Facts About Identity Theft

While “dumpster diving” may sound more like a new and trendy sports movement, it is just one of many methods thieves use to gain access to personal information - Your personal information - thrown out by you, dug up by dumpster divers, literally digging through your discarded trash and then used for loan applications or big ticket purchases. The United States Secret Service estimated that as many as 700,000 people were the victims of identity theft in 2000 and the criminals’ resourcefulness to obtain personal information is growing proportionally with the number of identity theft victims. In addition to dumpster diving, consider the following methods as first steps to identity theft:

• They obtain credit reports by abusing the employer’s authorized access to credit reports or by posing as a landlord, employer, or someone else who may have a legal right to the information.
• They obtain the information from businesses/institutions through either stealing the records or bribing an employee who has access or through hacking into computers.
• “Skimming” is known as a practice of using a special information storage device in order to obtain credit or debit card numbers during processing
• They steal wallets, purses, bank-or credit card statements, new checks or tax papers and help themselves to your bank account.
• Completing a “change of address form” is a method commonly used to divert personal mail to another location where personal information is then obtained and used for illegal purchases.

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Once your identity has been stolen, the information is used primarily for one reason: To mess with your bank account. The identity thief will most likely buy high value items with your credit card and resell the item. A new bank account might be opened in your name, and when the bills are not paid, the delinquent account is reported on your credit report. If the mailing address on your credit card account has been changed, the imposter might run up charges, which will not be indicated right away. Your information may also be used to take out loans or to establish phone or wireless services. Bad checks can be written in your name and the thief can even file for bankruptcy under your name to avoid paying debts or eviction. If your name was given to the police during an arrest and the identity thief fails to show up in court, an arrest warrant will be issued for your name.

Preventing Identity Theft

The consequences of identity theft are far reaching and could take months or even years to clear ones name. If a new bank account is opened in your name, it will most likely show up on your credit report. Try to get into the habit of monitoring your credit report for inaccuracies and always exercise caution and prudence when it comes to revealing personal data. In addition, there are several safeguards to prevent identity thieves from using your personal information:

• Passwords

Place passwords on your credit card, phone and bank accounts and renew your passwords periodically. However, make sure that you stay away from those passwords that can be easily cracked, like your mother’s maiden name, your birth date or the last four digits of your SSN. Always secure your passwords and be careful where you leave them in your house.

• Attentiveness

If you are asked about your personal information over the phone or the Internet, don’t give it out unless you can fully trust the other person. Ask questions how the information will be secured and if others have access to it. While identity thieves can be very convincing liars, confirm that you are dealing with a representative of a legitimate organization. You can even simply double check by asking the person’s name and calling the customer service back. As silly as it may sound, guard your trash from theft. Empty your mailbox promptly and deposit outgoing mail in the post office instead of an unsecured mailbox. If you leave town and you foresee yourself not being able to pick up your mail, notify the post office and ask for a vacation hold.

• Your personal computer

Install and update the virus protection software on a regular basis in order to prevent your computer from sending out files or information stored on your computer. Limit file downloads from strangers and look for security repairs online. Install firewalls for high-speed connections, which limits uninvited access to the computer. Whenever you send information via online transactions, look for the lock icon on the status bar, which tells you that your transmission is secure. While laptops are convenient for many reasons, make sure that you avoid the automatic login feature and/or always log off properly. If you switch laptops and you thought you transferred and erased all data from the old hard drive, double check with a “wipe” utility program, overwriting the hard drive and making files unrecoverable.

Hot Topics include:

• Fraud Alert
• Account take-over
• Credit card report
• Skimming
• Phishing

Sometimes, no matter how many precautions have been taken, thieves still obtain personal information from innocent people. There is no guarantee and it can happen to anybody, regardless of how many precautions have been taken.. If you suspect or know that somebody is using your personal information fraudulently, contact one of our lawyers for a free evaluation of your case.

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