ID Theft
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Protecting Against ID Theft
ID Theft can ruin your financial life and be extremely difficult to fix. Billions of dollars are stolen via identity theft, and billions spent to recover from it, every year. The Federal Trade Commission is the organization whose job it is to help consumers and businesses deal with Identity Theft. The FTC divides the process of protecting and dealing with ID Theft into three steps: Deter, Detect, and Defend.
Deter
Deterring people from stealing your identity is the best protection you have against ID Theft. Follow these steps to help safeguard your personal information:
- Shred paperwork with personal information and financial documents before you discard them.
- Don’t carry your Social Security card in your wallet or write your Social Security number on a check. Give it out only if absolutely necessary; you can always ask to use another identifier.
- Don’t give out personal information on the phone, through the mail, or over the Internet unless you are sure who you are dealing with.
- Never click on links sent in unsolicited emails; instead, type in a web address you know.
- Don’t use obvious passwords. Your mother’s maiden name, or the last four digits of your Social Security number – all are obvious passwords.
- Keep your personal information in a secure place at home, especially if you have roommates, employ outside help, or are having work done in your house.
You can watch a video on deterring ID Theft here.
Detect
If someone has had their identity stolen, it can be difficult for them to detect if they are not used to inspecting their financial records regularly. In order to detect whether or not you have been the victim of Identity Theft,
Be alert for:
- Mail or bills that don't arrive or credit denials that should not occur.
Inspect your Credit Report
- Credit reports contain information about you, including what accounts you have and your bill paying history. The law entitles you to one free credit report from each credit repository - Equifax, Experian, and TransUnion. Ask for them and inspect your reports diligently. The only authorized site to obtain your free reports is www.AnnualCreditReport.com.
You can watch a video on detecting ID Theft here.
Defend
Defending against and ID Theft occurrence is two-fold. You must:
Place a fraud alert on your credit reports. This tells creditors to follow certain procedures before they open new accounts in your name or make certain changes to your existing accounts.
- The 3 consumer reporting companies have toll-free numbers for placing an initial 90-day fraud alert; a call to one company is sufficient.
- It entitles you to free copies of your credit reports. Look for inquiries from companies you haven’t contacted, accounts you didn’t open, and debts on your accounts that you can’t explain.
Close your accounts. Call the security or fraud departments of each company where an account was opened or changed without your okay. Follow up in writing, with copies of supporting documents.
- Use the ID Theft Affidavit at ftc.gov/idtheft to support your written statement.
- Ask for written verification that the disputed account has been closed and the fraudulent debts discharged.
The FTC is the federal consumer protection agency that helps law enforcement officials in their investigations.
You can watch a video on deterring ID Theft here.
Additional Resources
ID Theft is a serious and growing issue. The Concordia Public Safety office, in conjunction with the ITS Help Desk, has put together a presentation on ID Theft that covers what to do if you believe your identity has been stolen. You can download it here. The FTC has a booklet that includes all the necessary forms for combatting ID theft once it has occurred. You can obtain that booklet in pdf form here. For more information, go to The FTC's ID Theft Website.
