Meeting Recap
by Mae Santos

Detective Herst has been with the Bellevue Police Department since 1982.  In 1997, he was assigned to the unit that handles financial crimes.

To give us an idea of how serious financial fraud can be, Det. Herst stated that Citibank alone loses approximately $280,000 per day because of financial fraud.  This amounts to approximately $102 million dollars a year….and that’s just for one company alone!  To make matters worse, most companies do not employ many financial investigators to look into the crimes.

Financial crimes are on the rise for several reasons.  Among them are:

1. Checks can now be made by software that can be purchased as office supplies stores,

2. Checks can be "washed" using common household chemicals

3. Our personal information is held by many companies and can be stolen by their employees

4. Software that enables sharing among computers, such as Limewire, make it easier for information to be stolen off your computer

5. Some merchants have older computer systems housing our information that can be easily hacked

6. Equipment that can be used to steal information from the magnetic strip on the back of credit cards can easily be purchased by the general public.

These are just some of the things Det. Herst talked about.  He also gave a very interesting demonstration of how to wash checks.  Using some household chemicals, he was able to wash out the ink on a check.  He also passed out some fraudulent checks and challenged the audience to identify the fake ones.  The checks looked surprisingly real, but upon closer inspection, each one had on small defect.

Here are some tips from the FTC on how to protect yourself.

1. Shred financial documents and paperwork with personal information before you discard them.

2. Protect your Social Security number. Don't carry your Social Security card in your wallet or write your Social Security number on a check. Give it out only if absolutely necessary or ask to use another identifier.

3. Don't give out personal information on the phone, through the mail, or over the Internet unless you know who you are dealing with.

4. Never click on links sent in unsolicited emails; instead, type in a web address you know.

5. Use firewalls, anti-spyware, and anti-virus software to protect your home computer; keep them up-to-date. Visit OnGuardOnline.gov for more information.

6. Don't use an obvious password like your birth date, your mother's maiden name, or the last four digits of your Social Security number.

7. Keep your personal information in a secure place at home, especially if you have roommates, employ outside help, or are having work done in your house.

To learn more about ID theft and how to deter, detect, and defend against it, visit ftc.gov/idtheft. Or request copies of ID theft resources by writing to:

Consumer Response Center
Federal Trade Commission
600 Pennsylvania Ave., NW, H-130
Washington, DC 20580

The FTC works for the consumer to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261.