q IDENTITY THEFT


You may have heard of identity (or ID) theft. That’s when someone uses your personal information (like your name, address, Social Security number, or credit card account number) to divert your mail, borrow money in your name, or buy things posing as yourself.


How does identity theft happen? Thieves steal wallets and purses containing your ID and credit and bank cards; they steal your mail, including bank and credit card statements or pre-approved credit offers; they rummage through your trash; they use personal information you share on the Internet; they send e-mail posing as legitimate companies or government agencies and ask for financial information; or they hack into computer files in offices where you’re a customer, employee, patient, or student.


There are a number of things you can do to avoid ID theft: • Place passwords on your credit card, bank, and phone accounts • Secure personal information in your home • Don’t carry your Social Security card; give your SS number only when absolutely necessary


• Don’t give out personal information over the phone, through the mail or over the Internet unless you’ve initiated the contact or are sure you know who you’re dealing with


• Guard your mail and trash from theft • Destroy offers of credit received in the mail that you don’t respond to; also, you can “opt out” of receiving free offers of credit


• Review your credit reports at each of the three major credit bureaus once a yea; doint so is free


If you find that you are or may be a victim of ID theft, here is what you can do: • Close any accounts that have been tampered with or opened without your permission


• File a police report • File a complaint with the Federal Trade Commission and the Attorney General’s Office


• Place a fraud alert on your credit reports and review your credit reports


• Keep copies of all papers relating to the ID theft (and the original of any police report), and keep a record of all contacts you’ve made.


ID theft can create problems for years—including when you apply for credit, try to buy a house, or look for a job. Take steps to ensure that it doesn’t happen in the first place!


58 On Your Own, 2008 Edition


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