Identity theft is one of the fastest-growing types of financial fraud. Your financial identity can be stolen with as little information as your social security number. It is also called “account-takeover fraud” or “true-name fraud”, and it involves someone assuming your identity by fraudulently applying for credit, running up huge bills and stiffing creditors – all in your name.

Take these steps to protect yourself:

1. Order copies of your credit report once a year to ensure they are accurate. You can receive a free annual credit report from each of the three national credit reporting agencies. Go to www.annualcreditreport.com or call 877-322-8228.
   
   If you have been denied credit in the past 60 days, the credit reporting agency that sent the report to your prospective creditor must provide you a copy of the report for free. However, it will not be sent automatically so you have to request a copy from the credit reporting agency.

2. Keep an eye on your accounts throughout the year by reading your monthly/periodic statements thoroughly. This is an easy way for you to be sure that all of the activity in your accounts is accurate.

3. Thieves are known to go through trash to get personal information that can give them just enough information to get credit in your name.  Shred pre-approved credit offers, receipts and other personal information that link your name to account numbers. Don’t leave your ATM or credit card receipt in public trash cans. 

4. If you do not receive a credit card or monthly statement within a reasonable period of time, contact the issuer to determine if the item has been mailed to you. If it has, contact the Postal Service to see if someone has forwarded your mail to another address.

5. Don’t write your personal identification number (PIN) on your ATM or debit card. Cover your hand when you are entering your PIN number at an ATM. Don’t write your social security number or credit card account number on a check.

6. Don’t carry your social security card, passport or birth certificate unless you need it that day. Take all but one or two credit cards out of your wallet, and keep a list of your account information and customer service telephone numbers at home. Then if your wallet is lost or stolen, you will only have to notify a few of your creditors.

7. Never provide personal or credit card information over the phone unless you initiated the call. Scam artists are known to call stating that you have won a prize and all they need is your credit card number for verification. Remember the old saying, “If it sounds too good to be true, it probably is.”

Links
Federal Trade Commission – Fighting Identity Theft
Office of the Comptroller of Currency – Fight Identity Theft

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