| You had a great weekend. You and your best friend | | | | these abuses quickly when they review their |
| went shopping the mall. At the mall, you picked up | | | | statements. Some people assume the credit card |
| some cash at the ATM and you some great bargains | | | | company's records are accurate. They may even |
| at a couple of sales. Afterward, you went out for | | | | assume they made the purchase when, in fact, it was |
| dinner and drinks to discuss the week's events and | | | | an identity thief. Normally, identity thieves who prey |
| gossip about the rest of the crowd. After dinner, you | | | | upon credit cards make as many purchases as they |
| gave your credit card to the waitress, signed the bill, | | | | can in the days immediately following the theft. They |
| and went home for a good night's sleep. | | | | can quickly reach your credit limit and often exceed it. |
| On Monday, life gets back to normal, and the job | | | | You find out about it when your purchases are |
| beckons. But this Monday is different. With today's mail | | | | refused by the company or when the debt collector |
| is your credit card billing statement. Relaxing from | | | | calls. |
| work, you review the statement. What's this? There | | | | Having a little of your personal information gives |
| are purchases on the statement for things you know | | | | access to the rest of your information. Identity thieves |
| you didn't buy. And the balance is through the roof! | | | | often misrepresent themselves, calling your bank or |
| What is going on? | | | | credit card company with a piece of personal |
| You call the credit card company to find out what's | | | | information to learn more about your accounts. When |
| happened. They are helpful but not very sympathetic. | | | | this happens, you become even more vulnerable. |
| They note you're near your credit limit and suggest | | | | Pretending to be you, they can transfer money out of |
| you may a hefty payment this month. They don't | | | | your accounts, change your address, and apply for |
| understand. You did NOT make those purchases. | | | | mortgages or loans. They may even rent apartments |
| What can you do now? | | | | or apply for jobs, masquerading as you. |
| If you've been through this before, you know you've | | | | If you think you've become a victim of identity theft, |
| been a victim of a crime. Call it identity theft or credit | | | | you should immediately take action to stop the crime |
| card fraud, it's illegal, and it carries penalties IF the | | | | or maybe even catch the thief: |
| criminal gets caught. Somehow, someone has gotten | | | | 1. Immediately file a police report. Do not pass go. Do |
| hold of your personal financial information. They've | | | | not wait a day or two. As soon as you're aware of |
| used your credit and your credit record to steal from | | | | fraudulent purchases or misrepresentations, contact |
| both you and the credit card company. The problem is, | | | | your local police. You can also call the local U.S. |
| now the credit card company wants you to pay the | | | | Attorney's Office. Identity theft is often considered a |
| bill. If you don't, it will hurt your credit score and make it | | | | federal crime, depending on the circumstances. When |
| more difficult to get loans at a good rate or open a | | | | you've made your report, be sure to get and keep a |
| new account in the future. You're in a jam, and the | | | | copy of it so that you can provide the information to |
| criminal who stole your identity is out partying on your | | | | your bank and creditors. |
| good credit. | | | | 2. File a report with the postal service. This may help |
| How could this have happened? Was there someone | | | | you find out where goods were delivered and prevent |
| standing behind you at the ATM, observing you enter | | | | the continued use of a bogus address. |
| your PIN for cash? Or did the waitress leave your | | | | 3. Notify the credit bureau. Immediately inform at least |
| card unattended out on a counter at the restaurant? | | | | one of the three major credit reporting agencies |
| Did you forget your card at the restaurant? Better | | | | (Equifax, TransUnion, or Experian). You may qualify for |
| check your wallet to be sure. You feel violated, as if | | | | a free credit report. You can also freeze your credit |
| someone had broken into your home. And this criminal | | | | reporting. That way, you will be alerted if anyone |
| doesn't have a face or a name. You have no idea | | | | makes a credit inquiry or tries to open a new account |
| who or where the identity theft is. And you don't have | | | | in your name. There is a small fee for freezing the |
| a clue about what to do about it. | | | | report, but it's well worth it to protect further abuses. |
| Criminals like this commit identity theft by getting | | | | 4. Notify your bank and all your creditors of the crime. |
| access to your personal information. They can use | | | | Close your accounts and reopen them so that you |
| your birth date, your social security or driver's license | | | | change all your account numbers. If they'll agree to do |
| number, your account numbers, your PINs, and your | | | | it, assign a special password to your account so that |
| passwords to sneak into your accounts and rob you. | | | | transactions can't be processed without your express |
| In 2003, around 10 million people were victims of | | | | authorization. And make sure that check verification |
| identity theft, and it cost them a total of $5 billion | | | | companies are aware of the problem so that they will |
| out-of-pocket. It also cost merchants and financial | | | | not authorize the use of fake or stolen checks. |
| institutions $50 billion in that year. Each victim of identity | | | | 5. Change your PINs and passwords immediately. If |
| theft ended up spending from $500 to $1200 and from | | | | you must keep a written list of them, keep that list |
| 30 to 60 hours of personal time trying to resolve the | | | | under lock and key, and don't share it with anyone. If |
| problem. And these thefts took place over a three- to | | | | you keep them in an electronic file, be sure to |
| six-month period. | | | | password protect the file. When you change your |
| How can they get away with this malicious crime? It's | | | | passwords, use new ones that combine letters, |
| an increasing problem due to our wonderful technology | | | | numbers, and symbols. And for heaven's sake, don't |
| and the internet. Often, buyers and sellers don't have | | | | use the standard birth date, anniversary, or pet's name. |
| personal face-to-face contact. Transactions take | | | | Think of something unusual, something people who |
| place over the internet or telephone. The seller doesn't | | | | know you won't likely guess. |
| see the identity thief and can't identify them. All the | | | | Identity theft is a serious, and increasing, crime. No one |
| criminal has to do is give them a different shipping | | | | is immune. If you become a victim of this callous crime, |
| address from your billing address. Some identity | | | | you should act immediately to stop the activity and to |
| thieves even submit change of address information to | | | | help law enforcement catch and prosecute the |
| your bank and credit accounts, making it more difficult | | | | perpetrator. Be sure that every company with which |
| for you to spot unauthorized transactions. | | | | you have financial dealings is aware of the problem. |
| Why don't people find out about identity theft sooner? | | | | Alert them quickly and get their cooperation in stopping |
| You may be surprised, but most people don't check | | | | and catching the thief. |
| their statements as soon as they get them. They may | | | | We've all heard the nightmare stories from victims of |
| set them aside, making payments on the balance | | | | identity theft. Tales of expenses and time lost to |
| without reviewing the purchases and giving the thief | | | | repairing good credit abound. In the most extreme |
| even more time to run up a big tab. | | | | cases, identity thieves commit other crimes using their |
| Even when the theft is discovered, it's very difficult to | | | | victim's personal information, so you can even get in |
| find the perpetrator. They're using your address and | | | | trouble with the law as a victim of identity theft. |
| information. Bogus shipping addresses may go to a | | | | Be vigilant. Be suspicious when it comes to your |
| post office box or postal service. They may even go | | | | financial information and accounts. Guard your |
| to a non-existent address. All the thief has to do is | | | | information carefully. Review financial documents as |
| monitor for deliveries. | | | | soon as you receive them, and follow up immediately if |
| Another reason it's hard to prevent identity theft on | | | | you find problems. You may not be able to control |
| your credit cards is that no one knows about it until the | | | | every aspect of your financial record, but you can |
| monthly billing statement goes out. As mentioned | | | | take many common-sense steps to protect it and |
| before, only the most diligent credit card holders catch | | | | prevent identity theft from making you the next victim. |