Identity TheftPreventing ID Theft
Identity theft is one of the fastest growing crimes today. Identity theft occurs when someone uses your personal information such as your name, Social Security number, credit card number or other identifying information, without your permission to commit fraud or other crimes. A few examples of why identity thieves want your personal information include: -To open a new credit card account, using your name, date of birth and Social Security number. -To call your credit card issuer, pretending to be you, changing the mailing address on your account, and then run up charges on your account. -To open a bank account in your name and write bad checks on that account. Identity thieves increasingly obtain your personal information
through online phishing schemes.
If someone has access to your credit report, they have all the information they need to do serious damage. Along with information about existing credit card accounts, a credit report provides an individual's date of birth and Social Security number, which can be used to open fraudulent accounts. Under the Identity Theft And Assumption Deterrence Act, a name, birth certificate or social security number is considered a “means of identification” as well as credit card numbers, a driver’s license, or any other information that may be used alone or with other information to identify an individual. In most instances, a conviction for identity theft carries a maximum penalty of 15 years imprisonment, a fine and forfeiture of any personal property used or intended to be used to commit the crime. If you think you're among the victims, or worry about identity theft in general, don't panic. Under the federal Truth in Lending Act, you usually can't be held liable for more than $50 in unauthorized charges per credit card and many financial institutions won't hold you liable for even that. That doesn't mean identity theft is a victimless crime. Many people spend months, and years, trying to clear up their credit reports. In some cases, people have been arrested after a thief committed a crime in their name. How to minimize the damage: ·Get copies of your credit reports from all three credit bureaus. Contact the credit bureaus at: Experian-1-888-397-3742 Equifax-1-800-525-6285 TransUnion-1-800-680-7289 Look for any unauthorized charges or fraudulent accounts opened in your name. Even a misspelled name or incorrect address could be a signal of suspicious activity. ·Scrutinize the "inquiries" section of your credit reports. A lot of recent inquiries may indicate that a thief is trying to open credit accounts in your name. Even if the thief fails to open an account, a jump in inquiries will hurt your credit score, which lenders use to gauge your credit-worthiness and your ability to repay loans. You should also examine your monthly credit card bills for unauthorized charges. ·If you suspect identity theft, contact the credit bureaus' fraud departments. Ask them to place a fraud alert on your account, which flags creditors that someone may try to open fraudulent credit accounts in your name. A fraud alert can make it more difficult for someone to get credit in your name because it tells creditors to follow certain procedures to protect you. It may also delay your ability to obtain credit. You should also ask the credit bureaus to include a statement asking creditors to contact you before opening accounts or changing existing accounts. Provide a phone number where you can be reached. ·Most fraud alerts expire in three to six months; that may not be long enough to protect you. We recommend sending a letter to the credit bureaus requesting that the alerts remain on your account for seven years, the maximum most allow. You can always cancel the fraud alert before then. ·Fraud alerts aren't foolproof: Not all creditors pay attention to them. But they'll make it harder for thieves to open accounts in your name. If you ask, a debt collector must provide you with certain information about the debt you believe was incurred in your name by an ID thief--such as the name of the creditor and the amount of the debt. ·Close all unauthorized accounts or accounts that have been tampered with. The FTC provides an identity theft affidavit that you can use on its Web site, www.consumer.gov/idtheft . You can also file a complaint with the FTC at that website. Their phone number is 1-877-ID-THEFT (438-4338) or TTY, 1-877-653-4261. Reach them by mail at: Identity Theft Clearinghouse Federal Trade Commission Washington, DC 20580 Your complaint will be added to a nationwide database used to investigate and prosecute identity theft. ·File a report with your local police or in the jurisdiction where the ID theft occurred. This proves to creditors you were diligent and is the first step toward an investigation. Obtain a copy of the police report. You may need this to prove to credit card companies and others that you've been victimized. In the past, some victims have complained that police departments refused to take identity theft seriously, but as the crime becomes more prevalent, local police departments are paying more attention to this type of crime. The FTC has conducted training courses designed to help local authorities investigate cases. ·Keep good records. One of the most unsettling aspects of identity theft is that it can haunt you for years after the crime occurred. Documenting your case will provide your best defense. Along with copies of police reports and affidavits, you should keep records of phone calls, along with names of people you spoke with and the dates of the calls. Follow up phone calls in writing, using certified mail. Keep your files even if you believe the case is closed.
If you believe information in your file results from identity theft, you have the right to ask that a consumer reporting agency block that information from your file. An ID thief may run up bills in your name and not pay them. Information about the unpaid bills may appear on your consumer report. If you decide to ask a consumer reporting agency to block the reporting of this information, you must identify the information to block, and provide the consumer reporting agency with proof of your identity and a copy of your identity theft report. The consumer reporting agency can refuse or block your request for a block, for example, if you don't provide the necessary documentation, or where the block results from an error or a material misrepresentation of fact made by you. If the agency declines or rescinds the block, they must notify you. Once a debt resulting from ID theft has been blocked, a person or business with notice of the block may not sell, transfer, or place the debt for collection. If you believe information in your file results from ID theft, you have the right to ask that a consumer reporting agency block that information from your file. An identity thief may run up bills in your name and not pay them. Information about the unpaid bills may appear on your consumer report. If you decide to ask a consumer reporting agency to block the reporting of this information, you must identify the information to block, and provide the consumer reporting agency with proof of your identity and a copy of your identity theft report. The consumer reporting agency can refuse or block your request for a block, for example, if you don't provide the necessary documentation, or where the block results from an error or a material misrepresentation of fact made by you. If the agency declines or rescinds the block, they must notify you. Once a debt resulting from ID theft has been blocked, a person or business with notice of the block may not sell, transfer, or place the debt for collection. Unfortunately, identity theft is a major problem in today’s world. The more knowledge you have about it, the more you can prevent it from happening to you.
Identity Theft Protection
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