Frank Abagnale (The movie “Catch Me If You Can” was based on his life. Leonardo DeCaprio played Frank.)

Frank negotiated an early release from prison if he worked for the FBI a few years. He has now worked for the FBI for over 35 years on the Fraud Team. Frank has written several books on fraud including, The Ultimate Identity Theft Prevention Plan: Stealing your Life. I heard him speak about fraud recently and below are highlights that I think are especially interesting.

Tips to Not Have your ID Stolen:

1. Use a Micro Cut Shredder.

(Even shred catalogue covers that have your name and “source code.”)

2. Hire a Credit Monitoring Service. One that monitors all 3 credit bureaus and notifies you in real time (ie: calls you) when there is a problem.
3. Do not write checks. Do not use debit cards. Only use credit cards and cash. (If there is a dispute on a charge, the credit card company looks into it and you do not pay for it. Checks are easily used in fraud.)

• If you must write checks, use a “Uniball 207 Gel Pen.” This is pigment ink based so it cannot be bleached by counterfeiters. Also use this for other important docs, like titles, medical prescriptions, etc. The pen only costs $2 with $0.50 refills.

• Buy good quality checks from a bank or from Safe Checks as these are more secure with micro printing, prismatic printing, Padlock with international feature, void pantograph on the signature panel, acetone protector, toner anchorage, etc.
• Matrix printer with Ink cartridge/ribbon is the safest printer. IT is hardest for criminals to bleach /erase this ink. Toner printers only print on the surface and can be removed with a #2 pencil eraser.
• If you receive wires, you need to arrange with your bank an account that is a “non-negotiable incoming wire account.” You give too much information when you give your general wire details and a cri al can easily steal your money.
• If you have employees, use “positive pay” to allocate salaries. This eliminates personal responsibilities for fraud.

• $994 billion gross US los due to white collar crimes. US taxes pay for this – about $500/year/person.
• The crime is not decreasing with technology but increasing. Crime is also increasing due to decline in ethics.
• Only 10% embezzlement is reported. When FBI interviews, people say they embezzle because there is an easy opportunity, not because they need the money.  If you are a business owner or have employees who handle your finances, make it harder to embezzle by separating bookkeeping. Always sign your own checks and view your own bank statements if you have an employee who has access to your accounts and writes checks.
• Less than 7% of court ordered restitution is actually collected.
• Criminals can actually steal your ID when they use a name similar to yours with DOM similar to yours. When caught, the creditor goes after you. This is called Synthetic ID Theft and it’s the newest form.
• www.mypublicinfo.com  Pay $79 to search 12 billion public records to search what is said about you.
• www.netdetective2000.com   $150 for background checks
• www.docusearch.coom   $49 for ss# retrieval
• www.identitysecure.com/frank
• Office copiers have a hard drive that saves everything that was ever copied. Destroy or erase the hard drive before you sell/trade your old copier.