Protecting yourself from identify theft

[Jeff]

This information is slanted towards people in the U.S., but still worth sharing. If you have information or suggestions for other countries, add them as replies.

What is identity theft?
The 1990s spawned a new type of crook called the identity thief. They profit from your everyday transactions. Each transaction uses your personal information. Identity thieves obtain a portion of your personal information and use it to commit fraud or theft without your knowledge. The most widespread example is someone else using your personal information to open a credit card account in your name.

How widespread is it?
Losses are in the billions. Legislation has been slow in coming to counter identity theft, so criminals seldom serve time when convicted. Techniques to capture these criminals are in early stages of development, so some clever criminals escape justice. Credit card companies pass on losses to consumers or write them off, so they're not encouraged to bring criminals to justice. Privacy laws that protect consumers also protect criminals, so moving quickly on identity thieves is often hampered by the same laws that protect honest citizens. Consumers must use every means to protect themselves.

If I'm victimized by identity thieves, do I have to pay for it?
In some cases, you might, but usually not. In the U.S., prompt reporting of fraud usually limits your ATM or credit card liability to $50. However, it may require months of hassling with credit bureaus and other agencies and collectors to straighten out your credit report.

How can I protect myself?
While you probably can't protect yourself totally, you can minimize your risk. Through wise and cautious management of your personal information, and awareness of the issue, you can help reduce your vulnerability.

• When you must reveal personal information, know how it will be used and if it will be shared. Determine if it will be kept confidential.
• Pay attention to billing cycles. Identity thieves steal bills, take over account identity and change addresses to cover their tracks.
• Guard your mail from theft. Use post office collection boxes. Remove mail promptly from your unlocked mailbox.
• Put passwords on credit card, bank and phone accounts. Don't use easily obtainable information as passwords.
• Minimize identification information that you carry with you.
• Do not give out personal information on the phone, through the mail or over the Internet until you know who you're dealing with.
• Keep items with personal information in a secure place. Tear or shred charge receipts, copies of credit applications, preapproved credit mailouts, bank checks, bank statements and expired credit cards.
• Find out who has access to your personal information at work and verify that records are secure.
• Give your social security number (SSN) or other personal identification numbers to others only when absolutely necessary.
• Order a copy of your credit report from each of the three major credit reporting agencies every year, and spend some time reviewing it.

What if I'm victimized by identity theft?
First, contact the fraud department of each of the three major credit bureaus. Second, contact the creditors for any accounts that have been tampered with or opened fraudulently. Third, file a report with your local police or the police in the community where the fraud took place.

Other sources of information
Credit Bureaus

• Equifax - www.equifax.com to order a report, call 800-685-1111. To report fraud, call 800-525-6285
• Experian - www.experian.com to order a report, call 888-397-3742. To report fraud, call 888-397-3742.
• TransUnion - www.tuc.com to order a report, call 800-916-8800. To report fraud, call 800-680-7289.
• Call 888-567-8688 to remove your name from prepaid credit mailings.

Direct marketing, email and telemarketing

• To remove your name from many direct mail lists, write: DMA Mail Preference Service, P.O. Box 9008, Farmingdale, NY 11735-9008
• To remove your name from many direct email lists, visit www.e-mps.org
• To avoid many national marketers, send your name, address, and telephone number to: DMA Telephone Preference Service, P.O. Box 9014, Farmingdale, NY 11735-9014
  For more information, visit www.the-dma.org

Other agencies

• For issues involving the U.S. Post Office, visit www.usps.gov/websites/depart/inspect
• For fraudulent U.S. phone charges, visit www.fcc.gov/ccb/enforce/complaints.html
• For SSN concerns, call 800-269-0271
• For U.S. bankruptcy concerns, visit www.usdoj.gov/ust
• For more information on identity theft, visit www.consumer.gov/idtheft
• If your checks are stolen, contact your bank immediately

Jeff Hester
BigBlueBall.com