Federal Trade Commission estimates as many as 9 million Americans have their identities stolen each year. Some identity victims can resolve their problems quickly, while others spend hundreds of dollars and many years repairing damage to their name and credit. Some consumers victimized by identity theft may lose out on job opportunities, or be denied loans for education, purchasing a home or a car because of the negative information that has been reported on their credit.
How do thieves steal an identity???
- Dumpster Diving - They rummage through trash looking for bills or other paper with your personal information on it.
- Skimming - They steal credit/debit card numbers by using a special storage device when processing your card.
- Phishing - They pretend to be financial institutions or companies and send spam or pop-up messages to get you to reveal your personal information.
- Changing Your Address - They divert your billing statements to another location by completing a change of address form.
- Old-Fashioned Stealing- They steal wallets and purses; mail, including bank and credit card statements; pre-approved credit offers; and new checks or tax information. They steal personnel records, or bribe employees who have access.
- Pretexting - They use false pretenses to obtain your personal information from financial institutions, telephone companies, and other sources.
How you can protect yourself from the dangers of identity theft???
- Conduct a Credit Check-up - Visit www.annualcreditreport.com to obtain a free credit report every 12 months. Review all three of your credit reports and look for any suspicious activity, unusual or inaccurate names or addresses, or any inquires that were done without your knowledge. In many states, you may place a 90-day "Fraud Alert" on your credit report, which further restricts access to your credit information. Simply call one of the three main credit bureaus to activate the alert. Equifax, 800-525-6285 www.equifax.com; Experian, 888-397-3742 www.experian.com; TransUnion, 800-680-7289 www.transunion.com.
- Dont Give It Up- Avoid falling prey to phishing scams, both over the phone and through email. In a phishing scam, identity thieves pretend to be someone from your bank or a credit institution and simply ask you for your personal information. If someone contacts you and requests any personal information, don't give it to them. Verify who is requesting the data and why, and then call the institution yourself. One extra phone call could save you a lot of trouble and money.
- Opt-out of Special Offers - Visit www.optoutprescreen.com to cut down on the pre-approved offers from credit card and insurance companies. It's also good idea to opt out prior to the refinancing of your home, as you may become part of a "trigger lead" to the credit bureau's, who sell your information to number of companies. It only takes a few minutes to opt out, but it could spare you a lot of junk mail and could possibly save you from identity theft.
- Protect Your Trash- The items you discard, including credit card offers, ATM receipts, bank statements, credit statements/receipts and utility bills, all contain personal information. With a bit of effort, thieves can collect this information and use it to steal your identity. To minimize this possibility, buy a shredder and use it. Similarly, when you discard an old credit card, be sure to destroy them completely first.
- Be Careful In What You Carry- Don't carry your social Security card, passport, or birth certificate in your wallet or purse. Also, only carry as many credit cards that are absolutely necessary. It has also been suggested that you photocopy everything you carry in your wallet to make canceling things easier in the event that your wallet is stolen.
Being the victim of identity theft can be extremely devastating not only because it's your money being stolen, but your name. Identity thieves can be very skilled at finding their targets and then exploiting their findings. For this reason, to protect yourself you need to stay all the more alert and knowledgeable. Call the Federal Trade Commission toll-free, 877-438-4338, or go to www.consumer.gov/idtheft for a step-by-step advice about what to do if your're a victim of ID theft.
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