Identity theft - beware!

In the movie “The Net,” Sandra Bullock played the role of a victim of identity theft. In fact, she was basically erased from the community. Another woman consumed her identity, taking with it everything Sandra Bullock’s character had - including her bank accounts, license and social security number, and even her home. It seems crazy to think this could happen; after all it’s only a movie. But just as fairy tales can come true, so can your worst nightmare. Theft of identity is happening at an alarming rate. Over 100,000 identity theft complaints are filed each year.

Identity thieves work in various ways. One of the most common is to open up a new credit card in your name, using your date of birth and social security number. They rack up charges, don’t pay the bill and the delinquent account is reported on your credit report. They can also change the mailing address so that your credit card will be sent to a false address, giving them more time to make purchases, until you realize there is a problem. They may also establish cellular phone services and bank accounts in your name, making costly phone calls and writing bad checks.

Identity theft today is much more than losing your wallet full of cash. You could lose your entire savings account. Some victims are stuck paying false loans and huge credit card debt. At the very least victims will lose their good credit rating. Most people spend endless hours trying to clear up security and financial problems that arise. This can be costly, time consuming and causes enormous stress to the victim and their family.

Don’t wait to take actions to prevent identity theft. You can be proactive in reducing your chances of becoming a victim using some simple strategies. Don’t put this off – you can do it a little at a time and it’s easier than you think – and the irony, is that other areas of managing your life will be more organized as well!

• Keep a written record or photocopy (locked away) of the contents of your wallet or purse. Don’t carry your wallet with you when it is not necessary.
• Watch your phone bill, cable bill, Internet bill, etc., for any increase in charges.
• If your credit card bill is late or you suspect it is lost, call the credit card issuer immediately.
• Mail bills from the post office or official postal box instead of your home.
• Check with your creditors on their policy for stolen cards or fraudulently accessed accounts. (You could be liable!)
• Keep important documents, (passport, birth certificate, stocks, savings accounts), locked in a safe or file drawer.
• Shred old bank and credit card statements, making sure account numbers, passwords, and addresses are unreadable before discarding.
• think about what you are throwing in the trash. Assume anyone can and will go through it after it leaves your home!
• Use only web sites that are encrypted and secure and have a privacy policy -before you type in your credit card number.
• Create passwords that make sense to you but are not the usual birth date, anniversary, pet or maiden name.

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