April 2005 Post Dinner Presentaion
Identity Theft By Marshall Schwartz
Identify theft is number one on the American Bankers Association’s crime list. All that is needed to steal your identify is a credit card number, bank account number, driver license number, or especially your social security number.
Marshall presented many basic cautions that will help prevent identity theft.
- Think twice before releasing personal information on the Internet, telephone, or on any type of application. Do not let someone pressure you to give out your bank account number, pin numbers, or credit card numbers.
- Verify Web sites have a closed padlock icon.
- Ask how your information will be used. Just because they ask for it does not mean you have to give it to them. Doctor and dentist offices do not need your social security number. If they need it for patient identification, insist on an alternate number.
- Do not release any information in Internet chat rooms or in instant text messaging.
- Use firewalls and anti-virus software.
- Create passwords with letters and numbers. Do not use family names, a portion of your address, birthdays, etc. Do not use the same pin numbers on multiple accounts.
- Use a separate credit card for online purchases.
- Use checks printed by a bank endorsed company. Do not list your driver’s license number, phone number, and especially not your social security number on the license. Providing all that information combined with your signature is asking for theft.
- Do not write your account number on your check when paying your utility or credit card bills.
- Review your credit report annually.
- Use a cross-cut shredder to shred all credit card offers, bank statements, cancelled checks, paycheck stubs, and any other document that has your name, address, account numbers, etc.
- If you have a straight cut shredder, wet the strips to destroy them. Straight cut strips can be easily taped together.
- Cut out the credit card number when submitting rebate offers.
If you believe you are a victim of identity theft, Marshall advises that you follow these steps.
- Report the theft to all your credit card companies, banks, phone providers, post office, and to any other organizations. Do this quickly, the longer you wait, and the more time they have to run up charges.
- Report the theft to the police and request a copy of the police report. Insist that it is filed, even if they tell you there is not much they can do. A filed police report indicates you are the victim, not part of the fraud. Credit card companies, banks, and other institutions will ask if you filed a police report.
- Contact the fraud department of the three credit bureaus. Ask them to put a fraud alert and victim statement in your account. Request a copy be sent to you. (See below for phone numbers )
- Request a copy of your credit report. Law now states that you can ask for one free copy annually. Review it for errors or fraudulent reports.
- Repeat your requests four months later to verify there are no new fraud reports.
- Call the Federal Trade Commission Identity Theft Hotline to file a report. (See below for the phone number).
If you are a victim of fraud, contact these agencies.
- Equifax
- website
- To order a credit report, call 1-800-685-1111
- To report fraud, call 1-800-525-6285
- Experian
- website
- To order a credit report, call 1-888-397-3742
- To report fraud, call 1-888-397-3742
- TransUnion
- website
- To order a credit report, call 1-800-916-8800
- To report fraud, call 1-800-680-7289
- Federal Trade Commission
- 1-877-438-4338