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Preventing Identity Theft
What is Identity Theft? It is the theft of your personal
information, such as social security number, driver's license
number, credit card and bank account numbers, mother's maiden
name, and more, with the intent to obtain credit and credit
cards from banks and retailers, steal money from the victim's
existing accounts, apply for loans, establish accounts with
utility companies, rent an apartment, file bankruptcy or obtain
a job using the victim's name.
Did you know that in some states Identity Theft is not even
against the law? The victim has to prove their innocence. This
shocks most Identity Theft Victims, as it should. It shocks me.
Law Enforcement and Credit Card Services should be there to
help, but in many cases they don't.
Being prepared, just in case someone steals your identity is a
must. It may be inconvenient, but unless you want to go out and
try to use your credit card one day, just to find that someone
else has been using your identity to make purchases and your
card is no longer accepted, then you need to take steps to
prevent your identity from being stolen. It can take years to
clear this up if it happens to you, so a little prevention now
is the answer.
Facts about Identity Theft:
* It is considered by law enforcement to be an absolute
epidemic, the fastest growing crime in the United States at this
time.
* For the criminal, identity theft is a relatively low-risk,
high-reward endeavor. Credit card issuers often don't prosecute
thieves who are apprehended. Why? The firms figure it's not cost
efficient. They can afford to write off a certain amount of
fraud as a cost of doing business. * Recently criminals have
been using the victim's identity to commit crimes ranging form
traffic infractions to felonies. How would you like to find out
you are wanted for a crime you know nothing about? It has
happened. * All that is needed is your social security number,
your birth date and other identifying information such as your
address and phone number and whatever else they can find out
about you. With this information, and a false driver's license
with their own picture, they can begin the crime.
* If you wait until it happens to you, it's a nightmare. You
won't know until you are denied credit or a creditor contacts
you about a charge you know nothing about.
How do I prevent Identity Theft?
At Home:
* If you have roommates, employ outside help, or are having work
done in your home, make sure your personal information is not
readily available to them.
* Deposit your outgoing mail in post office collection boxes or
at your local post office, rather than in an unsecured mailbox.
Promptly remove mail from your mailbox. If you're planning to be
away from home and can't pick up your mail, call the U.S. Postal
Service at 1-800-275-8777 to request a vacation hold. The Postal
Service will hold your mail at your local post office until you
can pick it up or are home to receive it.
* Tear or shred your charge receipts, copies of credit
applications, insurance forms, physician statements, checks and
bank statements, expired charge cards that you're discarding,
and credit offers you get in the mail. To opt out of receiving
offers of credit in the mail, call: 1-888-5-OPTOUT
(1-888-567-8688).
* Give your Social Security number only when absolutely
necessary, and ask to use other types of identifiers. If your
state uses your Social Security number as your driver's license
number, ask to substitute another number. Do the same if
your
health insurance company uses your Social Security number as
your policy number.
At Work:
* Ask about information security procedures in your workplace or
at businesses, doctor's offices or other institutions that
collect your personally identifying information. Find out who
has access to your personal information and verify that it is
handled securely. Ask about the disposal procedures for those
records as well. Find out if your information will be shared
with anyone else. If so, ask how your information can be kept
confidential. Keep your purse or wallet in a safe place at work;
do the same with copies of administrative forms that have your
sensitive personal information.
Online:
* If you do financial transactions over the Internet, read their
privacy and or security statements. You want to know who they
share your personal information with. You want to know they use
a "secure server" for transactions. You want to know how they
store your personal information. If you don't like what you
hear, don't do your business at that website. There are always
alternatives.
* Use PayPal. You can transfer a limited number of funds into
your paypal account and use it to buy merchandise online instead
of your credit card.
* Don't give out personal information on the phone, through the
mail, or on the Internet unless you've initiated the contact or
are sure you know who you're dealing with.
* Before you share any personal information, confirm that you
are dealing with a legitimate organization. Check an
organization's website by typing its URL in the address line,
rather than cutting and pasting it. Be cautious when responding
to promotions. Identity thieves may create phony promotional
offers to get you to give them your personal information.
Going Out:
* Carry only the identification information and the credit and
debit cards that you'll actually need when you go out. Don't
carry your social security card with you unless you expect to
need it.
Should I buy identity theft insurance?
Some companies offer insurance or similar products that claim to
give you protection against the costs associated with resolving
an identity theft case. Be aware that most creditors will only
deal with you to resolve problems, so the insurance company in
most cases will not be able to reduce that burden. As with any
product or service, make sure you understand what you're getting
before you buy. If you decide to buy an identity theft insurance
product, check out the company with your local Better Business
Bureau, consumer protection agency and state Attorney General to
see if they have any complaints on file.
Conclusion: Be smart. If someone is asking for your personal
information, anyone, including friends, acquaintances,
companies, stores, websites, or anyone else, ask questions. Find
out why they need this information, what they are going to do
with it, how long do they keep it stored, who they share it
with, and how can you be sure it is going to be kept secure.
About the author:
For more information on how to obtain credit cards and/or credit
reports, reduce credit card debt, or prevent Identity Theft, go
to http://creditcards.youngparentsmagazine.com .Jennifer also
has a lot of other great information at
http://www.youngparentsmagazine.com for young parents. Chris
McElroy has been an advocate for consumer rights on the Internet
since 1995 and also runs a missing children's organization at
http://www.kidsearchnetwork.org
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