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Keep Your
Guard Up
Protect your identity and finances
With these basic Steps,
by karen c h e n e y
THE GOOD NEWS
about id e n tity th eft is that
it has been steadily decreasing the past fe w years
thanks to m ore v ig ila n t consum ers and better
se cu rity procedures at financial institutio ns. T h e
bad new s is thieves w ill still cause n ightm arish
problem s fo r 8 m illio n or m ore A m ericans this
year. I f yo u ’re careful, yo u w o n ’t be one o f them .
A c c o rd in g to the Federal T ra d e Com m ission,
about 38 percent o f id e n tity th eft cases are still
basic cre d it card fra u d — w h e n som eone sw ipes
yo u r w a lle t o r cre d it card num ber and goes on a
sh o p pin g spree. I f yo u re p o rt it im m ediately, the
la w lim its yo u r losses to $50, and m ost cred it
cards offer ze ro lia b ility. A good first lin e o f
defense against th is is to clean out y o u r purse or
w alle t. T r y to c a rry ju s t one cre d it card, and never
c a rry Social S e cu rity cards, pay stubs, receipts,
passw ords, and P IN s.
W h a t’s w o rse in id e n tity theft is w h e n a crook
actually opens cre d it card and cell phone
accounts in y o u r nam e and ru n s up b ills yo u are
unaw are o f fo r m onths. “T h e th ie f redirects the
m ail and m ay pay the first b ills so th at banks don’t
becom e suspicious,” explains Scott M itic ,
C E O o f T ru s te d ID , w h ic h m arkets an
id e n tity p ro te ctio n kit. “T h e n he ru n s up
the b ill to its m ax and skips to w n .”
Y o u can p a y m o n th ly fees to y o u r o w n
cre d it card com panies o r reputable
th ird -p a rty p ro te ctio n firm s to be vig ila n t
fo r yo u and alert yo u to potential problem s
sooner than yo u m ight be able to. Ju st
keep in m ind that no one p ro d u ct or firm
can guarantee that yo u w o n ’t be a victim ,
b u t anyone can dram atically reduce the
odds o f beco m ing a target b y b ein g
m ore w ary.
PATROL THE HOMEFRONT
B ig financial netw ork security breaches,
Internet scams, and the latest com puter
viruses always generate scary headlines.
Sadly, you’re m ore lik e ly to becom e a
victim o f identity theft from a fam ily
member, a neighbor, an at-hom e employee,
or a co -w o rk er w h o has access to yo u r
com puter, m ailbox, trash/recycling bin, or
yo u r Social S ecurity or checking account
num bers. O ne college student recently
discovered that her m other had opened a
cable account in her name and ran up an
$800 b ill. It took days fo r the daughter to
go th ro ugh the legal steps o f clearing her
nam e— and m onths before her relationship
w ith her m other began to heal.
Reduce paper bills and account
statements and do yo u r banking and
b ill-p a yin g online. O n ly w rite checks to
people you kn ow and trust. Sandra
Duggan, a P hiladelphia lawyer, says she
had her identity stolen w h e n a th ie f took
her account and bank rou tin g num bers off
a check she w rote. Shred credit card
offers, bank and credit card statements,
and any other papers that contain sensitive
inform ation before th ro w in g them aw ay or
recycling. I f you bank online, you can
receive yo u r statements online and also
sign up fo r alert messaging, asking yo u r
bank to no tify you b y e-m ail if yo u r
account dips below a certain am ount or if
there is a hefty w ithdraw al.
Invest in good softw are fo r setting up
firew alls and detecting spyw are and
S
ou’ve
n a
victim.
..
CLOSE ACCOUNTS
THAT HAVE BEEN
TAMPERED WITH
OR YOU DIDN’T
OPEN. Request
replacement cards with
new account numbers.
If your checkbook was
stolen, stop payment on
outstanding checks and
close your account.
PLACE A FRAUD
ALERT ON YOUR
CREDIT REPORT. A
90
-day fraud alert
requires potential
creditors to verify your
identity before they
issue credit in your
name. You can ask for a
7
-year alert with proof
of identity theft. To
place an alert, call one
of the three credit
reporting agencies.
Equifax:
800
/
525
-
6285
;
Experian:
888
/
397
-
3742
;
TransUnion:
800
/
680
-
7289
).
PUT A SECURITY
FREEZE ON YOUR
REPORT. A freeze
allows only existing
creditors to access your
information. If you
apply for a new card or
mortgage, you would
have to lift the freeze at
least temporarily.
FILE A POLICE
REPORT. A police
report can help you
make your case and
may even be required
by creditors.
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JULY 2009 BETTER HOMES AND GARDENS
PHOTO: JUPITER IMAGES
