Prevent Identity Theft Problems

Identity theft is the biggest white collar crime in America. The damage done during these thefts are huge! The average amount charged in an identity theft is over $92,000. But the damage isn't limited to credit cards. They write out checks from your bank account, they apply for and get approved for new credit cards in your name, and in some cases they even go into your medical records and change vital information. Repairing your identity is a difficult and timely process, full of frustration and stress!

Medical Identity Theft

Someone checks themselves into a hospital in your name. They have a medical procedure done in your name. It gets billed to you. Even more scary, they may have changed some vital information in your medical records, like your blood type!

Criminal Identity Theft

Someone posing as you, commits a crime. When they slip away, who do you think the police are looking for? There are people who have been arrested for crimes they haven't committed!

Financial Identity Theft

Someone can get a hold of your credit card number or your bank account information. They can steal it while you pay for something in a store. They can steal private documents out of your mailbox. They can take old statements out of your garbage.

Social Security Identity Theft

When someone gets a hold of your social security number he can open new credit cards in your name, take out loans, mortgages, and gain access to some of your personal files. Social Security numbers are unfortunately not that hard to steal. If you own property, your social security number can probably be easily obtained online.

Drivers License Identity Theft

If someone obtains a copy of your drivers license, they can use it when they get pulled over, thereby getting you a ticket for something you haven't done. They can also use it to help them commit medical identity theft, since a lot of hospitals require a drivers license as identification.

Truthfully, you can't really make yourself 100% risk free. Criminals can steal your identity pretty easily because of a number of things that are out of your control. It's very easy to get someone's social security number. Thieves can steal mail out of your mailbox. They can get personal information off of personnel files in your workplace. They can access your credit report by posing as an employer or loan officer. Credit card companies are not always careful enough with your privacy. Thieves can take your social security number off of your credit card application in the garbage. Things of that nature are out of your hands. There are a number of ways however, that you can reduce your risk.

- When using a credit or debit card in a store or restaurant, pay careful attention to the person handling it. Some thieves use a small hand held device called a skimmer to quickly swipe the card and later download the information onto their pc. They can then use your credit card to shop online.

- When swiping your card at an ATM machine or in a store, always shield your hand so that nobody can see the number you're punching in. Some thieves look over people's shoulders to get their pin numbers. They may even use their cameras or binoculars.

- Always take your credit card receipts with you. Do not throw them in the public trash. Don't even put them in your shopping bags. Keep them in your wallet.

- Never allow your credit card number to be written onto a check. This is illegal in many states and puts you at great risk for theft.

- If you are expecting a card in the mail, keep an eye out for it. If it doesn't arrive in the expected amount of time, call the company.

- Never give out personal information over the phone, internet or by mail, if you didn't initiate the transaction. If they called you, you don't have to verify who you are!

-Memorize all your passwords and codes. Do not write them down and keep the paper in your wallet!

- Ask your bank and credit card companies to add extra security protection to your account. Most of them will let you to use an extra code or password (a number or word) when accessing your account. Do not use your mother's maiden name, last four digits of your telephone number or anything else easy for someone else to find.

Here's an easy trick to making a strong password that's easy to remember but hard to guess.

1. Think of an easily remembered sentence. It could be a favorite saying or your favorite line from a book or movie. I'm going to use my favorite line from Harry Potter and the Sorcerer's Stone by JK Rowling. "We could all have been killed - or worse, expelled."

2. Use the first letter of each word. wcahbkowe.

3. Now think of numbers that you can tie into the line in your memory. I will use 1 because this quote is from the first book in the series, and 7 for the total numbers of books in the series.

4. I will add them at the comma in the sentence. wcahbkow17e.

The longer your string is, the harder it is to crack.

Wouldn't it be great if you had enough foresight to sign up for some protection in advance, just in case someone tried to steal your identity? There's a great program that will monitor your identity for you. If they discover someone has accessed your identity, or if you call their 800 number to report identity theft, they restore your identity for you! In addition, if you are wrongfully detained or arrested, you have 24 hour a day access to a lawyer. It's pretty inexpensive, and in my opinion, well worth it. I'm signed up with them and feel very secure. You can find out more about this service here.

- Monitor your credit card account and bank account information frequently. This way you will quickly notice if someone other than you has been accessing your money.

- Keep a list of all relevant accounts, (ie. credit cards, debit cards, bank accounts, and investments) with the account numbers, expiration dates, and telephone numbers of the customer service and fraud departments in a secure place so that you can quickly contact them if you suspect your identity may have been stolen. Do not keep the list in your wallet or purse!

- Check your credit report often. If someone steals your social security number and opens up a credit card in your name, they may have the statements going elsewhere and you have no way of knowing about it. This can ruin your credit. Federal law gives you the right to one free credit report each year from the three credit bureaus: Equifax, Experian, and TransUnion. So you can order one free report from a different one of the three companies every four months. Here's how to order your free annual credit report:

- By telephone, call: (877) 322-8228
- Online at: www.annualcreditreport.com
- By mail. Print out the order form here:
www.annualcreditreport.com/cra/requestformfinal.pdf

Remember. The sooner you discover the problem, the less the damage will be.

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