This post is originally authored at the home security blog at FamilyHomeSecurity.com.

It’s a warm September night, and your family is out visiting friends. While you’re away, a black-clad figure darts onto your lawn, avoiding the headlights of passing cars. The burglar uses a crowbar to pry open an unlocked window, and slips inside. Within minutes, the thief has stuffed a bag full of electronics, jewelry and other valuable items. Suddenly, he happens upon your desk drawer full of important documents. Bank records, social security cards, passports, birth certificates and other items are neatly filed away with tabbed labels. Suddenly, this petty thief has become a different kind of criminal – an identity thief.

One in every 10 US consumers has already been a victim of identity theft, according to statistics published in 2009. What’s even more surprising, is that from 9-18% of people victimized by identity theft don’t discover that their identity has been stolen for over four years.

Stolen Identity? What to Do Immediately

Once you figure out that your identity has been compromised or stolen, you need to take action as soon as possible. Here are some things that you should do immediately, to minimize damage.

Cancel Your Cards.
This may seem like common sense, but some people aren’t even aware of the customer service number to call to cancel their credit/debit cards. For debit cards, you should call the bank at which you have an account. If it’s an online bank (such as Paypal), you can usually cancel your cards by calling the customer service number on their website.

Close Your Accounts
Even if you aren’t fully aware of how much your identity has been compromised, it’s still highly recommended that you close all accounts associated with your name. Once you have done research about fraudulent activities done in your name, you may have to close accounts that were opened without your knowledge.

Put a “Fraud Alert” On Your Credit Reports
By placing a fraud alert on your credit reports with all three credit bureaus, you can prevent additional damage to your credit score. When an inquiry is made on your credit report (possibly by the person who has stolen your identity), the fraud alert may prevent them from being able to open any additional accounts in your name. Here are the numbers for all three credit bureaus:

• Experian: 1-888-397-3742
• Equifax: 1-800-525-6285
• TransUnion: 1-800-680-7289

You should also obtain a copy of your credit report from all three credit bureaus. This can give you a better understanding of some of the financial activities an identity thief has done in your name. You may also find inaccurate information that has been changed and/or modified – it’s important that you get this information removed immediately.

Contact the Federal Trade Commission
It’s highly recommended that you contact the FTC (Federal Trade Commission) to file a formal complaint. This provides important information that allows your case to be investigated by law enforcement officials. Here is the phone number for the FTC’s identity theft hotline:

• FTC: 1-877-438-4338

Contact the Police
Filing a report with the police can actually be one of the more difficult actions that you take in protecting your identity. First, contact the local police in your area and ask to file an in-person report. If they say that they aren’t required to take police reports for identity theft (which is the case in some states), you can contact your state’s Attorney General. When you file your report, be sure that you have a copy of your credit report, documentation about all action that you have taken to protect your identity, as well as a copy of the complaint that you filed with the Federal Trade Commission.

Sources:

http://www.spendonlife.com/guide/identity-theft-statistics

http://www.yourcreditadvisor.com/blog/2007/03/your_identity_h.html

http://www.ftc.gov/bcp/edu/microsites/idtheft/consumers/defend.html

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This post is originally authored at the home security blog at FamilyHomeSecurity.com.

Identity theft is gaining more recognition as being a legitimate threat to people worldwide. Aside from being featured in TV shows, movies and books, identity theft has also become a problem for everyday consumers as well. You may not realize it, but every time you use your credit or debit card, you are putting yourself at risk for the theft of your identity. Today’s identity criminals may only require your name, address or your social security number in order to assume your identity, effectively ruining your name, reputation and credit score. Here is a general guide designed to help give you more information about identity theft, and the methods a thief may use to steal your identity.

What is Identity Theft?

Any time someone uses a credit card number, social security number, name or other information that doesn’t belong to them, they have committed identity theft. Often times, criminals will steal the information of others in order to commit crimes, make large purchases or fund fraudulent activities. It is becoming more common, even as many people are taking steps in order to protect their personal information.

Am I At Risk for Identity Theft?

In the United States alone, it’s estimated that over 9 million people have their identities stolen each year. In many cases, the affected people don’t even realize that their identities have been stolen until the damage has already been done. Identity theft takes many forms, as criminals now have sophisticated methods that they may use in order to steal your identity. In general, every person with a bank account, credit card or social security number is technically at risk for identity theft.

How Can My Identity Be Stolen?

There are many methods that identity thieves may use in order to assume someone else’s identity. Some of these methods are performed in public places, such as restaurants or retail stores. Other methods make use of fraudulent emails, phone calls or letters claiming to be a company that requires your information. Some examples of methods of identity theft include:

Physical Theft
When you lose your credit card, driver’s licence or social security card to a thief, you are at immediate risk of having your identity stolen. Some thieves still resort to straight stealing of a person’s wallet, identification documents or purse. In addition to this, some thieves bribe employees of banks or other institutions that have access to your personal information.

Phishing
In this method, a thief will assume the identity of a reputable company or banking institution, perhaps a company that you already do business with. They will send you emails, letters or other documents stating that they need to “update their records”, or “confirm your information”, in order to convince you to surrender your personal data to them.

Skimming
In this method, a thief will wear a special scanning device when working at a location that processes credit cards (such as a restaurant or retail store). When they run your card through the store’s system, they will also run the card through their scanning device. This device will store your name, address, credit card number and any other information associated with your card. They may either use this information to steal your identity, or sell it to another thief.

Dumpster Diving
Perhaps one of the most well-known methods for identity theft involves a thief rummaging through a person’s trash to search for important documents. These documents may be credit card offers, bills, bank statements, pre-approved credit offers, bank checks or tax documents. Once they have this information, they can effectively steal your identity.

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This post is originally authored at the home security blog at FamilyHomeSecurity.com.

In today’s world of technology, we are constantly exchanging personal information over email, telephone calls and while browsing the internet. While this has provided us with enhanced methods of communication, it has also spawned the growth of new types of criminal activity. Identity theft is rapidly becoming more common, as many people mistakenly believe that their personal information is not in danger of being stolen. However, in reality, over 9 million people have their identities stolen each year, in the United States alone. To help protect yourself, it’s best if you are aware of certain things that you can do to help protect yourself against identity theft.

Identity Theft Prevention Tip 1: Purchase a Paper Shredder.
Many criminals obtain enough personal information from a person’s garbage to steal their identity. For example, many thieves search the garbage of high-end apartments and housing complexes, searching for important documents. With a bank statement, a utility bill, a pre-screened credit offer or another piece of “trash”, a thief may have all he needs in order to steal your identity.

To prevent this, purchase a heavy-duty paper shredder. This way, you can make sure that any important documents that you put in your trash won’t be able to be used to steal your identity. If you wish, you can also purchase a shredder that is able to destroy CD’s, discs and DVD’s, if you have any stored personal information on them that needs to be disposed safely.

Identity Theft Prevention Tip 2: Modify Your Bank Checks.
Many people don’t realize that the information that is printed on their bank checks could potentially be used in identity theft. For example, many people have their social security number or telephone number printed on their checks. While it’s often required to have your address on a bank check, any other information is unnecessary. If a potential thief got hold of one of your bank checks, he could have the name of your bank, your account number, your phone number and your social security number. This would be more than enough information for your identity to be stolen.

Identity Theft Prevention Tip 3: Screen Your Phone Calls.
When first setting up an account with a bank, credit card company or utilities company, they may require personal information (such as your mother’s maiden name, social security number, past residences, etc) when activating your account. However, once this information is on file, most companies will not contact you again to “confirm” this information. Be wary of any phone calls from anyone who claims to be a representative from a company, asking for personal information. It’s highly possible that this could be a fraudulent phone call.

Identity Theft Prevention Tip 4:Secure Your Computer.
Many people think that storing personal information (such as bank account numbers, email passwords, etc) on their computer automatically makes it “safe”. However, there are many different computer viruses that are designed to give identity thieves access to all of your information. To prevent this, it’s best if you protect your computer with a firewall. A firewall will make it difficult (if not impossible) for your computer to be infiltrated by a potentially dangerous virus.

If you have Windows Vista or Windows 7, your computer has an effective built-in firewall already installed. However, you still need to make sure that this firewall is enabled. Navigate through your Control Panel to “Windows Firewall” or “System and Security”. Make sure that the firewall is enabled and protecting your computer. If you don’t have a firewall, there are several different programs you can purchase to protect your computer. There are also free firewalls that you can use to help protect your computer.

Identity Theft Prevention Tip 5: Screen Your Emails.
Many identity thieves will attempt to get you to surrender personal information by email. You may get an email stating that you’ve won a prize of significant value, or have been “specially selected” to receive a cash reward. Other common scams involve emails that state that you have won a foreign lottery, or are the benefactor of the funds of a deceased distant relative. Don’t be fooled! These emails are usually designed to ask for your information in order for you to receive your prize. While some of these emails are simple spam emails (designed to promote a product, charge “monthly subscription” fees, etc), it’s very possible that by replying to these emails, you could have your personal information stolen.

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This post is originally authored at the home security blog at FamilyHomeSecurity.com.

The idea of typing your credit card number onto a webpage can make you nervous. But it shouldn’t. Although very occasionally e-commerce websites get hacked, using a credit card for online shopping actually offers you some protection should you ever get ripped off. Luckily, when online fraud is involved many banks and merchants will credit you back the amount owed provided you catch the mistake in time. However as always, prevention is the best protection so here we provide some general information to keep your credit card details safe when you are shopping online.

Online Shopping Tip 1 – Make sure the site is legitimate

Before you purchase anything you should check over the site’s details to ensure it is legitimate so you may shop with confidence. Check that:

-The store accepts credit card or PayPal payments. Never send cash or a check to a website.

-Site uses SSL encryption to protect customer data en route to the site.

-Site sports logos from trusted authorities such as VeriSign and the Better Business Bureau Online.

-Store lists its real world location, including phone numbers and a street address.

-Site offers a detailed privacy policy describing the information it collects and what it does with the data.

Even after checking over these steps you’ll need to monitor your credit card account carefully to make sure nobody is adding bogus extra charges to your account after you make your purchase. Most banks put a limit on how long after the initial purchase that you can dispute a charge, so examine your monthly statements or check your account more often.

An alternative while shopping online is to get a separate credit card with a lower limit to use exclusively for online purchases. This will lower your risks of being badly ripped off.

Online Shopping Tip 1 – Extra security measures to protect your credit card details

If you’re still unconvinced and want to feel more secure shopping online there are measures you can take.

You can get a disposable credit card number. Citibank (www.citibank.com/us/cards/tour/cb/shp_van.htm) and Discover (www2.discovercard.com/deskshop)are services that work for a single transaction so even if the card it stolen it will be useless to be further ripped off.

Another alternative are merchants such as Amazon.com who will let you place your order online and then provide your credit card details over the phone.

A final option is to sign up for a PayPal account (www.paypal.com). PayPal will act as the middle man between you and the seller so that you credit card details never directly pass hands.

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