What is Identity Theft?

What is identity theft?

Identity theft is when someone other than you uses your personal information to fraudulently apply for bank accounts, loans, credit cards, services or other financial items. Identity thieves can gain access to information you share over the internet or phone, un-shredded mail left in the trash, or by stealing credit/debit cards, Social Security cards, or Medicare cards.  Elderly people living alone are particularly susceptible to fraud.

How did they get my information?

Protect yourself from identity theft.  Your postal mail can be stolen or forwarded to a new address; some thieves will “phish” for information by impersonating a maintenance person, a banker, a family member in need, a charity or a state worker.

How can I protect my information?

  • Unless YOU initiated the call and trust the business, never give out your personal identification information over the phone
  • Store all your personal and financial information in a safe and secure place
  • Before divulging any identifying information, find out why it is needed, how it will be used, and if it will be shared
  • Common scams center around health insurance, home improvement, and investment opportunities – if a deal sounds “too good to be true”, it probably is; get more than one quote and only hire companies and contractors that are licensed and insured
  • Old bank statements, receipts, bills, canceled checks, credit card offers/applications, insurance forms, and any other pieces of mail with private information should be shredded before it is recycled or thrown away
  • Get to know the frequency of your typical bills; if your bills don’t arrive on time, ask the post office about your mail
  • All inactive financial accounts should be closed
  • Only discuss your financial plans in private with people you know
  • Do not add other people’s names onto your accounts, your property or for power of attorney unless it is part of a well-thought-out plan and you can limit their actions as needed
  • Do not write or have your personal checks printed with your Social Security, Medicare, or driver’s license numbers
  • Immediately report any lost or stolen credit or debit cards
  • Review every credit card statement for both large and small purchases; make sure that you know about every purchase and immediately report ones that were not made by you to the issuing card company’s fraud prevention desk
  • Annually obtain a copy of your credit report from all the major credit reporting bureaus, make sure all the information is accurate, report information that is incorrect to that bureau

What do I do if my identity has been stolen?

  • Immediately file a police report
  • Contact your creditors of any accounts were used without your knowledge or opened fraudulently; write a follow-up letter to the creditor’s fraud desk
  • Contact the major credit bureaus and place a “freeze” (fraud alert) on your credit, making it difficult for anyone to open up new accounts, mortgages, lines of credit in your name

Visit www.identitytheft.gov for more information about ways to protect yourself and your loved ones.