Seven To Ten

Frauds, from embezzlement, identity theft, patent infringement, and product counterfeiting - is increasing. The median loss from embezzlement cost small companies $190,000 in 2006, up from $98,000 in 2004, according to the latest numbers from the Association of Certified Fraud Examiners.

The number of patent-infringement lawsuits rose 6% last year. New research has found that counterfeit goods account for an estimated 15% to 20% of all products manufactured in China. The advance of technology has made it easier than ever for the unscrupulous to victimize your business. Consider that hundreds of pages of sensitive financial information can be stored on a USB drive the size of a thumb - or that millions of dollars can disappear with the flick of a computer key.

In March the regional supermarket chain Hannaford Bros., headquartered in Portland, Maine, discovered that hackers had broken into its database and rerouted customers’ credit card information to accounts overseas.

In another case, an accountant who had electronic access to the books of 15 small companies diverted $1 million meant to pay taxes to his own account. In another case, a thief set up a phony website that mirrored that of a small business, ordered thousands of dollars of supplies from Office Depot, and then had the bills sent to the real business owner.

Given all the day-to-day challenges small-business owners face, most feel they don’t have the time, patience, or money to protect themselves. This helps explain why small businesses are nearly twice as likely to be victims of fraud as are big corporations.

A lot of people assume naturally that they will not fall prey to identity thefts. But do you know that every time you use a credit card, you are at risk of giving away vital personal information which criminals can use to clone your identity, meaning a slew of fake bank accounts and credit cards in your name.

Once identity theft happens, you lose money, time and peace of mind. When it comes to identity protection, Debix is a site worth checking out. Their service is simple, they place a fraud alert on your credit file and you get a phone call whenever someone opens an account in your name and social security number. You can then halt the devious act by pressing the * key. Simple as ABC!

But let’s Compare LifeLock and Debix before you decide. Similar to Lifelock, they guarantee protection up to $1 million, reduce your junk mail and receive free credit reports. In addition, you can prevent telemarketing phone calls, keep your cell phone number private from creditors, get a phone call to notify you of unauthorized accounts. They can also find you on up to 3 different phone numbers. And their annual cost is only $89 to Lifelock’s $110.

If you are not using Identity Theft Prevention, it is usually too late for you when you discover the theft. Your credit card or mortgage application is turned down and a collection agency could even turn up at your door. Statistics indicate that a stolen ID is used up to 30 times before you come to know.

Everyone with a slight chance of identity theft will find the Debix solution a very good investment in personal financial security.

Recession is a technical term and some economists are saying we are still safe while others are less optimistic. No matter what, a lot of Americans felt recession has hit home already.

Unemployment is up, but monthly bills and inflation are taking their toll. In this period of economic uncertainty, I expect a lot more identity theft as people turn to crime for a living. Do not think you are safe as identity thieves can strike anyone, anywhere, and at any time.

They are using more sophisticated software to spy on us, our browsing habits, keystrokes, financial and personal information can be retrieved and used to their advantage. As a means of protection, you can consider lifelock services.

Lifelock provides free credit reports, assure zero junk mail and unsolicited credit card offers, guarantees your identity up to a million dollars, and notice whenever anyone tries to use your credit. Check out the lifelock review to comparison shop first before deciding if they fit your criteria.  A promotion code RD17 is available for now and looks attractive - you not only save $21.00 but also receive 30 days free!

If you are already a victim of identity theft, apply for a fraud alert immediately. It will stay on your credit report for 90 days, which give you sufficient time to close all compromised accounts. Prevention is better than cure, it is too much trouble cleaning up the damage done by identity thieves. Peace of mind is the greatest value of lifelock.