Identity Theft Articles

The best identity theft protection can be hard to find and incorporate into your daily habits. Identity theft is becoming a crime of choice these days because it is so easy to get away with. It is approximated that over 7 million individuals fell victim to identity theft last year and this year is supposed to reach close to 10 million. Scary huh?

The good think is, you have a few options when it comes to protecting yourself from becoming an identity theft victim. Most of the thing that can, and will protect you, have to be done by you all the time. There are also services you can purchase that do a lot of the work of protecting your identity for you. No matter what, to get the best identity theft protection, you need to do some things yourself.

Here are a few things you can and need to start doing today.

You need to watch your mail like a hawk. Mail is one of the easiest ways for a thief to get a hold of your personal information. All they need to do is get a bank statement, medical bill, credit card bill, or others and your identity is toast. They can also steal other things out of your mail like money and items purchased over the internet or phone and are mailed to you.

Have you ever shredded your personal documents that you don’t want to keep around the house? How about those pesky credit card offers that you get in the mail every day? If you are already in the habit of tossing those in the mail, you are giving a dumpster diver the perfect opportunity to find and steal a new identity for him or herself. Go out today and buy a good shredder, not just a regular shredder, but a cross cut shredder that can shred up to 6 pages at a time. Shred everything! Even stuff that doesn’t need to be shredded. Better safe that sorry!

Be aware of shady store employees when paying by debit or credit card. You should never let your credit card be out of your sight. This has mostly been a problem in the restaurant industry when the individual serving you takes your card away to run it. How easy would it be for them to quickly write down your credit card information and start stealing money from you?

Never, never, ever give your personal information out over the phone, this is called phishing. This happens when someone calls posing as someone from your bank or credit card company asking you to verify your social security number. Don’t do it! They already have it and would never ask for that over the phone. Immediately hang up and call that institution and verify that it was not them and report it.

You just need to be aware of everything that is going on around you and in your personal life. You are smart and can protect yourself, but some people get lazy. Remember, the best identity theft protection can be done by you! Work hard to protect everything you have worked so hard to build.

Identify theft and money scams are on the increase.

The FBI estimate that the number of individuals who become a victim of identity theft will increase between 500,000 and 700,000 each year. What’s more it can sometimes take up to a year before some realises that they are a victim of identity fraud an average of 175 hours to clear their name.

I was reminded of these grim facts when I recently received a letter from the “International Lotto Commission” telling me that I had won 850,831 Euros.

The “Payment Release Form” asked for comprehensive details including:

1. Name
2. Sex
3. Date of Birth
4. Address
5. Nationality
6. Email address
7. Phone numbers
8. Bank details

Although, if I wanted a “certified bank cheque”, the form stated that I didn’t have to give my bank account details. However, even without my bank details, if I provided the rest of information, in the wrong hands my identity would be in serious jeopardy. They even wanted to know who my next of kin was.

The letter was covered with a mishmash of photocopied logos and other images that were supposed to add authenticity to the letter from Spain. There were typos and while there was a lot of information in the letter it didn’t stand up to close scrutiny.

I immediately knew it was a scam and the only thing that snatched the letter from the jaws of my shredder was my decision to write about it.

For the problem is that people are falling for these types of money scams. They send fraudsters their money or their credit card or bank details. Armed with this information fraudsters can have a field day.

They can either make a single hefty withdrawal or they can withdraw small amounts of money over a longer period of time which may go unnoticed for months by someone who does not regularly and rigorously check their statements. You see, small amounts of money from multiple sources can result in rich pickings indeed for these criminals.

The FBI reports that it can sometimes take up to 12 months before someone realises that they are a victim of identity fraud. And, it can take up to 175 hours for someone to clear their name.

Other research has shown that:

~ 10 million Americans are victims of identity fraud each year

~ 20 million of UK householders are increasing their risk of being exposed to fraudsters by failing to take precautions against identity theft

~ 18 million UK households regularly throw away (without shredding) sensitive financial documents

~ 90% of all users never check their credit card or bank account statements

~ Identity theft is costing the British economy in excess of £1.7 billion annually and the US economy in excess of $5 billion

~ The average UK adult is exposed to online identity theft to the tune of £10,000

However, it’s not just individuals who are risk - businesses are vulnerable as well. The US Federal Trade Commission reports that the average loss for business victims is over $10,000 and that business identity theft is costing an estimated $48 billion per annum.

Therefore, be suspicious, be vigilant and take steps to ensure that you, your family and your business are safe.

You may be a victim of identity theft and not even know it. Thieves may have secured important information about you and are using it without you knowing what they are doing. By the time you discover their nasty deeds, much damage may have already been done. While you may not be held responsible for their antics, the aggravation and recurring pain you will go through in restoring your good name can be intense. Let’s take a look at some ways you can stop identity theft now.

Protect your social security number. There are very few people in life who really need to know your social security number. Besides government entities and certain creditors, no one should be asking you for that information. If they do, politely refuse or instruct them to mail their request to you in writing.

Block telemarketers. Make certain that your phone number is registered on “do not call” registries to keep telemarketers at bay. You control your phone; get caller i.d. to avoid those who slip through the loopholes in the law.

Chop it up. Important documents you no longer need should not be tossed in the trash without going through a shredder first. Purchase a unit that shreds your paper into small diamonds to ensure that no thief will piece back together important information and make you an easy victim of identity theft.

Examine your monthly statements. With consumers charging just about anything including their gas, food, store, and online purchases, it can be easy to skim through monthly credit card statements without paying attention to every line. Crafty thieves are hoping that you will do just that! Examine each line and respond to anything that doesn’t look legitimate. If you have a dispute, follow the instructions from your credit card supplier on how to contest something that is not right. Usually, in order to maintain your rights, you have to register your dispute in writing.

Guard your mail. Having a mailbox on the street is an easy way for thieves to drive up, take your mail, and cruise away. In some neighborhoods, it is simply better to use a secured post office box than to risk thieves riding off with your mail. If you suspect that someone has stolen your mail, notify your local postmaster. The United States Postal Service has a crack team of investigators who are heavily involved in battling identity theft through mail fraud.

Shield your computer. By running the most current internet security programs, regularly updating your various passwords, and only buying goods through a secure site [which are those with an “s” in their web address: https], you can limit the opportunities for thieves to steal your information.

Order your free credit reports. Beginning in September 2005, the 3 major credit reporting agencies - Equifax, Experian, and Trans Union - are now required to allow consumers to receive one free copy of their personal credit report every year. Some consumers, in order to stay on top of their credit history, order a copy every 4 months from a different agency. Examine your credit reports closely and take the necessary steps to amend all errors.

If you know that you are a victim of identity theft, notify your local police department and file a report with them. In addition, contact all 3 credit reporting agencies and ask that a “fraud alert” be placed in your credit file. You must take aggressive action to counter this widespread problem and to ensure that your good name and credit record are properly restored. Fight back: you can win the identity theft battle!