Think of how many times a day you share your personal information. You may write a check at the local grocery store, apply for a credit card, make a call on your cell phone, charge tickets to a Mavs game, mail your tax return or buy Dallas Symphony tickets over the Internet.
With each transaction, you share your personal information: your bank and credit card account numbers, your income, your social security number, your name, address and phone number.
In 1998, Congress passed a law making identity theft a federal crime. The U.S. Secret Service, FBI and U.S. Postal Inspection Service investigate violations of the Act. Persons accused of identity theft are prosecuted by the Department of Justice.
Consumer complaints about identity theft continue to grow. More than 40 percent of all complaints filed with the U.S. Federal Trade Commission last year were for identity theft.
Unless you live your life in a bubble, you can't prevent the stealing of your personal information, but you can minimize the risks of this crime happening to you by following these suggestions:
- Never divulge information about your social security number, credit card number, account passwords and other personal information unless you initiate contact with a person or company you know and trust.
- Don't carry around more checks, credit cards and other bank items than you really need. Don't carry your social security number in your wallet, and be sure to pick passwords and PINs (Personal Identification Numbers) that will be tough for someone to figure out. Don't write your social security number on your check.
- Protect your incoming and outgoing mail, especially envelopes that may contain checks, credit card applications or other information valuable to a fraud artist. Deposit outgoing mail, especially something containing personal financial information in the official Post Office collection boxes, hand it to the mail carrier, or take it to the local post office instead of leaving it in your home mailbox.
- Before discarding credit card applications, cancelled checks, bank statements or other information useful to an identity thief, tear them up as best you can, preferably by using a paper shredder.
- Safely store extra checks, credit cards and documents that list your social security number.
- Contact your financial institution immediately if you lose your checkbook or bank credit card, if there is a discrepancy in your records, or if you notice something suspicious such as a missing payment or unauthorized withdrawals.
- If your credit card bill doesn't arrive on time, contact your credit card company. This could be a sign that someone has stolen your account information, changed your address and is making large charges in your name from another location.
- Once a year check your credit record with the three major credit bureaus. To order your report, call the following toll-free numbers; Equifax: 800-685-1111 Experian: 888-397-3742 Trans Union: 800-888-4213
If you are a victim of identity theft, take the following steps:
- Contact the fraud departments of each of the three major credit bureaus and request a "fraud alert" be placed on your file and no new credit be granted without your approval.
- Close any accounts that have been fraudulently accessed or opened.
- File a local police report and get a copy of the report to your bank, credit card company or others that may need proof of the crime.
The Federal Trade Commission (FTC) is the federal clearinghouse for complaints by victims of identity theft. Although the FTC does not have the authority to bring criminal cases, it can assist victims by providing information to help resolve problems that can result from identity theft. Should you find yourself a victim of identity theft, you can file a complaint with the FTC by calling toll-free 1-877-ID-THEFT (438-4338).
Most of us assume that thieves are only interested in the cash in our wallet or purse, when in many cases, they are more interested in access to sensitive information that can be used to steal our identity. Use caution and don't be the next victim of identity theft or other financial fraud.