or, you can do it yourself. Even though it is advised to leave it to the professionals, you can still tackle this problem and be safe on the internet:The most important thing you should do is doing your research thoroughly regarding this issue.
It is essential because it not only involves buying software or implementing new technology. It also requires education and hours of reading and watching videos. Hence, it is more complicated than you think. You may find more information here.
There are some basic things you can do: Change passwords regularly and generate them rather than just use your cat’s name! People will find a way to get through basic and simple passwords so they should use a lot of different characters. Never automatically trust a link that is sent to you. Check if the website is secure and don’t put any details in on a site that you have even one doubt about. Things like online banking are prime examples.
Always visit their sites through your browser rather than just clicking on a link in an email. This is prime for someone to take advantage of phishing. Have a high-quality anti-virus on your computer. If you are running a big company then you should definitely ensure you have access to this for all of your staff. Don’t mix work and personal life. A working computer should be for work and your personal devices should be for your own accounts on things. If you log into work emails on a laptop that is yours, and you don’t take the right precautions, you could be accountable if anything happens.
How to Tackle Identity Theft When it Happens
If the worst does happen and you find yourself a victim of identity theft, don’t panic. There are steps you can take to try and minimize the damage. If you want to, you can contact the specialists. Again, there are specific companies who can deal with identity theft and help you to ensure that you deal with everything in the correct manner, rather than making mistakes along the way. You should look to get a fraud alert put on your credit report, this can limit the damage of any credit taken out fraudulently in your name.
Report to the FTC. This is one of the first steps you can take. There is a simple form that you can fill in on an FTC site, IdentityTheft.gov or you can call to speak to a member of staff. Try to gain as much evidence as you can when you are talking to them, ready to show exactly what is happening to your accounts. Go to your local police. Different police forces deal with the issues in different ways and the location where the offense happened might play a part, but authorities should be alerted straight away. Freeze credit cards and bank accounts. Stop anything negative from happening while you wait to establish what steps you are going to take.
Freezing lines of credit can allow you to ensure that you do not run up further debts without spending anything! Your credit card might be being used on the other side of the world. Change all of your passwords. One breach is enough to ensure that you should get new passwords for every account you have including social media. Alert your work if using a work laptop or if the ID theft is in any way linked. If you fear that these details could lead to issues for your workplace then there is no way you should keep it from them. If you need to, you can still contact specialists in identity theft who can walk you through all of the steps required to try to get your life back on track.
Conclusion
There is no denying that identity theft can have a huge negative impact on your life, and even on those close to you. If it isn’t properly dealt with then it could keep having an effect decades into the future. If you haven’t suffered from ID theft yet then you can take steps to ensure your security. If you are working with a company and are worried about their data then this is another reason to take security seriously.
Just a few simple precautions can make all the difference, and you need to know what techniques and tactics current fraudsters are using to try and steal your information.
“Over The Shoulder” techniques. Someone can watch your input data. It’s as simple as that. If you are in a co-working space, for instance, you might be targeted by someone looking to steal your data.
It’s easy to think that identity theft isn’t too much of a big deal or assume that nobody could impersonate you so there’s nothing to worry about. Actually, once they have your details people can take advantage in a lot of different ways. Identity theft crime statistics are scary. 16.7 million people in America suffered some form of identity theft in the year 2017. That figure is continuing to grow. Billions of dollars are stolen every year using identity theft methods.
If you find yourself the victim of identity theft it might be impossible to recover all of the assets you have lost or the damage to your reputation or the company you work for. This means that identity theft is a huge issue that can impact years of your life. Also, people can commit crimes and run up debts in your name. This can leave you facing a legal battle in the future, too. Make no mistake about it, identity theft is incredibly rife and can make an impact for a number of years in the future.
This is not something you will necessarily have out of the way in a matter of weeks. Even if you contact the authorities and explain that you have been the victim of identity theft, the onus might be on you to prove this. Cybercrime is on the rise. 3.2 million identity theft, cybercrime, and other forms of fraud were reported in 2019. As you can see from this article, almost half of the time when people stole someone’s identity, they applied for a credit card. This debt doesn’t automatically get written off. You will need to prove that you were a victim of fraud and take action if this happens to you. Until then the debts could be in your name.
How Does Identity Theft Happen?
It is easy to assume that you have done the right things and won’t be a victim. Just changing your password from time to time isn’t necessarily enough. There are lots of ways in which people can steal your ID details online.
“Over The Shoulder” techniques. Someone can watch your input data. It’s as simple as that. If you are in a co-working space, for instance, you might be targeted by someone looking to steal your data.
You need to have your guard up. Identity theft is becoming more sophisticated and people will always look for new ways to get your personal information. For a criminal, it can be very lucrative.
What Happens When Your Identity is Stolen?
Identity theft can lead to your data being sold. People sell it on the dark web, and this means that people all over the world could be using your data to borrow money, make applications, and even commit other crimes. Generally, most of the consequences that happen after your identity is stolen have some sort of financial gain for the criminal.
As a remote worker, it could be that someone is looking to steal your data to gain access to the company you work for. Organizations need to be especially careful. As an employee, this doesn’t fall solely on you, but it is important that you consider the best practices for keeping data safe.
How to Prevent Identity Theft
If you’ve found this article in advance of having to deal with the consequences of identity theft then there is still a lot you can do to hopefully ensure you never have to deal with it happening to you. If you are working for a large company or your data is particularly sensitive, it makes sense to outsource all of your online security. There are organizations that know exactly how to keep your ID safe and secure and can help both individuals and organizations, even large organizations might find that they are lacking in precautions.
The best thing to do for peace of mind is to work with the professionals and make sure that identity theft doesn’t become a big hassle for you in the future. Now, this might be a different story for business owners who work remotely. Many remote business owners get targeted for online identity theft. This can prove deadly for the business; many businesses fail right after they get their online security breaches.
It is essential for every company on the internet to implement security measures for it to succeed. This could be achieved either by outsourcing your identity security or, you can do it yourself. Even though it is advised to leave it to the professionals, you can still tackle this problem and be safe on the internet:The most important thing you should do is doing your research thoroughly regarding this issue.
It is essential because it not only involves buying software or implementing new technology. It also requires education and hours of reading and watching videos. Hence, it is more complicated than you think. You may find more information here.
There are some basic things you can do: Change passwords regularly and generate them rather than just use your cat’s name! People will find a way to get through basic and simple passwords so they should use a lot of different characters. Never automatically trust a link that is sent to you. Check if the website is secure and don’t put any details in on a site that you have even one doubt about. Things like online banking are prime examples.
Always visit their sites through your browser rather than just clicking on a link in an email. This is prime for someone to take advantage of phishing. Have a high-quality anti-virus on your computer. If you are running a big company then you should definitely ensure you have access to this for all of your staff. Don’t mix work and personal life. A working computer should be for work and your personal devices should be for your own accounts on things. If you log into work emails on a laptop that is yours, and you don’t take the right precautions, you could be accountable if anything happens.
How to Tackle Identity Theft When it Happens
If the worst does happen and you find yourself a victim of identity theft, don’t panic. There are steps you can take to try and minimize the damage. If you want to, you can contact the specialists. Again, there are specific companies who can deal with identity theft and help you to ensure that you deal with everything in the correct manner, rather than making mistakes along the way. You should look to get a fraud alert put on your credit report, this can limit the damage of any credit taken out fraudulently in your name.
Report to the FTC. This is one of the first steps you can take. There is a simple form that you can fill in on an FTC site, IdentityTheft.gov or you can call to speak to a member of staff. Try to gain as much evidence as you can when you are talking to them, ready to show exactly what is happening to your accounts. Go to your local police. Different police forces deal with the issues in different ways and the location where the offense happened might play a part, but authorities should be alerted straight away. Freeze credit cards and bank accounts. Stop anything negative from happening while you wait to establish what steps you are going to take.
Freezing lines of credit can allow you to ensure that you do not run up further debts without spending anything! Your credit card might be being used on the other side of the world. Change all of your passwords. One breach is enough to ensure that you should get new passwords for every account you have including social media. Alert your work if using a work laptop or if the ID theft is in any way linked. If you fear that these details could lead to issues for your workplace then there is no way you should keep it from them. If you need to, you can still contact specialists in identity theft who can walk you through all of the steps required to try to get your life back on track.
Conclusion
There is no denying that identity theft can have a huge negative impact on your life, and even on those close to you. If it isn’t properly dealt with then it could keep having an effect decades into the future. If you haven’t suffered from ID theft yet then you can take steps to ensure your security. If you are working with a company and are worried about their data then this is another reason to take security seriously.
Just a few simple precautions can make all the difference, and you need to know what techniques and tactics current fraudsters are using to try and steal your information.
“Over The Shoulder” techniques. Someone can watch your input data. It’s as simple as that. If you are in a co-working space, for instance, you might be targeted by someone looking to steal your data.
Identity theft used to require physical documents to commit this kind of fraud, but now, things have changed. Details can be stolen in a number of ways and networks and websites can be hacked to allow fraudsters to find PII.
How Serious is Identity Theft?
It’s easy to think that identity theft isn’t too much of a big deal or assume that nobody could impersonate you so there’s nothing to worry about. Actually, once they have your details people can take advantage in a lot of different ways. Identity theft crime statistics are scary. 16.7 million people in America suffered some form of identity theft in the year 2017. That figure is continuing to grow. Billions of dollars are stolen every year using identity theft methods.
If you find yourself the victim of identity theft it might be impossible to recover all of the assets you have lost or the damage to your reputation or the company you work for. This means that identity theft is a huge issue that can impact years of your life. Also, people can commit crimes and run up debts in your name. This can leave you facing a legal battle in the future, too. Make no mistake about it, identity theft is incredibly rife and can make an impact for a number of years in the future.
This is not something you will necessarily have out of the way in a matter of weeks. Even if you contact the authorities and explain that you have been the victim of identity theft, the onus might be on you to prove this. Cybercrime is on the rise. 3.2 million identity theft, cybercrime, and other forms of fraud were reported in 2019. As you can see from this article, almost half of the time when people stole someone’s identity, they applied for a credit card. This debt doesn’t automatically get written off. You will need to prove that you were a victim of fraud and take action if this happens to you. Until then the debts could be in your name.
How Does Identity Theft Happen?
It is easy to assume that you have done the right things and won’t be a victim. Just changing your password from time to time isn’t necessarily enough. There are lots of ways in which people can steal your ID details online.
“Over The Shoulder” techniques. Someone can watch your input data. It’s as simple as that. If you are in a co-working space, for instance, you might be targeted by someone looking to steal your data.
You need to have your guard up. Identity theft is becoming more sophisticated and people will always look for new ways to get your personal information. For a criminal, it can be very lucrative.
What Happens When Your Identity is Stolen?
Identity theft can lead to your data being sold. People sell it on the dark web, and this means that people all over the world could be using your data to borrow money, make applications, and even commit other crimes. Generally, most of the consequences that happen after your identity is stolen have some sort of financial gain for the criminal.
As a remote worker, it could be that someone is looking to steal your data to gain access to the company you work for. Organizations need to be especially careful. As an employee, this doesn’t fall solely on you, but it is important that you consider the best practices for keeping data safe.
How to Prevent Identity Theft
If you’ve found this article in advance of having to deal with the consequences of identity theft then there is still a lot you can do to hopefully ensure you never have to deal with it happening to you. If you are working for a large company or your data is particularly sensitive, it makes sense to outsource all of your online security. There are organizations that know exactly how to keep your ID safe and secure and can help both individuals and organizations, even large organizations might find that they are lacking in precautions.
The best thing to do for peace of mind is to work with the professionals and make sure that identity theft doesn’t become a big hassle for you in the future. Now, this might be a different story for business owners who work remotely. Many remote business owners get targeted for online identity theft. This can prove deadly for the business; many businesses fail right after they get their online security breaches.
It is essential for every company on the internet to implement security measures for it to succeed. This could be achieved either by outsourcing your identity security or, you can do it yourself. Even though it is advised to leave it to the professionals, you can still tackle this problem and be safe on the internet:The most important thing you should do is doing your research thoroughly regarding this issue.
It is essential because it not only involves buying software or implementing new technology. It also requires education and hours of reading and watching videos. Hence, it is more complicated than you think. You may find more information here.
There are some basic things you can do: Change passwords regularly and generate them rather than just use your cat’s name! People will find a way to get through basic and simple passwords so they should use a lot of different characters. Never automatically trust a link that is sent to you. Check if the website is secure and don’t put any details in on a site that you have even one doubt about. Things like online banking are prime examples.
Always visit their sites through your browser rather than just clicking on a link in an email. This is prime for someone to take advantage of phishing. Have a high-quality anti-virus on your computer. If you are running a big company then you should definitely ensure you have access to this for all of your staff. Don’t mix work and personal life. A working computer should be for work and your personal devices should be for your own accounts on things. If you log into work emails on a laptop that is yours, and you don’t take the right precautions, you could be accountable if anything happens.
How to Tackle Identity Theft When it Happens
If the worst does happen and you find yourself a victim of identity theft, don’t panic. There are steps you can take to try and minimize the damage. If you want to, you can contact the specialists. Again, there are specific companies who can deal with identity theft and help you to ensure that you deal with everything in the correct manner, rather than making mistakes along the way. You should look to get a fraud alert put on your credit report, this can limit the damage of any credit taken out fraudulently in your name.
Report to the FTC. This is one of the first steps you can take. There is a simple form that you can fill in on an FTC site, IdentityTheft.gov or you can call to speak to a member of staff. Try to gain as much evidence as you can when you are talking to them, ready to show exactly what is happening to your accounts. Go to your local police. Different police forces deal with the issues in different ways and the location where the offense happened might play a part, but authorities should be alerted straight away. Freeze credit cards and bank accounts. Stop anything negative from happening while you wait to establish what steps you are going to take.
Freezing lines of credit can allow you to ensure that you do not run up further debts without spending anything! Your credit card might be being used on the other side of the world. Change all of your passwords. One breach is enough to ensure that you should get new passwords for every account you have including social media. Alert your work if using a work laptop or if the ID theft is in any way linked. If you fear that these details could lead to issues for your workplace then there is no way you should keep it from them. If you need to, you can still contact specialists in identity theft who can walk you through all of the steps required to try to get your life back on track.
Conclusion
There is no denying that identity theft can have a huge negative impact on your life, and even on those close to you. If it isn’t properly dealt with then it could keep having an effect decades into the future. If you haven’t suffered from ID theft yet then you can take steps to ensure your security. If you are working with a company and are worried about their data then this is another reason to take security seriously.
Just a few simple precautions can make all the difference, and you need to know what techniques and tactics current fraudsters are using to try and steal your information.
“Over The Shoulder” techniques. Someone can watch your input data. It’s as simple as that. If you are in a co-working space, for instance, you might be targeted by someone looking to steal your data.
Identity theft is nothing new. People have been stealing identification via Social Security numbers and other details for a long time, usually by stealing wallets, but historically some people would go through mail to find details for identity theft. In the modern age of the internet, it is easier for people to find personally identifiable information. This is sometimes abbreviated to “PII”. This allows people to commit fraud and pretend to be you. They can sometimes steal money directly in this way, but they can also do things to impact upon your reputation or, in the case of employees they might be able to gain access to company servers or more.
Remote workers need to think about the impact of their identity being stolen, access to their online accounts, and more, but if you don’t take the right precautions you can even be responsible for issues regarding your work details.
Identity theft used to require physical documents to commit this kind of fraud, but now, things have changed. Details can be stolen in a number of ways and networks and websites can be hacked to allow fraudsters to find PII.
How Serious is Identity Theft?
It’s easy to think that identity theft isn’t too much of a big deal or assume that nobody could impersonate you so there’s nothing to worry about. Actually, once they have your details people can take advantage in a lot of different ways. Identity theft crime statistics are scary. 16.7 million people in America suffered some form of identity theft in the year 2017. That figure is continuing to grow. Billions of dollars are stolen every year using identity theft methods.
If you find yourself the victim of identity theft it might be impossible to recover all of the assets you have lost or the damage to your reputation or the company you work for. This means that identity theft is a huge issue that can impact years of your life. Also, people can commit crimes and run up debts in your name. This can leave you facing a legal battle in the future, too. Make no mistake about it, identity theft is incredibly rife and can make an impact for a number of years in the future.
This is not something you will necessarily have out of the way in a matter of weeks. Even if you contact the authorities and explain that you have been the victim of identity theft, the onus might be on you to prove this. Cybercrime is on the rise. 3.2 million identity theft, cybercrime, and other forms of fraud were reported in 2019. As you can see from this article, almost half of the time when people stole someone’s identity, they applied for a credit card. This debt doesn’t automatically get written off. You will need to prove that you were a victim of fraud and take action if this happens to you. Until then the debts could be in your name.
How Does Identity Theft Happen?
It is easy to assume that you have done the right things and won’t be a victim. Just changing your password from time to time isn’t necessarily enough. There are lots of ways in which people can steal your ID details online.
“Over The Shoulder” techniques. Someone can watch your input data. It’s as simple as that. If you are in a co-working space, for instance, you might be targeted by someone looking to steal your data.
You need to have your guard up. Identity theft is becoming more sophisticated and people will always look for new ways to get your personal information. For a criminal, it can be very lucrative.
What Happens When Your Identity is Stolen?
Identity theft can lead to your data being sold. People sell it on the dark web, and this means that people all over the world could be using your data to borrow money, make applications, and even commit other crimes. Generally, most of the consequences that happen after your identity is stolen have some sort of financial gain for the criminal.
As a remote worker, it could be that someone is looking to steal your data to gain access to the company you work for. Organizations need to be especially careful. As an employee, this doesn’t fall solely on you, but it is important that you consider the best practices for keeping data safe.
How to Prevent Identity Theft
If you’ve found this article in advance of having to deal with the consequences of identity theft then there is still a lot you can do to hopefully ensure you never have to deal with it happening to you. If you are working for a large company or your data is particularly sensitive, it makes sense to outsource all of your online security. There are organizations that know exactly how to keep your ID safe and secure and can help both individuals and organizations, even large organizations might find that they are lacking in precautions.
The best thing to do for peace of mind is to work with the professionals and make sure that identity theft doesn’t become a big hassle for you in the future. Now, this might be a different story for business owners who work remotely. Many remote business owners get targeted for online identity theft. This can prove deadly for the business; many businesses fail right after they get their online security breaches.
It is essential for every company on the internet to implement security measures for it to succeed. This could be achieved either by outsourcing your identity security or, you can do it yourself. Even though it is advised to leave it to the professionals, you can still tackle this problem and be safe on the internet:The most important thing you should do is doing your research thoroughly regarding this issue.
It is essential because it not only involves buying software or implementing new technology. It also requires education and hours of reading and watching videos. Hence, it is more complicated than you think. You may find more information here.
There are some basic things you can do: Change passwords regularly and generate them rather than just use your cat’s name! People will find a way to get through basic and simple passwords so they should use a lot of different characters. Never automatically trust a link that is sent to you. Check if the website is secure and don’t put any details in on a site that you have even one doubt about. Things like online banking are prime examples.
Always visit their sites through your browser rather than just clicking on a link in an email. This is prime for someone to take advantage of phishing. Have a high-quality anti-virus on your computer. If you are running a big company then you should definitely ensure you have access to this for all of your staff. Don’t mix work and personal life. A working computer should be for work and your personal devices should be for your own accounts on things. If you log into work emails on a laptop that is yours, and you don’t take the right precautions, you could be accountable if anything happens.
How to Tackle Identity Theft When it Happens
If the worst does happen and you find yourself a victim of identity theft, don’t panic. There are steps you can take to try and minimize the damage. If you want to, you can contact the specialists. Again, there are specific companies who can deal with identity theft and help you to ensure that you deal with everything in the correct manner, rather than making mistakes along the way. You should look to get a fraud alert put on your credit report, this can limit the damage of any credit taken out fraudulently in your name.
Report to the FTC. This is one of the first steps you can take. There is a simple form that you can fill in on an FTC site, IdentityTheft.gov or you can call to speak to a member of staff. Try to gain as much evidence as you can when you are talking to them, ready to show exactly what is happening to your accounts. Go to your local police. Different police forces deal with the issues in different ways and the location where the offense happened might play a part, but authorities should be alerted straight away. Freeze credit cards and bank accounts. Stop anything negative from happening while you wait to establish what steps you are going to take.
Freezing lines of credit can allow you to ensure that you do not run up further debts without spending anything! Your credit card might be being used on the other side of the world. Change all of your passwords. One breach is enough to ensure that you should get new passwords for every account you have including social media. Alert your work if using a work laptop or if the ID theft is in any way linked. If you fear that these details could lead to issues for your workplace then there is no way you should keep it from them. If you need to, you can still contact specialists in identity theft who can walk you through all of the steps required to try to get your life back on track.
Conclusion
There is no denying that identity theft can have a huge negative impact on your life, and even on those close to you. If it isn’t properly dealt with then it could keep having an effect decades into the future. If you haven’t suffered from ID theft yet then you can take steps to ensure your security. If you are working with a company and are worried about their data then this is another reason to take security seriously.
Just a few simple precautions can make all the difference, and you need to know what techniques and tactics current fraudsters are using to try and steal your information.
“Over The Shoulder” techniques. Someone can watch your input data. It’s as simple as that. If you are in a co-working space, for instance, you might be targeted by someone looking to steal your data.
One issue that a lot of people ignore, but one that is still utterly vital, is identity theft. A number of people simply don’t realize how much of a threat this can be to their life and the problems it can cause. As a remote worker, you might have to consider both your own personal information and that of the company you work for.
In this guide, we’re providing some of the information you need to ensure you are preventing and tackling ID theft. We also show you what steps you can take if you are unfortunate enough to fall foul of online fraudsters.
What is Online Identity Theft?
Identity theft is nothing new. People have been stealing identification via Social Security numbers and other details for a long time, usually by stealing wallets, but historically some people would go through mail to find details for identity theft. In the modern age of the internet, it is easier for people to find personally identifiable information. This is sometimes abbreviated to “PII”. This allows people to commit fraud and pretend to be you. They can sometimes steal money directly in this way, but they can also do things to impact upon your reputation or, in the case of employees they might be able to gain access to company servers or more.
Remote workers need to think about the impact of their identity being stolen, access to their online accounts, and more, but if you don’t take the right precautions you can even be responsible for issues regarding your work details.
Identity theft used to require physical documents to commit this kind of fraud, but now, things have changed. Details can be stolen in a number of ways and networks and websites can be hacked to allow fraudsters to find PII.
How Serious is Identity Theft?
It’s easy to think that identity theft isn’t too much of a big deal or assume that nobody could impersonate you so there’s nothing to worry about. Actually, once they have your details people can take advantage in a lot of different ways. Identity theft crime statistics are scary. 16.7 million people in America suffered some form of identity theft in the year 2017. That figure is continuing to grow. Billions of dollars are stolen every year using identity theft methods.
If you find yourself the victim of identity theft it might be impossible to recover all of the assets you have lost or the damage to your reputation or the company you work for. This means that identity theft is a huge issue that can impact years of your life. Also, people can commit crimes and run up debts in your name. This can leave you facing a legal battle in the future, too. Make no mistake about it, identity theft is incredibly rife and can make an impact for a number of years in the future.
This is not something you will necessarily have out of the way in a matter of weeks. Even if you contact the authorities and explain that you have been the victim of identity theft, the onus might be on you to prove this. Cybercrime is on the rise. 3.2 million identity theft, cybercrime, and other forms of fraud were reported in 2019. As you can see from this article, almost half of the time when people stole someone’s identity, they applied for a credit card. This debt doesn’t automatically get written off. You will need to prove that you were a victim of fraud and take action if this happens to you. Until then the debts could be in your name.
How Does Identity Theft Happen?
It is easy to assume that you have done the right things and won’t be a victim. Just changing your password from time to time isn’t necessarily enough. There are lots of ways in which people can steal your ID details online.
“Over The Shoulder” techniques. Someone can watch your input data. It’s as simple as that. If you are in a co-working space, for instance, you might be targeted by someone looking to steal your data.
You need to have your guard up. Identity theft is becoming more sophisticated and people will always look for new ways to get your personal information. For a criminal, it can be very lucrative.
What Happens When Your Identity is Stolen?
Identity theft can lead to your data being sold. People sell it on the dark web, and this means that people all over the world could be using your data to borrow money, make applications, and even commit other crimes. Generally, most of the consequences that happen after your identity is stolen have some sort of financial gain for the criminal.
As a remote worker, it could be that someone is looking to steal your data to gain access to the company you work for. Organizations need to be especially careful. As an employee, this doesn’t fall solely on you, but it is important that you consider the best practices for keeping data safe.
How to Prevent Identity Theft
If you’ve found this article in advance of having to deal with the consequences of identity theft then there is still a lot you can do to hopefully ensure you never have to deal with it happening to you. If you are working for a large company or your data is particularly sensitive, it makes sense to outsource all of your online security. There are organizations that know exactly how to keep your ID safe and secure and can help both individuals and organizations, even large organizations might find that they are lacking in precautions.
The best thing to do for peace of mind is to work with the professionals and make sure that identity theft doesn’t become a big hassle for you in the future. Now, this might be a different story for business owners who work remotely. Many remote business owners get targeted for online identity theft. This can prove deadly for the business; many businesses fail right after they get their online security breaches.
It is essential for every company on the internet to implement security measures for it to succeed. This could be achieved either by outsourcing your identity security or, you can do it yourself. Even though it is advised to leave it to the professionals, you can still tackle this problem and be safe on the internet:The most important thing you should do is doing your research thoroughly regarding this issue.
It is essential because it not only involves buying software or implementing new technology. It also requires education and hours of reading and watching videos. Hence, it is more complicated than you think. You may find more information here.
There are some basic things you can do: Change passwords regularly and generate them rather than just use your cat’s name! People will find a way to get through basic and simple passwords so they should use a lot of different characters. Never automatically trust a link that is sent to you. Check if the website is secure and don’t put any details in on a site that you have even one doubt about. Things like online banking are prime examples.
Always visit their sites through your browser rather than just clicking on a link in an email. This is prime for someone to take advantage of phishing. Have a high-quality anti-virus on your computer. If you are running a big company then you should definitely ensure you have access to this for all of your staff. Don’t mix work and personal life. A working computer should be for work and your personal devices should be for your own accounts on things. If you log into work emails on a laptop that is yours, and you don’t take the right precautions, you could be accountable if anything happens.
How to Tackle Identity Theft When it Happens
If the worst does happen and you find yourself a victim of identity theft, don’t panic. There are steps you can take to try and minimize the damage. If you want to, you can contact the specialists. Again, there are specific companies who can deal with identity theft and help you to ensure that you deal with everything in the correct manner, rather than making mistakes along the way. You should look to get a fraud alert put on your credit report, this can limit the damage of any credit taken out fraudulently in your name.
Report to the FTC. This is one of the first steps you can take. There is a simple form that you can fill in on an FTC site, IdentityTheft.gov or you can call to speak to a member of staff. Try to gain as much evidence as you can when you are talking to them, ready to show exactly what is happening to your accounts. Go to your local police. Different police forces deal with the issues in different ways and the location where the offense happened might play a part, but authorities should be alerted straight away. Freeze credit cards and bank accounts. Stop anything negative from happening while you wait to establish what steps you are going to take.
Freezing lines of credit can allow you to ensure that you do not run up further debts without spending anything! Your credit card might be being used on the other side of the world. Change all of your passwords. One breach is enough to ensure that you should get new passwords for every account you have including social media. Alert your work if using a work laptop or if the ID theft is in any way linked. If you fear that these details could lead to issues for your workplace then there is no way you should keep it from them. If you need to, you can still contact specialists in identity theft who can walk you through all of the steps required to try to get your life back on track.
Conclusion
There is no denying that identity theft can have a huge negative impact on your life, and even on those close to you. If it isn’t properly dealt with then it could keep having an effect decades into the future. If you haven’t suffered from ID theft yet then you can take steps to ensure your security. If you are working with a company and are worried about their data then this is another reason to take security seriously.
Just a few simple precautions can make all the difference, and you need to know what techniques and tactics current fraudsters are using to try and steal your information.
“Over The Shoulder” techniques. Someone can watch your input data. It’s as simple as that. If you are in a co-working space, for instance, you might be targeted by someone looking to steal your data.
In 2014, I bought 25,000 dogecoin as a joke. By 2021, it was briefly worth over $17,000. Problem was, I couldn’t remember the password. Determined to get my coins back, I embarked on a journey that exposed me to online hackers, the mathematics behind passwords, and a lot of frustration.
Although most people don’t have thousands in forgotten cryptocurrency, everyone relies on passwords to manage their digital lives. And as more and more people buy crypto, how can they protect their assets? We talked to a host of experts to figure out how to create the best passwords for your digital accounts, and, if you have crypto, what your basic storage tradeoffs are. Let’s dive in.
How to Hack Your Own Crypto Wallet
There are a few common ways to lose crypto. You might have a wallet on a hard drive you throw away. Your exchange could get hacked. You might lose your password, or you might get personally hacked and have your coins stolen. For those who lose their password, as I did, hackers actually present a silver lining. If you still control your wallet, you can try to hack your own wallet—or find someone who will.
So I contacted Dave Bitcoin, an anonymous hacker famous for cracking crypto wallets. He agreed to help break into the wallet, for his standard 20 percent fee—paid only if he is successful. Dave and other hackers are mostly using brute force techniques. Basically, they’re just guessing passwords—a lot of them.
You can also try to hack your own wallet with apps like Pywallet or Jack the Ripper. But I didn’t want to do it myself, so I sent Dave a list of password possibilities and he got started.
After a little waiting, I received an email from Dave. “I tried over 100 billion passwords on your wallet,” Dave told me over email. I assumed such a mind-boggling amount of tries meant my coins were surely recovered, but alas, we had only scratched the surface. The password was not hacked, and my coins remained lost. But how?
The Math Behind Strong Passwords
Each new digit in a password makes it exponentially harder to crack. Consider a one-digit password that could be a letter or a number. If the password is case-sensitive, there are 52 letters plus 10 numerals. Not very secure. You could simply guess the password by trying 62 times. (A, a, B, b, C, c … and so on).
Now make it a two-digit password. It doesn’t get twice as hard to guess—it gets 62 times harder to guess. There are now 3884 possible passwords to guess (AA, Aa, AB, etc.) A six-digit password with the same rules has around 56 billion possible permutations, assuming we don’t use special characters. A 20-character password with those rules has 62-to-the-20th-power permutations: that is, 704,423,425,546,998,022,968,330,264,616,370,176 possible passwords. That makes 100 billion look pretty small in comparison.
This math was bad news for me, since I’m pretty sure I had some sort of long password, like a few lines of a song lyric. Talk about facing the music.
Password Best Practices
Whether it’s for your email or crypto wallet, how can you balance creating a strong password that’s also memorable? “Choosing passwords is tricky,” says Dave, “If you go out of your way to create an unusual password for your wallet that you wouldn’t typically use, then it makes it quite difficult for you to remember and for me to help.
It’s easier to guess your password if you use consistent patterns. Of course, this is bad for security, and someone who is trying to hack your accounts will have an easier time.” Balancing security with memorability is ultimately a tough task that will depend on the individual’s needs and preferences.
“All I can really suggest is to either record all your passwords on paper (and take the risk that it will be found), or use a password manager,” Dave says. Ironically, the digital age is now making pen and paper a preferred security method. Russia’s state security agency supposedly reverted to typewriters after the Snowden leaks.
Are Coins on Crypto Exchanges Safe?
Losing my password made me a pretty big fan of storing crypto on exchanges. After all, if you forget your Coinbase password, the process is simple. You reset your password, and likely submit identification to verify that you own the account. On the surface, storing on big exchanges seems pretty secure.
Coinbase says they keep “over 98 percent of deposits offline in secure cold storage facilities” in addition to having an “extensive insurance policy.” Thus, it should be difficult or impossible for cybercriminals to access most of the crypto Coinbase controls.
Gemini, another popular US-based exchange, prides itself on its seemingly extensive security measures. At the same time, if your exchange suffers a major hack or goes bankrupt, it could take years to recover your crypto, if you get it back at all. That’s why many analysts recommend users maintain control over their coins…..Continue reading
Calvin Becerra went viral earlier this year for a less-than-ideal reason. He got bamboozled out of what he claims is some $2 million in cryptocurrency and NFTs and complained on Twitter about the incident. Scammers pretended to be interested in buying one of his NFTs in a Discord channel and tricked him by saying they could help him fix a problem with his crypto wallet. During troubleshooting, they raided his wallet. The experience, he says, “felt like death.” He’s gone to great lengths to get the stolen digital assets back, paying hundreds of thousands more dollars to retrieve the tokens, including, most importantly, his three bored apes.
For many outsiders, it’s hard to grasp paying so much money for a trio of cartoon monkeys once, let alone twice. At some point, you’ve just got to let sunk cost be. But Becerra, 40, insists it’s worth it — he believes in NFTs, or at the very least, the moneymaking power of them. “They’re important to me because of the value that they will continue to increase by,” he says. “They’re huge.”
He’s right that NFTs — non-fungible tokens, little digital assets that exist on a blockchain — are having a moment. What’s not really clear is why. Then again, everything about money feels a little strange at the moment. Between NFTs, crypto, and GameStop, AMC, and other meme stocks, money has rarely felt more fake. Or, at the very least, value has rarely felt so disconnected from reality.
The concept of value is a fuzzy one, and valuation is often more art than it is science. Psychology has always played a role in money and investing — and there have always been bubbles, too, where the price of an asset takes off at a rapid pace and disconnects from the fundamental value. As Jacob Goldstein wrote in Money: The True Story of a Made-Up Thing, all money is sort of a collective myth. “Money feels cold and mathematical and outside the realm of fuzzy human relationships. It isn’t,” he wrote. “Money is a made-up thing, a shared fiction. Money is fundamentally, unalterably social.”
The social aspect is clear in much of what’s going on now, whether it be a group of investors on Reddit trying to take down a hedge fund betting against GameStop or people paying thousands of dollars to claim ownership of digital art they could effectively have for free. But why certain groups of people have trained their focus on certain items is hard to parse. Becerra insists there’s a utility to the apes — there’s merchandise, events, and he sees having them as the “new world flex,” like a watch or a nice car. “Everything’s hype, a social media world, right?”
Lately, the hype aspect of money has felt more true and important than ever.
It’s been a weird year in money
Historically, the economy was theoretically based on labor and value creation at the individual level, and on the structural level, voting shares in companies based on their financial fundamentals and future value, said tech industry veteran Anil Dash, CEO of the programming company Glitch. But that idea died long ago. “A machine is what it does, and the purpose of the system is the output of the system. And the purpose of our financial systems … is to create ever more detached financialization that can just generate what the industry calls wealth and what the rest of the world just doesn’t see.” In other words, the confusing status of value today is a feature, not a bug.
You can see this clearly in the markets in 2021. One of the first big stories of the year was the GameStop saga, and it was a fun one. An army of day traders on the Reddit forum r/WallStreetBets drove up the price of the game retailer’s stock in a matter of days, forcing halts in trading and costing some hedge funds that had been betting against the stock quite a bit of money. They rallied behind a guy who goes by Roaring Kitty; in one YouTube video about GameStop, he pretended to smoke a cigar while wearing a cat mask.
There have been all sorts of efforts to ascribe some bigger takeaway to the GameStop story — perhaps it was a populist uprising or a sign that there was something very broken in the market. But generally, most of the efforts to pull a concrete meaning out of GameStop fall flat. It was a relatively ephemeral incident where, as is often the case in investing, there were some winners and some losers. GameStop’s stock price has remained relatively high, compared where it was before January 2021, because enough investors have stuck around to keep it there.
GameStop has come to epitomize an era of meme investing, where ordinary investors are piling into stocks and cryptocurrencies and digital assets not necessarily because they believe in the underlying value of the thing they’re buying (though some do) but instead because it just seems like a thing to do. Dogecoin or NFTs or stock in theater chain AMC get popular online or in their social circles, and they turn around and think, why not?
“For a huge swath of the retail world, the mentality has merged of what is trading versus what is investing versus what is essentially just gambling,” said Tyler Gellasch, executive director of Healthy Markets, a nonprofit.
The scenario has generated quite a bit of finger–wagging from Very Serious People who say what’s going on is beyond the pale, that investing is supposed to be about underlying value and the real, tangible worth of a thing. NFTs and Shiba Inu coin, they say, are clearly fake. At the same time, so is so much of what’s going on in finance and the economy already — including the spaces the Very Serious People occupy.
During the 2008 financial crisis, for example, exotic financial instruments created out of subprime mortgages among Wall Street and banks helped take the economy down. They also revealed regulators to be asleep at the wheel. Very recent history makes it hard to take the Very Serious People in finance and government seriously as responsible stewards of the global economy. The financial industry has gone to great lengths to create new financial products with the potential to do more harm than good in the name of making more money.
“To have a boomer burn down the planet and then have them wag a finger that crypto’s bad for the environment? Please, that’s absurd,” Dash said.
“Money feeling strange in 2021 is based on a decade of money slowly feeling strange for lots and lots of different people throughout the world,” said Lana Swartz, an assistant professor of media studies at the University of Virginia who focuses on money. “We’re at a stage where the government and financial institutions are revealed to be less dependable than we ever imagined they would be, so why not YOLO?”
NFTs might be bizarre speculative bullshit, but what isn’t? Aren’t we all just finding ways to turn everything that exists into something we can make money off of? I might be throwing away thousands of dollars on NFTs, but you’re throwing away thousands of dollars on TSA PreCheck or lottery tickets or donating to political candidates or raising children. Critics will say NFTs are wasteful and can be used for fraud and other crimes—fine, yeah, find me something that isn’t?
The view may be nihilistic, but in the current scenario, it isn’t entirely wrong. So much of the economy feels like a scam — the gig economy, student loans, the hope of retirement, a 9-to-5 job. Consumers are always being tricked and squeezed by corporations. The promise of the middle class is fading fast, so for a lot of people, it just feels like you might as well lean into whatever financial chaos is available to try to hit it big. If housing prices are so high you’re never going to be able to own a home, why not try your hand at real estate in whatever the metaverse is?
Crypto feels like a scam. So does a lot of the economy.
It’s easy to be dismissive of the current state of casino capitalism, where random people are just tossing random money at random anything. It’s also relatively easy to recognize that this landscape is likely to be one where there are few winners, and the winners are probably going to be the people who were already winning, financially.
“For every one person that makes money, you have 100 people that have lost money. It’s basically just a giant wealth redistribution scheme,” said Stephen Diehl, a software engineer in London who recently laid out a scathing and widely read critique of the crypto asset bubble. “Why it seems so fake is nobody can quite figure out what these things are, and they’re being presented to different people with different stories.”
Dash is one of the originators of the NFT concept, but he worries about the clearly fraudulent nature of some dealings in the market. “They had to coin the phrase ‘rug pull’ to describe the fraud that happens in NFT communities because that type of thing is so common. What does that tell you?”
Value is ultimately a story, one we tell to ourselves and to others. In the United States, we’ve convinced ourselves of the story of the dollar, which is backed by the full force of the US government. But it’s ultimately just a piece of paper. Cryptocurrencies and NFTs and AMC all come with their own stories, which, admittedly, can be on the kooky side.
There’s more to the current money landscape than dogecoin and meme stocks that makes the whole thing seem a little fake. The stock market soared during much of 2020 and 2021, even during the depths of the pandemic, making it hard not to wonder what the whole thing is for. The federal government was able to deliver a lot of money through monetary and fiscal relief to keep the markets — and regular people — afloat. It’s a lesson that when the government needs to find money, it can. But whether or not the influx makes money feel fake depends on your perspective.
“Isn’t this the year that money has felt most real?” said Mike Konczal, director of macroeconomic analysis at the Roosevelt Institute. “Child poverty cut in half, unemployment insurance capable of giving workers actual bargaining power for a change, real wage increases across the majority of people, wealth doubling in the bottom 50 percent.”
It’s a strange place we’re in, which might explain why these tangible improvements don’t seem to dislodge national feelings of alienation. The state of the world and the economy can feel really hopeless. There’s mass distrust in institutions and in government, and economic mobility is increasingly hard to achieve. We’re in the midst of a pandemic that doesn’t look like it’s ever going to really end. NFTs feel like a scam, but then again, so does everything.
Becerra appears determined to stick with NFTs, despite having been very publicly scammed. After all, he’s gone to great lengths to get his bored apes back. When he talks about them, he vacillates between speculator and true believer, in one moment saying he plans to sell them if the price gets high enough, in another talking about them with quite a bit of affection.
“I’m not holding this forever. I don’t care about those apes that much, you know?” he said. He knows the hype could fade. Maybe that will take the sudden value of his cartoon monkeys with it; maybe it won’t. However, he considers the apes to be “blue chip” NFTs, a designation that in the stock world would put them on the same level as well-established major corporations such as Apple and Berkshire Hathaway. “That’s why someone like me, who has money, invests only in the blue-chip ones.”
Most of this is probably a bubble
Becerra, who describes himself as a motivational speaker, high-performance coach, and entrepreneur, compares the current moment in crypto to the 1990s. “This is our dot-com boom,” he said. Of course, the dot-com boom ended in a bust.
It’s impossible to look at what’s happening in investing now and not think that that the prices on many of these assets are divorced from their actual worth. The value of random NFTs and cryptocurrencies skyrocket seemingly out of nowhere, sweeping up hundreds and thousands of people in the process. Sometimes, the bubbles burst fast because the investment falls out of fashion or it winds up being a pump-and-dump scheme, where fraudsters are creating a buying frenzy around certain assets only to suddenly dump them and flee. The broader crypto bubble is still inflating.
If NFTs and crypto, as a concept, prevail, it’s unlikely all of the current projects and fads will. Everybody’s hoping they’ve got a golden ticket, or at least a gold-plated ticket, that they can sell before everyone else realizes what they’ve got is a fraud. Some people in the industry acknowledge that most of this stuff is likely to implode.
“The parallels with the dot-com boom are very apt, the reason being that like 99 percent of these coins out there are going to be worth zero in 10 years. But the ones that remain, the companies that remain … those are going to survive and create long-lasting things that change our lives,” said Jim Greco, managing director of crypto trading at Radkl, a digital trading firm. “Amazon survived the dot-com boom.”
If you buy into the idea that a lot of this investing is pretty divorced from reality, then the question is how long this lasts. For now, the music’s still playing, so people are dancing. How long the song keeps going depends on how long the people holding onto the assets can keep singing.
“It’s really incumbent on people who hold these investments to perpetuate their value, whether that’s through evangelizing to other people or by building systems to make it usable and useful and relevant,” Swartz said. “But then in order to realize the value, to translate it into money, you have to sell it.”
If and when the bubble around some of these hyped investments bursts, a lot of people are going to get hurt and lose money. In NFTs, evidence suggests those who are already wealthy and powerful are the ones ruling the roost, just like in the stock market. While there are true believers in crypto projects, so much of it is just speculation, and venture capitalists and hedge funds are more likely to win the speculation game than the little guys caught up in the mania.
Hilary Allen, a law professor at American University who specializes in financial regulation, said the risk around so many speculative and contrived investments on the market is more tied to the potential ripple effects. Essentially, is the current moment the dot-com bubble or the lead-up to the 2008 financial crisis?
“If it’s just a dot-com bubble, it sucks for the people who invested,” she said. “But if it’s 2008, then we’re all screwed, even those of us who aren’t investing, and that’s not fair. It really depends on who’s getting into this and how integrated it’s getting with the rest of the financial system.”
Emily writes about the intersection of business, politics, and the economy. She is specifically interested in how people experience the forces of capitalism and money. Prior to joining Vox, Emily covered politics at The Street, including the rise of Donald Trump and the stock market’s reaction to politics and policy. She graduated from Columbia University and resides in Brooklyn, New York.
tomch/getty images
Multiple U.S. financial and law enforcement agencies, including the Federal Trade Commission and the Commodity Futures Trading Commission, generally tell scam victims to treat these services with a healthy dose of skepticism. That’s because even if one of these companies is involved, law enforcement still has to do its own independent investigation — for which victims aren’t charged. Plus, no private company has the authority to compel the freezing, much less the seizure, of crypto assets held at an exchange.
