‘Never, ever use a debit card,’ warns fraud expert and ex-con artist—here’s what to do instead

#News(Security) [ via IoTGroup ]

Headings…
‘Never, ever use a debit card,’ warns fraud expert and ex-con artist—here’s
Protect your identity
Technology is the identity thief’s best tool
Don’t use a debit card

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Every year, millions of American consumers — nearly 7% of the population — are victims of scams and fraud.
Identity theft is the deliberate use of someone else’s identity (e.g., name, address, Social Security number, bank accounts) to get money and credit, obtain employment, steal property, falsify educational and other credentials, access healthcare and more.
The worst-case scenario is when an identity thief drains your bank accounts, takes your property and sells or trades your sensitive information.
In 2017, during talk I gave at Google, a young man posed a question that I’m often asked: “Given all the advancements in computing and technology, isn’t it harder for today’s criminals to steal your identity than it was back in the 1960s?” The answer, I told him, is no: It’s not harder.
Just think about all that’s available to you with just a few taps on your keyboard: Credit card reports, bank account numbers and personal and family details.
With today’s technology, all a thief has to do is go online, give a check-printing service your name and account number, have the checks sent to a post office box and voilà — there goes the contents of your checking account.
In the 1960s, when I wrote fake checks under a business’ or an individual’s name and account number — in essence, stealing their identity — I needed a four-color printing press, typesetting equipment and the technical know-how to run those machines.
Next, I’d have to make a phone call to the accounts receivable department of the company whose identity I plan to steal and ask for writing instructions so I could ostensibly wire funds I owe them.
And just like that, I’d know which bank the company uses and its account number at that bank.
As I said at the Google talk, a debit card is certainly and truly the worst financial tool ever given to the American consumer.
It’s simple: Every time you use one, you put your money and your bank account at risk

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