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Don't
wait until your identity has been "stolen" to
worry about it. Identity fraud is a severe crime
with serious repercussions that can take months or
even years for victims to repair, not to mention
hundreds to thousands of dollars. If someone has
stolen a
credit card,
or has obtained enough information about you to
start applying for new loans and
credit cards,
your
credit score
is going to be adversely effected. You will likely
have difficulty obtaining a job (employers are
making credit checks a regular part of the
interviewing process), you’ll be denied credit for
things you apply for. You will have a hard time,
if not find it impossible, to obtain college
loans, vehicle financing, credit cards, and
mortgages. In some cases, identity fraud victims
may even be arrested for crimes they haven’t
committed, because someone else is living under
their name as well.
How
does
identity theft
happen? Most people are fairly careful with their
personal information, so how can someone steal the
“identity” of another human being and get away
with it?
There are many ways identity thieves are able to
get personal information from people. In some
cases, the thieves work for companies where they
have access to individual records via a computer
or through paper files. Sometimes, a person
doesn’t even need access to the information,
they’ll just hack into the computer system and
retrieve the information they need to steal
someone else’s identity. One of the most
traditional ways for someone to obtain your
personal information is by going through your
mail. Whether they steal it right from your
mailbox or find it in the garbage, if someone
finds bank or credit card statements, checks that
have been voided but not ripped up, new credit
card offers and tax related information, they
usually have enough information to become “you”.
People who go through garbage containers are known
as “dumpster divers”, and will often be found
looking for information in public trash areas and
business dumpsters.
There are people and businesses in the world that
have a legitimate right to access another person’s
credit report.
These people include landlords, employers, and
businesses that must run
credit reports
prior to extending credit. Identity thieves often
become employed at these organizations in order to
obtain access to the personal information they
need to do their crime.
Opportunities for thieves to find your information
are endless. Identity thieves are smart; you have
to be smarter.
There are a few cautionary things you can do to
help prevent identity theft. After reading your
mail, cleaning your desk at home or work, or
cleaning out your car- do not just throw your
personal items in the trash. Receipts, utility
bills, bank statements, loan statements and credit
card offers and statements should be completely
destroyed prior to throwing away. Invest in a
paper shredder and shred everything you are
throwing away to eliminate the possibility of
someone finding out information. Alternatively,
you could burn your paperwork. When throwing away
credit cards, shred them or cut them into many
small pieces.
It
used to be that people felt it would be difficult
to use another person’s credit card. After all,
you have to sign your name when making a purchase
with a credit card, right? You need to protect
your credit cards in the same way that you protect
your cash. Merchants rarely check that the
signature on the back of a credit card matches the
signature that is signed on a receipt when a
purchase is made.
If
you have lost a credit card, or it has been
stolen, report the situation to your creditor
immediately. The credit card company will put a
hold on the account to prevent any purchases from
going through- and they can also track the
location where someone has attempted to use the
card. This will help in the efforts to find the
thief. When you are dining at a restaurant, be
mindful of paying with a credit card. Most waiters
will take your card to the register to process it,
and the card is out of your sight during this
time. How do you know the waiter or someone else
isn’t writing the numbers and name down from your
credit card to use it for online purchases later
on? Consider paying with cash whenever you are at
a restaurant.
The
biggest precaution you can take on a regular basis
is to view your credit card statements and bank
statements as soon as you receive them. Look for
any purchases that you did not make, and call the
credit card company immediately if you find
something you are unsure of. If identity theft is
caught early on, it can often be stopped before it
gets out of hand. Also keep track of whether or
not you’re receiving your statements every month.
If you are missing a credit card statement, call
the company to verify the address it’s being
mailed to. It’s possible that someone filled out a
change of address form at the post office or with
the credit card company, and is receiving your
statements at a different address with intent to
use the information.
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