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Answer:
Dear
BuyandHolder,
You
are right to be concerned about Internet theft.
At
BUYandHOLD
Here,
however, your account is extremely well protected.
All of your personal and account information is displayed
through BUYandHOLD's secure server software (Secure
Sockets Layer or "SSL") which encrypts all information
you type in before that information is sent to us.
It also encrypts the information you receive in your
browser's window.
BUYandHOLD
uses the highest level of encryption to protect your
account. Encryption is the translation of data into
a secret code. Encryption is the most effective way
to achieve data security. BUYandHOLD offers multiple
levels of encryption to accommodate many different
browsers with various levels of encryption.
You
should also never tell anyone your account number,
password or password hint. You should not choose a
password that would be easy for someone to guess (e.g.,
your birthday). If you write down your account number,
username, password or password hint, place it in a
safe place and never leave it near your computer.
Always log out of your account before you leave your
computer. You should also consider changing your password
frequently.
Five
Protective Tips
While
you do not need to worry about your BUYandHOLD account,
you should be extremely careful with other online
transactions.
(1)
Do not respond. Never answer e-mail from a bank
or credit-card issuer, even if it appears to be from
an institution where you have an account. According
to the FTC, over half of such e-mails are fake. Never
mind that they look real. Instead...
(2)
Contact your bank. If you think you've received
a legitimate e-mail from your bank or credit card
issuer, perhaps asking you to verify your password,
your account number or your Social Security number,
call them directly. Or, close the e-mail and then
log onto the Web site on your own -- to determine
if the questions came directly from the institution.
(3)
Study all your bank and credit card statements immediately.
Do not wait a week or so, or read them once a quarter.
By law, you have 60 days in which to report errors,
including suspicious checks or withdrawals. If you
wait longer than 60 days, the bank is not obligated
to investigate charges.
$Tip:
We recommend that you review your BUYandHOLD statements
immediately. We can investigate and will respond to
questions regarding suspicious activity that is reported
within 2 business days of the questionable activity.
Contact us via e-mail at service@buyandhold.com.
(4)
Go for credit not debit. For online transactions,
use a credit card not a debit card. Credit cards have
tighter anti-fraud controls.
(5)
Close your account. If you have evidence that
an account has illegal charges or activity, close
it immediately. Ask for a new account with a new number
and file a police report. Note the police report number
in your files.
About
Your Social Security Number
As
you know, many businesses legitimately require one's
Social Security number. Nevertheless, the FTC suggests
that you never automatically give it out -- to anyone.
Instead, ask these questions first:
-
Why do you need my number?
- How
will you use it?
- How
will you protect it from being stolen? What system
do you use?
- What
will happen if I don't give you my number?
Freezing
Your Credit File vs Imposing A Fraud Alert
The
information stolen from the Veterans Administration
included names, dates of birth and Social Security
numbers for at least 26.5 million veterans and their
spouses. In some cases, it appears that addresses
were also stolen.
Everyone,
vet or not, should know about security freezes and
fraud alerts and the level of protection each provides.
A
Security Freeze
This
stops anyone from accessing your credit report and
credit score. Without this data, businesses, including
banks, the three major credit bureaus (see below)
and employers cannot read your file. That means, no
new credit cards or loans in your name.
When
you want to take out a new credit card or loan, you
thaw (or unfreeze) your account by using a special
PIN that was sent to you at the time of the freeze.
Not
every state allows consumers to freeze their credit
files. For a list that do, with information on how
to institute and end a freeze, go to:
http://www.consumersunion.org/campaigns//learn_more/002355indiv.html
A
Fraud Alert
Anyone
can put a fraud alert on his or her credit file -
it is not state regulated as is the freeze. You simply
contact one of the three major bureaus; that bureau
will then notify the other two.
Unlike
a security freeze (which prevents anyone from accessing
your credit file or getting credit in your name),
a fraud alert simply puts a 90-day "watch" on your
file. Lenders and credit card issuers are asked by
the credit bureau to contact you before issuing new
credit or loans in your name. (You will be asked to
provide a telephone number for this purpose.) Contacting
you may or may not happen. It is not legally required.
Consumer action groups, in fact, maintain that the
bureaus often ignore fraud alerts, but official numbers
documenting such statements have yet to be revealed.
The
three bureaus are:
www.equifax.com
www.experian.com
www.transunion.com
One
clear advantage of requesting a fraud alert is that
it entitles your to a free copy of your report, in
addition to the free annual report everyone is able
to get.
For
More Information
The
Federal Trade Commission has a wealth of information
about identity theft and doing business on the Internet.
For preventative tips and directions for reporting
ID theft, log on to: www.FTC.gov
and click on "Consumer Information."
Good
luck!
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