Avoid Identity Theft Scams
What is Identity Theft?
According to the Federal Trade Commission, "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."
Why does Identity Theft happen?
Identity theft occurs primarily as a means to obtain fraudulent financial gain. It can also occur when an individual attempts to thwart detection by assuming another identity. There are several ways that scammers can steal your identity, including in person, online, through social media, and by phone. Thieves can steal your wallet or go through your trash to retrieve account numbers. Online, scammers can sometimes get personal information from public Wi-Fi or through social media, or use “phishing” techniques to get information from you through fraudulent email, texts, or phone calls.
Who is the target?
Anyone, particularly people who are likely to easily provide personal identification such as social security number, credit card numbers, or other unique identifiers.
Why is it increasing?
"Phishing" scams, an email-based scam that attempts to harvest personal financial information, accounts for a large number of identity theft crimes. The FTC estimates that 1 in 20 people who receive a phishing email fall for the scam and provide their confidential information! The FTC also states that identity theft is the fastest growing crime in America.
How do I prevent becoming a victim of identity theft?
Keep informed. Visit the Federal Trade Commission's website at http://www.consumer.gov/idtheft/ for more information.
Always be cautious when providing your personal financial information and ensure the request is legitimate. Do not pre-print or hand-write your Social Security Number on checks. Do not provide personal financial information if prompted to do so by an unsolicited email—no legitimate business would lightly request that information. Be aware of your surroundings and think before you immediately respond to requests that may seem suspect, so you can make sure they are legitimate. Do not answer phone calls, texts, social media messages, or email from numbers or people you do not know.
Shred your documents that contain personal data: Many identity thieves still use traditional methods such as dumpster diving to steal consumers’ personal information. Use a shredder to destroy papers containing your personal financial or confidential information, including statements, health insurance forms, credit card information, etc. Secure confidential documentation in your home so it's not easily obtained by unauthorized individuals.
Review your account statements and credit card statements right away. Collect your mail every day and place a hold on your mail when you will be on vacation or away from home.
Carefully monitor your credit reports and your credit union account using our online banking, and mobile banking access with FREE SavvyMoney. Create and maintain strong passwords and log in information that’s not easy to guess. Report unauthorized transactions or discrepancies immediately.
Another way to monitor your credit report is by retrieving a credit report at least once a year and reviewing for accuracy. The Fair and Accurate Credit Transactions Act of 2003 provides a FREE credit report upon request every 12 months. This act's intention is to allow consumers to keep a close watch on their financial histories. You have the following options to access your report:
Online: www.annualcreditreport.com
Phone: (877) 322-8228
Mail: Consumers need to complete the Annual Credit Report Request Form, which is available through the Federal Trade Commission's site at www.ftc.gov or by calling the number listed above. The form should be mailed to Annual Credit Report Request Service, P.O. Box 105281, Atlanta GA 30348-5281
The Federal Trade Commission is also offering a brochure called " Your Access To Free Credit Reports". The brochure is available online through the agency's site or by calling (877) FTC-HELP.
Use secured drop places. Drop envelopes containing paid bills or other confidential information in postal drop boxes, or at the post office. Don't leave them in an unsecured mailbox for pickup by the carrier.
Don’t carry extra documents with you. Never carry your Social Security card or birth certificate unless absolutely necessary. Likewise, remove any credit cards from your wallet that you don't need to have physically accessible, and store in a secured area.
Stay safe online. When conducting business online, make sure you read the company's privacy policy to ensure they'll protect your confidential information. Be sure the site is a secured site (https://) and that the session has a padlock in the lower right of your screen before entering confidential information.
What do I do if I suspect I'm the victim of identity theft?
Report Identity Theft. Contact any entity that may be affected by the theft of your information, including your financial institution and the Social Security Administration. You should also file a report with the Federal Trade Commission by calling 1-877-438-4338 or visiting IdentityTheft.gov
You may choose to file a report with your local police department.
Consider opening new credit card and financial accounts. Contact your financial institution to determine the best way to protect your accounts after identity theft. This may involve closing and reopening accounts to prevent criminals from accessing your financial information in the future. You should also contact your credit card provider(s) to order a replacement card.
Protect your credit. Contact the three major credit bureaus to establish credit alerts or place a FREE freeze on your credit. Ask to put a fraud alert on your credit file, which makes it harder for an identity thief to open accounts in your name. You may also place a short statement on your credit report to inform businesses that you may have been a victim of identity theft. Information can be obtained at: