Beware Of Identity Theft!

July 11, 2008

In the fast moving and highly technological age in which we live, identity theft is also on the increase. With the ease of access to information from anywhere in the world, a stranger can have access to your personal financial and identity information and in a moment either ruin you financially or assume your identity and make your life a real nightmare. Your goal is never to become a victim.

Identity thieves are getting more sophisticated every day. They can steal your mail, get your personal information through e-mail or by phone, capture information on a data storage device, take your purse, rummage through your trash, get your credit report through unauthorized access; the list just keeps getting longer. Once they have your information, they use your name, Social Security number, credit card number, or other personal information to commit fraud or theft. They might:

Run up charges on your credit card accounts
Open new credit accounts or cellular phone service using your name
Open a bank account in your name and write bad checks on it
Create counterfeit checks or credit or debit cards, or authorize electronic transfers in your name, and drain your bank account
Buy a car by taking out an auto loan in your name
Get identification such as a driver’s license issued with their picture in your name
Call your credit card issuer to change the billing address on your account. The imposter then runs up charges on your account. Because the bills are being sent to a different address, it may be some time before you realize there’s a problem.

Problems that result, such as unpaid bills, are reported on your credit report.

To prevent fraudsters from stealing your identity, you need to be vigilant and intentional on how you go about protecting your personal information. Do not:

Leave your pocket book, purse or wallet unattended in public places
Leave, If you are in a restaurant, your pocket book or purse at the table if you need to briefly walk away, unless you have someone who is with you to watch over it until you get back
Share your personal information with others via email
Discard documents in the trash with your personal information without first shredding
Allow your credit card statements and other mail containing financial or personal identifying information to remain in your street-side mailbox for any extended time after delivery. Consider using a post office box for delivery of such mail
Write down pin numbers and other access information to your personal and financial information where others may be able to see.

If you believe that you are the victim of identity theft, report it to law enforcement immediately, alert your financial institutions such as banks, credit unions, credit card companies, etc. Check your credit bureau files and place a fraud alert right away. By being proactive and careful in the protection of your personal and financial information, you may drastically reduce your chances of becoming a victim.

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