RSS
Home
Is someone looking over your shoulder? Protect your identity
Print
Email
RSS
Subscribe
It may be hard to believe, but there are people out there who make a career of pilfering our identities. They look for every opportunity to steal our money by using our bank account number, Social Security number, credit card numbers—anything that gives them entre into our lives.
But we can mount a defense against these scumbags by being careful how you handle your business affairs. Speaking of someone looking over your shoulder. A favorite trick of ID thieves is to stand behind or to your side at an ATM and purloin your ATM card number and PIN. They may do this by taking a photo with a cell phone. If you see anyone in line behind you using a cell phone at an ATM, don’t use it, or be assertive and ask them to put their phone away.
The same goes in the checkout line of a grocery store or department store. That nice lady behind you on her cell phone may be stealing your credit card number.
Another easy hit for such scoundrels is your mailbox. Your outgoing mail of course contains checks and bills with credit card and account numbers. The checks have your checking account and routing number. With that the crooks can siphon all your money from your account.
Even incoming mail is valuable to them. It contains much of this information as well. The National Crime Prevention Council (NCPC—home of McGruff) at http://www.ncpc.org/cms/cms-upload/prevent/files/IDtheftrev.pdf recommends using a lockable mailbox or taking all mail to the post office. The latter may not be convenient for all of us, but it is safer.
There are other things we should never do:
Never give your Social Security number to anyone on the phone unless you are absolutely certain who you are talking to. It’s best to say, "give me your number and I’ll call you back.” That way you know you are talking to the company you are supposed to be talking to.
The same holds true on the Internet. Never give your SSN to any e-mail request, even if it seems to come from your bank or credit card company. That is a favorite ploy of ID thieves.
Never carry your SS card or Medicare card (it contains your SS number) in your wallet except when you are going to use it. If you lose your wallet, or your pocket is picked, the thief has all he needs to drain you dry.
But are there red flags to look for to catch ID theft before it does that? Fortunately, yes. Check your bank statement carefully every month. If there are suspicious withdrawals, contact your bank immediately and tell them you suspect fraud. They will proceed from there.
Check your credit card statements carefully every month. Again, if there are charges that shouldn’t be there, contact your card company immediately. They too will immediately launch an investigation and put a hold on those charges.
But what if the ID theft has gone too far, and put you in deep trouble? What do you do then?
If you have reason to believe your identity has been stolen, it is critical to your financial well being that you immediately take steps to diminish the impact of the crime.
If you see signs of it on your credit card statement, you know to immediately contact your credit card company. If you see signs of ID theft on your bank account, immediately contact your bank.
But suppose all of a sudden you learn someone has taken out a large loan or made a large credit purchase in your name?
In all these cases, there are specific steps you must take to protect yourself from further harm.
The first is to immediately contact one of the three credit bureaus: Equifax, Experian and TransUnion, and place a fraud alert on your credit report.
Here are their addresses and phone numbers:
Equifax: 1-800-525-6285; www.equifax.com; P.O. Box 740241, Atlanta, GA 30374-0241
Experian: 1-888-EXPERIAN (397-3742); www.experian.com; P.O. Box 9532, Allen, TX 75013
TransUnion: 1-800-680-7289; www.transunion.com; Fraud Victim Assistance Division, P.O. Box 6790, Fullerton, CA 92834-6790
You need contact only one because they are required by law to contact the other two. You will receive a confirmation notice to that effect.
Now there are two types of alerts - an initial alert that remains on your report for 90 days. This requires creditors to take reasonable care to ensure the person applying for credit is you.
An extended alert stays on your report for seven years. You can get this if you file an identity theft report with the credit bureaus, such as the one available from the FTC at http://www.ftc.gov/bcp/edu/microsites/idtheft/consumers/filing-a-report.html. This requires any potential creditor to contact you or meet you in person.
Next, you must close the accounts you feel have been corrupted or opened falsely. Call the companies involved first, then send them a letter explaining the fraud. Send it certified mail, return receipt. Include an ID Theft Affidavit, which you can print out at http://www.ftc.gov/bcp/conline/pubs/credit/affidavit.pdf if the company accepts the FTC form. If they do not, ask for their fraud dispute form, or send the identity theft report.
The fraud alert does not prevent a possible thief from having a potential lender check your credit report. To do that you must initiate a credit freeze. This locks out your credit report from any new inquiries. Companies you already do business with can still access it—your mortgage company, credit card companies, etc., but no one new.
In most states it will cost you generally about $10 to freeze your report, and you have to do it for all three bureaus. Then, when you want to get a new loan, you must unfreeze, again at a price. Still, this is a very secure way to prevent ID thieves from using your report and identity to generate income for themselves.
If you want to know more:
Related Articles:
Add a Comment
