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How to Prevent Identity Theft - Take Charge

Buffini Newsletter

What is Identity Theft?

Identity theft occurs when someone uses your personal information without your permission to commit fraud or other crimes.

How Do I Avoid It?

According to the Federal Trade Commission  (FTC), as many as 9 million American  have their identities stolen each year.  while it's not always preventable, there are things you can do to help keep the odds in your favor.

* Upon receiving  your credit card and bank statements each month, take a close look to make sure that no unauthorized activities ocurred.

* Call your bank or credit card company if a statement is late.  A missing bill could be an indication that identity theft has occurred  or a thief has recently obtained your information.

* Never give out peronal information over email, the Internet or phone unless you have initiated the contact.  Identity thieves often pose as government officials, representatives from the bank, credit card companies or Internet service providers in order  to con you into revealing your personal information.

* Use intricate passwords for your computer, email and internet accounts.  The best passwords use a combination of numbers, capital and lowercase letters.  Never use something that can be easily guessed, like your maiden name, phone number or birthdate as a password.

* Shred documents, like credit card receipts and insurance forms, that show your personal information before you dispose of them.

* Don't leave outgoing mail in your own mailbox.  It's incredibly easy for identity thieves to target mailboxes and pull bank numbers from checks, sensitive information from bills and a variety of other sensitive information from bills and a variety of other sensitive information.  Instead, deposit mail directly into post office boxes.

* Cancel credit cards that you don't need or use.  When canceling, tell the lender to make a note that the "card was cancelled at the cardholder's request."

* Keep your Social Security card in a safe location - never keep it in your wallet or carry it around with you.  Likewise, carry only the necessary ID and credit cards with you.

* Only give out your Social Security number when it's absolutely necessary.  Ask if you can use a different form of identification instead.

How Do I Recognize It?

Your best defense is to be aware.  When it comes to your financial information, stay alert and watch for these common signs of identity theft:

1.  Bills arrive for a credit card account that you never opened.

2.  Your credit card bills include charges you didn't make.

3.  Be aware of late credit card statements that arrive after the payment due date.

4.  Your bank statements contain unfamiliar transfers or withdrawls.

5.  You've ordered new checks, but they have not arrived.

6.  Lenders deny your request for credit despite previously having good standing.

What do I do if I become a victim?

1. Report It - Contact al three major credit bureaus, listed below and ask them to place a "fraud alert" on your file.  Some services, such as Life Lock, will contact you every time a new line of credit is requested to prevent unauthorized account activity.

2.  Close Accounts - Contact the security departments of the creditors or financial institutions that have been fraudulently accessed or opened.

3. Call the police - File a report with your local police and the police where the fraud took place.  Get a copy of the police report so that you can submit it to your bank or credit card company if they request proof of the crime.

4.  Provide details - File a complaint with the FTC.  They maintain a database of identity theft cases used by law enforcement agencies for investigations.  Your complaint will also help the FTC learn more about identity theft and the problems that victims experience, which will help them better assist people in the future.

After following the procedures above, keep an eye on your accounts to watch for future misuse.  Change your routines to eliminate the security leak.

Top Three Credit Bureaus

Equifax - 1-800-525-6285

www.equifax.com

P.O. Box 740241

Atlanta, GA  30374-0241

Experian - 1-888-3973742                                                          

www.experian.com

P.O. Box 2104

Allen, TX  75013 

TransUnion

1-800-680-7289

www. transunion.com

P.O. Box 2000

Chester PA 19022-2000