Fraud Author Tracy Coenen

It has become commonplace to hear reports of data compromises at businesses that store large quantities of consumer data. Companies like ChoicePoint, Citigroup, and LexisNexis have made headlines by misplacing or exposing consumer data. Computer hackers can expose millions of individuals in mere minutes.

While large-scale data compromises unfortunately are becoming more common, they should not overshadow the minor incidents that start an identity theft scheme.

Even sophisticated fraudsters sometimes use low-tech methods to accomplish their crimes because they’re so easy.

Outgoing mail is an easy way for identity thieves to get their hands on personal information. A mailbox at the end of a driveway with a flag up might as well hold a “steal me” sign. These mailboxes are not secure, and it only takes seconds for a thief to steal your mail which includes account numbers and personal information.

Dumpster diving is one of the less glamorous ways to get personal information. Thieves won’t hesitate to dig through trash to look for bank statements, credit card receipts, and credit card offers.

Modern day methods of stealing data include skimming and phishing. Skimmers obtain debit and credit card numbers by swiping your card through a small data storage device. The device harvests the information on the card’s magnetic strip and allows the scammer to create cards with your account information.

Phishers pose as legitimate companies via email and convince consumers to “verify” their personal data. Often they will claim that account data has been compromised, and their account will be frozen unless they provide their social security number, password, and other identifying information.

The Internet has created many opportunities for data theft. While stealing wallets and purses might be one simple way to obtain personal information, technology provides access to many more potential victims.