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Old 03-24-2015, 02:01 PM   #21
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I think it was withdrawn from checking.

He used the term "swipe" for steal.
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Old 03-24-2015, 02:16 PM   #22
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Originally Posted by audreyh1 View Post
We also get email notification on any credit card charge, check clear, ATM withdrawal, etc. above a certain $ amount. It's very unlikely you would not notice a large transfer within a few days - well under the 90 day window.
We do this and I don't know why everyone doesn't. We also track everything on mint.com.

In today's world you need to be aware of what's going on around you. Certainly you should be aware of any money flowing out of your accounts.

The tools are out there, learn how to use them!
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Old 03-24-2015, 02:16 PM   #23
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Same concept. How do you not know $50K (or any amount for that matter) was stolen from your checking account--or any account--in the last 3 months?
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Old 03-24-2015, 02:25 PM   #24
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I think it was withdrawn from checking.

He used the term "swipe" for steal.
It was from his checking account. I am sure there was that amount in deposits that month too. His places rent for $25K a week and there are 4 of them. So if he only looked at total balance, without thinking, it slid by him.

And yes, all I could do to not look at him and say, "and you didn't catch it within 90 days". But his Dad is elderly, process of moving him twice to facilities the last 3 months, he, himself, moved to a new house in Dec. and put the old one on the market, rentals on his resorts homes, two week vacation in the Dominican Republic this month….etc In other words a lot going on in his life. He does a lot of the rentals himself and the money managing…etc. If he had left the book keeping up to his accountant, I feel they would have caught it within that 90 days.

Good suggestion on the double verification step for transfer Audreyh1.
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Old 03-24-2015, 02:45 PM   #25
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You might consider posting fake info so as to pollute the databases and obfuscate the correct info, aka the GIGO strategy.
Don't want this to go political so I'll just stick to the issue and maybe someone will have solutions for me--

This is one of the big complaints I have with some of the new medical laws and the ACA. Megacorp demanded to know the SS# of my children to tie it to the medical insurance. I told them they had the SS# of my children for my taxes but not my insurance. This was before ACA and I didn't want any medical issues to be tied to my children going forward but technically it was required by law. After ACA it became an issue of tracking that I have insured my family--again they really have other ways of confirming that. What I think they really want is to track the medical info on everyone in the US. There are rules in place to allow them to do so and you no longer have any say in the matter. Its interesting that Megacorp has the SS data but technically they can't share it even to comply with the law. I've been told that the IRS may come calling at some point. So far I've resisted and it looks like I will make it out of Megacorp without giving in to this but I suspect I will have to provide that data to get family insurance after I leave.
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Old 03-24-2015, 05:32 PM   #26
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...
Sorry for the rant, but it seems nobody is listening. I feel helpless that all of our dollars are digital and will be so easily hacked.

...
From past posts I think you are a smart guy and have taken several precautions. Is this just free floating anxiety? I can sympathize with that feeling but the rational side of me says that I've taken much better then average precautions like mentioned above ... credit freezes, 2 factor authentication, pretty secure computer, etc. That's the only way I know of dealing with the anxiety.
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Old 03-25-2015, 06:01 AM   #27
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From past posts I think you are a smart guy and have taken several precautions. Is this just free floating anxiety? I can sympathize with that feeling but the rational side of me says that I've taken much better then average precautions like mentioned above ... credit freezes, 2 factor authentication, pretty secure computer, etc. That's the only way I know of dealing with the anxiety.
Yes, we have taken some precautions like credit freeze and a secure computer that is only used for financial sites (no web browsing or downloads on that one). I have 2 factor authentication at some sites but not all (not all offer it yet).

I do not think the average Joe is taking these precautions though and actually they are going even more digital with paying for items via cell phone. My wife works at a software firm with people making big bucks who do financial transactions on their phone. A significant number of them use 1111 for their phone password and their other four digit codes because it is easy to remember. These are people making $250k+ a year in the software industry where they should know better!
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Old 03-25-2015, 08:46 AM   #28
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I use my mother's birthday - January second, 1934. Nobody would guess that.




(not really - saw that last night and got a chuckle)
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Old 03-25-2015, 09:01 AM   #29
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I do not think the average Joe is taking these precautions though and actually they are going even more digital with paying for items via cell phone. My wife works at a software firm with people making big bucks who do financial transactions on their phone. A significant number of them use 1111 for their phone password and their other four digit codes because it is easy to remember. These are people making $250k+ a year in the software industry where they should know better!
Luckily financial apps are getting smarter about security.

I do check mint on my iPhone, but it requires TouchID to use it.

One good thing about TouchID is that it makes using a long alphanumeric "PIN" to unlock my iPhone or iPad much less onerous since I rarely need to type it in.
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Old 03-25-2015, 09:42 AM   #30
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I'm always trying to find the right level of security and probably overdo it. Because of something Audreyh1 said on this thread, I went in and added a few new alerts to our credit card account and reviewed the other alerts.
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Old 03-25-2015, 11:37 AM   #31
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I know that different financial institutions have different regulations that apply to them.

In the case of FDIC banks -- aren't they responsible if they transfer funds to an unauthorized recipient if you notify them promptly of the error?

In the case of credit cards I believe that you have 60 days to notify them of unauthorized purchases which by law they must reverse.

With IRS refund fraud, (ie someone claiming a refund on your account before you file your taxes), I believe that the IRS will make you whole although it may take a few months.

With credit freezes applied at the credit bureaus, no one except a few named exceptions (ie law enforcement etc.) will be able to pull a credit report on you and open up new credit accounts.

That all being said, my biggest remaining concerns are
- 401k accounts
- IRA accounts
- after-tax brokerage accounts

In my case that is where the majority of my funds reside and I am not sure about the legal protections in these cases.

I find it interesting that the Lifelock insurance strangely does not mention these types of accounts specifically in their fraudulent withdrawal coverage, but merely "checking, savings, money market, or other financial accounts" -- sounds like those are already covered by the regulated banks as described above.

-gauss
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Old 03-25-2015, 11:46 AM   #32
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I use my mother's birthday - January second, 1934. Nobody would guess that.




(not really - saw that last night and got a chuckle)
Actually if one's mother is deceased, one can likley find it in the Obituary, or on find a grave if the dates beyond years are engraved on the stone. It is amazing how much info is found in Obituaries. The maiden name, the childrens names, where they live etc. So mining old newspapers for obituaries could assist in identity theft. (Also where she was born and in some cases her parents names).
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Old 03-25-2015, 11:56 AM   #33
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Actually if one's mother is deceased, one can likley find it in the Obituary, or on find a grave if the dates beyond years are engraved on the stone. It is amazing how much info is found in Obituaries. The maiden name, the childrens names, where they live etc. So mining old newspapers for obituaries could assist in identity theft. (Also where she was born and in some cases her parents names).
Not sure if the original birthday comment was tongue-in-cheek or not, but just for the sake of caution I share the following:

Doesn't the Social Security Master Death List contain dates of birth? I know that they now suppress SSNs for the first ten years or so after death but I think everything else is open.

-gauss
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Old 03-25-2015, 12:05 PM   #34
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Not sure if the original birthday comment was tongue-in-cheek or not, but just for the sake of caution I share the following:

Doesn't the Social Security Master Death List contain dates of birth? I know that they now suppress SSNs for the first ten years or so after death but I think everything else is open.

-gauss
Further after 25 years one can get a copy of the death certificate with no ID.
But these don't give the family relationships downward (a death certificate does say who the persons parents were and where they were born)
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Old 03-25-2015, 02:07 PM   #35
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Why so serious? January second, 1934. 4 digit pin. pin would be?
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Old 03-25-2015, 02:42 PM   #36
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Why so serious? January second, 1934. 4 digit pin. pin would be?
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Old 03-25-2015, 04:07 PM   #37
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As far as I'm concerned, when they say that they might as well be saying, "We sold it to hackers on the internet!" and maybe they did. I'd be willing to bet they could make considerable money under the table by selling customer information.
And they do reserve the right to do so! When logging into my banking account yesterday, a notice was posted that until I checked off the updated privacy and TOS agreements for the online bill-paying function, I wouldn't be able to use them anymore. In my usual harumph mood brought on by such things, I copied the 1,875 word, and 13,248 word agreements, respectively from the roughly 80 character by 6 line text windows and pasted them into a text file so they could actually be read. And I read them, and saved them for future reference. In a nutshell, they claim the right to "share" customer data for marketing purposes with "affiliated" business (defined as being under their ownership or control), and reserve the right to also share with others (I read that as profit from) customer data, although they do not do that now, and if they ever did desire to customers would be given an opportunity to opt out. Hmm, 'opt out', as in you can't use our services anymore if you don't say it's OK?

Oh, well - filed the docs, and agreed to the TOS. Don't care to go back to snail mail for paying recurring bills, but if I ever see an 'opt out' message disguised as 'We have a wonderful opportunity for you' I'll explore other options. But, the other options are pretty much using the same service from a different bank, which will undoubtedly be keeping up with the Jones and doing the exact same thing, or using a mega-bank credit card that has probably already been sharing data for profit for years. Of course, the shared data may be obscured by averaging or being supposedly non-identifiable, but will (or do they already?) hackers become so elaborate and sophisticated that combining legally available, for a price data with hacked identifiable data on a large enough scale expose us all to great economic peril? Part of me does consider the potential threat from geopolitical adversaries to inflict a mass economic disaster through an elaborate and intensive breach using a vast accumulation of data. Capitalism supports and defends making a buck with consequences sometimes unseen, which of course would be a painful irony if capitalized on by an adversary. </tin foil hat>
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Old 03-25-2015, 04:22 PM   #38
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With IRS refund fraud, (ie someone claiming a refund on your account before you file your taxes), I believe that the IRS will make you whole although it may take a few months.
The state of Ohio started using an "identity confirmation quiz" when some folks submit income tax returns that are getting a refund.

IDQuiz

I haven't gone through this - we always work it so we pay a little - but apparently the local TV news folks are failing it left and right. Or so they keep joking about it on their newscasts.
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Old 03-25-2015, 04:23 PM   #39
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I received my letter from Anthem about two weeks ago saying my data was hacked. The letter pointed out that my medical information was not compromised. Who cares about that? I would rather the hackers have my medical info than my financial info.

So they offer 2 years of credit monitoring. What's to prevent the hackers from sitting on the data for 2 years then using it? Plus my kids data was also hacked. What a PIA.


Sent from my TRS-80
Medical fraud is also on the rise:
..It soon became clear that someone else had used the elderly man’s health insurance card at the ER to ..

What's behind the dramatic rise in medical identity theft? - Fortune
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Old 03-25-2015, 05:14 PM   #40
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Just received my chip CC but no one uses the other side yet. ...
You too?? I tried to use it today at a parking garage and the terminal couldn't recognize the 'strip'. I cut up the old card right after I activated the new one. I checked to verify that the issuer had activated it. Good think I had another 'old fashioned' Visa card or my life would be a re-run of the M. T. A.
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