Identity Theft

How Identity Theft Impacts a Victim

Identity theft is occurring more and more often and can happen anywhere, anytime to anyone. It happens when somebody else uses your personal information, like your Social Security Number.

Examples of how stolen identities are used include:

• obtaining credit cards and loans
• opening utility accounts
• renting an apartment
• purchasing a car or a home
• making other large purchases

Fortunately, victims of identity theft are not responsible for the debts accumulated by the imposters. However, repairing the damage to your credit and reputation can be a frustrating process that takes months or even years.

Tips to Protect Your Identity

There are many things you can do to protect your identity. Listed below are some of the basics:

1. Monitor your credit report. The more frequently you monitor your report for any fraudulent activity, the less time somebody has to take advantage of your identity. You can do this (less frequently) for free, or you can pay to use a monitoring service.
2. Shred everything. Shred anything and everything that shows any of your financial information, including credit card receipts, pre-approved credit card offers, old bank statements, etc...
3. Protect your PIN. Be careful that nobody is watching when you enter your PIN – at the ATM, at a register or on your phone.
4. Protect your SSN. DO NOT carry your Social Security Card (or anything with your SSN written on it) in your wallet. It's especially important not to carry your SSN and your ID in the same place. Also, never use your SSN as an account number and never write it on checks. Only give your SSN out when necessary and make sure that nobody can overhear you or read the written number.
5. Keep your address current. If you are moving, make sure to notify all of your creditors immediately to update your address. This will prevent your personal information from being sent to the wrong address.
6. Minimize your credit cards. Do not carry more credit cards with you than you need. (The less you carry, the easier it is to keep track of them.) Close any credit accounts that you are not using – destroying your card doesn't close your account.