As many as 10 million Americans have their identities stolen each year. Identity theft takes place when someone steals personal information, such as a social security or bank account number. Thieves open new bank and credit card accounts in your name, get loans, and take over your identity. You might not know about it for months, until a loan application is rejected, bill collectors call about purchases you never made, and extensive damage is done. You cannot prevent it, but you can reduce your risk. Here are the very minimum steps everyone should take to try to protect themselves.
Step #1: Request and review your credit report regularly.
Take advantage of your ability to receive a free credit report from each of the three credit bureaus once a year. By rotating your requesting between Equifax, Experian, and TransUnion every four months, you can monitor your credit for free throughout the year.
Step #2: Keep copies of key information.
Keep copies of important information, such as passports, credit card account numbers and credit card company phone numbers together and in a safe place in case your wallet is stolen or a natural disaster occurs.
Step #3: Don't use debit cards.
Don't use debit cards, as charges to your debit card hit your checking account quickly and leave you less protection than credit cards. Minimize the number of credit cards you carry in your wallet. When using your credit at restaurants and stores, pay close attention to how your credit card is handled. Dishonest employees can use small hand-held devices (skimmers) or camera phones to capture your account number for later use.
Step #4: Never give out personal information over the phone, by mail, or on the internet unless you have initiated the communication and trust the other party.
Thieves will make up stories ("Today is your lucky day! You have been chosen…") to get your social security number, driver's license number, credit or debit card number and steal your identity. Internet con artists will send you emails that appear to be from your bank, eBay, or PayPal and instruct you to visit their website, which looks just like the real thing. They will ask you to give or confirm personal information in attempt to "phish" you.
Step #5: Destroy all financial information and receipts in a 1/8" inch cross shredder.
Never toss pre-approved credit offers, credit card receipts, phone bills, bank account statements, investment account reports or other documents with personal information directly into a trash container. Make sure to cross shred them before disposal.
Step #6: Freeze your credit file.
Everyone in all 50 states can freeze their credit files by mailing a certified letter to the three credit bureaus. Freezing is free for identity-theft victims. Otherwise, the cost varies. For your state’s law, go to www.consumersunion.org/securityfreeze.htm. In the 11 states without a law, TransUnion and Experian charge $10 to lock your report and another $l0 to unlock it. Equifax hasn’t released the details of its plan. People you already do business with will still be able to examine your credit.
Step #7: Minimize use and evidence of your social security or driver's license number.
Do not print your numbers on checks or on applications or questionnaires, even if required. Minimize carrying evidence of your social security number with you (like your social security card, or if it is written on your health insurance cards). Do not say your social security or driver's license numbers out loud when you are in a public place. Write it on paper instead, and take that paper with you to shred. When creating passwords and personal identification numbers, do not use the last four digits of your social security number (or your mother's mother's maiden name, birthdate, middle name, pet's name, consecutive numbers or anything else that could easily be discovered by thieves).
Step #8: Safeguard your computer.
Install and update firewall and virus protection software on your computer.
Step #9: Remove information about you in the public domain.
-Remove your name from the marketing lists of the three credit reporting bureaus - Equifax, Experian, and TransUnion. Call 888-5OPTOUT or go online to www.optoutprescreen.com.
-Sign up for the Federal Trade Commission's National Do Not Call Registry at (888) 382-1222 (www.donotcall.gov). Your name is added to name deletion lists used by nationwide marketers. You may also need to register for your state's "do not call" list, if it has one.
-Sign up for the Direct Marketing Association's Mail Preference Service by writing to Mail Preference Service, PO Box 282, Carmel, NY 10512. Include $1 check or money order. You can also opt-out online at www.dmaconsumers.org/cgi/offmailinglist. Your name is added to name deletion lists used by nationwide marketers.
-Have your name and address removed from the phone book and reverse directories.
-Opt-out of the sale or sharing of your financial information when given the opportunity by your bank, credit card companies, insurance companies, and investment firms.
Step #10: Lock all mail.
Install a locked mailbox at your residence to secure both ingoing and outgoing mail. Thieves can gain vital information about you from credit card preapprovals, bank statements, bills, and other mail. Even better, convert as much bill-paying, statements, and other correspondence as possible to electronic notices and automatic bank deductions.
SELECTED WEBSITES
FTC: http://www.ftc.gov/bcp/edu/microsites/idtheft//
Federal Agencies and Technology Industry: www.onguardonline.gov
Identity Theft Resource Center: www.idtheftcenter.org
Privacy Rights Clearinghouse: www.privacyrights.org
U.S. Dept. of Justice: www.usdoj.gov/criminal/fraud/idtheft.html
FBI Internet Fraud Complaint Center. www.ic3.gov
Antiphising: www.antiphishing.org
Equifax: http://www.equifax.com/home/
Experian: http://www.experian.com/consumer/index_om_b1.html
TransUnion: http://www.transunion.com/
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