The reason Visa has decided to open this program is that not requiring a signature on small transactions can increase the speed of checkout at retailers. The program has been used on a limited basis since 2003 and a Visa company spokesman said there was not an increase in identity thefts as a result of that implementation. That is why Visa believes an expansion of the program should not add to the identity theft problem.

Not everyone agrees though. The accounting firm of Sklar, Heyman & Co. has a fraud and financial forensics division. Jeffrey Sklar says that consumers are more vulnerable to identity theft when signatures are not required on purchases. Many retailers compare signatures on receipts to signatures on credit cards to validate the card user. In addition, another piece of ID is requested. This greatly reduces the opportunities for identity theft.

Mastercard has a similar program called Quick Payment Service Program. It has been in operation since 1991 and the list of retailers includes grocery stores and convenience markets and many others. The Quick Payment Service Program has a transaction limit of $15 to $50.

Both Visa and Mastercard reason that thieves are generally not going to steal goods they cannot resell. They odds are much greater of a theft at an electronics store then at a restaurant. But in an interesting twist, the Visa program does include electronic stores but the $25 limit should stop any major purchases as long as signatures and ID are required by the retailer.

Many households do not take the time to closely check their credit card statements. Consumers are especially lax when it comes to questioning small charges. It can take hours to dispute a charge and a small questionable charge is simply not worth the trouble of disputing. In addition, one spouse may assume the other spouse made the charge.

The founder of the Identity Theft Resource Center located in San Diego is Linda Foley. She says the Visa and Mastercard programs make her nervous. She believes that once thieves learn the new Visa program is in place there will be an increase in the number of small identity theft cases.

Consumers need to be very careful when using their credit or debit cards. For example, in the case of debit cards it is important to make sure no one can see the PIN number entered. It is so easy to become an identity theft victim when someone can see the PIN number you enter. Some people leave their receipts behind at places like convenience stores too. If the account number is not hidden on the receipt, it is easy for a thief to use that account number and PIN. It is wise to always take your receipt with you even if you don’t want it and then shred it at home.

Time will tell if the Visa No Signature Required Program will be successful.

The reasons for the policing difficulty are twofold. First is the fact that there are not enough police resources to track down the source of the thefts. Second is the fact that identity theft can often involve complex computer hacking that begins in places like Russia and China. It is virtually impossible to find out who is doing the hacking.

On the other hand, a lot of identity theft in Yakima Valley occurred quite simply. Checks or other documents containing personal information are stolen out of mailboxes. The consumer is unaware the documents are missing until the thief uses their information to steal funds or buys products using credit card or other account information.

According the Federal Trade Commission’s Consumer Sentinel Network, in 2008 there were 1.2 million complaints filed, and of those 26 percent were identity thefts. This means that 314,000 identity theft complaints were filed in 2008 and the numbers are sure to have grown in 2009.

Washington State, the location of Yakima Valley, is ranked 14th on the list of states in terms of numbers of complaints filed. The entire state had 5,800 complaints filed in 2008.

Gilbreath makes some suggestions of things consumers can do that minimize their risk of becoming identity theft victims.

• Check your credit report at least once a year

• Pick up your checks at the bank and don’t have them mailed to your home

• Never give out PIN numbers to anyone including family and friends

• Never give your personal information to someone on the phone unless you are assured it is safe to do so

• Beware of opening emails that you don’t recognize because they may contain viruses that track keystrokes or provide a portal to gain access to your computer

• Don’t leave card payments in your mailbox where thieves can steal your mail but instead place your mail in a mailbox

• Don’t throw credit card offers in the trash without shredding them

• Don’t carry your social security card in your wallet

Taking some precautionary measures really doesn’t require a lot of effort, yet they can prevent consumers from spending years trying to overcome the damages identity theft can cause.

In Yakima Valley, the Police Sgt. Tony Bennett says that most identity thefts are the result of fraudulently written checks. Thieves will steal checking account numbers and then have the number printed on checks they create. The police work the cases though, as mentioned, they can be difficult cases to resolve. Some thieves steal locally and then move on to another location.

If you find a fraudulent account on your credit report, the major credit bureaus can place a fraud alert on your report. You should have the account closed immediately of course, and then file a report with the police.

Approximately 43 percent of identity theft cases come from low-tech means like stolen wallets and sensitive information on important documents. This is in stark contrast to what most Americans are accustomed to when they think of identity theft: some anonymous hacker stealing their information right from their computers.

That’s not all, though. Just like it isn’t linked only to computer geniuses, recent studies have shown that identity theft is not dominated by any one group of people. Some identity theft offenders strike from the street, while others are white-collar, and a whole range in between. The only thing that really unites all of these identity thieves is a desire for money. Usually, both street-life and white-collar types are struggling to pay for more than they can afford, and they turn to identity theft to help them accomplish that.

There are a number of different ways that these identity thieves can get a hold of someone’s identity. Some ways can be as low-tech as dumpster diving, or as straightforward as bribing someone who works for a bank, mortgage company, car dealership, or state agency to provide them with the information they seek. Identity thieves also steal mail from apartment houses and businesses to find the information they need. Some even pose as fake employers putting out a job advertisement, and people desperate for a job send in their applications electronically, including dangerous information like social security numbers or account numbers in them.

Usually, identity thieves use this information to take out new credit cards, secure a bank loan, or withdraw money from existing accounts. Whichever method they choose, their actions are likely to ruin the victim’s credit, which is devastating in any economic time, but even more painful when credit is already so tight. A tragic number of identity theft victims also lose the money that was stolen, and it can take months or years to fully recover from a theft.

One of the biggest problems with respect to identity theft is that most Americans are ignorant of how identity theft can happen. It isn’t just leaving private information on the Internet for people to find, or having your computer hacked into. Any documents with your social security number, credit/debit card number, checking or savings account number, and other sensitive information can easily result in an identity theft.

It’s difficult to say why so many Americans are more worried about identity theft coming from a hidden assailant across the Web than from a missing wallet or important document, but some suspect that it’s the way identity theft is portrayed in the media. The unfortunate truth is, a story about some genius teenage hacker from halfway across the world is much more interesting than another story about someone who got his wallet stolen.

Nevertheless, it’s important to be on the lookout not just for virtual theft, but also theft in the form of documents, credit/debit cards, and more. If Americans are more alert about the different ways identity theft can occur, its prevalence can hopefully diminish over time.

This underground market is barely a blip on the American authorities’ radar and it’s occurring from one coast to the other. There are actually two ways that illegal immigrants are getting SSN cards. Mexicans that has a legal SSN card and who have returned to Mexico for whatever reason, will lend, rent, or sell their SSN cards.

This is a win-win for both parties. The person who buys the right to use the social security number gets to work in the US with no questions asked and the person who the SSN belongs to continues to enhance the unemployment and pension benefits. Government officials know that this has become a major problem and it’s a serious crime.

Today’s illegal immigrants can have a fake social security card and green card printed at the flee market for a couple of hundred dollars. Numbers are just plucked out of thin air. The problem with this method is that it’s caught at tax time. Where as using, a stolen or borrowed SSN doesn’t cause any problems with the taxman.

But the biggest problem comes with SSN cards that are stolen from U.S. citizens. In most of these cases, the legitimate owner of the number is using it in another part of the country. Big busts can sometime break up these rings but not always. Your SSN can be stolen not only so that illegal immigrants can work, but also it’s the start of stealing ones identity.

It can be obtained by stealing a wallet or purse, or even intercepting your mail. Sometimes rummaging through the garbage is all it takes. It’s important that you don’t give out your SSN to anyone and that you destroy written material using a shredder so that it doesn’t get into the wrong hands.

If you suspect someone might be using your social security number you should contact the authorities and ask for a form SSA-7005 which you can obtain at http://www.ssa.gov/pubs/10064.html

It is true that scammers and thieves can obtain financial details by stealing or hacking electronic equipment. However, it is not true that you will have to pay the entire bill if you have been hacked or scammed. Check with your credit card provider as to what are your liabilities, in most cases it is only $50, provided you notify the lending organization in reasonable time.

Recently, credit card insurance and security has been a prolific scam, with people phoned and harassed using scare tactics. These are some of the scams that thieves are using

Pretending to be a representative of your credit card company such as VISA or MasterCard and insisting that you must have credit card protection.

Calling and insisting that they need to verify your credit card information for some reason. Usually, that they have been instructed by the Federal Trade Commission to call credit card holders to obtain their credit card numbers and expiration dates.

Another one is insisting that your credit card numbers might be wrong, or that they need to verify and you have to divulge your numbers in order to receive credit card protection.

Pretend they are calling to check the security of your credit card number for possible fraud, then insist they, or anyone else, could get your credit card number off the Internet at anytime, so you need to buy credit card insurance

Inform that you are liable for all unauthorized charges on your credit card account, that a computer bug could make it easy for thieves to place unauthorized charges on your credit card account.

Imply that they are calling from “the security department” and want to activate the protection features on your new card or check that your card is secure.

One of the most important steps consumers can take to limit the possibility of their identity being stolen is making it difficult for would-be thieves to obtain those important account access numbers. Once a thief has a social security number, a birth date and other relevant information, it’s possible to open an account online or even borrow money.

The Wall Street Journal has reported that the fear of identity theft is driving a new industry and changing consumer habits. There are now neighborhood events called Shredder Day that are held. A mobile shredding unit is parked in a central location and people can bring all the paper documents they want to have shredded.

Shredder Day events are sponsored by a number of organizations including the government, local businesses and neighborhood groups. Many times the event is turned into a charity fund raiser too.

People showing up for these shredding events bring varying amounts of documents. Some carry their paperwork in boxes while others pull children’s wagons. They bring bills, advertisements, bank statements, account statements and tons of other papers that households collect. Most houses have a stack of paper sitting somewhere that is a mishmash of personal documents and unimportant mail that will be looked at “one day”.

Identity theft is a serious affair deserving serious attention. One of the reasons people accumulate documents with sensitive information in their homes is simply because it would take too long to shred all the material using one of the small home shredders sold in local discount stores. The mobile shredding trucks carry industrial sized shredders that can quickly turn many pounds of paper into confetti. In fact the large shredding can shred 6,000 pounds of paper in one hour.

Many people have become victims of identity theft because they made it easy for thieves to obtain their information. In one case the thieves broke into a house and stole the middle set of checks from a box of checks. They didn’t take anything else in order to not arouse suspicion. The owners discovered the checks were missing when some of the them were returned for insufficient funds.

It doesn’t take much information for a thief to steal an identity. All that is needed is a victim’s name, address, and social security number.

Of course there is another reason it’s important to shred documents and it has nothing to do with identity theft. Paper that is shredded during Shredder Day using a shredding company’s unit is then recycled into other products like paper towels or napkins.

If your neighborhood does not have a Shredder Day then it’s a good idea to contact your local governmental office responsible for management of the environment and see if

The simple convenience of credit cards brought with it a surprisingly easy opportunity for thieves to take advantage of unsuspecting consumers and use their cards – and identity – to steal money and make fraudulent purchases. Security technology quickly caught up, however, and now the issue is one that is being fought aggressively by the credit industry.

The latest in the war against identity theft is the ability to freeze credit. Consumers are now able to utilize strong protection by means of freezing their credit reports with the primary agencies that report credit. This is possible even regardless of state laws.

The first one to have done this was TransUnion, which granted credit freezes to all consumers on October 15th. It only took a few weeks however for Equifax and Experian to do the same. Since the first of November, consumers have been given another valuable tool to protect their finances and their identity.

Victims of identity theft have this option for free, while those who haven’t been hit by the crime of the new century will have to pay a $10 dollar free in order to place, lift, or slowly thaw their credit. The idea behind the maneuver was to provide consumers more opportunities to choose a fraud solution for their specific needs. It follows a trend to give consumers more power to control their reports and to make certain that their information stays secure.

That’s because late fees on credit cards have become astronomical. If, for instance, you fail to pay your January credit card bill on time, you could be hit with a $39 late fee.

That’s in addition to the higher interest rates you may be charged for your delinquency. If you are late just one time in paying your bill, you could face an annual percentage rate of 30 percent or more. In addition, your credit card company could end up reporting the late payment to credit bureaus. The bureaus may make the fact known to your other credit card companies, which could result in higher interest rates on your other credit card bills. That could mean you’ll be paying hundreds of dollars more each year in interest charges.

However, if, over a 6 or 12-month period, you pay your bills on time, you could see your interest rate fall once again.

The reason why credit card companies raise rates is that they maintain that a customer who doesn’t pay on time represents a greater risk. According to the American Bankers Association, a late payment may be a sign that the customer will not be paying off his or her balance.

Meanwhile, consumer advocates are arguing that interest rates and late fees have soared to outrageous heights and that it’s time for regulators to take action. It’s unfair, they say, for one financial mistake to cause a customer possible financial ruin.

Customers who see their interest rates rise have the option of switching their balances to lower-interest cards. However, they may find that their card offers dry up when their credit scores worsen. Financial experts say that the bottom line is that consumers need to pay their credit card bills on time-or face hefty penalties.

If, unfortunately, you do become a victim, there are ways that you can lessen your financial pain.
A poll conducted by Javelin Strategy and Research indicated that victims who discover the theft on their own tend to straighten out the situation much more quickly than those who don’t find out about the theft until their bank or a collection agency tells them about it. Those who discovered on their own that they were victims of identity theft tended to clear their names about 65 days after the fraud began, while those who found out the hard way had to wait about 104 days before the mess was straightened out.

Financial experts say it would be worth your while this year to keep a watchful eye on all your account balances, including credit card accounts, checking accounts, and savings accounts. That way, if thieves do strike, you should have an easier time recovering from it.

One wise strategy is to enroll in an online banking program. That way, you can receive e-mail alerts if there is a transaction of more than $100 posted to your credit account, or if there has been a charge posted from overseas. Likewise, Washington Mutual will e-mail you a message if there’s been a withdrawal on your account over a certain threshold amount.

If you enroll on Mint.com, you can enjoy daily monitoring of your checking, savings, credit card, and PayPal accounts. That way, you can keep track of deposits, fees, and other transactions without having to monitor multiple websites. Mint.com will also send you e-mail alerts if withdrawals and charges go over a certain amount. The site is also secure, since you cannot complete transactions via Mint.com. It is simply a means of monitoring what goes on in your accounts.