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How to Prevent Identity Theft Fraud

Unfortunately, Identity Theft, the fraudulent use of a person’s identifying information, is one of the fastest growing crimes in America. Credit thieves are most interested in stealing credit card and social security numbers, as well as other information like date of birth and bank account numbers.
Author: James Miller	Article Tools:

Unfortunately, Identity Theft, the fraudulent use of a person’s identifying information, is one of the fastest growing crimes in America. Credit thieves are most interested in stealing credit card and social security numbers, as well as other information like date of birth and bank account numbers. Credit card numbers are used to buy merchandise or get cash advances, but the Federal Trade Commission (FTC) reports that credit thieves prefer to open new accounts with stolen information. 

Consider the following suggestions to protect yourself and your credit.

· Review all account statements carefully and know when to expect bills. Credit thieves sometimes try change account addresses. Also, guard your mail from theft.


· Carry as few cards as possible. Be careful with receipts that may have your account number on them. Do not have your social security number printed on checks and only carry your social security card when needed. 

. Do not give out personal information over the telephone, Internet or mail unless you are certain who you are dealing with.

· Protect PINs and other passwords. Keep statements and a reference list of account numbers, with telephone numbers, in a safe place. Use this if any are stolen to cancel the accounts. 

· Sign new credit cards immediately when you receive them.

· Order copies of your credit report from each of the three major credit reporting agencies once a year. Your credit report is available for a small fee (if there has been fraudulent activity, your report is free). Here are those agencies:

Equifax for a report: (800) 685-1111
to report fraud: (800) 525-6285
Experian for a report: (800) 397-3742
to report fraud: (800) 311-4769
TransUnion for a report: (800) 916-8800
to report fraud: (800) 680-7289

Opt out of pre approved credit card offers to lower risk. 

The credit bureaus offer a toll-free number that enables you to “opt-out” of having pre-approved credit offers sent to you for two years. Call 1-888-5-OPTOUT (567-8688) for more information. When you call, you’ll be asked for personal information, including your home telephone number, your name and your Social Security number. The information you provide is confidential and will be used only to process your request to opt out of receiving pre-screened offers of credit. 

In addition, you can notify the three major credit bureaus that you do not want personal information about you shared for promotional purposes—an important step toward eliminating unsolicited mail. Write your own letter or use the sample letter on the back of this Alert to limit the amount of information the credit bureaus will share about you. Send your letter to each of the three major credit bureaus:

Equifax, Inc.
Options
PO Box 740123
Atlanta, GA 30374-0123

Experian
Consumer Opt-Out
701 Experian Parkway
Allen, TX 75013

TransUnion
Name Removal Option
P.O. Box 505
Woodlyn, PA 19094

Opt out information provided by the FTC visit for more information at http://www.ftc.gov/bcp/conline/pubs/alerts/optoutalrt.htm

If You Become a Victim

If your wallet or purse is stolen, or you believe someone has stolen your credit identity, you should: 

. Contact each institution where you have a compromised account. Closing the accounts is usually advisable. Accounts you will keep open should be restricted with a password.

· Contact each of the three major credit reporting agencies and have them place a fraud alert on your file. Require that you must be contacted before any new accounts are opened in your name.

Equifax for a report: (800) 685-1111
to report fraud: (800) 525-6285
Experian for a report: (800) 397-3742
to report fraud: (800) 311-4769
TransUnion for a report: (800) 916-8800
to report fraud: (800) 680-7289

· Order and scrutinize your credit report-it is free to victims of fraud-and make sure no fraudulent accounts have been opened. Also, check the section that lists “inquiries” and request that any inquiries from companies that opened fraudulent accounts be removed.

· File a report with your local police department.

· Contact the Federal Trade Commission’s Identity Theft Hotline at 1-877-ID-THEFT (438-4338). The FTC puts the information in a secure consumer fraud database and shares it with local, state, and federal law enforcement agencies. The FTC will assist you in any further steps to take. 

Remember you need to treat your personal identity as one of your prized possessions and do whatever it takes to keep it as safe as possible.

About Author

This article was written by James Miller a 10 year veteran of the banking industry. He is a regular poster on http://www.MyChangingLife.com and you may find more from him in their finance section. MyChangingLife.com is a lifestyle site with information on diet, beauty, health, fitness, finances, home based businesses and much more!

Article Source: http://www.1888articles.com

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