Identity Theft: protection, prevention, insurance, preventing, statistics
Identity theft
What is identity theft? Identity theft occurs when someone uses your personally identifying information, like your name, Social Security number, or credit card number, without your permission, to commit fraud or other crimes. The Federal Trade Commission (FTC) estimates that as many as 10 million Americans have their identities stolen each year. In fact, you or someone you know may have experienced some form of identity theft. Maybe thieves rummaged through your trash, found a bank statement, and misused your checking account. Or, maybe they rented an apartment using your name. Maybe someone got a credit card using your identity and credit history, and bought expensive stereo equipment. The crime takes many forms. And maybe you found out about it months later, when your loan application was rejected or when you noticed charges on your credit card statement that you didn’t make. Identity theft is serious. People whose identities have been stolen can spend hundreds of dollars and dozens of hours cleaning up the mess thieves have made of their good name and credit record. Consumers victimized by identity theft may lose out on job opportunities, or be denied loans for education, housing, or cars because of negative information on their credit reports. They may even be arrested for crimes they did not commit. The potential for damage, loss, and stress is considerable. http://www.ftc.gov/bcp/edu/microsites/idtheft/index.html
Insurance
Prevention
DETECT
Detect suspicious activity by routinely monitoring your financial accounts and billing statements.
Be alert to signs that require immediate attention:
¦ Mail or bills that do not arrive as expected
¦ Unexpected credit cards or account statements
¦ Denials of credit for no apparent reason
¦ Calls or letters about purchases you did not make
Inspect:
¦ Your credit report. Credit reports have information about you, including what accounts you have and your bill paying history.
r The law requires the major nationwide consumer reporting companies—Equifax, Experian, and TransUnion—to give you a free copy of your credit report each year if you ask for it.
r Visit www.AnnualCreditReport.com or call 1-877-322-8228, a service created by these three companies, to order your free credit reports each year. You also can write: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.
¦ Your financial statements. Review financial accounts and billing statements regularly, looking for charges you did not make.
While nothing can guarantee that you won’t become a victim of identity theft, you can
take specific steps to minimize your risk, and minimize the damage if a problem develops.
These steps make it more difficult for identity thieves to steal your identity.
It’s about following the “3 D’s” of identity theft protection—Deter, Detect, Defend
Protection
Deter identity thieves by safeguarding your information.
¦ Shred financial documents and paperwork with personal information before you discard them.
¦ Protect your Social Security number. Don’t carry your Social Security card in your wallet or write your Social Security number on a check. Give it out only if absolutely necessary or ask to use another identifier.
¦ Don’t give out personal information on the phone, through the mail, or over the Internet unless you have initiated the contact and know who you are dealing with.
¦ Never click on links sent in unsolicited emails; instead, type in a Web address you know.
Use firewalls, anti-spyware, and anti-virus software to protect your home computer; keep them up-to-date. Visit OnGuardOnline.gov for more information.
¦ Don’t use an obvious password like your birth date, your mother’s maiden name, or the last four digits of your Social Security number.
¦ Keep your personal information in a secure place at home, especially if you have roommates, employ outside help, or are having work done in your house.
http://www.ftc.gov/bcp/edu/microsites/idtheft/index.html
