Tips to Protect Against Identity Theft

Everyday Tips for Guarding Against Identity Theft

Gone are the days of thinking 'that'll never happen to me' and it's imperative to be proactive in guarding yourself against Identity Theft.

Recent Identity Theft statistics:

• 11.1 million adults were victims of identity theft in 2009
• The total fraud amount was $54 billion
• The average victim spent 21 hours and $373 out of pocket resolving the crime
• 4.8% of the population was a victim of identity fraud in 2009
• 13% of identity fraud crimes were committed by someone the victim knew
• Stolen wallets and physical paperwork accounts for almost half (43%) of all identity theft (Javelin Strategy and Research, 2009).
• Online methods accounted for 11% (Javelin Strategy and Research, 2009).
• 38% of ID theft victims had their debit or credit card number stolen (Javelin Strategy and Research, 2009).
• 37% of ID theft victims had their Social Security number stolen (Javelin Strategy and Research, 2009).
• More than 35 million data records were compromised in corporate and government data breaches in 2008 (ITRC).
• 38-48% discover someone has stolen their identity within three months, while 9-18% of victims don't learn that their identity has been stolen for four or more years (Identity Theft Resource Center Aftermath Study, 2004).
• 50.2 million Americans were using a credit monitoring service as of September 2008 (Javelin Strategy and Research, 2009).
• 44% of consumers view their credit reports using AnnualCreditReport.com. One in seven consumers receive their credit report via a credit monitoring service. (Javelin Strategy and Research, 2009

How Credit Fraud and Identity Theft Occur

Tips for Preventing Credit Fraud and Identity Theft

• Ask for Credit Card Verification

  Many people wonder if they should sign the back of their credit card, or write "SEE ID". You can do both. By signing the back of your credit card, you're validating the card and agreeing with the banks' terms, and by putting "SEE ID", you're telling the clerks to check the name and signature on the card against a drivers license.

• Shred Everything with Personal Information

  Buy a crosscut portable shredder and get in the weekly habit of shredding paper documents containing your name and personal information. Thieves will dumpster dive and remove anything they think may be of value to them. Shredding is a double safeguard, because if identifying documents survive your trash, they go to a facility with employees. Employees take things too.

• Remove Labels from Prescription Medicine Bottles

  Remove the paper labels from prescription medicine bottles or boxes, before you throw them away. Thieves can use your personal information that's on that medicine label.

• Be Careful with Checks

  Your personal checks can carry a lot of information on them. Be careful what personal information you put on your check. Use your work phone number instead of a home phone. Use a P.O. Box instead of your home address or your work address. Never have your Social Security or Drivers License number printed on your checks (or anywhere else.) You can always write this information down later if needed. If a situation arises where you don't trust who you're giving your check to then pay with cash. When you're writing a check to pay a credit card bill, DO NOT put the complete account number anywhere on the check. Instead, just write or enter the last four numbers. The credit card company knows the rest of your account number, and anyone who might be handling your check as it passes through all the processing channels won't have access to it.

• Caution when Recycling Old Computers

  When you clean or erase a harddrive, all that means is 'you' can see any data there. However, there are people that make it their business to recover erased data. Best thing to do if you're throwing out or recycling computers is to physically remove the harddrive and destroy it.

• Know Your Payment Cycles

  Monitor payment cycles on your credit cards and also when your bank statement arrives every month. Call if the statements are late. Identity thieves could have requested a change of address. It's not unusual for identity thieves to run up hefty charges before you even notice.

• Pre-Approved Credit Offers

  A source of potential credit fraud is pre-approved credit offers. A thief who intercepts one may fill out the application and change the address to obtain a credit card in your name for which you'll never receive a statement. Monitoring your Credit Report regularly is important because it'll show credit accounts being reported in your name of which you're not aware.  An Identity thief may even make the minimum payments for a while, until such time as the card is maxed out. Then the account would eventually be turned over for collections - in your name, and listed on your credit report. If you don't monitor your credit report on a monthly basis, you won't know about if someone has stolen your Identity until after the fact.

• Online Caution

  While using the Internet, be on guard and watch for scams: Don't give personal information to people or companies who may ask you to click a link to verify your information. Don't click on links in email from unknown senders – if it's spam, then it's a scam. Be aware of 'phising' techniques; they pretend to be an authoritative organization, such as your credit card or Amazon or PayPal or eBay, asking you to verify your information. Never click or use these scam links. Never put identifying information on discussion forums or websites such as Facebook that will leave the door open to identity thieves.

• Check Your Accounts Online Regularly

  Monitor your accounts online. Regular electronic monitoring will increase your ability to catch fraudulent charges sooner and will decrease the amount of mail you receive, as well as the threat of mail theft.

• Destroy Hotel / Motel Entry Key Cards

  Hotel / motel key entry cards store your personal information. All of the information you gave at the hotel front desk, or when you made the reservation, is stored on the magnetic strip of the card. Best thing to do is cut them in half and destroy them before you leave. Toss them out, or give them back to the hotel.

• One File of Important Information

  Make a copy of all your important documents and keep it in a secure place, whether it's a safe deposit box, or a shoebox in your closet. If your wallet or purse is stolen, you should know everything that's in it and act quickly. Photo copy (front & back) of all contents in your wallet, including your Drivers License and Social Security card. Don't carry your social security card in your wallet. Make copies of all credit cards and bank account numbers, as well as their customer service phone numbers.

What to Do Immediately if You're a Victim of Identity Theft

• Contact each creditor that you believe to have been affected. Call and send follow-up letters to every company where you think your name may have been used fraudulently in some way - credit card issuers, department stores, utility companies or others.
  In addition, do the following:
  - Ask them to close any fraudulent accounts you become aware of and ask the companies to report any necessary corrections to the three major credit bureaus.
  - If someone has taken over your accounts and you want to maintain accounts with those companies, ask for replacement credit cards with new account numbers.
• Call your bank and cancel Debit Cards, and ask them to set up new accounts for your Savings & checking.
• File a police report. Get a copy of the police report as this will provide you with legal document proving where and when the incident took place. This also documents to your bank and credit agencies that you took action.
• Notify your Human Resources department if you have paychecks auto deposited into your bank account.
• Contact your local Department of Motor Vehicles, because if someone is using your name they can have a fake driver's license made. If you suspect this, you should notify the Department of Motor Vehicles in your state of residence.
• Call each of the three national credit bureaus immediately to place a fraud alert on your name.
• Also call the Social Security fraud line number. The alert means any company that checks your credit knows your information was stolen, and they have to contact you by phone to authorize new credit.
• Mail Theft is a felony. If you believe that someone has filed a change of address form in your name with the U.S. Postal Service or used the mail to commit fraud, consider doing the following:
  Notify your Postal Inspector and explain what happened. Call and write to the postal authority where the fraud was committed. Ask for a "fraud complaint" form to make sure that no mail with your name on it continues to be sent to a fraudulent address. You can also access this form on the https://postalinspectors.uspis.gov/ website.
• Sign up with LifeLock

What You Should Do During a Fraud Investigation

• Maintain meticulous records. Keep a log of all your calls: write down the names, dates, and phone numbers (including extensions) of the people you talked to.
• Maintain copies of all your letters and emails to authorities, financial institutions, and creditors.
• Request time frames concerning the receipt of documentation and the resolution of your disputes.

Social Security Administration (fraud line)

Credit Bureaus:

Equifax Information

Trans Union

Experian

Identity Protection