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Avoiding Identity Theft  Your identity is one of your most valuable assets. Protect yourself by knowing where your identity is exposed and how to defend it against identity thieves. A small effort on your part to change key habits and practices could keep you from becoming a victim

Identity theft (also known as identity fraud) is the misappropriation of another person's identifying information in order to:
• obtain credit fraudulently from banks and retailers;
• steal money from the victim's existing accounts;
• apply for loans;
• establish accounts with utility companies;
• rent an apartment;
• file for bankruptcy;
• obtain a job; or
• achieve other financial gain using the victim's name.

There are two main classes of economic crime related to identity theft:
> • Account takeover occurs when an identity thief acquires a person's existing credit or bank account information and either withdraws money or makes purchases.
• Victims usually learn of account takeover when they receive their monthly credit card or bank account statement.

In true identity theft, an identity thief uses another person's Social Security number and other identifying information to fraudulently open new accounts for financial gain. Victims may be unaware of the fraud for an extended period of time, which can allow the criminal to continue the ruse for months or even years.

How your identity can be stolen
An identity thief needs only a few strategic bits of information — your Social Security number, your birth date, perhaps your address and phone number — to commit fraud. With this and a fake driver's license (with the criminal's picture where yours should be), the thief can often get instant credit in your name. The criminal may provide his or her own address, claiming to have moved, and thus keep you in the dark. The more accounts the criminals are able to open, the more "evidence" they have that your identity belongs to them.

Your identity is one of your most valuable assets. Protect yourself by knowing where your identity is exposed and how to defend it against identity thieves. Anything you can do to keep criminals away from the following personal data helps to reduce your risk of identity theft.

Here's what identity thieves covet most:
• Your name, address and phone number
• Your date of birth
• Your driver’s license number
• Your SSN
• Your mother’s maiden name
• Your bank account information
• Mail and marketing lists
• Trash and shredding
• Your checks
• Your wallet or purse
• Credit, debit, and ATM cards
• Credit reports and credit files
• Shopping and application forms
• Web sites and email
• Computers and networks
• Passwords and PINs

What methods do identity thieves employ?
Theft of wallets and purses was once the most common way to obtain identity documents and account information. Today, identity thieves attack virtually every area of an individual's life, wherever personal information is stored or sent.
These are among the most common methods:
• Dumpster diving in trash bins for credit card statements, loan applications, and other documents containing names, addresses, account information, and SSNs
• Stealing mail from unlocked mailboxes to get preapproved credit offers, credit cards, utility bills, bank and credit card statements, investment reports, insurance statements, benefits documents, and tax information
• Impersonating a loan officer, employer, or landlord to get fraudulent access to credit files
• Insider access to names, addresses, birth dates, and SSNs in personnel or customer files
• Shoulder surfing at ATM machines and phone booths to capture PINs
• Online sources of personal data, such as public records and fee-based information sites

A small effort on your part to change key habits and practices could keep you from becoming a victim. Anything you can do to keep criminals away from the following personal data helps to reduce your risk of identity theft. Here are some recommendations; (Ignore them at your own peril):

Your SSN
Your Social Security number is the key to cloning your identity. Therefore:
• Do not carry your Social Security card in your wallet. Avoid carrying cards that display your SSN — notably health insurance cards, unless needed to receive care.
• Never give your SSN, credit card number, or other personal data by phone unless you have an existing relationship with the business or agency AND you initiated the call using a verified phone number. Always verify the other party's authenticity.
• Avoid including your SSN on job applications. Provide it only when absolutely necessary — for tax, employment, and student records, stock and property transactions, and so on.
• If a government agency requests your SSN, look for an accompanying Privacy Act notice indicating whether an SSN is required, how it will be used, and what happens if you don't provide it.

Your bank accounts
• Frequent monitoring of your bank accounts will help to detect and stop fraud. Research indicates that the risk and size of fraud loss for consumers who frequently monitor their accounts online is lower than those who don't monitor accounts regularly online. Most financial institutions use online banking to provide free 24/7 access to your accounts.
• Use email alerts in your online banking account to notify you of account activity, such as billpay transactions, balance thresholds, transaction size, and account transfers (both within your bank and between institutions).
• Monitor and reconcile your check activity by viewing check images online. Many financial institutions offering checking accounts provide you with the ability to view the check images online. Regularly viewing these check images online helps stop check fraud.

Reduce paper transactions
• Use online bill pay and e-bills to remove confidential information from the mail and improve tracking of payments. Many financial institutions now offer free online bill pay.
• For all your financial accounts, enroll in online statements and choose to receive your monthly account statements online instead of receiving a monthly paper statement. Research indicates greater than 10% of identity theft is caused by stolen mail or trash.

Mail and marketing lists
• Use a secure locking mailbox or a P.O. Box.
• Never place outbound mail (at work or at home) in an open, unlocked mailbox.
• Never leave mail in your car. During long absences, have mail held at the post office or have a trusted neighbor pick it up.
• Investigate immediately if expected bills or statements from financial institutions do not arrive on time. Be especially watchful in January and April when tax documents are sent.
• Never simply discard "pre-approved" credit offers you receive in the mail. Always shred them.
• To keep pre-approved credit offers from being sent to you, remove your name permanently from the mail offer lists by visiting www.optoutprescreen.com. You can also opt out by calling 1.888.5OPT.OUT (1.888.567.8688). But you’ll need to call again in 5 years.
• Add your name to the National Do-Not-Call Registry at www.fcc.gov/cgb/donotcall. Add your name to name-deletion lists used by nationwide marketers at www.dmaconsumers.org/consumerassistance.html.
• Whenever possible, say "No" to the sharing of your data by financial institutions, credit card companies, and insurance or investment firms.

Trash and shredding
• Shred anything that contains your name, address, or other sensitive data before discarding, using a crosscut shredder — including invoices, receipts, statements, personalized pitch letters and envelopes, catalogs, and pre-approved credit offers.
• Don't discard sensitive documents at work unless you're sure they'll be shredded properly.
• Take your trash out immediately before it is due to be collected. Don't give identity thieves time to go through your trash.

Your checks
• Never let merchants write your SSN on your checks. It's illegal in many states, and it puts you at risk.
• Do not have your SSN, driver's license number, or home phone number printed on your checks. If you have a P.O. Box, use that instead of your home address.
• Pick up new checks at the bank instead of having them mailed to your home address.
• Don't leave outbound envelopes containing payments in a home or office mailbox for pickup, in a car, or in any other place where they might be stolen. Checks can be altered and cashed, and provide the thief with your account information.

Your wallet or purse
• At work, always store your wallet or purse in a safe place. Avoid carrying the following items:
• Your Social Security card (or your dependents')
• Your birth certificate
• Your passport
• Your military identification card
• A driver's license or insurance card with your SSN (or that of a family member)
• A list of your banking information (PINs, logins, passwords, or account numbers)
• Paychecks or pay stubs
• Deposit slips
• More than two credit or debit cards
• Receipts with your full credit card number displayed
• Any card that might store your SSN or other sensitive data on a magnetic stripe, such as a gas card, electronic hotel key, or employee ID.

Credit, debit, and ATM cards
• If a new or reissued credit card that's been mailed to you does not arrive on time, contact the issuer immediately.
• Minimize the number of credit cards you use, and carry only one or two at a time. Cancel unused accounts to reduce your exposure. However, be aware that canceling credit cards may affect your credit score adversely.
• Review your credit card statements, bank statements, and phone bills (including mobile phones) carefully each month for unauthorized use.
• Keep a list or photocopies of credit cards, bank accounts, and investments in a secure place (not your wallet or purse). Include account numbers, expiration dates, and phone numbers for customer service and fraud departments, so you can contact them quickly.

Credit reports and credit files
• Check your credit reports as frequently as possible, at least twice a year. Under the FACT Act, U.S. consumers are entitled to one free credit report each year from each of the three major credit bureaus. For details, visit www.annualcreditreport.com.
• Enroll in credit monitoring to track changes to your credit file. Enroll in fraud monitoring (non-credit database monitoring) to be warned of attempts to alter or acquire your identity data.
• Check your Social Security Statement each year for signs of fraud. The Social Security Administration mails this statement to adult SSN holders about three months before their birthdays.

Shopping and application forms
• Never toss credit card receipts into a public trash container. Always take them with you and shred them at home. Carry receipts in your wallet, not in the bag, so you don't mistakenly throw them out.
• When signing a credit card receipt, note whether your entire account number is displayed, or merely the last four digits. If the entire number shows, cross it out before leaving the signed receipt behind.
• When paying a bill with a credit or debit card, always keep the waiter, cashier, or bartender in view. Pocket-sized "skimming" devices can capture your credit card information for later use.
• When filling out applications for loans, credit, mobile phones, or other services, find out how the company stores and disposes of your data. If you aren't convinced that your information is safe, take your business elsewhere. Some auto dealerships, department stores, car rental agencies, and video stores treat customer applications carelessly.

Web sites and email
• Do not provide credit card numbers or personal information on any web site if you aren't sure the site is authentic. Choose companies with secure transactions and strong privacy and security policies.
• Never open spam and other email from unknown sources — it may contain viruses or other programs that make your computer vulnerable to intrusion.
• Never click on a link in an email claiming to come from a financial institution or business, and never provide personal or account data in response. The email may be a fake sent by "phishing" scammers.
• When entering personal information online, even on well-known web sites, watch for signs that you've been redirected to a "cloned" replica site where your data can be captured without your knowledge (a fraud technique called "pharming"). Such signs include odd error messages, unexpected page design or content, or other strange site behavior.

Computers and networks
• Install a firewall on your home computer to keep hackers out — especially if you connect to the Internet by DSL or cable modem. Install virus protection and keep it updated. Some viruses are designed to send sensitive data to identity thieves from your computer.
• Before disposing of a computer or hard drive, remove data using a strong "wipe" utility program. Do not rely on the "delete" function to remove files containing sensitive information.
• If possible, encrypt sensitive data that is sent or stored in digital form.
• Always store personal files and data securely in your home, especially if you have roommates, employ outside help, or have service work done in your home. (This applies to paper as well.)

Passwords and PINs
• Never use the last four digits of your SSN, your mother's maiden name, your birth date, your middle name, your child's name, your pet's name, or anything else that's easily discovered or guessed. If your financial institution uses the last four digits of your SSN as your default PIN, change it.
• Memorize all your passwords. Combine letters and numbers and change your passwords frequently. Don't record them on anything you carry in a wallet or purse. Ask financial institutions to add extra security to your account by requiring an additional code or password.
• Password-protect computer files that contain sensitive personal or account data.
• Shield your hand at an ATM or when making long distance calls with a phone card. Shoulder surfers may be nearby with binoculars or cameras. Avoid giving personal data by phone in a public place.

Risks of on the Internet and other networks
There are three main threats to the data on your computer:
• malicious software,
• network intrusion by hackers, and
• physical theft.

To protect your computer against viruses, spyware, and Trojan horse programs (which let hackers control your computer), you must use antivirus software — and keep it updated.

To keep intruders out, connect to the Internet through a properly configured firewall, which can be software or device-based; this is especially important if you have an "always on" Internet connection, such as a cable modem or DSL. Avoid using public computers for online banking, email account access, or other sensitive exchanges of information — keystroke loggers, web "cookies," or cached pages may be capturing your data. Similarly, be cautious in sending sensitive data over wireless networks. And be careful what you send via email — unencrypted text and attachments can be intercepted as they travel across the Internet.

Finally, beware of "phishing" and "pharming" scams, which use fake corporate email, redirected web addresses, and "cloned" corporate web pages to plant viruses and con users into providing sensitive information. Never provide identity or account information in response to an email, or if you have any doubt about the authenticity of a web site.

Limit access to your computer to those you truly trust, and use restrictive permission levels to protect sensitive files. Encrypt files containing sensitive information whenever possible, including backup files. And don't forget to protect your computer against physical theft — "password protection" sounds daunting, but is actually easy for a tech-savvy criminal to defeat.

If You Do Become a Victim
While you can take all the precautions to reduce your risk of identity theft, the fact remains that anyone can become a victim. If this should happen to you, the following resolution process steps will help you regain control of your financial identity.

First steps
Begin by contacting key parties immediately to minimize the damage to your finances and your good name, starting with the three national credit bureaus and your own financial institutions and credit card issuers.

Filing a police report
This is a critical step in resolving your identity theft. In addition to filing the report, sign the Federal Trade Commission's Identity Theft Affidavit to be accepted as a new victim account. Some police departments may be reluctant to write a report on a crime of this kind, taking the position that since the creditor suffered the financial loss, you're not the victim. They may insist that the creditor file the complaint. The creditor, however, may choose not to cooperate, calculating that it's not cost-effective to spend time and energy assisting the police. Nevertheless, even if the creditor won't prosecute, insist that the police take a report.

Gathering key documents
Another essential step is the gathering of key documents and data related to your identity and accounts.

Canceling credit cards
The best course of action depends on your circumstances. Your goal is to reduce the risk that a given account will be abused, while maximizing your own ability to use your existing credit accounts. In weighing risks and benefits, keep in mind that if you have recently become an identity theft victim, your situation may make it difficult to obtain new credit in the near future.

Rather than canceling accounts, you may wish to notify the fraud department for each account and have a fraud alert placed. If a credit or debit card (or the data on it) has been lost or stolen, you may wish to cancel that card and have a new card issued that is based on the same account, but has a different number. If you have multiple credit cards, you may decide to cancel some to reduce your exposure. In any event, instruct credit card issuers and banks not to change your address without direct verification from you, in writing, that originates from your present address. You should also monitor closely the monthly statements for any credit card or bank accounts you do decide to keep active.

Changing Social Security number
In most cases, this is not advised. Over the years, that number has been attached to numerous documents, including credit reports and various other private and government records. Moreover, the Social Security Administration is reluctant to issue replacement Social Security numbers except in very complicated or extreme cases.

Other issues to consider
Additional steps that you’ll need to take will depend on your situation. For example, here are a few of the questions that you should ask:
• Were checks stolen or fraudulent bank accounts set up?
• Was your ATM or debit card stolen or compromised?
• Has a thief taken over your mailing address?
• Was your Social Security number misused?
• Was your driver's license stolen?

Building a case against identity thieves
The information that you gather to restore your identity may also be important in other ways. Keeping records current, organized, and secure may make a critical difference in successfully investigating and prosecuting the criminals — as well as winning any civil lawsuit you might file if the perpetrators are identified.

Acquiring Legal Services
Some identity theft victims do require services that can only be performed by an attorney. Such services normally involve going to court to remove liens placed due to fraud and/or criminal warrants resulting from the stolen identity.

Following up
As your life and your finances return to normal, you need to continue monitoring your situation to detect any sign of recurrent fraud. In particular, if your Social Security number has been misused, you should never consider yourself impervious to future abuse.

www.VigilanceandSecurity.com

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