Avoid Identity Theft Scams
What is it?
According to the Federal Trade Commission, "identity theft occurs when someone uses your personal information such as your name, Social Security number, credit card number or other identifying information, without your permission to commit fraud or other crimes."
Why does it happen?
Identity theft occurs primarily as a means to obtain fraudulent financial gain. It can also occur when an individual attempts to thwart detection by assuming another identity.
Who is the target?
Anyone, particularly people who are likely to easily provide personal identification such as social security number, credit card numbers, or other unique identifiers.
Why is it increasing?
"Phishing" scams, an email-based scam that attempts to harvest personal financial information, accounts for a large number of identity theft crimes. The FTC estimates that 1 in 20 people who receive a phishing email fall for the scam and provide their confidential information! The FTC also states that identity theft is the fastest growing crime in America.
How do I prevent becoming a victim of identity theft?
Keep informed. Visit the Federal Trade Commission's website at http://www.consumer.gov/idtheft/ for more information.
Always be cautious when providing your personal financial information and ensure the request is legitimate. Do not pre-print or hand-write your Social Security Number on checks. Do not provide personal financial information if prompted to do so by an unsolicited email—no legitimate business would lightly request that information.
Use a shredder to destroy papers containing your personal financial or confidential information, including statements, health insurance forms, credit card information, etc. Secure confidential documentation in your home so it's not easily obtained by unauthorized individuals.
Carefully monitor your financial statements and report unauthorized transactions or discrepancies immediately.
Retrieve a credit report at least once a year and review for accuracy. The Fair and Accurate Credit Transactions Act of 2003 provides a FREE credit report upon request every 12 months. This act's intention is to allow consumers to keep a close watch on their financial histories. You have the following options to access your report:
Online: www.annualcreditreport.com
Phone: (877) 322-8228
Mail: Consumers need to complete the Annual Credit Report Request Form, which is available through the Federal Trade Commission's site at www.ftc.gov or by calling the number listed above. The form should be mailed to Annual Credit Report Request Service, P.O. Box 105281, Atlanta GA 30348-5281
The Federal Trade Commission is also offering a brochure called " Your Access To Free Credit Reports". The brochure is available online through the agency's site or by calling (877) FTC-HELP.
To retrieve more frequent credit reports and to establish credit alerts, consider pursuing a subscription service with one of the credit bureaus. Information can be obtained at:
Drop envelopes containing paid bills or other confidential information in postal drop boxes, or at the post office. Don't leave them in an unsecured mailbox for pickup by the carrier.
Never carry your Social Security card or birth certificate unless absolutely necessary. Likewise, remove any credit cards from your wallet that you don't need to have physically accessible, and store in a secured area.
When conducting business online, make sure you read the company's privacy policy to ensure they'll protect your confidential information. Be sure the site is a secured site (https://) and that the session has a padlock in the lower right of your screen before entering confidential information.
What do I do if I suspect I'm the victim of identity theft?
Follow the instructions provided at http://www.consumer.gov/idtheft. Review the instructions at least once a year to have an understanding of what is recommended procedure, and keep a printout available in the event you must follow them.
Where can I go for more information?