Scams

These days the list of known identity theft scams is as long as the list of people who are likely to fall for them. A number of private security firms and several government agencies post descriptions of these scams as they surface. Often these scams play on the greed of the individual or a person's compassion by pretending to be part of a disaster or other relief agency.

Some of these scams prey on people least able to absorb the loss. Either through the internet, by telephone, or through the mails, identity thieves target the elderly, the unemployed, or those most in need of financial help. Unfortunately, those desperate for financial assistance or relief themselves, often make easier victims.

Forewarned

One of the best places to keep abreast of these identity theft scams is on the United States Federal Trade Commission (FTC) web site. The site issues regular reports when new scams are uncovered and reported. The site details how these scams are organized, what they involve, and how they are carried out. In many cases, the scams are veiled as investigations of the very type of fraud they are perpetrating.

Another good source of learning about specific identity theft scams is the Federal Bureau of Investigation (FBI) web site. Much like the FTC, the FBI issues bulletins about new scams just like computer security firms issue notices about new computer viruses. In both cases, being forewarned is the best way of avoiding falling into the trap of a current scam.

Common Scams

Many of the scams have generic components. One of the biggest detailed on the FTC web site is the "Nigerian" letter. The scam can be in the form of an email or a letter in the mail asking for help in moving money out of a country involved in turmoil or a civil war. If the recipient will share their bank account information, they will get to share in the funds moved out of the country. A recent poll estimated that this now famous “Nigerian” scam accounts for up to 19 percent of all such scams reported.

The list of such scams is lengthy. Most involve internet scams that seek information such as Social Security numbers and other personal data, supposedly for legitimate purposes. These can include job advertisements, newsletter sign ups, or even offers to send a "free" credit report. They might also be offers of a free gift or notification that the recipient has won a drawing or even a request for funds to aid earthquake or tsunami victims.