How banks work


Identity Theft: Thieves no Longer Seek to Steal Your Possessions, They Seek to Steal YOU

Clever thieves no longer seek to steal yoursuccessfully open a bank account, all in your
valuable possessions; they are far morename. They might even try to redirect your
interested in stealing you, or at least yourmail. Slowly but surely, they build up their
identity. If they steal your TV or your car,credibility that they really are you. And
they have one item, they then have to sellwhen they have that, and only when they are
it, and the chances are, your insurance willquite ready, do they launch their sting by
cover  the  cost.applying for countless loans and credit cards
in your name. With those, they get a pin
If they successfully steal you, they have annumber, and their version of your signature,
unlimited opportunity to raise cash throughwhich  they  can  reproduce  on  demand.
numerous scams. They can take out loans,
apply for credit cards in your name and maxBy the time you find out all about it, it is
them out, even apply for a mortgage, ortoo late. The perpetrator has left the county
attempt to sell your house. That has actuallywith all the squeezed cash taken in your
happened. Fact is they are much more likelyname, and your credit rating shot to bits,
to break into your trashcans, than youralbeit temporarily, though that can take a
precious  home. So, what can you do about it?lot  of  time  and  convincing  to put right.
Buy a shredder for a start. That is no newNever give any details to cold telephone
advice, shredder sales have rocketed in thecalling individuals no matter how persuasive,
past five years, and when you have one, useconvincing or worthy they may sound. Never
it. Shred all personal documents before youissue details of bank and financial accounts
ditch them, and it is good advice to buy anover the net when banks apparently suddenly
expensive shredder too, one that can dealrequest you to confirm your banking
with handfuls of papers at a time. You do notinformation. They don't do that, it is a scam
want to have to spend all day feedingand the opponent is simply trying to wheedle
individual  docs  into  a  weary  machine.vital information from you when your guard is
down. They often dress this up as if they are
When you move house make sure that youacting in your best interests. "We are
redirect all your mail, and tell everyone,beefing up our internet security measures"
especially credit card companies, mail orderthey say, something that you would be eager
catalogue businesses, banks, finance housesto see and agree to in normal circumstances.
of your new whereabouts. Keep the redirectionBut hang on; think about it for a moment.
service in place for as long as possibleJust because the email looks exactly like the
because some companies take ages to amendones you see from your usual bank, is it
their admin. When I was renting out propertyreally from them? How do you know? Fact is
I came across several cases of tenants buyingyou don't, and you could be in trouble. You
expensive goods from mail order catalogues incould be being targeted. Check it out
the previous tenant's or owner's names withthoroughly.
never any intention of paying for them. If
they were ever questioned about it, theyNever put screwed up docs in the trash, and
would immediately deny all knowledge of thetry to keep your rubbish secure. If you see
fraud, and the bills ended up on the formersome hoody sorting through your junk, the
occupier's  doormat.chances are he is not searching for scraps to
eat. He's looking for scraps all right,
Remember, accomplished identity fraudstersscraps of vital information from which he can
are patient people. They gradually build up abuild up a picture of you, your profile, your
profile of their intended victim, and they dodate of birth, your social security number,
not need a full set of documentation to getyour banking information, your driving
started. Perhaps they only need an old banklicence details, even your passport
statement to get going. Then they could knockinformation if they can achieve that, and
something else up on a PC, scanning anyit's certainly not funny of they do. Always
organisation's letterhead into their machinebe alert to identity fraud. Don't give these
to make the final documents look totallyhorrible individuals any opportunity to
convincing. With that they can apply for abecome you, because if they do, it could take
driving licence and with that mightyou years to untangle the mess.



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