Identity Theft

What exactly is identity theft?

Identity theft occurs when someone uses your name, address, Social Security number (SSN), bank or credit card account number, or other identifying information without your knowledge to open accounts, commit fraud or other crimes.

How can someone steal my identity?

Identity thieves may use any number of low and or high-tech methods to gain access to your personally identifying information. For example:

• They get information from businesses or institutions by:
  • stealing records from their employer,
  • bribing an employee who has access to the records,
  • conning information out of employees, or
  • hacking into the organization's computers.
• They rummage through your trash, the trash of businesses, or dumps in a practice known as "dumpster diving."
• They obtain credit reports by abusing their employer's authorized access to credit reports or by posing as a landlord, employer or someone else who may have a legitimate need for and a legal right to the information.
• They steal credit and debit card account numbers as your card is processed by using a special information storage device in a practice known as "skimming".
• They steal wallets and purses containing identification and credit and bank cards.
• They steal mail, including bank and credit card statements, pre-approved credit offers, new checks, or tax information.
• They complete a "change of address form " to divert mail to another location.
• They steal personal information from your home.
• They scam information from you by posing as a legitimate business person or government official.

What are the consequences of identity theft?

Once identity thieves have your personal information, they may:

• Go on spending sprees using your credit and debit card account numbers to buy "big-ticket" items, like computers, that they can easily sell.
• Open a new credit card account, using your name, date of birth and SSN. When they don't pay the bills, the delinquent account is reported on your credit report
• Change the mailing address on your credit card account. The imposter then runs up charges on the account. Because the bills are being sent to the new address, it may take some time before you realize there's a problem.
• Take out auto loans in your name.
• Establish phone or wireless service in your name.
• Counterfeit checks or debit cards, and drain your bank account.
• Open a bank account in your name and write bad checks on that account.
• File for bankruptcy under your name to avoid paying debts they've incurred, or to avoid eviction.
• Give your name to the police during an arrest. If they are released and don't show up for their court date, an arrest warrant could be issued in your name.

PREVENTION AND PROTECTION ARE THE KEY

To avoid becoming a victim of identity theft, there are certain preventative measures you can take.

• Don't give out personal information such as your SSN, mother's maiden name, or account numbers over the phone or the internet unless you know the information is secure. You can recognize a secure website, as it has an https:// at the beginning of the web address at the top of the page on which you are submitting your information. It also must have a picture of a lock in the bottom right corner of the page. If you don't see both of these measures in place, do not submit your information
• Your home is your castle, but your personal information should be secure from visitors or outsiders who may come in to your home to perform service. Keep this information stored away where it can't be easily found.
• Do not keep your Social Security Card or SS number in your purse or wallet; leave it at home in a secure spot.s
• Your trash might become an identity thief's treasure: a thief can go through your trash to find personal information from receipts, medical bills, bank statements or checks. Even those pre-screened credit card offers that you receive can be used if they fall into the wrong hands. SHRED ALL OF THESE BEFORE THROWING OUT.
• DO NOT open e-mails or attachments from e-mail addresses you are unfamiliar with. There are programs you can buy that will filter out junk e-mail and if you have an e-mail address through Hotmail (MSN), AOL, or Yahoo they offer certain protections against junk or spam e-mails.

How can I tell if I'm a victim of identity theft?

• Monitor the balances of your financial accounts. Look for unexplained charges or withdrawals.
• Other indications of identity theft include:
  • failing to receive bills or other mail, which may signal an address change by the identity thief,
  • receiving credit cards for which you did not apply,
  • being denied credit for no apparent reason, or
  • receiving calls or letters from debt collectors or businesses about merchandise or services you did not buy.

Some of the signs mentioned above could be the result of a simple mistake, but you shouldn't ignore these and just hope they will go away. Always follow up with the business or institution to find out exactly what is causing the situation.