I'm An Identity Theft Victim...Now What?

If you're identity has been stolen, here is what you should do...

1. Place a Fraud Alert on your credit file.

Contact any one of the three major credit bureaus - Experian, Equifax, TransUnion - and place a Fraud Alert on your credit file. This can help prevent anyone else from opening new credit in your name. Once you've placed a fraud alert with any of the three major credit bureaus the other two are automatically notified.

However, there is a downside to this. Should you at any point - during the fraud alert period - decide you want to open up a new credit account, you will have to verify your identity. The credit company will have to contact the credit bureau, the credit bureau will contact you - usually at home, and then you have to give them the ok. You can't get instant credit at the counter anymore, but no one else can either.

Note: Fraud alerts and victim statements expire; you need to renew them periodically. Ask each bureau about its policy.

2. Close the Accounts.

Close the accounts that have been opened or accessed fraudulently. These include new utility services, credit cards, bank accounts, service memberships, car loans, ISPs, loan accounts, etc. Place a stop on all checks so that they don't clear the bank.

Use the FTC's Identity Theft Victim Affidavit when disputing new unauthorized accounts.

Note: When opening new accounts it would be a good idea to use a PIN or Password on the account so you can access the information securely.

3. File A Police Report.

File a police report with your local police department or where the identity theft took place. Make sure you get a copy of the report so that you can submit it to your creditors and others as proof of the crime.

Note: Be prepared to give details when filing the report. Follow through with the investigation.

4. File Your Complaint.

File your complaint with the Federal Trade Commission. Law enforcement agencies use the FTC database of identity theft cases for investigations. Filing a complaint also helps them learn more about identity theft and the problems victims are having so that they can better assist you.

5. Stay Organized.

Once you have completed the 4 steps above, don't just sit back and relax. It's not even close to over. It's time to stay organized and be informed as to how your issue is being handled.

Call the investigators, call the police station, ask questions, take notes, keep your files in order.

Guilty Until Proven Innocent

In the eyes of your creditors, you're guilty. You have to prove that you're innocent, that you are a victim. With any other type of theft you'd be shown empathy and sympathy...Not with Identity Theft!

Your creditors don't know whether you're telling the truth - that you're an identity theft victim - or just trying to avoid paying them. They want their money - As if you didn't know. :) They will always take the offensive.

Don't Let It Happen Again

Keep in mind someone out there has your information. Your social security number, date of birth, driver's license number, maiden name, parents' names, address, phone numbers, etc., etc.

You're information is out there. Protect yourself from future occurrences by taking these precautions.

Get Your Free Credit Report...On The Bureaus

You'll probably read everywhere that one of the best ways to prevent Identity Theft is to check your 3 credit reports regularly. That's true, but where do you get them from?

Many companies will try to sell them to you. Others will offer you a free credit report provided you sign up for their credit monitoring services.

Those are not the only options. You can get your 3 credit reports absolutely free with no strings attached from http://www.annualcreditreport.com/.

AnnualCreditReport.com is a centralized website provided by Experian, Equifax, and TransUnion to allow consumers access to their credit report once a year for free.

Check it out today and take proactive steps to protect yourself.

5 Common Identity Theft Scams - Who's In Your Wallet?

Thieves are always coming up with new ways to commit identity fraud. Stay up-to-date with common tactics to protect your personal information.

Some of the most common and effective methods include:

1. "Phishing" Fraud Scams
You may have received an email with a message from the "System Administrator" telling you to perform some urgent maintenance on your account.
The most common emails take you to fraudulent sites that appear to be those of Citibank, PayPal, eBay, Bank of America, Wells Fargo, the Internal Revenue Service (IRS), and America Online (AOL).

If you ever get message like this be very, very, careful and report it to that institution right away.

2. "You've Won a Prize!" Lottery Fraud Scam
If you ever get a phone call and someone tells you that you have the chance to receive a major credit card, a prize, or other valuable item, but they ask you for personal information – such as your Social Security Number, credit card number, driver’s license number, or mother’s maiden name – ask them to send you the information in writing.

If they won't do it, tell them you're not interested and hang up.
If they will, review the application carefully and have your attorney review it before you actually decide to act on it.

3. Nigerian Email Scam
This scam has been used for over ten years and is sent out to victims via letter, e-mail, and fax. It consists of a message stating the sender has a large sum of money, usually around 35 million, and needs help transferring it out of Nigeria, or some other place.

As a reward for your help, the sender promises to pay you a few million dollars.
These emails are constantly being modified. A new one message supposedly comes from a rich Iraqi businessman trying to get 120 million dollars out of the country. Here's a sample:

"We are christian and my father happens to be one of the few rich christian in iraq. One thing we ask from you,on behalf of my mother and sisters, is to please indicate your interest in helping us secure a safe place for the bulk of our fathers funds in the bank over here before the tyrant iraqi government clamp on it.”

4. Auction Fraud (eBay and Yahoo Auctions)
Auction sites have recently been bombarded with phony auctions by sellers who have hacked into real eBay customer accounts.
What happens is the hacker attacks a legit eBay members account and places items for sale in which the hacker does not intend to sell.

If you see that dream car of yours for sale for $300 buy it now, I would seriously try and contact the seller and arrange a physical meeting before sending any money.

5. Credit Repair Fraud Scams
Credit repair scams offer to “fix” your credit by erasing accurate negative information from your credit file so you can qualify for a credit card, auto loan, home mortgage, or a job.

The scam: The scam artists who promote these services can't deliver. Only time, a deliberate effort, and a personal debt repayment plan will improve your credit.

The companies that advertise credit repair services appeal to consumers with poor credit histories.

Be Careful
Ultimately, you're just going to have to be careful when going through your emails and when browsing the net. Of course, not everything is a scam and not everyone is out to get you.

But you can never be too cautious. Identity Theft can cost you thousands of dollars and hundreds of hours to repair.

17 Identity Theft Prevention Tips

Follow these identity theft prevention tips to minimize your risk of becoming a victim:

1. Carry only the identification information and the number of credit and debit cards that you'll actually need.
2. Keep your personal information in your home secure, especially if you have roommates, employ outside help or are having service work done in your home.
3. Guard your Social Security number. It can be used to open new accounts, credit cards, or even get a job in your name.
4. Cancel unused credit card accounts.
5. Do not carry your SSN card; leave it in a secure place.
6. Ask about information security procedures in your workplace or at businesses, doctor's offices or other institutions that collect personally identifying information from you.
7. Order your credit report and monitor it often.
8. Remove your name from the marketing lists of the three credit bureaus to reduce the number of pre-approved credit offers you receive.
9. Buy a crosscut shredder. Shred all old bank and credit statements and credit card offers before throwing them in the trash.
10. Make copies of the contents of your wallet - in case your wallet or purse is stolen.
11. Do not leave mail with personal information in your mailbox.
12. Never give your credit card number, social security number, or other personal information over the phone unless you trust that individual and/or business.
13. Protect your personal information on your computer by installing a firewall and updating your virus protection. Visit http://www.firewalls-and-virus-protection.com to learn how.
14. Do not print your Social Security or Driver's License number on your checks.
15. Carefully examine the charges on your credit card and bank statements.
16. Subscribe to an identity theft prevention service that will notify you whenever someone applies for credit in your name.
17. Place passwords on your credit card, bank, and phone accounts.

Of course, this is not an exhaustive list. If you'd like to include something in this list feel free to comment.

Phishing - Identify It and Resist the Bait

Phishing: (fish'ing) (n.)

This is when someone sends you an email falsely claiming to be a legitimate business - like your bank or credit card company - in an attempt to scam you into giving them your personal, private information that they can use to access your accounts.

Phishing, also referred to as brand spoofing or carding, is a variation on “fishing”, the idea being that bait is thrown out with the hopes that while most will ignore the bait, some will be tempted into biting.

It's an online form of Identity Theft. The email then directs you to visit a fraudulent website where you are asked to provide maintenance or update your personal information, such as:

• Social Security Number
  
  
• Passwords or PIN numbers
  
  
• Bank Account Numbers
  
  
• ATM,Debit, or Credit Card Numbers
  
  
• Credit Card Validation Codes
  
  
• Your Phone Number and Address

Learn How To Identify It

Phishing is so dangerous because the average email user does not know how to identify a fraudulent email.

Here are some things to keep in mind:

1. Legitimate businesses do not ask you for your personal information by email.

Sometimes it may be necessary to update your information, but most businesses will alert you to this when you sign in to your account through the business's website. So - just as you wouldn't provide personal information to telemarketers and people you don't know - you shouldn't provide it to anyone asking you for that in any email.

2. Fake email messages are often not personalized.

When your bank, credit card company, loan company, etc. sends you an email it is usually personalized. It's only common courtesy to use your name. So this would also be an indication that the email is a spoof.

3. A link in the email is masked.

This is the part that confuses most people. "Masking" a link is simply asking you to click on a link that directs you somewhere else than what you thought you were clicking on.

A simple way you can catch this is by moving your cursor over the link and looking at the bottom of your browser on the status bar. This will show you the actual website the link is going to take you to.

4. The "lock" in the status bar is not engaged.

You need to make sure that the lock in the status bar is locked. This ensures you that the page you are on is secure. If it doesn't have the lock, then any personal information that you put on there could be compromised.

Here Are Three Things To Keep In Mind

1. Never reply to email messages that request your personal info.
2. Never click on suspicious links. Move your cursor over the link to see where it is directing you.
3. Make sure the site is secure. Check the lock on the status bar.