senior director of TransUnion’s Fraud Victim Assistance Department. A recent report by the FTC revealed that 29% of identity theft victims are 18 to 29, 25% are 30 to 39, and 20% are 40 to 49. “If you have good credit, you are at risk of becoming an identity theft victim,” Terry says. “Thieves are looking for a good credit history. It allows them to work faster and do more damage.” But, those without stellar credit are at risk, too.
The most common types of fraud associated with identity theft are opening new credit card accounts and taking over existing ones. But it doesn’t stop there. Multiple bank or credit card accounts may be opened at different banks. Thieves also use personal information to steal and transfer money, write counterfeit checks, and obtain employment.
“Most thieves obtain information via low-tech methods such as Dumpster diving or internal employees,” says May. Businesses targeted most by Dumpster divers — people who sift through trash in search of bank and credit card statements, pre-approved credit offers, and tax information — include banks, hospitals, restaurants, hotels, and travel agencies.
Being denied credit or employment is another common method of discovery for identity theft victims. If you receive calls or letters indicating that you have been approved or denied credit for which you never applied, unusual credit card or utility bills in your name, or a credit card statement listing unrecognizable purchases, you may have been victimized. Also, be suspicious if you no longer receive credit card statements or other important mailings.
TAKE ACTION
Scott’s cousin obtained her information from her wallet, which Scott kept in open view in the apartment they shared. To protect yourself, follow these tips from the experts:
“Never give out personal information over the phone,” says Jonathan Cherry, spokesperson for the Secret Service. “No credit card company will ask you for that information via phone or e-mail.” Likewise, never give your personal information to anyone unless it is required.
Keep track of your monthly statement. One reason criminals get away with identity theft is that the victim doesn’t check financial statements for mistakes. Make sure to read statements carefully and dispute any inaccuracies immediately.
Limit what you carry in your wallet. Avoid carrying your Social Security card, birth certificate, passport, or seldom-used credit cards. Also, keep your ATM receipts with you instead of throwing them away. This prevents thieves from discovering your account balance and possibly the last four digits of your debit card.
Check your credit reports. “There is an inquiry section in your credit report that lists everyone who has granted you credit,” says Robin Holland, senior vice president of operations at Equifax. As of Sept. 1, 2005, can get a free, annual credit report www.annual creditreport.com from each of the three credit agencies.
Secure your mail. “Never leave mail in your box,” says Holland. It is safer to leave it in postal service mailboxes. Instead of having new checks mailed to you, pick them up from the bank.
Shred or tear up any documents that contain personal information. All