Issues with the US Social Security Number System
Issues with the US Social Security Number System
The obvious issues that lead to SSN identity fraud are the overuse and misuse of this information. While it is not a legal obligation to provide your SSN to companies other than government agencies, and insurance and credit companies, it is still the standard form of personal identification, and it is often a necessary prerequisite in order to do business with some companies.
However, when it is required that a customer use his or her SSN often, the security level of that identifier drops significantly. Companies often compiling customer lists which contain SSNs due to the amount of information they convey about a person. Websites such as SSN Background Check and SSN Lookup allow people to easily turn this number into a vast degree of personally identifiable information.
Therefore, fraud on this type is on the rise, as one can expect. One common technique for obtaining this information is to steal someone’s physical mail, which can result in the fraudster obtaining the person’s full name, address, and other related pieces of information. Mail containing personal information which is dumped in the garbage without being destroyed properly is also susceptible to being stolen. Both of these are on low end means of identity fraud … yet they are still prevalent and contribute to the problem.
Some states have begun to address this issue of SSN related identity fraud. The country’s overdependence on SSNs as a personal identifier and the irresponsible misuse of it by companies has been address to varying degrees in different states and with varying levels of success. Regulatory laws instituted in the past several years have created fines for companies that allow consumers’ personal identities slip into criminal hands. However, these measures alone are not enough to resolve a problem which is so widespread. Most of the laws are aimed at punishing companies or criminals after identity fraud has already been committed.
The major problem with SSNs which is not often discussed in relation to SSN related fraud is the permanence of the SSN. The number simply never ‘resets’. If you lose your Social Security card you are not provided with a new number, just a new card containing the same number as you have always had. Therefore, if one’s card was stolen, it is straightforward enough to get a new one, but the original theft is never addressed.
Your Social Security Number cannot be easily changed without special assistance or circumstances. If someone is to use your number to acquire credit through your name, there is generally a long lag time before you realize the problem. Often, realization doesn’t occur until several months later when the credit company has phoned or sent a letter to you demanding repayments, or you yourself have tried to acquire credit only to discover that your credit rating has been severely damaged.
A better system would be that, when your SSN was stolen or lost, you were provided with a new number as well as a new card, then the old one would become disconnected to you and therefore any criminal misuse of your old number would not adversely affect you personally. This is a common practice for banking and credit companies with credit cards; it should be adopted by our government as well. A simple precaution such as this can do wonders to address the inherent issue of SSN identity fraud.
The author of this article (Keira B.) is a retired government official with years of experience dealing with Social Security legislation, and the needs of retirees.
Article from articlesbase.com
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How to Save Yourself After Losing Your Wallet
How to Save Yourself After Losing Your Wallet
Losing your wallet can be quite frustrating. It can be even more heart-breaking when you realize that all your valuables such as credit cards, debit cards, hardly earned money, security cards, personal id cards etc are lost with the wallet. So here we discuss what you should do in case of a lost wallet incident. This will certainly save you from the possible crimes that could occur from identity theft.
The first step you should do when you realize that your wallet is lost is to report to the police station. File case against pick pocketing. You can call 911, 611 or 311 to contact the nearest police station. This will also enable you to get a replacement driving license from the DMV. Also verify the procedures that can be done to prevent crimes due to identity theft.
Next step is to call the bank authorities where you have held up a bank account. You should act quickly in order to block your accounts. There is a possibility that the thief could use your credit or debit card at any banks or ATM’s to withdraw your money. So as soon as you realize that you lost your wallet, contact the bank and report the incident. This will authorize them to officially freeze your account transactions. Also make sure to change all the passwords to your account once you recover the credit and debit cards.
You can get a driving license or vehicle permit from the DMV if you present a report from the police. To avail such a facility you should present 2 copies of your ID card. Checking out the DMV website will help you in validating the process and to make it easy.
In case you have lost your social security card, you can get a second one from the concerned department. First report the incident of wallet theft. Present copies revealing your identity and its proof. Fill out SS-5 form, which will help you get a replacement for the lost social security card.
It is always good to avoid problems, than solving it after its occurrence. Hence do not carry very important and private information in your wallet. Carry only the necessary amount of money and cards with you. Always keep an account of your contents in your wallet. This helps you to remember what all things you lost with your wallet.
iWallet Corp introduces the new technology hard case wallet named iWallet. This wallet uses bluetooth technology as well as biometric fingerprint reader to prevent identity theft. Find more details online
Article from articlesbase.com
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Benefits of Prepaid Debit Cards
Each of the above methods worked for transferring funds, but each had a downside as well. Either the money took too long to reach the recipient, the fees associated with the transfer were excessive, or there were security issues that could cause the money to be lost. One of the benefits of technology has been the advances made in making transfers faster, safer, and more affordable. One method of sending money that encompasses all three of these important characteristics is transferring money through a prepaid debit card.
Faster Money Transfers
A prepaid debit card enables money to be transferred almost immediately, taking the funds directly from a credit or debit card. An individual seeking to send money simply needs to establish a relationship with a site offering this service. Currently, a US resident needs to have a valid Social Security number and a Visa, Mastercard, or valid checking account in the United States. A debit card is sent via Fed Ex to the recipient of the funds, who will then receive the PIN number from the person sending the money. This card can be used again and again for money transfers over a long period of time. This will make money available for the recipient much faster than some of the more traditional methods.
Safer Money Transfers
Each prepaid debit card is sent without a PIN number, ensuring that if the card is lost or stolen, funds cannot be accessed and end up in the wrong hands. Great strides have been made in the security of prepaid debit cards. In most cases, a PIN number is assigned by the person sending the funds, who has the responsibility of contacting the recipient of the funds to disclose the PIN. This method reduces the risk of loss for the sender and the recipient.
More Affordable Money Transfers
The money transfer business is becoming more competitive all the time. This great new for consumers sending money. Using a prepaid debit card, money can be sent for as little as $5, just a fraction of the cost associated with wiring funds internationally or purchasing money orders.
In a fast paced world, technological advances are making it possible to send money more easily and affordably than ever before. It will be fascinating to see what the future holds in this increasingly competitive business.
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Categories: Lost social security card Tags: Benefits, Cards., Debit, Prepaid
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A Prepaid Visa Debit Card: The Better Choice for Consumers
Outlined below are just a few (of the many) benefits of prepaid Visa debit cards that are often overlooked.
No Debt
This fast paced world filled with enticing credit card offers has millions of people in debt. With a prepaid card, the money on the card is your hard earned money. The routine of swiping a credit card carelessly can be extremely detrimental. When using a prepaid visa debit card, your mind set is different than with the credit card philosophy of “buy it now, pay for it later.”
Free Direct Deposit
As with traditional banking accounts, you can have part or all of your pay checks directly deposited into your debit card account. Additionally, you can set up direct deposit for social security payments and other government benefits. If you don’t have a bank account, paycheck cashing services can be expensive and a hassle to get to after work. With a prepaid visa debit card, the deposits are free and the money from your pay check is automatically placed onto your card.
More Secure than Cash
Whether you’re going on trip or simply don’t like the hassle of carrying cash, a prepaid visa debit card has proved safer time and time again. Your card, account, and pin numbers are unique so they can only be accessed by you. Carry a small and discrete card instead of a wade of money. If your card gets stolen or lost, you can cancel it and transfer funds easily, if your cash gets lost or stolen, you are simply out of luck.
Pay Bills Online
Why mail a check or go directly to a merchant to pay with cash? The internet has made paying for almost any bill online fast and reliable, as it should be. Take advantage of this and use your prepaid visa debit card to pay for your gas, telephone, or electric bills. Many times you can remove the hassle associated with bill paying, such as getting the payments in on time or budgeting for the bill cost, by using a prepaid visa debit card.
Convenient (use anywhere Visa debit cards are accepted)
Often, people think that not having a traditional bank account will take away some of their freedoms when it comes to the ease of spending money. Almost anything you can do with a standard banking account, you can do with a prepaid debit card. You can get cash from ATMs worldwide and add money to your card with most checking and savings accounts. With a prepaid debit card, you will never be inconvenienced. From bank transfers, to online shopping or renting a car, there a variety of prepaid Visa debit cards allow you to spend your funds, any place, and any time.
No Surprises
Banks change account plans and have stipulations buried within their contracts. With a prepaid visa debit card, there are no hidden fees and no interest charges. You’ll always know where you money is located without being charged a fee to keep it safe and secure. Unlike traditional debit cards, you won’t have to worry about overdraft fees; you can only spend the money loaded onto the card. You can check your balance 24/7 online, via text, or with a customer service representative, so there are never any surprises when it comes to your money.
Michael is currently a 4th year accounting student at the University of Texas at Austin. He is particularly interested in business finance and debt. Additionally, he is writing his thesis on prepaid debit cards prepaid credit cards for teens, distinguishing how young people learn the importance of handling their money only by hands on experience.
Using Credit with Security in Mind
Identity theft happens when someone uses your personal information without your permission to commit fraud or other crimes. Identity theft happens when someone uses your personal information without your permission to commit fraud or other crimes. Here are some important things you can do to reduce your chances of becoming a victim:
Do More than Sign the Back of the Card
It has become commonplace for merchants to neglect actually comparing your signature to the back of your credit card. One way to protect yourself is to write on the signature line “ask for identification.” The merchant will have to ask for your driver’s license to confirm your identity.
Review Your Monthly Statement
Don’t assume that your monthly statement is accurate. Many cases of identity theft have gone undetected because a review of the statement was neglected. Compare your receipts with your monthly statements carefully every month. Notify the issuer immediately, if you notice discrepancies.
Precautions to Take When Ordering over the Phone
The most important point about placing a phone order is that you’re the one making the first contact. When you are solicited by a telemarketer, do you really know that it’s a legitimate offer? If you’re interested in a telemarketer’s offer, request ordering information to be mailed to you so that you can review its authenticity.
Keep Your PIN Number Secure
The first numbers a thief will try to access your account are your personal identification statistics such as your birthday, address, phone number or social security number. NEVER use these as your personal identification number (PIN). NEVER carry your PIN in writing; file it only in your memory!
Protect Your Account Numbers
A thief with access to one of your account numbers can do a lot of damage, especially over the phone. For this reason, it’s imperative that you destroy all evidence of your number when you discard documents. A paper shredder is perfect for this purpose. Never put your account number on your check, on the envelope or postcard.
Urgent Response to Lost/Stolen Cards
The sooner you respond when you’ve realized a card is lost or stolen the less damage will occur. Report the loss to the issuing company, as soon as possible. If the card has not been used, you will not be held for any unauthorized charges. If the card has been used, your liability is the first $50. If the number is stolen but not the card itself, you are not responsible for charges.
Protect Yourself while Shopping Online
More people are enjoying the convenience and ease of shopping online. The basic rules of traditional shopping apply to internet shopping along with some additional ones. To have a safe and enjoyable shopping experience online consider the following:
Your social security number or banking information should never be required to make a purchase. Make sure that the site is secure which is indicated at the bottom of your browser window by an unbroken key or padlock. This indicates that your credit card data is securely transmitted . Print or electronically save all records of your internet purchases. Change your passwords often and keep them private and secure offline. Understand all the merchant policies including delivery charges, returns and warranties. Honest and safe internet merchants will readily have contact information available including a physical address and phone number.
Noreen Ruth is a writer specializing in credit card and financial information, she has extensive knowledge and experience writing articles that help consumers use credit to their best advantage. For additional articles about everything you need to know about credit cards and 0% interest credit card applications, visit WowCreditCards.com – Credit Card Applications!
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