Crime

12 Ways to Thwart ID Theft

More than 16.6 million people fell victim to identity theft in 2012 and lost a total of $24.7 billion, the Bureau of Justice Statistics says. If you don’t want to be one of them, prevention is simpler – and cheaper – than is a cure. Here are a dozen ways to help do that.

How to Prevent ID Theft

With technology come the cyber criminals who steal your identity, credit card numbers and bank account information. While you can’t eliminate all identity theft threats, you can reduce the risk with extra precautions.

Safeguarding Your Digital Info

What happens to all your online accounts when you pass away? In this age where we manage all financial matters online, a digital control plan with a list of accounts and passwords saves your loved ones unnecessary hassles.

My best friend died two years ago. I still miss him. We had a mutual pact. I had a sealed envelope and an encrypted hard drive in my friend’s gun safe eight miles away from my home office. He had a sealed envelope in my safe in my garage.

How to Stop Workplace Theft

Companies lose around 5% of revenues each year to employee theft, according to an annual report of the Association of Certified Fraud Examiners. Small businesses are especially vulnerable because they lack of proper controls. As a business owner, however much you trust your employees, you need basic strategies to reduce your risk of becoming a victim.

Stopping Tax-Related ID Theft

Identity theft is rampant. You can become a victim not only after carelessly using passwords and your personal information but also if you’re in the wrong electronic place at the wrong time, such during Target stores’ data breach last holiday season. You have little information more sensitive than that you write – and sometimes send electronically – on your tax return.

Managing Your Passwords

We maintain online accounts for essentially everything – banking, investments, shopping, email and the list goes on. As much of this information is private and sensitive, you must take online security and password protection seriously.

The Infallible Trading System

Imagine being able to trade stocks and knowing that you will make a profit every day. Of course, for the average investor, this is impossible. But mega-banks aren’t average investors. They do it with super-fast computers – and no scruples.

Avoiding Tax Scams, ID Theft

Did the Internal Revenue Service reject your tax return? Maybe you screwed up. Maybe too someone else filed using your Social Security number (SSN) – a mushrooming scam you now must guard against.

3 Money Traps to Beware Of

The world of finance has traps for the unwary. Even in a bull market, they can harm you, so it pays to be on the look out. The three that are most insidious: more complex rules on IRA rollovers, tax scams and too-high margin debt.

A run-down of these problems, for the cautious:

Speed Trading Does Rig Markets

To hear the blowback from Wall Street, Michael Lewis’s book slamming high-frequency trading is misguided, naïve and inaccurate. But the Lewis book, Flash Boys, is spot-on. HFT does rig the stock market against small investors.

His take:

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