Identity Theft

• Federal Trade Commission (FTC): Your National Resource for Identity Theft
• About Identity Theft:
  • How can someone steal your identity?
  • Identity theft occurs when someone uses your personal information such as your name, Social Security number, credit card number or other identifying information, without your permission to commit fraud or other crimes.
  • Identity theft is a serious crime. People whose identities have been stolen can spend months or years - and their hard-earned money - cleaning up the mess thieves have made of their good name and credit record. In the meantime, victims may lose job opportunities, be refused loans, education, housing or cars, or even get arrested for crimes they didn't commit.
  • In 2003, 42% of all complaints to the FTC were related to Identity Theft (up from 40% in 2002).
  • Why is it rising? Because it is still a misdemeanor in many states, and there are no Federal Regulations yet.
  • The FTC received over 1/2 million consumer complaints during 2003 calender year. Of these, over 300,000 were related to consumer fraud, and over 200,000 were related to Identity Theft.
  • The most common ID Theft is related to credit card fraud, followed by phone or utility fraud, bank fraud, employment-related fraud, government document or benefit fraud, and loan fraud.
  • If you think your identity has been stolen, here's what to do now:
    • Contact the fraud departments of any one of the three major credit bureaus to place a fraud alert on your credit file. The fraud alert requests creditors to contact you before opening any new accounts or making any changes to your existing accounts. As soon as the credit bureau confirms your fraud alert, the other two credit bureaus will be automatically notified to place fraud alerts, and all three credit reports will be sent to you free of charge. (http://www.consumer.gov/idtheft/recovering_idt.html#9)
    • Close the accounts that you know or believe have been tampered with or opened fraudulently. Use the ID Theft Affidavit when disputing new unauthorized accounts.
    • File a police report. Get a copy of the report to submit to your creditors and others that may require proof of the crime.
    • File your complaint with the FTC. The FTC maintains a database of identity theft cases used by law enforcement agencies for investigations. Filing a complaint also helps us learn more about identity theft and the problems victims are having so that we can better assist you. (https://rn.ftc.gov/pls/dod/widtpubl$.startup?Z_ORG_CODE=PU03)
• Identity Theft Protection Tips: (Many of these suggestions are idealized, but consider them.)
  • Do not use SSN for Driver's License.
  • Do not use SSN for Student ID.
  • Do not use SSN or DOB on checks.
  • Do not carry SSN or SSN Card with you.
  • Check Bank Statements, Credit Card Reports/Statements.
  • Check Credit History (Credit Report) periodically with a regular schedule, depending on your level of comfort and convenience (e.g., every month, every semester, every 6 months, or every year). This could be done at a Credit Report Website or Credit Watch Services.
  • Only do shopping with established companies or trusted vendors.
  • Buy an inexpensive shredder and use it on all discarded paperwork.
    • Identity Theft is typically a very low tech crime. Identity is usually stolen from discarded mail and paperwork in trash bags. The shredder is the best defense against Identity Theft.
• What we can do as consumers:
  • Federal Law prempts State Law.
  • We need to make Identity Theft a felony, and a federal offence, instead of just a state offence.
  • Identity Theft is still a misdemeanor in Missouri. Put pressure on officials to change this.
  • Should include a Free Check per year of Credit Report.
  • FACT Act is a good start.
  • Put pressure on officials to put pressue on Credit Card companies to verify new applicants and not make consumers responsible (and suffer) for their corporate marketing mistakes. They need to be held accountable for their actions too. Otherwise, it seems like they are accomplices in fraud, or at the least, negligent.
  • Use Credit Watch services or check with one of the Credit Report Websites.
  • Making Identity Theft a felony will also, help fight organized crime interested in Wholesale Identity Theft. Orgainzed crime may bribe or coerce credit company employees to sell ID numbers, or may plant moles in credit companies. Be cautious using temp services in sensitive areas with access to account numbers.

Related Links:

• If you suspect Identity Theft, contact the FTC at http://www.ftc.gov/
• This information can also be found at http://www.consumer.gov/idtheft/