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Identity Theft

Identity theft is one of the nation’s fastest-growing crimes. According to the Federal Trade Commission, about nine million Americans are the victims of identity theft each year. Identity theft can be devastating – it can ruin your credit and cost you thousands of dollars to resolve. Don’t be the next victim.

With a little prevention, you can make sure that your identity remains yours.

Are you at risk?

The first step to protecting your identity (and your credit) is being informed. Answer the following questions to determine if you know how to protect yourself:

• Do you monitor your credit reports and bank statements on a regular basis?

• Do you shred bills, pre-approved credit cards, and other mail that contains personal information?

• Do you know what to do if you suspect that your personal information might have been stolen?

If you answered “no” to any of these questions, you may need a refresher course in protecting your identity.

From dumpster diving to phishing

Identity thieves are constantly devising new ways of accessing your personal information, from low-tech wallet theft to sophisticated Internet scams. Here are some of the most common ways that crooks get your personal information:

• Dumpster diving: Digging through trash bins and dumpsters may be disgusting, but it can be a gold mine for an identity thief. If you throw your bills away without shredding them, you don’t know who may find them.

• Changing your address: Most bills have a form on the back that you can fill out if you’ve moved. An identity thief that finds a copy of your credit card statement can fill it out and have the bill sent somewhere else instead. You may not notice a missing bill (or the big-ticket purchases made on your credit card) for a few weeks.

• Stealing your wallet/purse: A scary thought, considering that most of us carry all of our credit cards, ID cards, and sometimes checkbooks.

• “Phishing”: You receive an email from your bank or credit card company that looks legitimate, down to the logo. They need to update your account and need your password, PIN number, or social security number. It could be an identity thief hoping that you’ll comply and send all your proprietary information.

Once a thief has a few numbers, he or she can use your name, credit card, bank account, and even your social security number to make large purchases, open new accounts, or set up phone service. In some cases, identity thieves have purchased cars and rented apartments – some have even gotten jobs under a fake identity.

Protecting your name and credit

You can keep your identity out of the wrong hands with a little prevention. Taking a few simple precautions can help you keep your information private:

• Invest in a paper shredder. You can find these at any office supply store, and they are an inexpensive way to destroy your mail or other documents containing personal information.

• Check your credit. Keep up with your credit reports and read your credit card statements carefully for any unusual activity.

• Protect your social security, PIN, or account numbers. If you receive an email or phone call from someone claiming to be your bank or credit card company, there’s a chance they could be thieves “phishing” for information. Notify the financial institution immediately.

• Involve the authorities. If you suspect that your information has been stolen, call the bank, the police, and the Federal Trade Commission at 1-877-IDTHEFT for help. Place a fraud alert on your credit cards to watch for suspicious activity.

Article Source: http://www.articlesplanet.net

About Author:
Ralph Winn. 35 years in the Security System industry. Home Security and Alarm Monitoring tips.