Identity theft is one of the fastest growing crimes in America today. Being a victim can have a huge impact on you now and potentially well into the future.  One of the frightening aspects of identity fraud is that it’s most often perpetrated by a faceless enemy, and the struggle is fought on many different fronts: online, over the phone and even in the dumpster. However, if you can remember some simple advice and employ some easy tactics, you can significantly reduce your risk of becoming a victim. 

Picture this: You’re sitting at the kitchen table, pouring over your budget and bills, when you open your credit card bill to discover a $1200 charge you’re certain you never authorized. Someone’s taken your name and used it for their own purposes. You’ve been a victim of a growing crime and you didn’t know it until now. 

TAKE CHARGE 

What is Identity theft?

Identity theft occurs when someone uses your personal information without your permission to commit fraud or other crimes. How do I avoid it? According to the Federal Trade Commission (FTC), as many as 9 million Americans have their identities stolen each year. While it’s not always preventable, there are things you can do to help keep the odds in your favor.

• Upon receiving your credit card and bank statements each month, take a close look to make sure that no unauthorized activities occurred.

• Call your bank or credit card company if a statement is late. A missing bill could be an indication that identity theft has occurred or a thief has recently obtained your information.

• Never give out personal information over email, the Internet or the phone unless you have initiated the contact. Identity thieves often pose as government officials, representatives from the bank, credit card companies or Internet service providers in order to con you into revealing your personal information.

• Use intricate passwords for your computer, email and Internet accounts. The best passwords use a combination of numbers, capital and lowercase letters. Never use something that can be easily guessed, like your maiden name, phone number or birth date, as a password.

• Shred documents, like credit card receipts and insurance forms, that show your personal information before you dispose of them.

• Don’t leave outgoing mail in your own mailbox. It’s incredibly easy for identity thieves to target mailboxes and pull bank numbers from checks, sensitive information from bills and a variety of other sensitive information.  Instead, deposit mail directly into post office boxes.

• Cancel credit cards that you don’t need or use. When canceling, tell the lender to make a note that the “card was cancelled at the cardholder’s request.”

• Keep your Social Security card in a safe location—never keep it in your wallet or carry it around with you. Likewise, carry only the necessary ID and credit cards with you.

• Only give out your Social Security number when it’s absolutely necessary. Ask if you can use a different form of identification instead. 

How do I recognize it?

Your best defense is to be aware. When it comes to your financial information, stay alert and watch for these common signs of identity theft:

1. Bills arrive for a credit card account that you never opened

2. Your credit card bills include charges you didn’t make.

3. Be aware of late credit card statements that arrive after the payment due date.

4. Your bank statements contain unfamiliar transfers or withdrawals.

5. You’ve ordered new checks, but they haven’t arrived at your house

6. Lenders deny your requests for credit despite previously having good standing.

How to prevent identity theft?

Preventative Measures.  Here are several simple ways to combat the most common form of online identity theft:

• Turn on the spam filters for your email inbox. This will help identify misleadingemails attempting to “phish” for your password. Be suspicious of any email thatasks you to respond with personal or account information.

• Beware of scams by thieves posing as prominent companies. Double-check email addresses and website locations.  Many times they have key words in them but otherwise appear unofficial, e.g.:ebay2@yahoo.com.

• Use PayPal when available. Companies like PayPal are strictly regulated and are accepted around the world. Utilize their services rather than credit cards to make purchases at web sites you are unsure of.