Better Protection Than Body Armor
Whatever you do, guard this with your life!
The mail was neatly stacked on the server in the dining room.
On top of the pile was an invoice from Kohl’s.
It was addressed to my son.
Like many millennials, he'd never seen the inside of a department store.
Something seemed very out of place...
I placed it aside and started tossing the junk mail.
Later that evening, when he came home from work, I told him that there was mail for him.
He almost never got postal mail. When he did, he usually didn’t bother reading it. The only mail he got was email.
He opened up the envelope, and I saw his face lose all color.
It was a receipt for an $8,745.42 store credit card charge.
“Pop, I've never walked into that store,” he said. “And besides, I never applied for that credit card.”
And thus began our three months of hell...
They’ll Shop Until You Stop It
My son’s identity had been stolen.
The thief applied for store credit cards and rang up charge after charge.
Over the next few days, he received two more invoices.
All told, the thief charged more than $12,500 to my son's name.
My son was approved for his first credit card when he was 19 years old.
Before he charged one penny, I sat him down for the “talk.”
I told him, “No matter what you do, never ever screw up your credit. If you ever have problems paying off a bill, let me know. A stain on your credit report follows you for a very long time.”
He'd heard me give the same speech to his older sister.
They knew that I was as serious as a heart attack when it came to their credit ratings. You see, when you get tagged with a low credit score, simple things like renting an apartment or even being hired becomes a struggle. It can truly change your life.
Aside from your Social Security number, your credit score is the number that defines you.
Fair or not, it’s just the way it is.
My son had to call, write letters, and show proof that he wasn’t responsible for the charges.
This problem wasn’t going away. He was spending about two hours a day trying to repair his credit. This really sucked.
It took more than three months to get everything squared away.
My lawyer told me that my son was lucky. He got off easy. Over lunch, he started to tell me horror stories...
Guilty Until Proven Innocent
He told me about an Australian woman whose stolen identity was so severe that she was wanted for murder. Yes, murder.
The thieves who'd stolen her personal information used it to create a fake passport. The passport was found at the murder scene.
He also told me about an expert identity thief.
She went through a victim’s mailbox and garbage for receipts. With those seemingly harmless pieces of paper, she took over her victim’s identity.
After clearing out the victim's bank accounts, she signed up for a credit-monitoring service. Then, she locked the victim out of their accounts. She was finally caught, but it was after more than $1 million was stolen from her victim.
“This was just what you hear on the news,” my lawyer said. “They don’t tell you about the months, or years, of trying to get your money back. You also don’t hear about the legal fees and screwed up credit scores that take forever to fix.”
I didn’t want to hear any more. Honestly, it was freaking me out. In a world that depends on electronic data, we're all very vulnerable...
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Over the past six years, identity thieves have stolen more than $100 billion.
The thieves are getting smarter and bolder.
In September 2017, thieves hacked the credit-reporting agency Equifax.
Social Security numbers, birth dates, and home addresses for up to 143 million Americans were exposed. And it’s still too early to tell how bad the fallout will be.
But there's a solution. And again, it’s technology. It’s called artificial intelligence (AI) and, in this case, “deep learning.”
Deep learning is already working to reduce identity theft. It's helping to prevent hackers from stealing your identity.
For example, when you create an online account, you’re asked to choose security questions. These are questions that only you'll know the answers to. This is supposed to help in preventing your account from being compromised.
But that isn’t enough. Hackers find out the answers to your security questions from Facebook and other social media platforms. It’s a pretty easy way for your account to get compromised.
Deep learning algorithms take protection to a whole new level.
It starts with the computer analyzing mouse-movement data.
Your mouse movements can indicate whether you're lying.
And instead of asking for the answer to your security question, you’ll be asked unexpected questions — for example: “What’s your zodiac sign?”
The hacker will have to look for the answer, and that will take time.
Deep learning will be able to tell fake responses from the real ones by how long it takes for the user to answer the question.
These types of deep-learning algorithms continue learning and getting better each time that they're used.
They're becoming more accurate in learning suspicious behavior.
Deep learning identifies real-time, fraudulent charges on the frontline and shuts them down.
This is a technology that every single company with an online presence or online exposure will have — it won't be optional.
So, we're talking millions of companies across the globe. With that kind of market potential, investing in it is a no-brainer.
But you don’t have to be a tech genius to know where to put your money...
I’ve already done the hard work for you. And I explain it all to you in very simple details in the exclusive research report that I’ve prepared for you.
All my best,
Founder, Park Avenue Digest
Charles cut his chops on the trading floor of the New York Futures Exchange before moving on to become a wildly successful money manager on Wall Street.
And with more than 35 years of recommending stocks under his belt, Charles has knocked the cover off the ball, compiling an amazing record of success and posting gain after gain for his loyal readers. He is the founder of Park Avenue Investment Club and the Insider Alert newsletters.
Charles is also the author of the highly acclaimed book, Getting Started in Value Investing.