Identity Theft Prevention Tips
What is Identity Theft?
Under the Fair and Accurate Credit Transactions Act of 2003, Identity Theft means "a fraud committed or attempted using the identifying information of another person without authority."
In 2004, victims spent nearly 250 million hours trying to sort out bogus accounts and set their credit records straight. Bogus accounts form when criminals create new accounts under an unknowing person's name.
Identity thieves look for a person's name, address, date of birth, social security number, driver's license number, mother's maiden name, account numbers, card expiration dates, internet passwords, personal identification numbers, user IDs for online account access, security codes from back of credit and debit cards and other identifying information.
To check your credit, contact AnnualCreditReport.com for a free credit report once every 12 months from each of the three nationwide consumer reporting agencies, Equifax, Experian and TransUnion.
How to protect against it
- Monitor your online financial accounts frequently
- Check your credit report at least once a year
- Promptly review your other bank statements, credit card statements and other bills
- Quickly call the financial institution or company if you see anything suspicious and follow up in writing
- Sign your new credit and debit cards promptly
- Do not keep information that you don't need in your purse or wallet
- Do not carry around your Social Security number
- Shred personal records to get rid of them as effectively as possible.
- Do not leave a lot of financial information just lying around your house for prying eyes to see.
- Do not leave credit or debit card receipts at the ATM, gas pump or anywhere else
- Alert law enforcement if you think you've become a victim of identity theft
Warning signs
- A financial institution may call if a transaction seems out of the ordinary.
- You may see unauthorized charges on a credit card or checking account statement.
- You may see an account that you did not open on your credit report.
- You may get a call from a collection agency asking why you have not paid a bill.
Remember to ask questions before giving out your Social Security number. Just because a merchant or someone else says he or she needs it, doesn't mean you have to give it to them. Ask why it is needed and how it will be protected. Remember, financial institutions will need your Social Security number for tax reporting and other identifying purposes.
IRS tax examiners will work with you and other agencies such as the Social Security Administration to help resolve problems. Call 1-877-777-4778 or log on to IRS.gov.
Identity theft learning guide (.pdf)
Source: U.S. Department of the Treasury
