Guard
Against Identity Theft:
Stay informed to minimize your risk.
Identity theft is the fastest growing crime
in America. According to the Federal Trade Commission, the
number of identity theft incidents reached 9.9 million in
2003. These crimes are estimated to have taken the average
victim $500 and 30 hours to resolve.
From stolen credit cards to total identity
kidnapping, these ugly and prevalent crimes are hard to
prevent and often difficult to correct. Although it is hard
to truly avoid becoming a victim of
identity
theft, there are a few ways you can guard against this
damaging crime.
Types of identity theft
Identity theft crimes range from purse snatchings to kingpin-style
fraud rings. The definition of identity theft is a crime
in which an imposter obtains key pieces of personal information,
such as a Social Security number, in order to impersonate
someone else. Identity theft can occur when someone takes
your mail, steals your wallet or swipes your records from
an institution. Most cases can be resolved fairly easily
if they are caught early. Creditors and banks usually hold
you responsible for only the first $50 of fraudulent charges.
The most serious cases of fraud can take several years and
many resources to resolve.
Preventative measures
In this world of smiling strangers, it can be tough to keep
your identity safe. The best security policy is to be aware
of fraud and cautious about where you share personal information.
Check your account statements carefully each month and keep
an eye out for suspicious activity on your
credit
report. A paper shredder can also be a powerful tool
for making sure personal information and pre-approved credit
offers don't end up in the wrong hands.
If your identity is stolen
If you suspect that your identity has been stolen, the first
step is to get all the facts about the damage. Become your
own detective-search your
credit
report and bank accounts for clues. Ask your creditors
to immediately cancel any fraudulent charges and consider
putting a security alert on your credit report. If the theft
is serious, file a police report. If fraudulent records
start to show up on your credit report, send letters of
dispute to the reporting agencies with copies of documentation
supporting your claim. Signing up with a
credit
monitoring service will inform you of changes to your
credit. It may take a while to fully recover the security
of your accounts, but it's crucial that you don't let the
fraud escalate.
Get
your credit report and score NOW!
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