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Howard Ain, Troubleshooter: Account Takeover Fraud Totals $4.9 Billion In 2012

Updated: Wednesday, November 27 2013, 04:33 PM EST
CINCINNATI (Howard Ain) -- Now, another example of why it is so important to protect your personal information.

Local 12 TroubleShooter Howard Ain says technological advances allow criminal to find new ways to steal your money.

theft is big business these days and unless you're not careful, you too
can become a victim. One of the biggest thefts is called account
take-over fraud.

Carla Menedez: "The bad guys are calling in with all the personal identifying information of the victims..."

once they do that, they essentially can get access to your credit card
account. They can add themselves as users get their own card with their
name on it and start charging on your account.

Menedez: "The bad guys are going in and buying electronics and going to pawn shops to get cash."

inspectors seized many larger ticket items purchased in one scam,
including big screen tv's and video game systems. In one
case, losses totaled $120-thousand dollars. But inspectors got a big

Menedez: "The bad guy wasn't very smart in this case. He
purchased 2 money gram money orders from a local merchant and when he
went to purchase the money order, he actually wrote his real name and
his real address down on the money order."

The led them to the suspect's home.
Howard Ain, Troubleshooter: Account Takeover Fraud Totals $4.9 Billion In 2012

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