Avoiding Identity Theft

01/04/07
Last year more than 685,000 complaints of fraud/identity theft were reported in the U.S., resulting in the total theft of more than $680 million! Not surprisingly, identity theft is the fastest-growing white-collar crime in the United States.
Most victims don’t realize the many out-of-pocket expenses they can incur to remedy credit problems caused by identity theft. Collectively, those costs are a staggering $13 million just for legal and notary fees. This doesn’t take into account lost wages, certified mail costs, or long-distance phone calls. And lastly, there’s no price tag you can put on the stress involved in getting back your good credit and good name.

While you can’t prevent identity theft, there are steps you can take to reduce your risk. A small effort on your part to change key habits could keep you from becoming a victim.

What Identity Thieves Want:
  • Your Social Security Number (SSN)
  • Your Bank Account Information
  • Your Date of Birth
  • Your Drivers License
  • Your Name, Address, and Phone Number
  • Your Credit Card Information
  • Your Mothers Maiden Name
  • Your Checks
  • Your Passwords and PIN’s
Simple Steps to Avoid Identity Theft:
  • Do not carry your Social Security card in your purse or wallet.
  • Never give this number over the phone until you have verified the other party’s authenticity.
  • Monitor your bank accounts on a regular basis.
  • Shred anything that contains your name, address or other sensitive data.
  • Never let merchants write your SSN number on your checks.
  • Pick up checks at your bank versus having them mailed to you.
  • Minimize the number of credit cards you carry and use.
  • Review your credit card statements on a monthly basis.
  • Check your credit reports as frequently as possible, at least twice per year.
  • Do not toss credit card receipts into a public trash container.
  • Change your passwords and PIN’s thru a combination of letters and numbers every so often.
  • Use common sense when ever giving out personal information and verify the authenticity of the party asking for it.