Prevent Identity Theft
We have all heard the horror stories about identity theft. It can wreck your life. You must protect your bank account numbers, credit card numbers, and most importantly your social security number.
Never give your social security number to anyone unless it is absolutely necessary and then try to get around it. Ask why they need it and how secure is the information kept.
Don't carry your social security number in your wallet. Memorize it and put your card in a safe place.
If you think someone has stolen your social security number, call the Federal Trade Commission's theft hot line immediately at 1-877-IDtheft. Website: www.consumer.gov/idtheft.
Make copies of all your personal information such as social security cards, credit cards, debt cards, and driver's license and keep it in a fire-proof safe so you will have it in case of theft. You can use the copies to get all your identification numbers and contact numbers so you can report the theft right away.
Report Identity Theft
If the worst happens and your identity is stolen you need to take immediate action. Here are some crucial steps to take to limit the damage in case this happens to you or someone you know.
1. Cancel your credit cards immediately. Make sure you have the toll-free numbers and your credit card numbers written down in a secure place so you will have them in case of an emergency and you will know who to call.
2. Close any accounts that you think have been tampered with or opened fraudulently. Ask to speak with someone in the security or fraud department of each company.
3. File a police report in the jurisdiction where the card was stolen. This proves to the credit providers that you were diligent and that a crime took place.
4. Call the three national credit-reporting organizations to place a fraud alert on your name and social security number.
Important Phone Numbers:
Equifax: 800-525-6285
Experian: 800-301-7195
Trans Union: 800-680-7289
Social Security Administration Fraud Line: 800-269-0271
Debit Cards
Debit card users have less protection against fraud than credit card users. Debit cards are linked to your checking account. Your checking account could quickly be wiped out and you could be liable for the total amount of the loss depending on how quickly you report the loss to the financial institution. Check with your financial institution to find out your liability.
Protect Yourself From Identity Theft
- Do not use your debit card for any purchase that you cannot swipe the card yourself. Use it as a credit purchase instead of debit purchase whenever possible.
- Do not use debit cards when shopping online.
- Check your credit report at least once a year.
- Freeze your credit reports with Equifax, Experian, and TransUnion. This will prevent credit issuers from accessing your credit files except when you give permission.
- Consider credit monitoring services. They will notify you if there is any activity on your credit report, alerting you to possible fraud.
- Don't have your social security number or driver's license number printed on your checks.
- Install a locked mailbox at your home to deter mail theft. Or have your mail sent to a PO Box instead.
- Shred pre-approved credit offers and any other financial information you don't need.
- Protect your PINs and passwords.
- Opt out of pre-approved offers of credit by calling 888-5-OPT OUT.
