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STRATEGIC
ISSUES...ONLINE
For week
of May 30, 2005, Issue
#214
Featured Articles:
1. The Difference
Between Credit
Scores and Credit
Reports
2. Focus on Fraud:
Instant Messaging -
Expressway for
Identity Theft
3. Tech Tip Weekly:
Adding Files,
Folders, and
Programs to the
Start Menu
4. Compliance
Calendar
1. The Difference
Between Credit
Scores and Credit
Reports
Reviewing your
credit information
periodically is a
good idea,
especially because
you could spot
credit inquiries or
applications that
you didn't make. Or
you could find
errors in your
personal data or
payment history,
errors that could
cause lenders to
deny you credit or
charge you a higher
interest rate.
By September 2005,
all consumers will
have access to a
free copy of their
credit report. The
three major credit
agencies have set up
a centralized site
to handle requests
by phone, mail, and
over the Internet.
Access to this site
started in Western
states last year and
is being rolled out
across the country.
But when you apply
for a free copy of
your credit report,
you'll often be
offered the chance
to receive your
credit score, for a
fee. It's important
to know the
difference between
the two.
Your credit report
shows personal data
and a record of your
credit applications
and credit usage,
including your
payment history. In
summary, it shows
how often you've
applied for credit,
how much you owe,
and whether you make
payments on time.
Each of the three
major agencies will
have its own report
on you.
Your credit score is
a single number,
usually ranging from
300 to over 800.
The number is based
on various factors
in your credit
history. Generally,
the higher the
number, the better
your credit. You
might receive a
different score from
each agency,
depending on the
model they use.
If you're checking
for fraud or
mistakes, you need
to see your credit
report. This
provides the details
of your credit
history and enables
you to spot
mistakes. On the
other hand, knowing
your credit score
may not tell you
much, other than
whether it's high or
low. The score can
change from day to
day, depending on
how you use credit.
Each agency might
assign you a
different score.
And a lender
considering you for
credit may use a
completely different
model, producing yet
another number.
So, before you pay
to see your credit
score,
consider whether
you'd find a free
copy of your credit
report
more useful.
2. Focus on Fraud:
Instant Messaging -
Expressway for
Identity Theft
Never before with
Instant Messaging
(IM) has a more
vital warning been
needed for current
and potential IM
buddies who chat
online.
IM viruses and
attacks are growing
exponentially.
Hackers have been
shifting the focus
of their attacks to
instant messaging,
which is seen as a
largely unprotected
channel into the
enterprise.
Because IM operates
on peer-to-peer
(P2P) networks, it
spawns an
irresistible
temptation for
malicious computer
hackers. P2P
networks share files
and operate on
industry standard
codec (encryption
codes) and industry
standard protocols,
which are publicly
open and
interpretable.
Anti-virus software
generally does not
incorporate
protection for
Instant Messaging
services.
Like sharks in a
feeding frenzy,
these hacker
mercenaries view IM
clients as their
personal "Cash Cow"
because of the ease
by which they can
access your computer
via the publicly
open and
interpretable
standards and gather
your personal and
confidential
information and sell
it to other depraved
reprobates.
Please, don't be
naive enough to
think it won't or
couldn't happen to
you.
3. Tech Tip
Weekly: Adding
Files, Folders, and
Programs to the
Start Menu
The congenial MS
Windows allows
several ways to add
files, folders, and
programs to the
Start menu, but
here's one of the
easiest:
1.
Double-click on the
My Computer icon and
find the icon for
your file, folder,
or program.
2. Point at
the desired icon
and, while holding
down the mouse
button, point at the
Start button.
3. Let go
of the mouse button.
That's all there is
to it. Click on the
Start button, and
you see your newly
added file, folder,
or program at the
top of the menu.
4.
Compliance Calendar
June 2
-Employers deposit
Social Security,
Medicare and
withheld income tax
for payments May 25,
26, and 27.
June 3
-Employers deposit
Social Security,
Medicare and
withheld income tax
for payments May 28,
29, 30, and 31.
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