By Mischel Powell
Certified Identity Theft Risk Management Specialist
Identity theft is a scary issue. It occurs when a person uses some else’s personal information to steal money or gain access to other benefits or information. Arizona is the identity-theft capital of the U. S. and for the second year in a row, has topped the Federal Trade Commission’s list of states with the most identity-theft complaints.
While people recognize that identity theft is a serious problem, many are not aware of all of the problems it can create for victims. Identity fraud victims may have to pay hundreds of dollars and spend countless hours repairing the damage done by identity thieves.
Fortunately, you can reduce your risk for identity fraud by taking the time and effort now to secure your personal information as much as possible by learning how to deter, detect and defend against identity theft.
DETER identity thieves by safeguarding your information.
♦ Shred all financial documents and paperwork with personal information before
you discard them. This includes credit card offers, bills and statements, which
are common targets for identity fraud.
♦ Safeguard your Social Security number. Don’t carry your card in your wallet
or write your number on a check. Give it out only if absolutely necessary!
♦ Never give out information that is not public record to anyone you do not know
or trust. People who call claiming to be from a research firm or to say you won
a free trip, may actually be committing identity fraud.
♦ Do not click on links in emails or pop-up ads asking for your personal
information; instead type in a web address you know.
♦ Protect you passwords and choose ones that are hard to guess. Using
your birth date, mother’s maiden name or Social Security number makes
passwords easier to guess and puts you at risk for identity fraud.
♦ Don’t leave a paper trail. Never leave ATM, credit card or gas station receipts
behind.
DETECT suspicious activity by routinely monitoring your financial accounts and billing statements.
♦ Be alert to signs that require immediate attention such as; bills that do not
arrive as expected, denials of credit for no apparent reason, calls or letters
about purchases you did not make.
♦ Inspect your credit report. Obtain and thoroughly review your credit report.
The law requires the major nationwide consumer reporting companies (Equifax,
Experian and TransUnion) to give you a free copy of your credit report each
year if you ask. For a free credit report visit www.AnnualCreditReport.com
or call 1-877-322-8225.
♦ Review your credit card and other financial statements regularly, looking for
charges you did not make. Make sure you recognize the merchants, locations
and purchases listed before paying the bill.
DEFEND against ID theft as soon as you suspect it.
♦ Contact creditors and close any accounts that have been tampered with or
opened fraudulently. Call the security or fraud departments of each company
where account was opened. Follow up in writing.
♦ Place a fraud alert on your credit reports, and review the reports carefully. An
initial 90-day fraud alert tells creditors to follow certain procedures before they
open new accounts in your name or make changes to your existing accounts.
A call to one creditor is sufficient.
- Equifax 1-800-525-6285
- Experian 1-888-EXPERIAN (397-3742)
- TransUnion 1-800-680-7289
♦ File a report with law enforcement in the area where the identity theft took
place to help ;you with creditors who may want proof of the crime.
♦ Keep records of everything involved in your efforts to clear up fraud, including copies
of written correspondence and records of telephone calls.
While these methods can go a long way towards avoiding identity theft, managing them can be very time consuming and still does not guarantee your identity will not be stolen. While monitoring your credit is a free and easy way to catch certain types of identity fraud before it is too late, it is not enough to completely protect you.
The best option may be purchasing a protection service. These types of services can help you reduce your risk, catch fraud sooner and take care of clearing your name and credit in the event identity fraud occurs. With all the risks out there, these services are a worthwhile investment in protecting yourself. If you are interested in finding out about identity protection plans visit www.prepaidlegal.com/hub/mischel.