Identify Theft - What is it and How do You Protect Yourself From it?

What is identity theft?since even if there is a loss your bank may be
Identity theft is when a person steals personalobligated to refund your losses. Be sure to check your
information, such as the name, address, birth date,bank's terms and conditions.
Social Security number or mother's maiden name from-Promptly notify your bank and other creditors when
another person in order to commit fraud. The thief thenyou move or change your phone number or email
uses this information to impersonate the victim andaddress.
take over their financial identity.-Contact creditors if your regular bills do not arrive
With a relatively small amount of information criminalwhen expected.
can taking over banking, insurance or investmentDon't give away your personal information
accounts, open new bank accounts, purchaseCareless conversations can be the best source of
automobiles, apply for loans and credit cards, receiveidentity theft. Make sure you don't make yourself a
Social Security benefits, rent apartments, and evenvictim by giving away your confidential information.
establish utility and phone company services, all under-Don't give out personal information, such as your
the stolen identity.Social Security number or account numbers, over the
How do identity thieves get personal information?telephone unless you initiated the call and you know
While there is much in the media about internet basedwith whom you are dealing.
identity theft, there are lots of ways your personal-If you receive any telephone calls asking for personal
information can be stolen, many of them much easierinformation don't give out personal information until you
than internet theft.can verify to the call is legitimate. A good way to do
-Stealing your wallet, purse, or checkbook.this is to call the customer service number printed on
-Removing mail from your mailbox, both incoming oryour statement.
outgoing.-Confirm why personal information is needed before
-Going through your trash to find statements andgiving it out and even then only give out what is
receipts.absolutely necessary.
-Phishing - Obtaining information by email scams or-Register your home and cell phone numbers with the
fraudulent websites.Federal Do Not Call Registry to reduce some
-Hacking - Illegally gaining access to a computer whereunsolicited calls.
personal information is stored.Review your credit report regularly
-Social Engineering- Simply tricking the victim into givingYour credit report shows most accounts and balances
out personal informationopened using your information. Accounts that you can't
Who is an identity thief?recognize or that have unexplained balances could be
Contrary to what many people think, identity thievessigns that your identity has been stolen.
are not always sinister villains looking for victims. In fact,-Review your credit report from the three major
many studies show that a significant portion of identityagencies at least annually to confirm there were no
theft actually occurs by people the victim knows andunauthorized credit inquiries made or accounts opened
trusts.in your name.
-Opportunity criminals who 'chance' upon your personal-Consider using one of the credit report monitoring
informationservices offered by the major credit reporting
-Organized criminals who actively seek victimsagencies.
-Husbands and wives who use their spouse's-In the US you are eligible for a free copy of your
information to open accounts to take moneycredit report under the Fair and Accurate Credit
-RoommatesTransactions Act (FACT Act). The FACT Act
-A person you meet at a party who has lots ofrequires the three major credit reporting agencies to
questions about your personal lifeprovide consumers with a free copy of their own
-Parents who use a child's identitycredit report each year.
-Children who use a parent's identityTo obtain a free credit report contact:
-Housekeepers, contractors or others who haveAnnual Credit Report Request Service
access to your homeP.O. Box 105281
How do I protect myself from identity theft?Atlanta , GA 30348-5281
By taking a few precautions you can limit the1-877-322-8228
opportunity for an identity thief to steal your personalWhat do I do if I think I am a victim of Identity Theft?
information.-Immediately contact the fraud division of the credit
Safeguard and protect your personal informationreporting agencies and request that a "fraud alert" be
-Don't carry important documents such as Socialplaced in your file. Ask that no new credit be granted
Security cards, passports, or birth certificates in yourwithout your approval.
purse or wallet. Keep important documents in a safe-Notify the Social Security Administration by calling
place at home or in a safe deposit box at the bank.1-800-772-1213.
Only carry them when you need them.-Notify all of your creditors of the fraud.
-Shred any receipts, financial statements, documents,-File a report with your local law enforcement authority.
or bank statements, including credit card bills, before-Report the fraud to the Federal Trade Commission
disposing of them.(FTC) at 1-877-438-4338. The FTC is the
-Immediately report lost or stolen checks immediatelyclearinghouse for identity theft complaints. They
to your bank or other financial institution.provide information to help resolve financial problems
-Immediately report lost or stolen debit or credit cards.that result from identity theft.
-Always store checks in a safe place including-The FTC provides an ID Theft Affidavit which you
cancelled ones. Ask your bank if they will store yourshould complete as soon as possible after you
checks instead of returning them in the mail.become aware of the fraud. Completing this affidavit
-Store any account numbers in a safe place and don'tcan help protect you from responsibility for fraudulent
write down passwords for internet sites that containcharges on your accounts.
personal information such as internet banking sites.-Keep detailed records of all events once you
-Reconcile your banking statements regularly anddetermine that your identity has been stolen. Include
consider using your bank's internet banking service tonames, telephone numbers, and the date and time you
monitor your accounts regularly. Studies show thatmade contact with individuals or companies requesting
identify theft is caught quicker and is less costly byassistance in recovering your good name.
victims who use check their accounts regularly.While no one can be completely safe from Identity
-Remove mail from your mailbox as soon aftertheft, simply taking the time to safeguard your
delivery as possible. When mailing bills and credit cardinformation reduce that likelihood. You can also
payments, take them to a post office or place them insignificantly reduce the amount of time and money you
a secure, official U.S. Postal Service collection box.spend to recover your identity if you are prepared
-Consider using an internet banking service to pay billsbefore you become a victim.