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Identity Theft: How to Protect Yourself

By Chemain Evans

Identity theft encompasses a wide range of deception, from a stolen credit card used to charge purchases to an existing account, to stolen information used to impersonate the victim, open new accounts (even ones for utilities), and rack up thousands of dollars in debt.

With over 500,000 new cases each year (and some say upwards of 900,000), identity theft is one of the fasting growing crimes in America. In many states it isn't even illegal, or hardly punishable if it is. Often the perpetrator goes uncaught and unpunished. Worse still is that it takes on average 12 months for the victim to realize he is a victim and by then it may nearly impossible to climb back out of the black hole of damaged credit, costing hundreds of hours and hundreds of dollars to try to fix it.

Sadly, since much of this goes unpunished, companies often write off the bad debt and then charge you and me higher interest rates and fees to cover their losses. So we all are indirect victims of identity theft. The more vigilant we become, the better off we will all be.

What can you do to protect yourself from becoming a victim of identity theft? There is no absolute guarantee, but the more precautions you put in place, the harder it will be for someone to steal your information and use it illegally. What follow below are some ideas that you can use to start protecting yourself now.

1. Check your credit reports annually.

This is your first and foremost line of defense. Contact the three major credit reporting agencies www.equifax.com, www.experian.com, www.transunion.com, every year to obtain a copy of your credit report. Some websites also offer a

3-in-1 report. Go through them carefully, looking for any inaccuracies. Report any problems immediately. Consider asking them to require your permission to issue new credit lines.

2. Protect your Social Security number.

Many companies ask for your Social Security number (SSN) to use for recordkeeping. Ask if you can substitute a different number. This is especially true of driver's licenses and health insurance cards. Never give out your SSN to anyone over the phone or internet if you did not initiate the contact. Don't carry your Social Security card with you and don't have your SSN preprinted on your checks (or your phone number either).

3. Protect passwords and PINs.

Always protect your passwords and PINs from being seen by others, especially at ATMs. Don't write them down and carry them with you. Do not store passwords on your computer's hard drive. If you need to write them down, store them

somewhere else. Passwords should be hard to discover (bad choices: mother's maiden name, birthdates, last 4 digits of SSN or phone number, or a series of consecutive numbers). When possible use a mix of upper- and lower-case letters, numbers, and symbols.

4. Know your billing cycles.

Know when to expect your bills. If any of them is late, call the company or agency and check on its status. A late/missing bill could mean that someone has stolen your

information and changed the billing address, leaving you unaware of the charges that may be racking up.

5. Shred everything with your information on it.

All those credit card applications you receive in the mail

and throw away are an open invitation for someone to open an

account in your name. Invest in a good cross-cut shredder

and shred all documents with any financial information on

them, including credit card receipts. Then put the remnants

in the yuckiest, ickiest trash you've got to discourage

dumpster-divers from stealing them and putting them back

together.

6. Make the post office your ally.

Deposit outgoing mail at your local post office or in a locked post office drop box. Thieves actually patrol neighbourhoods, stealing mail out of mailboxes. A little acid

wash, and voila!, they change the amount and the person being paid. Don't give them the chance! If you're going out of town, have the post office put a hold on your mail.

Consider getting a post office box or ask your post office about getting a key-operated community mailbox for your neighbourhood.

7. Technology doesn't beat everything.

Don't give out personal information over cellular/mobile/wireless phones, or cordless phones. (This includes telephone banking.) Their radio frequencies can be

easily intercepted, overheard, and hacked.

Surfing the internet puts you at risk from hackers breaking into your system; consider purchasing a "firewall" program to protect your computer from outside access. When divulging personal information on the internet (for example, when making a purchase) always look for privacy policies and the little "lock" symbol that indicates your information is secure.

Don't use your email address for user IDs on websites; there are "robots" that specifically search for this on sites like eBay to try and trick you into divulging your personal information. You may receive an official-looking email asking you to "verify" or "update" your information. Remember that anyone who already has your information will not ask you to verify it. Always be suspicious of such tactics. The same goes for people who call you and claim to be somebody like a bill collector, government agent, utility worker, etc. If in doubt, call the company they say they represent.

If you use a laptop computer use a strong password (combination of upper/lower-case letters, numbers, symbols); don't use automatic login; always log off when finished; and don't store financial information on it unless absolutely necessary.

When disposing of your personal computer, deleting your personal information usually isn't enough. Use a "wipe" utility program to render files unrecoverable.

8. Be aware of the opportunities to steal your information.

Think of all the places that store your personal information, such as the offices of doctors, dentists, accountants, loan officers, health insurance, schools, courts, etc. Ask them how they protect your information. Request that they shred anything with personal information on it when disposing of it.

Keep your wallet or purse in a safe place at work; not all of your fellow co-workers are trustworthy. Be aware of the "Good Samaritan" scheme where your missing wallet is returned (after one of your several credit cards is removed; you have so many that you probably won't notice!). Only carry a minimum number of cards and identification with you.

9. If desired, subscribe to a credit monitoring service.

If you're really worried about identity theft, consider subscribing to a credit monitoring service. They will regularly notify you of your credit status and anything

suspicious that might be going on.

10. Make a list and check it twice.

Make list of all your credit card numbers, banking account numbers, and driver's license number with their customer service numbers and keep them in a safe place. That way you'll have a starting place if something should happen to

you.

Remember, the more vigilant we all are, the more protected we all are.

************************************************************

Chemain Evans is a quality control specialist for Simple Joe,

Inc., makers of the popular Simple Joe's Expense Tracker PC

software. Expense Tracker is a quick and simple way to keep

track of your expenses and stay within your budget. Expense

Tracker (http://www.simplejoe.com/expensetracker/index2.htm)

is ideal for tracking personal, business, home and club

expenses.

Recovering from Identity Theft

by Lyle Evans

·
Identity theft is on the rise in America. Con artists want something for nothing. Unfortunately many innocent people get hurt because of the fraudulent activities of others. Restoring your good name and credit can take much longer to repair than it took to be destroy. The worst part about the whole thing is that you are the one responsible for restoring your identity even though you are not the one who used your name fraudulently. We will discuss some of the simple things you can do to get your identity on the road to recovery and simple things you can do to keep it there.

There are varying degrees of identity theft. For example, if someone uses your credit card once or twice fraudulently and you find out and put a stop to it , you may not have such a hard time repairing the damage. On the other hand if someone gets all your information, your Social Security Number, your birthday and other pertinent information, he can set up false credit card accounts and run up large bills in a hurry.

Con artists can use your information over the phone and internet to get phone cards, etc., and to purchase just about anything as long as they have a credit card in your name. If this goes on for an extended period of time it can be very serious to your credit, and large fraudulent expenses may be incurred. The size of the fraudulent charges and the length of time the theft has gone unnoticed can make it very difficult to clean up your credit and identity. Many lending companies will take responsibility if fraudulent activities are reported quickly.

If the fraudulent activity goes on for a long period of time with large expenses incurred, lending companies make it much more difficult to clear your record and name. There are many questions and hoops these institutions will require you to go through.

When you find yourself a victim of fraudulent activity there are some things you should do immediately. Call the lending company and put a stop to the fraudulent activity as soon as you find out. Depending on the severity of the fraud, you may have to have your credit company cancel your current cards and reissue new ones to you. If your name and identity have been used fraudulently on a wide scale, you will need to contact every company that you have done business with.

This can be large task in itself. Make them aware of what is going on. If something looks suspicious to them, have them contact you. In cases where your Social Security Number has been used fraudulently, contact the government Social Security office. (The government web site http://www.consumer.gov/idtheft also provides a wealth of information on this topic.) They can help you get things straightened out. They deal with this far too often and know what to do in order to help you clean up your credit and Social Security Number. You may also want to contact state government web sites, where you will find further agencies and information to help you.

It is also a good idea to keep good documentation when you first find out about the fraudulent activity. Begin by recording the names of the people you talk to at the different institutions you communicate with. By keeping a good log and documentation you protect yourself and can back up what has happened if needed. Law enforcement may also find your documented information useful in prosecuting the individual or individuals responsible.

There are a number of things you can do to protect your identity once you have everything cleared up (or to prevent it in the first place):

Mail payments directly at the post office; never leave them in the mail box.

· Refuse to give personal information to people who ask for it in surveys.

· Be very careful giving your information over the internet; be sure you know the site is secure and reputable.

· If you normally carry your Social Security card in your wallet, take it out and put it in a safe place. If your wallet were to be lost with that card in it, it would be an open door for thieves.

· Dispose of personal information by shredding or burning.

· Be careful when using credit or debit cards that people are not close enough to get your personal information (such as at an ATM or a terminal at a checkout stand, etc.). Be aware of the new camera cell phones that can visually capture your information from a short distance away. Block visual access with your body or your hand, etc.

· If you can afford it, hire a reputable credit watch company to watch your credit and notify you of any suspicious activity.

· Finally, do your best to protect information and be cautious.

Remember it will take a long time to get your credit and identity cleaned up. Be patient in your rebuilding efforts. If your situation is dire, you may need to seek professional help. Do your homework before going with any identity restoration consulting firm. Good Luck.

Lyle Evans is a quality control specialist for Simple Joe,

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