Chances are good that you know someone who has been victimized by the fastest growing crime - identity theft. The Federal Trade Commission (FTC) reported that there were 10 million cases of identity theft in 2002 alone. It’s estimated that someone’s identity is stolen every 79 seconds.
The bad news is with increasing amounts of personal information available to an experienced identity thief, it shows few signs of slowing down. The good news is that identity fraud is now a federal crime with stiff penalties for those who perpetrate these crimes.
Here are a few simple steps you can take now to minimize your risk:
1) Check your credit report annually, if not more often. Most victims of identity theft don’t realize they’ve been victimized until 14 months after the crime. By then the damage is done and you will spend a significant amount of time and money trying to correct it.
2) Keep your Social Security number private. Do not have it printed on your personal checks or drivers license. Do not share it with anyone, including merchants, unless they can provide a good reason for having it. Once someone has your Social Security number they have the key to unlocking your identity and using it fraudulently.
3) Shred offers for pre-approved credit cards that you receive by mail. Do the same with any receipts that contain account numbers or your Social Security number. Identity thieves are not afraid to go “dumpster diving” in order to obtain your personal information.
Identity theft has become the fastest growing crime because it is the most profitable crime. On average, the loss from identity theft is about $18,000.00. Taking these precautions now can you save you from becoming another statistic in the fight against identity theft.
© 2004, http://www.yourfreecreditreportnow.com
James H. Dimmitt
James is editor of "TO YOUR CREDIT", a weekly free newsletter. Subscribe to the newsletter by visiting http://www.yourfreecreditreportnow.com. He is also author of “Identity Theft - How to Avoid Becoming the Next Victim!” available at http://tinyurl.com/bc45
Latest News:
Identity theft-tax fraud crackdown sweeps across the nation
Some 200 actions taken in past week in 23 states including PA
Heartland Bank Selects Identity Theft 911 to Provide Identity Theft Protection, Management and Resolution Services to ...
Heartland Bank has partnered with Identity Theft 911 to provide identity theft protection, management and resolution services as coverage enhancements to customers. This new program provides Identity Theft 911’s LifeStages™ Identity Management and Fraud and Credit Monitoring services to customers and their families, including dedicated access to a fraud specialist for personalized support with ...
IRS Helps Bust 105 People in Massive Identity Theft Crackdown
The Internal Revenue Service and the Department of Justice teamed up for a coast-to-coast crackdown on identity thieves this week.
Targeting children: the young victims of identity theft
From toddlers to teenagers, hundreds of thousands of children are now victims of identity theft and, according to the Federal Trade Commission, most of their parents don't even realize it.