Identity Theft Is On The Rise
What you can do to protect yourself.

It’s happening with ever increasing regularity. You get a statement from your credit card company with charges you did not make, from a country you have never visited or ordered from. Your heart stops for a beat or two and then you begin to panic. What do you do? How do you get this fixed? How bad is it and how much is this going to cost me? Or you get a call from a collection agency demanding that you pay past-due invoices for goods you never purchased. Trying to untangle this mess is not going to be easy, and it can take up to ten years to clear your credit!

First, you are not alone. According to the FTC, in 2005 over eight million people in the U.S. were victims of identity theft, and the number is rising. In 2006 the numbers rose to over nine million. That’s 9,000,000 just in the U.S.! Even if you don’t think this can happen to you it cannot hurt for you to read this and be aware of how your identity can be stolen.

Below is information on how you can greatly reduce your chances of being a statistic.

1.  Steps you can take to reduce your chance of identity theft.

A.  Do not ever give your SSN, bank number, or credit card number to anybody over the phone, the internet, or by mail. If you receive a call from somebody (and a foreign accent is a dead giveaway) who says they are from your bank and that your account has been frozen due to illegal or fraudulent activity – take notice! This person is going to ask you for your SSN or your bank account information. They are counting on your ignorance and fear to gain this information. Think. If this really was your bank don’t you think they would already know your account number and have your SSN? They do. These criminals don’t, and they won’t if you are prepared. Don’t fall for the ‘you have won a million dollar’ scam either. They ask for the same information and they do it by phone, email and by mail.

B.  Shred everything. If it has your name, address, phone number, account information, charges, or anything else that could help identify you it needs to be shredded. Every piece of information you throw into your garbage is a gold mine for identity thieves. Shredders are cheap compared to what it could cost you, in time and money, to clear your credit.

C.  Information stolen from your mailbox. You would not believe the amount of information that is stolen every year from mailboxes. Think of all of the statements and bills you get. Not just from your checking or savings account, but your credit and debit cards, your mortgage or rent, loans, credit card applications, and bills from your utilities, physicians, or car loans. What about that box of checks you just ordered? Get rid of as much paper as you can. Sign up for online statements from your bank or credit institution if possible. Secure your mail box and pay attention if you did not receive an important document! Get rid of junk mail, and that includes all of those ‘you are preapproved’ letters from car, finance and credit card companies. At the bottom is the information from the Direct marketing Association on how to be removed from all sorts of mailing lists. Want to beat them at their own game? If you receive any of these preapproved letters, put the following statement on the form and send it back to them. Make sure that you don’t cover the address on the mailer.

Please remove this name and/or address from your mailing lists. Please do not sell or promote.

I printed out a page of labels with this statement on it and just attach it to the form. I circle my name and address, cross out the application and put everything back in their return envelope. Do not sign the form! Pretty soon things start dwindling down.

D.  Make sure that nobody is standing behind you or looking over your shoulder when using an ATM or paying with a credit card. Cover the punch pad so that nobody can see you entering in your number.

E.  Make sure that when you pay for something that your get your card back. One of the tricks of the trade is to give you back somebody else’s card!

F.  Information given to a con from a fraudulent phone call, or email, stating that your account has been compromised and getting you to give them your information.

a.   Never give anybody your information over the phone. These thieves use scare tactics guaranteed to send the general public into a panic. They will claim to be from a collection agency, from your bank, or they will say that you have won a mega sweepstakes. All they need to fix this problem, or get you your winnings, is your SSN and/or your banking information. Don’t do it. If your bank has a problem they will contact you and tell you that you have to come in to their facility! The sweepstakes con has been going on for decades, and it prays on the elderly and the uninformed, and if a collection agency has a real case against you they will already know everything about you, your family, and in some cases, your neighbors.

b.   Never, ever, respond to and email that scares you into believing they are from your bank, eBay, or any other institution. Emails that look like they are from your bank but send you to a fraudulent site are the single biggest problem today. These emails are called "phishing," as in fishing for your information. There is a very simple way to find out if there really is a problem. Go to your bank’s website – do not click on the link in the email! If there really was a problem your bank would send you an email telling you to go to their website and log into your account. If you are unsure what the website is just call your bank. Trust me, they would rather you called them about this then to have to try to recoup the money they will be out if you give out this information to crooks. Financial institutions always tell you that they will never ask for your personal information in an email. For more on phishing, go to http://www.antiphishing.org .

G.  Workplace information theft. We love our human resource department, and we have some of the best people around looking after us here. We are very fortunate because theft of employee information is one of the fastest growing problems out there. Everything from outright theft, to sloppy record disposal compounds the problem. we have all heard horror stories about the theft of laptops with thousands of personnel records on them, or bills with customer information showing in dumpsters. There are several cases where an employee found a way to steal confidential information and sold it on the black market. It is the responsibility of your employer to protect your personnel information. It is your responsibility to help them in any way possible. If you think there is a problem, or you see something happening that has the potential to divulge your information, say something!

H.  Do not carry your SSN in your wallet, and don’t put it on your checks! In addition, make sure that the people asking for your SSN really need it. For instance, if you are taking a course teaching you how to play Bridge, they don’t need your SSN. If you have reason to suspect that your SSN is being used by another person you must report it!

I.  Only carry the minimum amount of credit and debit cards you need. Take a look at your wallet right now. How many credit or debit cards are you carrying in there? Do you really need them all of the time? If you don’t, then put them someplace safe, or, better yet, cancel them!

J.  Never let your credit card out of your site. Last year there was a major theft ring uncovered in the Lowcountry where the wait staff were running credit cards through a second machine, called a skimmer, which captured the card’s information. The year before a large restaurant chain was also busted for the same thing. The card numbers were then sold. Bank accounts were drained, and many people had thousands of dollars worth of goods they did not purchase show up on their accounts. Pay cash if you can.

K.  If you have to pay by card use your credit card. It is usually easier to recoup your money when you use a credit card then if you use a debit card. You can actually lose all of the money in your account if your debit card is stolen. In many cases the bank does not have to help you recover fraudulent withdrawals from your debit card. With credit cards, if you report it fast enough, you may only be liable for the first $50.00.

L.  Make a copy of all credit and debit cards and make sure you can read the phone number to call if they are lost or stolen. While you are at it, make a copy of your driver’s license and any other important card. Then gather up the numbers to your banking institution and any other financial institution you do business with. Get the toll-free number too.

M.  If you wallet or purse is stolen or lost call your bank immediately! Then call your credit card companies, then the police. In that order! After that you need to contact the credit bureaus. (See 3C below.)

N.  Close old accounts. See #2 below for information on obtaining free copies of your credit reports.

O.  Never make your PIN number the last four of your SSN, and don’t carry your PIN in your wallet. The last four numbers of your SSN are unique to you. If these people can get that they can figure everything else out. As an aside, did you know that the first three numbers of your SSN identifies your birth state, or the state where you first obtained a SSN? Protect your SSN!

2.  Simple and free things you can do to check your credit.

A.  South Carolina residents are now eligible to receive FREE copies of their credit reports from the three major credit reporting companies: TransUnion, Experian, and Equifax. This information may be requested through one central website:

Free Yearly Credit Reports
https://www.annualcreditreport.com/cra/index.jsp

Once you give them some information, you will be directed to choose what reports you want. You will have to prove to each reporting company that you are who you say you are. Be prepared to give some account numbers. I found that you will have to have some interesting information to get through to TransUnion. I would suggest you have your major account numbers with you (I used my current mortgage loan number) before you access their site. These are secure sites and your information will not be sold or promoted.

You may request one report from each company once a year. These reports may be spread out over the year, or requested all at once. I order one every four months from one of the three. That way I can check on them every quarter.

B.  Once you have your report look and see if there are any old credit cards or other accounts that you can close out. You’ll be surprised at how many accounts you have out there.

C.  If you see any mistakes fix them!

3.  What to do if you suspect that you are a victim of identity theft. In order of importance:

A.  Call your bank.
B.  Call your credit card company.
C.Call the authorities. If you have to, insist that they file a report and get the report number.
D.  Notify the credit bureaus listed above. Each one has a Fraud Alert they can place on your accounts to ensure that your information cannot be accessed. A fraud alert puts certain safeguards on your account that will make it very difficult for anybody to get credit in your name. The initial fraud alert is active for 90 days. You can also get an extended one that stays active for seven years. They will also place a copy of the police report in your file.  “If you ask for an extended alert, you will have to provide an identity theft report. An identity theft report includes a copy of a report you have filed with a federal, state, or local law enforcement agency. For more detailed information about the identity theft report, visit www.consumer.gov/idtheft.”

Equifax: 1-800-525-6285; 1-877-576-5734; www.equifax.com
Experian (formerly TRW): 1-888-397-3742; www.experian.com/fraud
Trans Union: 1-800-680-7289; www.transunion.com

E.  Make sure you get the name and title of every person you speak with at your bank and credit card companies.

4.  Those identity theft prevention businesses.

Let’s talk frankly about these businesses. They get their money by promising you that if you sign up with them that you will never be a victim of identity theft. In my humble opinion that is a lot of baloney. Nobody can stop identity theft. The other side of that is that they promise that if you are the victim of identity theft that they will take care of everything and you will not have to pay a dime. Didn’t they just promise you would never be the victim of identity theft? Save your money. If you follow the guidelines above you will greatly reduce your chances of having your information compromised.

If there is a way, thieves will figure it out and use it to steal your information. Make it as hard for them as possible. Remember, these people are too lazy to do an honest day’s work. If you make it as difficult as you possibly can, they will move on to an easier mark.

Direct Marketing Association’s Mail Preference Service

If you want off as many national mailing lists as possible, your first step is to contact the Direct Marketing Association's (DMA) Mail Preference Service (MPS). You must re-register after five years. Yes, it cost’s a dollar.

Register for the Mail Preference Service by mail. Send a letter plus a $1 check or money order to:
Mail Preference Service
Direct Marketing Association
PO Box 643
Carmel, NY 10512

Click here for our simple mail-in form.

When you register, your name and address are placed on a Do Not Mail file which is updated monthly and distributed to DMA members quarterly. DMA members are required to update their lists at least quarterly, and some do it monthly. Businesses who are not members of the DMA also take advantage of this do not Do Not Mail list, so registering with the DMA will reduce much of your junk mail.

Register online. You may also sign up online at the DMA's website. There is no fee for online registration.
Visit: http://www.dmaconsumers.org/cgi/offmailinglist. The DMA says this option is quicker than by postal mail.
For more information on removing your name and address from other types of junk mail, flyers and catalog’s visit:  Privacy Rights Clearinghouse:  http://www.privacyrights.org/fs/fs4-junk.htm#MPS

Biography
The Identity Theft Resource Center;  http://www.idtheftcenter.org
Identity Theft And Your Social Security Number;http://www.ssa.gov/pubs/10064.html
Free Credit Reports;http://www.annualcreditreport.com
10 ways to stop identity theft cold;http://moneycentral.msn.com/content/Banking/FinancialPrivacy/P33715.asp
The FTC’s Identity Theft Site; http://www.ftc.gov/bcp/edu/microsites/idtheft/
Identity Theft And Your Social Security Number; http://www.ssa.gov/pubs/10064.html
The Federal Trade Commissions Identity Theft Site:http://www.ftc.gov/bcp/edu/microsites/idtheft//