Protecting Against Identity Theft
Facts
- 10
million American consumers were victims in 2002.
- 48%
discovered the theft within a month.
- 15
% did not discover it within two years.
- Average
loss is over $10,000.
- Takes
a victim 18 months to recover credit
The
theft of personal data such as your social security number
to commit fraud can be divided into several categories.
The
Quick Hit
- Identification
taken when a thief steals a wallet or purse.
- Credits
cards maxed out within hours.
- 70% of identity
theft victims reported their credit cards misused.
The
Scam
- Victims
are tricked into revealing personal information.
- Scams
include phone calls, emails, letters.
- Suspects
pretend to be looking to verify current accounts.
- Information
used to open new accounts.
Phishing
- Fraudulent
e-mail received.
- Usually appears to be from
a bank, PayPal, eBay, a credit card company,
or merchant.
- Visible link appears legitimate. If you are suspicious,
mouse-over the link to see if the actual URL is visible
in the browser status bar at the bottom.
- Asks you to fill
out statement with your personal information.
Skimming
- Running
a credit card thru a duplicator.
- Appears to be a
credit purchase.
- Used to copy personal
identification.
Shoulder
Surfing
- Looking
over the shoulder.
- Copies the number
of the credit card.
- Listening for personal
information.
- Use of recorders
or photo phones.
Alter
Identity
- Personal
information used to obtain a job, obtain a drivers' license,
government benefits, or elude police.
- 15% of victims experienced
this type of identity theft.
Reduce
Your Risk
- Review
bank and credit statements monthly.
- Destroy/shred documents.
- Order annual copies
of credit reports.
- Carry only those
cards you need.
- Don't print drivers
license or SS# on checks.
- Call and ask about
late bank statements or bills.
- Only give out personal
information when you initiate the contact.
- Don't send information
via e-mail.
- Go to the post office
not mail box.
- Keep PIN numbers
separate.
- Keep all account
and toll free numbers handy.
Online
Safety
- Before
supplying personal information, check the "lock" or
https in the URL web address.
- Read security and
privacy policies.
- Use 128 bit encryption
technology on Web browser.
- Protect passwords.
- Use virus software
daily
Locking
Them Out
Contact each of the three national credit-reporting agencies
to request a "security freeze" on your credit report:
Other
Helpful Tips
- When you order checks, imprint them with only your first
initial and last name.
If someone takes your checkbook, they will not know if you
sign your checks with just your initials or your first name,
but your bank will know how you sign your checks.
- Despite what your credit card says, do
not sign the back of your credit cards. Instead, put "PHOTO
ID REQUIRED."
- When
you are writing checks to pay on your credit card accounts,
do not enter the complete account number on the "memo"
line. Instead, just enter the last four numbers. The credit
card company knows the rest of the number, and anyone who might
be handling your check as it passes through all the
check-processing channels will not have access to it.
- Put
your work phone number on your checks instead of your home
phone. If you have a P.O. Box, use that instead of your home
address. If you do not have a P.O. Box, use your work address.
- Never print your social security number of drivers license
number on your checks. You can add the driver's license number
manually when you write a check, if required.
- Place
the contents of your wallet on a photocopy machine. Do both
sides of each license, credit card, etc. You will know what
you had in your wallet and all of the account numbers and
phone numbers to call and
cancel. Keep the photocopy in a secure place.
- Carry
a photocopy of your passport when traveling either here
or abroad.
- When you check out
of a hotel that uses cards for keys, do not turn the "keys" in.
Take them with you and destroy them. Those little cards have
on them all of the information you gave the hotel, including
address and credit card numbers and expiration dates. Someone
with a card reader, or employee of the hotel, can access all
that information.
One victim, an attorney, eported that within a week of his wallet
being stolen,
the thieve(s) ordered an expensive, monthly cell phone package,
applied for a VISA credit card, had a credit line approved
to buy a Gateway computer and received a PIN number from DMV
to change my driving record information online.
Limiting Damage
If your wallet is lost or stolen:
- Cancel your credit cards immediately.
The key is having the toll free numbers and your card numbers
handy so you know whom to call. An easy way to retain this
information is to photocopy the backs and fronts of all of
your credit cards. File these copies in a secure location.
- File a police report
immediately in the jurisdiction where your credit cards, etc.,
were stolen. This proves to credit providers you were diligent,
and this is a first step toward an investigation (if there
ever is one).
- Call the three national credit reporting organizations immediately
to place a fraud alert on your name and Social Security number.
The alert means any company that checks your credit knows your
information was stolen, and they have to contact you by phone
to authorize new credit. Since then, no additional damage has
been done, and the thieves threw my wallet away this weekend
(someone turned it in). It seems to have stopped them dead
in their tracks.
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