Identity theft occurs when someone else uses your personal information to open a bank account, acquire a credit card or engage in other fraudulent acts. A victim of identity theft may find they are unable to secure a loan due to damaged credit or may even face criminal charges for acts the thief committed under the victim's identity.
The best way to protect yourself from identity theft is to protect your information:
- Keep your social security card in a safe place; do not carry it with other personally identifying information.
- Shred documents that contain account numbers or other sensitive material before discarding them.
- Report lost or stolen ID cards, licenses or credit cards.
- Be on alert should you fail to receive your regular account statements.
- Never keep a record of your passwords or use sensitive information as your password.
- Stop preapproved credit offers.
To opt out of receiving prescreened offers of credit in the mail, call: 1-888-5-OPT-OUT (1-888-567-8688). Note: You will be asked to provide your Social Security number, which the consumer reporting companies need in order to match you with your file.
Resources:
"Take Charge: Fighting Back Against Identity Theft"
A thorough discussion of identity theft is provided in this article, including how identity theft occurs and how to minimize your risk.
FTC National Resource for Identity Theft
The Federal Trade Commission keeps a site on identity theft that includes consumer and business information as well as the steps you should take if you suspect your identity has been stolen.
Guard Against Internet Thieves and Electronic Scams
The Federal Deposit Insurance Corporation (FDIC) has produced a multimedia presentation to help consumers protect themselves from identity theft. The presentation provides information on steps consumers should take to secure their computer and protect themselves from identity theft, as well as actions consumers should take if they become a victim of identity theft.
