Identity Theft

Information On Identity Theft

Don’t those CITI identity theft commercials just crack you up? Well identity theft is no laughing matter and we want to help you with the top ten tips to help you prevent and reduce your risk of being a target of identity thieves.

10. Do you purchase products and services online? If you are dealing with relatively unknown businesses you might be taking your financial life into your own hands. Once they have received such information as your credit card number, social security number and other personal information they can disappear only to reappear later as-you-a less financially responsible you! Take care to double check their website for security or encryption (look for a small padlock at the bottom right hand of your monitor screen).

9. Do you have and use a shredder? Don’t just throw away mail and other documents that contain your personal and banking information. You might think that information is safe in your garbage but that is one of the first places scam artists will look for financial information. Properly destroy your documents so no one can recreate your information or account numbers.

8. Do you carry your Social Security card in your wallet or purse or have it printed on your checks? Stop that now! Your SS#, even just the last four digits is enough, combined with your name and address, to allow a thief to assume your identity. Store your SS card at home in a safe place and never place that information on your checks or any other document that is easily accessible to others. Never use it as a password on any computer, whether at work or at home. Don’t ever give your SS# over the phone even to your bank or other creditors. If they want to verify that information ask them to send you a letter.

7. Have you seen your credit report lately? With the availability of free credit reports (check out our menu for more information) you can check your credit with all three nationwide consumer reporting agencies every 12 months. This helps you keep a handle on what you, your creditors and any potential thieves are doing in regards to your credit.

6. Do you stick your house payment in your mailbox for the mail carrier to pick up? Thieves are just waiting to take your mail and scavenge it for checks (which they can wash and rewrite) or personal and account information. Take your mail directly to the post office or hand it right to the carrier. Be cautious about putting it in your office out box as well. You can’t trust anyone with your financial information. While we are on the subject, make sure to remove our mail promptly from your mailbox or have it drop directly in your home or a locked box.

5. Do you wait for the bills to come to remember to pay them? Know when your statements come, when they are due, and be sure to open them and read them carefully. If you see purchases you don’t think you have made double check with your credit provider. If you even let one statement go that is one more month of spending that a thief can get away with before anyone notices.

4. Did you wipe all your information off the computer before you sold it or gave it away? Think again! Information can be deeply imbedded in your computer and it usually takes a pro to know what they are doing in removing all this personal information. Try a software program made especially for this clean up effort.

3. Do you have your pin number or other information that should be safeguarded written in your day planner? If you can’t remember your pin or other information try, at the very least, to encrypt it by writing it between other useless numbers. Leave out one digit and remember that or better yet, leave it all at home. Watch for those that try to stand too close to you as you enter your pin or other private information at grocery checkouts, ATM’s or other stores.

2. Do you have the same password for everything and never change them? I have to say I am guilty of this! Chang your passwords often and try to make them different so if a thief gets one password he doesn’t have them all!

In 2003, nearly 10 million people across the United States fell victim to identity theft. Too often, identity theft is not discovered until you you are denied credit while trying to buy a home or a car. Identity theft can have a substantial impact on your credit ratings as perpetrators of identity theft will use stolen credit card numbers, social security numbers, bank PIN numbers and other confidential financial information to empty bank accounts, borrow large sums of money and make major purchases that create significant credit card bills.

Although you are not liable for fraudulent purchases made as a result of identity theft, the cost in time and money to clean up a credit history can be thousands of dollars and hundreds of hours. Prevention of identity theft is substantially more affordable than the cost of prosecution.

In the unfortunate event that you are a vitim of identity fraud, immediately contact the fraud departments of any one of the three major credit bureaus and request that they place a fraud alert on your credit file. This will alert creditors that identity theft has occurred and that they should request your permission before changing any existing accounts or opening any new accounts.

Once the a fraud alert is established, and all three credit reports will be sent to you free of charge. You should also close the accounts that you know or believe have been tampered with or created using identity theft. Report your identity thef to your local police. Get a copy of the report to submit to your creditors and others that may need proof of the crime.

And finally, file an identity theft complaint with the FTC. The FTC maintains a database of identity theft cases that can be used by law enforcement agencies. Filing a complaint also helps the FTC learn more about identity theft and the obstacles victims face in prosectung these crimes.

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