How to Prevent Identity Theft - FAQ’s

Below are the answers to some commonly asked questions.

What is identity theft?

An emergent issue in society, identity theft is the series of tasks involving the theft of one’s personal information, such as your name, credit card number, or social security number which in turn is utilized for illegal activity. It is the fastest growing crime in America and it is estimated by the FTC, that approximately 9 million individuals get their identities stolen each year. With more frequent online use, identity theft abuse is expected to grow and impact individuals of all ages.

How do thieves steal an identity?

Identity thieves, especially those who are versed in the undertaking, will make use of advanced methods to obtain desired information. These include:

  1) Dumpster Rummaging is an activity in which thieves delve through trash, looking for personal mailings and documents. Thieves who resort to this method are often less experienced, or need to acquire the information quickly.

  2) Phishing involves a complex deception, usually performed via online communication services. These connections will dispatch malware applications to your system, permitting the perpetrator to access delicate information on your system.

  3) Stealing has been performed for centuries, but has recently been taken to a higher level. A simple wallet theft can give access to a plethora of personal information. Even from such a small acquisition, thieves are given the capability to steal your identity. Identity thieves will also steal mail, which contains financial details.

How can you find out if your identity was stolen?

There are several relatively simple, routine checks that you can do to find out if your identity has been stolen. On a monthly basis, monitor your credit card accounts and bank statement. You will often see unauthorized charges in these statements if someone has stolen your identity. With your identity, thieves will also be able to manage your bank account, gaining access to your funds. In most occasions, they are aware of sources to obtain replica checks and banking cards. Also, check your credit file routinely. This will allow you to view recent activity and open accounts and should help you to limit the damage by catching it early.

Who is responsible for solving identity theft problems?

In reality, it is the responsibility of each Identity Theft victim to produce enough information to prove that their identity has been stolen prior to any action by law enforcement. Mostly due to privacy and confidentiality laws, you must inquire about each suspicious credit card or bank activity, each questionable loan, and each suspicious purchase. Don’t be shy or delay in questioning unusual activity. The sooner you catch potentially suspicious activity, the sooner it can be stopped and you can restore your good name. Also, don’t be surprised if your treated badly. Unlike certain other crimes, many victims find that they have to prove that they're not just "dead beats" not wanting to cover their debts.

Should I buy a service to help protect myself against Identity Theft?

There are several things that you can do on your own to prevent Identity Theft. Consumers are allowed by law to receive one free credit report per year from each of the three credit reporting agencies (Experian, CreditUnion, Equifax). If you want to contact them on your own, this is their contact information:

Equifax
U.S. Consumer Services
Equifax Information Services, LLC.
Phone: 678-795-7971
Email:

Experian
Experian Security Assistance
P.O. Box 72
Allen, TX 75013
Email:

TransUnion
Phone: 1-800-372-8391

It is recommended that you stagger these requests to that you receive a credit report from one of these agencies every four months. However, there are limitations to this and there are other resolution, insurance, and support services available from a service that can assist you should you want further protection and/or don't have the time to watch things on your own.

What is a fraud alert?

A fraud alert is a consumer statement that is added to your credit report requesting that issuer notifies and verifies with you prior to issuing credit. When fraudulent activity is observed on a financial account, a fraud alert is initiated to prevent further obstruction. The alert will secure your account, informing you of transactions which are performed without proper verification. Unfortunately, this can provide you with a false level of comfort because while there is a law that requires issuers to verify your identity, it is all too common that credit issuers do not always follow through and comply.

What is a credit freeze?

By placing a credit freeze on your account, potential creditors are prohibited from accessing your credit history, rejecting any penetration attempts prior to application.

How long can the effects of identity theft last?

It is practically impossible to determine the duration of an identity theft dilemma. Every case will have different specifications, which will all contribute to the extent of related activity. The lengths of the resulting effects rely mainly on several factors of the incident. Primary factors include the type of theft, the repetitions of the incident, the number of persons involved, and the level of financial penetration.

Should I apply for a new Social Security number?

This option should be considered very carefully. The application for a new Social Security number is an extensive process in itself, without considering the various agencies which must be contacted regarding this change. Even with this, you do not receive a new identity, merely a new identifier. Often times, the credit bureaus will combine the information, resulting in suspicion by potential creditors as to your identity issues.

Are children at risk for identity theft?

Anyone can be a victim of identity theft. There are typically two types of victims that fall under this definition: 1. Adults who find that there identities were stolen when they were still children, and, 2. Children who find out about the crime through a relative (child victims). For the child victim category, the parent must act on their behalf. Please refer to [this article] for further information.


Comments


Someone stole my CC no. in Vegas and now I have thousands of dollars in debt. What should I do?

You should contact your credit card company immediately and cancel the card. Also dispute the charges...you will not be liable for any of them

Can someone still your identity by getting access to your name and address alone, or do they need something like a cc# or your social sec.#?

How many people are victims of identity theft each year?

What charges does an identity thief face when caught?

Harry: Cancel your card right away and have a fraud alert placed on your credit file. Also, check your credit report to see if any new accounts have been opened in your name.

Mrlaw32: Stealing your name and address is the first step in stealing your identity because thieves can have your mail rerouted and they can steal bank or credit account info that way. So protect your name and address whenever possible too.

Jane: Between 9 and 10 million people are victimized a year although that number looks as if it will be higher this year.

Suzie: Most identity thieves pay small fines and spend a minimal amount of time in jail if they are caught. The consequences aren’t nearly steep enough, so people are motivated to commit the crime.

On my Experian report it shows 11 or 12 promotional Inquiries.  I never inquired about these.  What is this and should I be worried?

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