Privacy Tips for Tax Season

You may be resigned to giving the government your money this tax season, but watch out for fraudsters looking for a piece of the action. Your tax forms contain sensitive information, including your Social Security Number. Taxpayers have a choice of filing by mail or electronically. Consumers may use personal software, professional services, or old-fashioned pencil and paper. Either way you can bet there is a fraudster ready with a scam. The following tips can help protect your privacy.

Full-Page Ad Distorts Facts about SB 773, California Financial Privacy Bill

The group's name, as well as its web site's address, www.caprivacyprotection.org, bely the Coalition's true colors. It is an industry-backed organization, comprised of the California Chamber of Commerce and the major financial industry trade associations in the state.

The Coalition's newspaper ad contains outright distortions about the provisions of SB 773. Here are some examples.

Identity Theft Red Flags and Address Discrepancies under the Fair and Accurate Credit Transactions Act of 2003

The detection of red flags and the need to reconcile address discrepancies are among the most important anti-identity theft measures included in FACTA. Effective business policies and practices that spot attempted and actual identity theft early have great potential for relieving this national crime wave. This was the promise and Congress’ intent when it directed the Agencies to adopt Red Flag Regulations along with procedures to reconcile address discrepancies in credit reports.

Who Is Using Your Checkbook? FDIC Warns About Qchex.com

While many consumers are scrambling to reduce their risk of identity theft, one business appears to be making it easier than ever to forge checks. Qchex.com allows customers to create checks without verifying the account holder's identity, according to authorities.

Phishing: A Real-Life Experiment with Troubling Results

Last week I received a Bank of America phishing email. Nothing out of the ordinary in that. If I have a spare moment, I usually look to see if the phishing site is still up, then do a DNS lookup and blast off an email to let the site owner know of the scam.

Well, last week's phishing was particularly sophisticated.

Comments Regarding the Use of Personal Medical Data by Financial Institutions

The proposed rule generally prohibits a creditor from obtaining and using medical information for making decisions about a consumer's credit eligibility. The rule then makes an exception that allows creditors to obtain and use financial information that happens to be related to medical debts, expenses and income.

Don't Be Scammed by Hurricane Katrina Fraudsters

Disasters bring out the best in people and the worst. These two dynamics intersect when scam-artists create fake charities with fundraising appeals, thereby bilking people out of donations that they meant to give to the victims.

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