Preventing Identity Theft
Don't Become an Identity Theft Victim! Protect Your Personal Information
Every day you are called to trust others. You trust that your doctor prescribes the right medication for your ailment. You trust that the bus driver gets you to your destination safely. You trust that the chef prepares and serves your food at the right temperature. You trust that the postal worker delivers your letters and parcels to their proper destination. In most cases, your trust is valued and well deserved and all goes well. But unfortunately, there are people who profit from taking advantage of your trust. They work to steal your personal information, a potential treasure trove of expensive possibilities for the unscrupulous.
Identity Theft
Identity thieves can thrive only if they gain access to their victims' personal information. And once they have this information, they are empowered to wreak havoc on their victims' credit. According to the Federal Trade Commission (FTC), identity thieves do, indeed, wreak havoc. In 2003, more than 500,000 consumer fraud and identity theft complaints were filed with the Consumer Sentinel, the FTC's database for tracking consumer fraud-related complaints. The estimated cost in dollars? $400 million. The personal and emotional cost for victims is incalculable.
Without protecting your identity, an identity thief can -- in your name -- open credit card accounts, apply for auto loans, drain your bank accounts -- even file for bankruptcy or assume your identity should s/he be arrested.
Protect Yourself
The best way to avoid the hassle and heartbreak of identity theft is to remain vigilant. losely monitor your accounts. Check your credit report (preferably, order reports from two or more credit bureaus) at least once a year. Don't rationalize not receiving a bill or other expected mail. Conversely, don't rationalize actually receiving a credit card (credit card account information, etc.) for which you did not apply. And don't sit still if you are denied credit or receive a call from a debt collector for a debt you do not owe.
Password protect all of your credit, bank, and telephone accounts (just avoid easily discerned passwords, like the digits of your telephone number or a family name).
Make sure that your personal information, such as your Social Security card, is secured. As a rule, limit the credit cards that you carry in your purse or wallet, on your person, or in your automobile. Do not carry your Social Security card with you. Don't leave documents in an unlocked car or in your office. Secure your valuables.
Shred all documents, receipts, and account information, including junk mail from credit card companies. Identity thieves know that the trash yields lots of information.
Bills and other documents containing personal information should be mailed from the post ffice or U.S. Postal Service collection boxes. And collect your mail from your home mailbox as soon as possible -- don't allow mail to accumulate! Why? Because identity thieves are always seeking easy ways to obtain your information. Pilfering from your home mailbox is relatively simple and often goes unnoticed. (You may also choose to invest in a locking mailbox.)
Insist that those who have access to your personal information deal with and dispose of it properly. Does your physician have a reliable method for dealing with sensitive information? Your employer? The only way you will know for sure is to ask.
1Federal Trade Commission, "National and State Trends in Fraud and Identity Theft, January - December 2003"
