Identity Theft

Identity theft has become one of the fastest-growing crimes we see today. With the ability to commit this crime from almost anywhere in the world, the Identity Thief can run up a debt in your name in no time, and disappear into ‘cyber space’ before you even discover the crime.

And anyone can be a victim. In fact, this writer, a 33 year police veteran, had his identity stolen when his bank debit card was compromised, and used to order over $900 worth of merchandise on the Internet. An honest Internet vendor suspected that the order was fraudulent, and refused to process the order. But damage had been done; it took several weeks to restore the debit card, and the fear of further fraud occurring persisted for months.

If you suspect Identity Theft, you must act quickly. The first thing to do is to contact the financial institution involved. Most credit card accounts list a phone number for reporting fraud, or a lost or stolen credit card. Don’t wait to report the loss of a credit or debit card. Most banks and credit card companies will ‘forgive’ a certain amount of fraud, as long as you make a prompt report.

In addition to notifying your financial institution, you should also contact one of the Credit Reporting Organizations listed below, to place a ‘Fraud Alert’ on your name and Social Security number:

Equifax 1-800-525-6285

Experion 1-888-397-3742

Trans Union 1-800-680-7289

Also, you can place a Fraud Alert on your Social Security number with the Social Security Administration, using their Fraud Line at:

Social Security Fraud Line 1-800-269-0271

And, since you are looking at this page on-line, here is a link that will tell you more about Identity Theft:

 Federal Trade Commission’s ID Theft Web Site: http://www.ftc.gov/bcp/edu/microsites/idtheft/

Senior citizens are often victims of identity crime. Here is some useful advice for seniors:

www.seniorjournal.com/NEWS/Money/Valentine/6-10-05-GreatIdeasForSenior.htm

And, all Americans are entitled to a free annual credit report (www.annualcreditreport.com) from the three major credit reporting agencies: Equifax (www.equifax.com), Experian (www.experian.com), and Trans Union (www.transunion.com).

If you suspect that you have become a victim of Identity Theft, take action as quickly as possible. Notify your bank and/or the credit card issuer, and notify your local police department.