Identity Protection
1.The types of reported identity theft
2.Tips for keeping your identity secure
3.What to do if your identity is stolen
4.Frequently Asked Questions
The types of reported identity theft
Identity theft is when someone uses your personal information, such as, social security number, credit card number and other financial accounts to commit fraudulent acts without your permission. These thieves steal your information for a variety of reasons. They may be applying for a loan, utility or even a job. This is a very serious crime. Victims of this type of theft may be denied for credit, loans and in rare cases be arrested for a crime that was not even committed by them.
Unfortunately, many people find out too late that they are the victims of identity theft. The majority of people find out due to collection agencies contacting them or even more drastic measures, such as, wages being garnished or vehicles being repossessed.
Fortunately, there are methods to protect yourself and find out instantly if you are at risk. Throughout this month's newsletter we will review different plans to keep your financial identity secure, as well as answer frequently asked questions.
Below is a graph of the types of identity theft reported according the Federal Trade Commission
Tips for keeping your identity secure
Only enter your information on a secured website when using the computer. These websites are usually referred to as locked sites. Most of the locked sites you will notice a symbol that looks like a lock. Furthermore to better secure yourself be sure to update all your anti-virus and spyware regularly on your system. By doing this it is harder for someone to place a virus on your computer, which could ultimately steal your personal information.
There are numerous scams out there to get your data over the phone. Your bank or financial institution will never call you and request secured information over the phone. Be very wary if you receive a phone call that asks to confirm any information over the phone. If this does occur hang up the call and contact your financial institution directly.
Try to avoid putting any personal info through the mail. Paying bills over the Internet has become a lot more popular since it is not only more convenient but also keeping your confidential information out of the wrong hands. However there are some people who do not have access to the Internet so the only other option is the mail. Try to avoid placing this information in the mailbox until shortly before the mail should be picked up. If at all possible place in mailbox minutes before pickup or hand directly to mail carrier.
Be vigilant about reviewing your credit card statements and payments. Each month when you review your bill look for unauthorized charges or payments that you made which have not been posted. If you see anything suspicious contact your lender immediately.
Never make a habit of carrying your social security card with you. If that falls into the wrong hands it is very simple to lose your identity in moments.
Keep your ATM receipts and checkbooks in a secure place.
If you lose any important financial records, checkbooks, or cards report them stolen or lost immediately. Do not delay because if someone stole them you can almost guarantee they will not wait to use them.
What to do if your identity is stolen
Once you become aware that your identity has been stolen there are crucial steps to take to ensure getting your identity back and resolving any issues that could haunt you financially in the future.
First you want to contact your local police department to file a report. It is imperative to take this step prior to contacting the banks or credit bureaus. Identity theft is a crime and all cases must be reported to the police.
Once you report this act to the police department they will provide you with a police report number or case number. This number is very important in your upcoming phone calls. Next you will want to contact your credit cards and lenders to advise them of the situation. Even if these accounts have not been jeopardized be sure to close or suspend them immediately to avoid any future financial damage.
Most cards will have a number specifically for lost or stolen cards and this process should only take a few moments. All cards will be deactivated which helps you in two different ways. First no transactions will be charged to your accounts and more importantly if anyone tries to use the card they will be caught immediately and prosecuted.
It is not crucial that you close your checking or savings account, however it is strongly recommended to contact your bank to advise them of the circumstances. This will allow the bank to monitor your checking and savings accounts for any suspicious activity.
Next you will need to contact the credit reporting agencies. Each agency will put a "fraud alert" on your account. This will mean if anyone tries to change information such as addresses, or other personal data you will be contacted immediately.
The agencies also offer free of charge a security freeze to anyone who has been a victim of identity theft. It is important to contact all three agencies, as they do not share information.
The three agencies are listed below:
Equifax - www.equifax.com
call: 800-685-1111 or write:
P.O. Box 740241, Atlanta, GA 30374-0241
Experian - www.experian.com
call: 888-EXPERIAN (397-3742) or write:
P.O. Box 2002, Allen TX 75013
Trans Union - www.transunion.com
call: 800-916-8800 or write:
P.O. Box 1000, Chester, PA 19022
Finally, you will need to contact the Federal Trade Commission. The FTC collects information about the victims. When you file a complaint you will help authorities target the thieves and figure out all the methods that are used to steal someone's identity. You can contact the FTC at 877-ID-THEFT.
Frequently Asked Questions
1. What do identity thieves need to steal my identity?
There are many different pieces of information that the imposter can use to steal your identity. Your social security number is the most vulnerable because it is the master key to your personal information. Other important factors include, but are not limited to, full name, current address, date of birth, mother's maiden name, account information and employment history.
2. My credit rating is not good. Am I still at risk?
Yes, you are just at risk as someone with perfect credit. Thieves steal identity for more reasons than finances or obtaining credit cards. For instance, you may have your identity stolen by a criminal who has a warrant out for their arrest or someone who is in the US illegally. Once they have your identity they can apply for a job or housing without running the risk of being caught. This will also make it easy for that person to get a bill such as a phone service under your name and not be held responsible for nonpayment.
3. My identity was stolen and that person was convicted of a crime under my name what do I do?
This does not happen often, however when it does it is very serious. It will take some time and letter writing to resolve. First contact the arresting agency to advise them of the situation. Second file an impersonation report detailing the events that took place and any evidence you may have to support your claim. Depending on the severity of the charge you may want to contact an attorney.
4. A family member used my identity without my permission. What can I do?
This is an unfortunate situation since it is still a crime. No one can use your information to obtain credit without your permission or knowledge. You have a big decision to make press charges and report it or work something out with that person directly to resolve the situation.
5. My purse or wallet was stolen what steps should I take if any?
It is recommended to proceed as if you are going to be a target. There is no way of knowing if the criminal who stole your information will use it in a fraudulent manner so take the necessary steps to avoid any problems. You will not be able to know for days or weeks if you will be a victim so do the following steps just in case.
- Notify your credit card accounts so they can close or put a hold on them.
- Notify your bank to be sure your checking and savings accounts are monitored closely.
- Monitor your credit reports.
- Look into freezing your credit if available in your area.
6. How does the impersonator steal your identity?
Regrettably, it is quite simple. Once the thief gets a critical piece of your information they apply for a driver's license with their own picture. At that point the person can then obtain credit in person, through the mail or on the Internet. When the imposter is applying for a credit card the address provided will be his own, claiming to have moved. Too many times the creditors are in such a rush to get someone a card there is not a verification process. Once the thief has that card they use that to assist their efforts to get new credit using the same identity.
Newsletter 01
Rev.1
March, 2010
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March News 2010
Identity Protection
This information is provided solely
for educational and informational
purposes and does not constitute
legal advice.
Newsletter 03
Rev.1
March, 2010
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