How to Protect Yourself from Identity Thieves.
By Dr. John Herrington
At a time when your good name and credit is used to judge
you as never before, from whether you'll get that next job
or house, or the rates you'll pay for insurance policies
and loans, your name and credit have never been more at
risk.
According to statistics from the FTC identity theft survey report, identity theft is the fastest growing white-collar crime in America today. 1 in 8 people reported that they were victims of some form of identity theft in the last five years. Almost 10 million of those were in the last year alone.
Has it happened to you, or someone you know . . . yet?
Let's face it. Criminals have the advantage when it comes
to identity theft. It's easy to steal your personal information. But it seems that it's just as easy for them to get away with using it. And statistics show they can get away with it over and over again.
Don't think you're at risk? That you're protected? Think again.
> Do you hand your credit card to servers at restaurants?
> Do you sign your credit cards?
> Do you supply personal information over the internet?
> Do you keep your Social Security number in your wallet
or purse?
> Do you leave mail at your home or business for the
postal carrier to collect?
> Do you shred unwanted mail with personal information?
> What kinds of personal information can be found in your
trash?
The truth is, the average consumer is the most common
victim. All you need is a social security number and
minimally acceptable credit worthiness to be victimized.
Early detection is important, but watching our finances
may not be enough to prevent identity theft. The bigger problem is when someone uses your personal information to establish new credit in your name.
According to the FTC, in the 12 months ending in 2003,
3.23 million consumers discovered that new accounts had
been opened. And other frauds like renting an apartment
or home, obtaining medical care, or gaining employment had
been committed in their name.
Would you know what to do if it happened to you?
> Call your bank and/or credit card company
> Contact the three major credit repositories
> Go through the helpful but extensive steps recommended
by the Federal Trade Commission in its 30-page consumer
support publication
> Fill out and submit the affidavit form supplied by the
FTC to dispute new, unauthorized accounts
> Spend countless hours and an average of $1,800 in
out-of-pocket expenses (Federal Trade Commission) in
your efforts to resolve the many problems caused by
identity thieves.
"People whose identities have been stolen can spend months
or years-and thousands of dollars-cleaning up the mess the thieves have made of their good name and credit record."
(Federal Trade Commission: When Bad Things Happen to Your
Good Name, September 2002
A professional thief can assume your identity in just a
few hours, but it can take years for you to restore your
credit standing. If you are thinking, "It'll never happen
to me." Think again.
While most people are familiar with identity theft, most businessmen and women never think about it happening to them, at least on a professional level. Consider this: if a criminal can learn your business checking account number or the number of your company credit card, they can steal far more from your business than if they had simply knocked down the door and carted off your desk.
What are some steps you can take to further reduce your
risk of becoming a victim of identity theft?
> Never give out your first name, last name, business name,
email address, account passwords, credit card numbers,
bank account information, PIN number, social security
number, or driver's license number unless you can be
sure it is secure.
> Change your online account passwords every 30 days.
(Believe it or not, a hacker who steals your personal
information can guess your online account passwords in
about two minutes. If your Charles Schwab online account
password is your birthday or the name of your first born
or family pet, count on a hacker cracking that code
faster than you can say 'Bill Gates.')
> Never provide personal information in response to an
email or telephone call. Just because someone calls and
says they are from Dunn & Bradstreet and need to confirm
your business information does not mean they are really
from Dunn & Bradstreet.
> Never give your business or personal credit card number
over the phone to place an order with someone who has
called you unsolicited. If you are interested in what
they are selling get their number, check out their
company, then call them back to place the order.
You must be an informed consumer. This article has
provided only a glimpse into the world, or industry, of
identity theft. We are busy people, who don't think
about the possibility of identity theft, until we are
faced with it. You must think about it. Don't wait until
it happens to you.
For more complete information about identity theft
protection and identity restoration, go to
http://www.LivingSmartNews.com
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Dr. John Herrington is editor of "Living Smart News."
mailto:livingsmartnews@usa.com
More information about Identity Theft
can be found at http://www.LivingSmartNews.com.