Identity theft; what you need to know
Why is it that life’s lessons are the ones that make the greatest impression on us? It may be that life’s lessons always have some degree of emotional impact on us. We often become subject matter experts after we have learned a hard lesson from experience, and so it is with identity theft.
About six months ago, I received a phone call early in the morning from someone identifying themselves as working for my credit union. They immediately asked me for the last four digits of my social security number and some other personal information which set off red flags. “Who is this,” I demanded, not particularly happy with the early morning call. The caller claimed to be from the card fraud department of my credit union and the caller wanted to know if I had been a commander in the Navy. “No” I exclaimed, still irritated, “give me your name again, and I will call the credit union back and ask for you.”
To make a long story short, someone had contacted my credit union and ordered a copy of my credit card to be overnight mailed to a city and state far from where I live. The credit union complied. Why were they willing to ship my credit card to someone else; someone in another city and state? Apparently, the person who requesting a copy of my credit card knew my password, my social security number, my address and other personal information. Just how did they get my information?
Identity theft is at epidemic levels in the United States. Millions of Americans will wake up one day, as I did, only to find their finances and reputation in jeopardy. The person or persons who stole my identity still have the information, as far as I know, which is very disconcerting. They may have got their hands on it in several different ways. We had a storage unit burglarized and it’s possible that some financial records escaped our attention and found their way into one of the many boxes taken. It may have been a malicious computer bug that scanned my computer for information from tax returns and other sources, and dutifully returned them to its criminal master. It could have been someone who hacked into the credit union’s computers.
Public knowledge of identity theft is growing in direct proportion to the crime, but it’s worth repeating a few safeguards so that you are not a victim. If you don’t own a shredder, buy one. A good rule of thumb is to shred anything that has more personal information than just your name. If something includes your name on it, use a black marker and mark out your name. Everything else should find its way into the trash in small strips or pieces.
Shredding your personal documents and mail is a good start, but it’s not enough. All of your outgoing mail, especially envelopes with checks, should be sent directly from the inside drop box at the post office. Do not trust it to an outside mailbox or cluster box. Where I live, mail theft is common. It is most often tied to drug labs and those who perform ‘check washing.’
When someone calls you on the phone and claims to be from your bank or credit union or insurance company and requests any personal information, stop and don’t say another word except ’sorry, but I’m not giving you that information”. Chances are that the caller is not from your financial institution. The methodologies of identity thieves are well known to the financial services community and most financial firms will not call you and ask for personal information.
Just as important as a guarded approach to incoming phone calls is a cautious approach to incoming e-mails. The term ‘phishing’ refers to e-mail solicitations for your personal information which are not genuine. These are e-mails that claim to be from your financial institution or even a government or law enforcement agency; they are bogus. Providing any information in response to a phishing e-mail can be a first class ticket to misery.
Order your credit report from the three leading credit reporting agencies at least annually. Some identity theft may not become evident immediately and your credit report may be the first clue that someone has opened an account in your name. At the same time, you may find information on your credit report that you want to dispute just the same, ahead of a mortgage or other loan application. If you are the victim of identity theft, you can put a 90 day, and even a 7 year, fraud alert on your records with the credit reporting agencies. This will trigger an alert so that you know someone is attempting a credit transaction in your name.
Keep your personal records at home under lock and key. According to police, many home break-ins are not for the purpose of stealing TV’s, stereos and jewelry. They want your computer hard-drive, your file cabinet contents and your check book. Make certain that all of these items are secured, in a lock box or safe.
There is more you should know if you are the victim of identity theft. Besides placing a fraud alert with the credit agencies, you should file an identity theft police report with your local police. Some police departments are more receptive to this request than others, but it is an important first step to proving what has occurred and dealing with cleaning up the mess.
The day that I learned someone had my personal information; I spoke to a detective in Ohio who specializes in identity theft. He had alerted my credit union when an astute overnight delivery driver contacted police about multiple credit card deliveries to the same phony address. The detective told me that it can take 300 hours of letter writing and phone calls to undo the havoc that an identity theft can cause. It was a chilling message to realize that my future may be consumed in such a frustrating pursuit.
There is one other action you must take if you find out that an identity thief has absconded with your personal information. Immediately go on-line or get on the phone with all financial accounts and change the passwords, security questions and user names. Record all of this information in a safe place. The thief, in my case, had all of my information and I later found out that they even had my driver’s license number. I went to the department of motor vehicles as soon as I could to get a replacement drivers license with a new license number.
Identity theft and its prevention is a tough lesson to learn first hand. We feel bad for the other person who has fallen victim, and then we are shocked when we find out that our trusted information has been compromised also. Don’t learn this life lesson yourself when preventative measures are known. Take steps today to protect yourself and your family. It can be an emotional experience which will stay with you for a long time.
Copyright 2007 K Richard Douglas
