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African Americans and Identity Theft
ID Theft increases during the holiday season; Consumers should take
extra precautions
Columbus, OH - 'Tis the season to be merry, give presents
and...protect yourself from identity theft? With increased shopping
and credit card use, the holiday season presents a prime opportunity
for identity thieves to steal consumers' financial information.
"This time of year should be filled with festivity and celebration,
but sadly, retailers aren't the only ones busy during the holidays,"
said Kirk Herath, Nationwide's Chief Privacy Officer and an expert
on identity theft. "Identity thieves see prime opportunities for
stealing and using financial information as consumers make more
trips to the mall and spend more online. "The best way for consumers
to enjoy the season without putting their financial information at
risk is to be aware."
Identity theft occurs in several ways. The following are some common
techniques by which identities are stolen, along with tips from
Nationwide, who has developed a unique Identity Theft protection
service, on how consumers can protect themselves.
Online scams: According to the Nielsen Net Ratings,
online holiday shopping increased 30% between 2004 and 2005 and is
only expected to grow in 2006. Ordering gifts online presents
opportunities for thieves to pose as legitimate retailers or to
collect financial information traveling over the Internet through an
unsecure Web site.
TIP: To avoid becoming a victim online, don't trust a company
that asks you to provide a Social Security number. Keep a printed
copy of your online order confirmations.
Shoulder Surfing: Harried shoppers and long check out lines
present a perfect opportunity for a thief to quietly look over
shoppers' shoulders and steal financial information.
TIP: To protect yourself from shoulder surfers, be aware of
your environment and shield your credit cards, checks, driver's
licenses and PIN numbers from wandering eyes. Also, watch out for
thieves using camera phones to snap a photo of your account number
and card.
Phishing: Some thieves trick people into giving up personal
information online by sending phony emails with links to fake
corporate Web sites asking you to update your billing information.
By visiting the site and entering the personal information, victims
inadvertently give the criminals their credit card numbers, PINs and
even Social Security numbers.
TIP: Legitimate companies would not ask you to provide
sensitive information like this via email. Do not provide this
information in response to an emailed request.
Phone scams: Be cautious in giving information to telephone
solicitors over the holiday season.
TIP: Ask the solicitors to send you information in the mail.
Skimming: Shopper information can also be stolen when a clerk
slides a credit card though a second machine - unrelated to the
purchase - that scans the information from the magnetic strip and
stores it until it can be downloaded onto a counterfeit card.
TIP: To protect yourself from skimming, pay with cash
whenever you can. When using a credit card, keep your eyes on it at
all times and carefully review your statements for unwarranted
charges.
Dumpster diving: Thieves will go through your garbage looking
for credit card receipts and other personal information to retrieve
your identification.
TIP: Shred anything with a bar-code or other sensitive
information.
"Smart shoppers not only make their list and check it twice, they
also take measures to secure their financial information," said
Herath.
About Nationwide:
Nationwide, based in Columbus, Ohio, is one of the largest
diversified insurance and financial services organizations in the
world, with more than $158 billion in assets. Nationwide ranks #98
on the Fortune 100 list. The company provides a full range of
insurance and financial services, including auto, motorcycles,
boats, homeowners, life, commercial insurance, administrative
services, annuities, mortgages, mutual funds, pensions and long-term
savings plans. The Nationwide companies include the country's
seventh-largest property/casualty, the fourth-largest homeowners,
the sixth-largest auto insurance group and the country's largest
farm owner's insurer. Nationwide Life Insurance Company, the major
subsidiary of Nationwide Financial, ranks 11th in assets according
to A.M. Best. For more information, visit www.nationwide.com
Nationwide and the Nationwide Framemark are federally registered
service marks of Nationwide Mutual Insurance Company. On Your Side
is a service mark of Nationwide Mutual Insurance Company.
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