Protect Yourself — Online
Identity Theft - What You Need to Know
Nearly 10 million Americans fall victim to identity theft every year, according to the Federal Trade Commission. Identity thieves open new accounts in other peoples’ names and rack up debts on existing accounts, using consumers’ Social Security numbers, bank account information, addresses or phone numbers. Identity theft victims may spend years - and large sums of money - restoring their credit histories and their good names.
Methods Used by Identity Thieves
The Federal Trade Commission lists various methods thieves use to obtain your personal information, and thus, rob your identity and finances:
- Thieves will steal information from your trash. They look for bills and paperwork that may contain your personal information.
- When processing your card, they use a special storage device to steal your credit/debit card number.
- By phone or Internet, they pretend to be a financial institution that needs personal information from you.
- They fill out a change-of-address form and divert your billing statements to another location.
- They steal anything that may contain your personal information: purse, wallet, credit card statements, new checks, tax information, pre-approved credit offers and banking statements.
- They fraudulently obtain your personal information from banks, telephone companies or other sources.
Are you a victim of Identity Theft?
If you don’t monitor your balances and financial statements regularly, you could be a victim and not realize it. Make a habit of reviewing these documents, and look for unexplained charges or withdrawals. Other indications of identity theft can be:
- You’re not receiving bills or other mail. This could mean an identity thief has submitted a change of address.
- You’re receiving credit cards for which you did not apply.
- Your credit cards are being denied for no apparent reason.
- You’re receiving calls from debt collectors or companies regarding merchandise and services you didn’t purchase.
How to Protect Yourself
Protection begins with being alert and careful as to where and how your personal information is disclosed or displayed. The better you keep your personal information protected, the less likely you are to become a victim of identify theft. Here are some ways in which you can prevent your identity from being stolen.
- Don't give your personal or financial information over the phone or to anyone unless there is a legitimate need.
- Never carry your Social Security card with you. Memorize it.
- Leave your Medicare card at home. Carry a photocopy with your Social Security number’s last four digits removed.
- Pick up your checks from the bank. Do not have them delivered to your home.
- Do not keep PIN numbers anywhere in your wallet or purse.
- Shred all trash that contains personal information.
- Review financial reports carefully. Look for any suspicious transactions.
- Take outgoing mail to the post office.
- Keep photocopies of your driver’s license and credit cards in your wallet. Therefore, if your wallet is stolen, you can easily and instantly contact the necessary credit card companies.
If it Happens to You:
- Place a “fraud alert” on your name and Social Security number by calling all three national credit reporting bureaus (see contact information), and review your credit reports.
- Cancel all credit/debit ATM cards immediately - keep all toll-free numbers, along with account numbers, in a safe place where you can find them easily.
- File a police report immediately, in the jurisdiction in which your identification was stolen. This shows credit providers you were diligent and it is a first step toward investigation.
- File a complaint with the Federal Trade Commission (see contact information).
Sources: Federal Trade Commission.