Identify theft can take several forms. The criminal can do something simple like use a stolen or counterfeit credit card. They can take over your accounts or set up new accounts in your name. Sometimes they get loans in your name and then default on the loan, so collectors are after you. In extreme cases they can also commit crimes in your name, so you are charged with crimes you did not do. They also can go to jail using your name, so you have a record. When your identity is stolen it takes time and money to clean up the mess or you may be unable to get a job or loan.
Prevention
Although it is impossible to prevent identity theft, there are several precautions you can take to make it less likely to happen to you. Here are a few of these suggestions: 1. Make sure to shred all documents with personal information before throwing away. 2. Put outgoing mail in a secure mail box or take to the post office yourself. 3. If you are not receiving your monthly statements from creditors, the criminals maybe stealing them for information. 4. Review monthly statements for erroneous charges and report them immediately. 5. Only give out personal information when necessary to businesses you know. Do not respond to email or letters asking to verify information. 6. Keep a list of credit cards in a safe place with phone numbers to call if lost/stolen. 7. Make sure to get your free credit report from each of the credit reporting agencies each year. Since there are three companies, you can get one report every for months. Just go to: https://www.annualcreditreport.com/cra/index.
If you believe you are a victim: The four basic steps are: 1. Place a fraud alert on your credit report 2. Close all accounts/credit cards that were compromised 3. File a police report with your local agency 4. File a complaint with the FTC
For more information on if you believe you are a victim, go to: http://www.consumer.gov/idtheft/con_steps.htm
Please click on the links below for more information on identify theft.
- Federal Trade Commission- http://www.ftc.gov/bcp/edu/microsites/idtheft/
- Non-profit site about identity theft- http://www.idtheftcenter.org/
