Letter from the CEO

In this issue, we look at several tactics identity thieves use to intrude in your life. Payday loan scams, costly and complicated account takeovers, and shoddy background checks are new means crooks use to wreak havoc. We explain the tricks, how they work, and tips to keeping your identity—and your bank account—safe and secure. Your identity is a vault. We’ll help keep the burglars out.

Wednesday, May 09, 2012

Way back in 2007 when a hacker named Geohot cracked the first iPhone, allowing users to run the phone on carriers other than AT&T, someone asked Steve Jobs what he thought about it.

“This is a constant cat-and-mouse game,” said the late, great sage of Silicon Valley. “People will try to break in, and it’s our job to keep them from breaking in.”

This is how we look at identity theft here at CyberScout. The crooks won’t stop trying to break into your life, and we won’t stop fighting to prevent them from breaking in. This month, we’re highlighting some of the tools we’re seeing identity thieves using to force that break-in, including:

·   Payday loan scams , where con artists call victims and demand money for imaginary loans. Often the victims are users of payday loan services, which offer quick money at a high rate of interest, compounding the confusion.

·  Account takeover , a complicated and costly type of identity theft where criminals take over victims’ phone lines or redirect financial documents in hopes of a major payday. One victim tells the harrowing story of watching her $150,000 rainy day fund drain away. But we’ll also give you expert tips on how to avoid becoming a casualty.

Finally, we’d like to call your attention to a new and troubling trend:
the shoddy background check . With little regulation and a lot of money to be made, more background check services are springing up. There is a demand, with more than 70 percent of U.S. businesses running background checks on potential hires. But often, these checks present inaccurate, misleading and downright dishonest information. We tell you how to avoid an awkward interview caused by a shoddy check. And what you can do if you think a bad background cost you a job.

As always, we hope you enjoy.

Matt Cullina
Chief Executive Officer

© CyberScout, LLC. All Rights Reserved.
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