Protect Yourself from Identity Theft

Identity theft has become the fastest growing criminal activity in the 20th Century, replacing illegal drug sales. For the perpetrators, it offers the highest profit margin with the least risk. In fact, according to one expert, it is estimated that fewer than 1-in-700-identity crimes actually result in a conviction.

In the United States alone, Identity theft has reached $53 billion dollars a year. Consumers are directly shouldering about $5 billion of that, but the rest, which is paid by businesses and retailers, is passed on indirectly to consumers who are paying more for goods and services.

How BIG is this Problem?

In recent months, there has been a rash of reports about big thefts, where criminals are stealing identities in mass quantities. Banks, credit card companies and businesses that house servers storing passwords or other sensitive, private information have all reported "break-ins" that happened through the use of Trojan viruses and other online hacking methods - resulting in the loss of millions of pieces of information being stolen. There have also been instances of the information just getting "lost", of employees selling it and other lax security measures resulting in the same thing - thieves having access to your identity.

What do Thieves Want?

- Your Name - Date of Birth - Home Address - Phone Numbers - Social Security Number - Driver's License Number - Credit Card Numbers - CW2 Security Code (the number on the back of your credit card) - Your Credit Report - ATM Cards - Telephone Calling Cards - Mortgage Details

Where Are They Getting All Your Information?

High-tech methods include online thefts from:

- Banks - Credit-Reference Agencies - Retailers - Credit Card Networks - Data-Brokerage Companies - Payment Processing Companies - Phone Companies - Schools - Your Employer - Doctors, Clinics and Health Departments - Government Agencies

But there are still low-tech methods that are effective as well:

- Dumpster Diving - Mail Theft - Retail Theft - "Phishing"/pretexting/pretending - Purse/Wallet Theft

What are Thieves Using Your Information For?

- Making charges to your existing credit cards - Opening new credit cards in your name - Having phone or utilities turned on - Withdrawing money from your existing bank accounts - Employment purposes - Driver's Licenses - Tax Fraud - Social Service benefits - Student loans - Business or Personal loans - Health care - Mortgage loans/leases - Auto loans - Using your ID when caught committing a crime

How Can You Protect Yourself?

- Keep a photocopy of all your credit cards, bank account numbers and investment account numbers in a safe place - Keep your credit card receipts - don't throw them away in a public place - Put a "fraud alert" on all your credit reports - If you apply for credit and the card doesn't arrive on time, call the card issuer - Choose difficult to guess PIN numbers or passwords. (Don't use birth dates, your mother's maiden name, pet's name, etc.) - Never give personal information to anyone who sends you an email, a letter or calls you asking for it - Shred any personal information - such as bills, credit card or bank statements, even pre-approved credit applications before throwing them away - Don't use the ATM machine if someone is watching you - Pay attention to what's going on around you - cell phones often have cameras in them. If someone is standing close by you with a cell phone while you're entering a PIN number at the ATM or in line at the grocery store, block their view - Review your bills each month for unusual or suspicious charges. If there's something you don't remember or doesn't seem right, call the creditor right away - Check your credit report at least once a year - Store your cancelled checks safely, or better yet, have the bank do it. You can always get a copy if you need one. - Don't leave your purse in plain sight when driving - Keep your valuable locked in the trunk or glove box when driving - Make all personal information on your laptop or computer password protected - Don't carry information about your PIN numbers, passwords and account numbers in your purse or wallet; or at least don't make them easily identifiable as to which account they belong to

Warning Signs that Your Identity Has Been Stolen:

- Although you have good credit, a loan application is denied, or you're refused extended credit requests - You are suddenly contacted by a debt-collection agency - Your purse or wallet has been stolen, or your house broken into - There is unfamiliar activity on your credit report

What to do if it Happens to You:

- If your purse or wallet is stolen, call the police immediately, and file a report. Make sure that you're given a report number - Contact your bank, credit card and other credit extending companies and report the theft - Close the accounts - Contact the credit-reporting companies in your area, and report the theft. - Review your credit report every 90 days for the next year for suspicious activity - If there is fraudulent activity, have it removed immediately and monitor your credit report every 90 days for the next year - Put everything in writing, and follow up with your credit card companies, banks, and credit reporting agencies. Keep copies of all supporting documents - File a report with the Federal Trade Commission - Change the passwords on your existing accounts and create new ones for new accounts

Identity theft is real, and it's a growing problem, and it could happen to you. Although there are no guarantees that you can keep your information safe, by paying attention to the risks and taking proactive steps to protect yourself, you can minimize your chances of someday having an "identity crisis". Good luck!

David Neese is a real estate investing author who offers a free course for real estate investors delivered by email, audio and teleseminar which you can get for free at: http://www.FreeRealEstateInvestingCourses.com You can find more information about David at http://www.DigitalSuccessCoach.com

Fighting Identity Theft

Chances are good that you know someone who has been victimized by the fastest growing crime - identity theft. The Federal Trade Commission (FTC) reported that there were 10 million cases of identity theft in 2002 alone. Its estimated that someones identity is stolen every 79 seconds.

The bad news is with increasing amounts of personal information available to an experienced identity thief, it shows few signs of slowing down. The good news is that identity fraud is now a federal crime with stiff penalties for those who perpetrate these crimes.

Here are a few simple steps you can take now to minimize your risk:

1) Check your credit report annually, if not more often. Most victims of identity theft dont realize theyve been victimized until 14 months after the crime. By then the damage is done and you will spend a significant amount of time and money trying to correct it.

2) Keep your Social Security number private. Do not have it printed on your personal checks or drivers license. Do not share it with anyone, including merchants, unless they can provide a good reason for having it. Once someone has your Social Security number they have the key to unlocking your identity and using it fraudulently.

3) Shred offers for pre-approved credit cards that you receive by mail. Do the same with any receipts that contain account numbers or your Social Security number. Identity thieves are not afraid to go dumpster diving in order to obtain your personal information.

Identity theft has become the fastest growing crime because it is the most profitable crime. On average, the loss from identity theft is about $18,000.00. Taking these precautions now can you save you from becoming another statistic in the fight against identity theft.

© 2004, http://www.yourfreecreditreportnow.com
James H. DimmittJames is editor of "TO YOUR CREDIT", a weekly free newsletter. Subscribe to the newsletter by visiting http://www.yourfreecreditreportnow.com. He is also author of Identity Theft - How to Avoid Becoming the Next Victim! available at http://tinyurl.com/bc45jimdim815@aol.com

Identity Theft: Safeguarding Can't Hurt

Will we ever get a break? Not right now .In San Diego, police arrested a postal worker for stealing mail and trading it to identity thieves to support his drug habit.

Another arrest involved the hacking of wireless carrier T-MobileUSA's network. According to Fox News, the attacker gained access to a database of 16 million customers including the personel information of the Secret Service agent investigating the break in.

Then there's Choicepoint. When last we left the information giant, criminals broke into their 19 billion records database. Choicepoint now acknowledges previous attacks that date back to the year 2000.

The number of identity theft victims as well as the methods of getting personal information continue to increase sharply. Yet while no 100% guarantees exist online or off, safeguarding can't hurt and one of the best ways for fighting identity theft exist in your own home.

Check your trash.

Going thru your garbage has turned into an exact science and a major goldmine for the identity thieves. The Department of Justice refers to this as "dumpster diving" Check everything you throw away then check it again.

Mark any information including financial statements, driver's license, address and especially your social security # "Sensitive" then shred it. I recommend a crosscut shredder. Throw it away in different garbage cans on different days.

Shred junk mail credit card offers and get taken off the major credit agencies' marketing lists.

If you're not doing it already, get into the habit of taking your mail particulary any bill payments directly to the Post Office. Identity thieves also target mailboxes. They frequently stake out the area and wait for the optimum time. Getting a locked mailbox doesn't hurt either.

Use anti spyware, a firewall and antivirus programs on your computer system. If performing a transaction online make sure the company provides a secure server. They should tell you but if not look for the yellow lock at the bottom of your screen.

Guard your plastic. Examine your credit card statements and request a copy of your credit report. Agencies will send you one free copy per year. If you request more than one, you get charged a fee anywhere from 9 to 20 dollars depending on the credit bureau.

Handle this with care. Eventhough you're doing the right thing in trying to protect yourself, too many inquiries are frowned upon by these agencies and could impact your credit negatively. Joining a credit monitoring company can remove that obstacle.

One caveat.You should exercise vigilance in protecting your credit cards but it's not the total solution that some experts claim. The Federal Trade Commission estimates that 60% of all identity theft cases do NOT involve any existing accounts. Guard your plastic but make guarding your Social security number the top priority.

These methods of protection take on a special significance due to the identity of the criminals. According to the Better Business Bureau's 2005 Fraud Survey Report, family freinds and neighbors account for half of all identity thieves. You don't want to turn someone you know and love over to the authorities so do your best to eliminate the temptation.

Again, no 100% guarantees exists. You make transactions at the restaurant, corner store, gas station and a host of other places. We all need to deal in this world so there's always a risk factor. Stay vigilant on the things you control and the chances of identity theft can decrease.

Because at all costs you want to avoid what many victims rank as the worst part of identity theft. The nightmare of recovery.

Daryl Campbell is a writer and home business owner.Banks say you should check your credit once a year. No problem right? Except it leaves identity thieves the other 364 days to steal it. Get the professionals on your side to watch your back 24/7. How? Go now to => http://digbig.com/4dwsx

Linneker@comcast.net