Every dollar counts, now more than ever, as the government searches for ways to wisely spend our money. It’s dismaying to learn that an audit report from the Treasury Inspector General for Tax Administration (TIGTA) has found that the impact of identity theft on tax administration is significantly greater than the amount the IRS detects and prevents. Even worse, the “IRS uses little of the data from identity theft cases…to detect and prevent future tax refund fraud” according to Mike Godfrey, Tax-News.
The IRS is detecting far fewer fake tax returns than are actually falsely filed. 938,700 were detected in 2011. On the other hand, TIGTA identified 1.5M additional undetected tax returns in 2011 with potentially fraudulent tax refunds totaling in excess of $5.2B.
The study predicted that the IRS stands to lose $21B in revenue over the next 5 years with new fraud controls, or $26B without the new controls.
Fraud Expert John Sileo discusses why your child is 51X more likely to become a victim of ID Theft on Fox Business.
Why are our kids, the very people we most want to protect, so vulnerable to identity theft? Because they have unused, unblemished credit profiles. According to Carnegie Mellon University’s CyLab, 10.2% of the children in a recent report had someone else using their Social Security numbers. That figure is 51 times higher than the rate for adults of the same population.
Thieves steal a child’s identity early on, nurture it until they have a solid credit score, and then abuse and discard it. If it’s not discovered in time, fraudulent use of your child’s identity could mean the loss of educational and job opportunities and starting off adulthood at a serious disadvantage with someone else’s bad credit in her name.
Identity Theft Expert John Sileo discusses the rapid increase in Child Identity Theft with Gerri Willis, host of Fox Business’ The Willis Report. Sileo talks about how to detect and prevent your children from becoming victims of identity theft, including:
Beware what you share
Talk to your child about protecting their information
Consider identity theft monitoring for your child
Write your Congressperson and ask them to enact Child Identity Freezes like the state of Maryland
John Sileois an award-winning author andinternational speakeron the dark art of deception (identity theft, data privacy, social media manipulation) and its polar opposite, the powerful use of trust, to achieve success. He is CEO of The Sileo Group, which advises teams on how to multiply performance by building a culture of deep trust. His clients include the Department of Defense, Pfizer, the FDIC, and Homeland Security. Sample his Keynote Presentation (he shares how he lost $300,000, 2 years and his business to data breach) or watch him on Anderson Cooper, 60 Minutes or Fox Business. 1.800.258.8076.
Allowing our children the innocence of their childhood is paramount to us as parents. Because our children are pretty much the center of our universe, we want to do everything in our power to keep them safe and to safeguard their futures. In this information age, identity theft has become global in its reach and can have devastating consequences for our children’s futures if we’re not vigilant from the day they acquire a Social Security number.
Why are our kids, the very people we most want to protect, so vulnerable? Because they have unused, unblemished credit profiles. Richard Power, Distinguished Fellow, Carnegie Mellon CyLab, recently published the first ever child identity theft report based on identity protection scans of over 40,000 U.S. children. It is extremely alarming that 10.2% of the children in the report had someone else using their Social Security numbers. That figure is 51 times higher than the rate for adults of the same population.
Fraud Training Expert John Sileo has appeared recently on 60 Minutes, Anderson Cooper, Fox Business, Fox & Friends and in Newsweek and USA Today. He speaks around the world on the dark art of deception (identity theft, social engineering, fraud detection, manipulation defense, data breach, social media privacy) and the powerful use of trust. His satisfied clients include the Pentagon, FDIC, Pfizer, FTC, Blue Cross, among hundreds of others. Learn more about protecting your bottom line by training your organization on proactive fraud detection. Watch John perform a humorous but effective fraud training in front of an audience of thousands.
Healthcare data breaches are on the rise, 32% over last year. Though some may find this to be alarming, there is a school of thought that this is actually good news and that we are identifying breaches that perhaps went unnoticed in the past. However, the fact remains that breaches are on the rise, statistically, and many organizations fear they lack the infrastructure and budget to protect patient privacy.
The study found the reasons for growing data breaches in healthcare organizations to include:
employee mistakes and sloppiness
lost or stolen mobile computing devices
unintentional employee action
third-party error
On average, it is estimated that data breaches cost benchmarked organizations $2,243,700. This represents an increase of $183,526 from the 2010 study, despite healthcare organizations’ increased compliance with federal regulations. Respondents in the study noted relying less on an “ad hoc’ process to prevent or detect data breach incidents and are relying more on policies, procedures and security.
Anderson Cooper’s 1st show of the year brought a panel of experts to discuss New Year’s resolutions, why we make them and how we can better keep them. Identity theft expert John Sileo closed out the show with 3 Tips for Avoiding Scams in the new year. Click on the video to the left to view the segment. Anderson and John discuss smartphone stupidity, passwords and social networking privacy.
Identity Theft Expert John Sileo Appears on the Anderson Cooper New Year’s Resolution Special.
John Sileois an award-winning author andspeaks internationallyon the dark art of deception (identity theft, data privacy, social media manipulation) and it’s polar opposite, the powerful use of trust, to achieve success. He is CEO of The Sileo Group, which advises teams on how to multiply results and increase performance by building a culture of deep trust. His clients include the Department of Defense, Pfizer, the FDIC, and Homeland Security. Sample his keynote or media appearances on Anderson Cooper, 60 Minutes or Fox Business. Contact him on 800.258.8076.
Identity theft increases a great deal when you are on the road. Start protecting yourself with these Top 5 Identity Theft Tips while traveling:
Travel Data Light. If you don’t have to take it with you, increase your safety and leave it at home. This includes checkbooks, debit cards, excess credit cards, Social Security cards and any excess digital gadgets. Simplicity is Security!
Guard Your Devices. Smartphones and tablets are as powerful as laptops. Turn on the auto-lock passcode to keep others out of your information.
Surf Protected. Stop using the free WiFi hotspots in cafes, airports and hotels, as they are constantly sniffed by cyber criminals. Instead, setup tethering between your mobile phone and tablet or laptop so that you are surfing safely.
Privacy Please! Instead of leaving loads of data unprotected in your hotel room (a major source of theft), hang your privacy sign on the door and let house cleaning know that you do not want to be disturbed. Lowering traffic lowers risk.
AURORA – Five of Aurora’s most powerful politicians found out how vulnerable they truly are. They’ve joined a long list of people who have fallen victim to identity theft.
The city councilors thought they were alone, until they heard from their colleagues at a council meeting.
“It was kind of a relief when I found it was a council thing and not me personally,” said Councilor Molly Markert.
Markert and four other councilors received bills for items they never even purchased, including electronic devices.
If there was ever an expert on identity theft, John Sileo would certainly be high on the list.
He’s written a few books on the issue and even does work for the Department of Defense and Homeland Security.
Sileo says the thief or thieves likely cracked the councilors’ codes by one of two ways.
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