| Identity
Theft…Can It Happen to You?
Every year the number of victims
of identity theft steadily grows. A recent estimate put the
number at 500,000 annually. Don't let yourself be included
in that statistic.
Identity theft is
a form of fraud in which an individual's personal information
is actually "stolen" and used to apply for credit
by the thief, assuming the victim's identity. Huge bills are
run up, creditors are left unpaid, and the victim is left
with a nightmare in trying to clear up his/her credit record.
Information such
as your bank account number, Social Security number, birthdate,
even relatives name's, can be used in various schemes.
Listed below are
some tips to help you protect your good name and your assets
from this situation.
1. Don't give your
Social Security or account numbers to anyone over the phone
unless you initiated the call. Don't even give them if the
caller claims to be from your bank. The bank already has that
information.
2. Do not have your Social Security number printed on your
checks or your drivers license. Upon request, a different
number can be assigned to your drivers license.
3. Tear up or shred old receipts, cancelled checks and statements,
even unused credit card offers, before throwing them away.
This includes ATM and credit/debit card receipts. Many identity
thefts have occurred when information is retrieved from the
trash.
4. Review your credit card and bank statements as soon as
your receive them to spot any unauthorized transactions.
5. Protect your PINS and computer passwords. Use a combination
of letters and numbers and change them often. Don't carry
these codes and numbers with you.
6. Report lost or stolen checks to your bank immediately so
that your account can be blocked. And don't forget to look
over your new check orders to be certain none have been stolen
in transit.
7. Sign your credit cards immediately upon receipt.
8. Keep a list of all card and bank account numbers along
with expiration dates and credit limits, as well as the respective
numbers to call in case of loss or theft.
9. Notify your bank or local authorities of suspicious phone
inquiries in which account information is asked for to "verify
a statement" or "award a prize."
10. Don't put outgoing mail in your mailbox. Instead, drop
it in an official Post Office collection box.
11. If regular bills don't arrive on time, call the company
to find out why. This ensures that a false change-of-address
hasn’t been filed to divert your information.
12. Cancel your unused credit cards so that those numbers
will not appear on your credit report.
13. If doing business on-line or over the phone, choose reputable
companies. If on-line, use a secure browser that encrypts
or scrambles purchase information. Make sure your browser's
padlock or key icon is on.
14. Report any suspected fraud to your bank and credit issuers
immediately so accounts can be closed and the process of clearing
your name can be started right away.
15. Request a Social Security Earnings and Benfits statement
once a year to make sure no one else is using your Social
Security number for employment.
Get your FREE annual credit report!
Consumers are eligible
for a free annual credit report under the 2003 Fair and Accurate
Credit Transactions Act. Amendments to the federal Fair Credit
Reporting Act (FRCA) require each of the nationwide consumer
reporting agencies (CRS) to provide consumers with a free
copy of their credit report, at the consumers request, once
every 12 months. The three largest credit reporting agencies,
TransUnion, Experian, and Equifax, have developed a centralized
single contact system that consumers can use to order a report
from one, two, or all three bureaus. The reports can be ordered
three different ways: online, by phone or through the mail.
The following link
will take you directly to the site for obtaining your free
annual credit report. Don’t hesitate to take advantage
of this important new legislation to track your financial/credit
information.
https://www.annualcreditreport.com
The Federal Trade
Commission (FTC), the nation’s consumer protection agency,
has prepared a brochure, Your Access to Free Credit Reports,
explaining consumer rights and how to order a free annual
credit report. This brochure can be viewed at:
http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre34.shtm
First State Bank
recommends ordering from the three different agencies at various
intervals during the year, rather than ordering from all three
at the same time and then waiting another year. By spreading
the inquiries out over the year, there is a better chance
of catching any suspicious activity in a more timely manner.
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