Identity Theft

What It Is

Identity theft occurs when an individual appropriates another's name, address, Social Security number, or other identifying information with the intent to commit fraud.

How to Prevent It

The best way to combat identify theft is to prevent it. The following are some relatively simple, cost-effective steps to help you fight this invasive crime:

• Shred all personal documents (i.e., credit card offers, credit card receipts) before discarding them.
• Request copies of your credit reports from all three major credit bureaus once a year and review them carefully.
• Secure your Social Security card – but not on your person or in your wallet.
• Only carry necessary credit cards, and make sure they are all signed. Keep a photocopy of the front and back of all cards in case they must be reported lost or stolen.
• Secure your PINs (personal identification numbers) – but not on your person or in your wallet.
• Check your credit card statements thoroughly and contact issuers immediately if an expected statement is not received.
• Avoid leaving outbound mail in an open or unlocked mailbox where it can easily be taken.
• When creating passwords and PINs, avoid the use of the last four digits of Social Security numbers, birth dates, middle name, pet's name, consecutive numbers, or anything else that could easily be discovered by thieves.
• Remove your name from the marketing lists of the three credit reporting bureaus: Equifax, Experian (formerly TRW) and Trans Union. This will limit the number of pre-approved offers of credit you are sent. For more information or to remove your name, visit the OptOutPrescreen.com website or call (888) 567-8688.

If It Happens to You

In the unfortunate event that you are a victim of identity theft, here are some steps you can take:

• Keep a log of all conversations. It is extremely important to document all contact names, dates, times, and phone numbers.
• List any money paid out for mailings, stamps, certified mail, or other expenses.
• Confirm conversations in writing.
• Send correspondence by certified mail, return receipt requested. The number one excuse used by companies to deny any responsibility is, "We never received it."
• Keep copies of everything pertaining to the case.
• Contact the fraud division of the three major credit-reporting agencies. The agencies will provide free copies of credit reports to victims to review and dispute any contents:
  • Equifax – (888) 766-0008
  • Experian – (888) 397-3742
  • Trans Union – (800) 680-7289
• Request that the three major credit-reporting agencies place a "fraud alert" on your file. This alert will warn lenders to be especially careful in authenticating the identity of anyone claiming to be the victim, and to contact the victim before processing any request for credit.
• File a report with the local police department. Be sure to get the report number and a copy of the report.
• Contact each credit grantor who has allowed a fraudulent account, and tell them you did not open that account. Have them close the account, and ask for written verification that it has been closed and will be removed from your credit file. If you open new accounts, a unique password should be established for identification purposes.
• Call the Federal Trade Commission Identity Theft Toll-Free Hotline at 877-IDTHEFT (877-438-4338). This is the central point of contact within the federal government for reporting incidents of identity theft.
• Contact your financial institution's fraud department to make them aware.
• Call the Social Security Administration, Office of the Inspector General's Fraud Hotline at (800) 269-0271 or visit them online.

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