Since February 2005, it's estimated that 100 million people's identities have been compromised according to The Privacy Rights Clearinghouse (a non-profit group in San Diego).

Who Can Become a Victim of Identy Theft?

Victims of identity theft include children, disaster victims, veterans, active military personnel and college students.  (In fact, more than 4 million students, faculty, staff and alumni of local colleges and universities have been affected by identity theft.) 

Is Identity Theft a Real Threat?

Identity theft has become the fastest growing criminal activity in the 20th Century, even replacing illegal drug sales. For the perpetrators, it offers the highest profit margin with the least risk. In fact, according to one expert, it is estimated that fewer than 1-in-700-identity crimes actually result in a conviction.

In the United States alone, Identity theft has reached $53 billion dollars a year. Consumers are directly shouldering about $5 billion of that, but the rest, which is paid by businesses and retailers, is passed on indirectly to consumers who are paying more for goods and services.

How BIG is the Problem of Identity Theft in the United States?

In recent months, there has been a rash of reports about big thefts, where criminals are stealing identities in mass quantities. Banks, credit card companies and businesses that house servers storing passwords or other sensitive, private information have all reported “break-ins” that happened through the use of Trojan viruses and other online hacking methods – resulting in the loss of millions of pieces of information being stolen. There have also been instances of the information just getting “lost”, of employees selling it and other lax security measures resulting in the same thing – thieves having access to your identity.

What do Thieves Want?

- Your Name
- Date of Birth
- Home Address
- Phone Numbers
- Social Security Number
- Driver’s License Number
- Credit Card Numbers
- CW2 Security Code (the number on the back of your credit card)
- Your Credit Report
- ATM Cards
- Telephone Calling Cards
- Mortgage Details

Where Are They Getting All Your Information?

High-tech methods include online thefts from:

-Banks
- Credit-Reference Agencies
- Retailers
- Credit Card Networks
- Data-Brokerage Companies
- Payment Processing Companies
- Phone Companies
- Schools
- Your Employer
- Doctors, Clinics and Health Departments
- Government Agencies

But there are still low-tech methods that are effective as well:

- Dumpster Diving
- Mail Theft
- Retail Theft
- “Phishing”/pretexting/pretending
- Purse/Wallet Theft

What are Thieves Using Your Information For?

- Making charges to your existing credit cards
- Opening new credit cards in your name
- Having phone or utilities turned on
- Withdrawing money from your existing bank accounts
- Employment purposes
- Driver’s Licenses
- Tax Fraud
- Social Service benefits
- Student loans
- Business or Personal loans
- Health care
- Mortgage loans/leases
- Auto loans
- Using your ID when caught committing a crime

What Can Happen to You if You're A Victim of Identity Theft?

If you're a victim of identity theft you may spend months, even years, trying to repair a ruined credit history.  A seriously damaged credit report can compromise your chances of getting a new job, a bank loan, insurance or even rental housing.  But damage to your credit report is often the easiest problem to recover from - unluckily, it's not the only problem you may face! 

Every day, all over the country, victims find themselves being arrested, denied earned entitlements, being passed over for promotion, not getting hired or, worse, actually getting fired, not getting insurance, paying higher life, health and auto insurance premiums, facing the IRS because a fraud alert has been triggered...the list is long and limited only to the thief's imagination and industry.

How Can You Protect Yourself and Prevent Identity Theft?

- Keep a photocopy of all your credit cards, bank account numbers and investment account numbers in a safe
place
- Keep your credit card receipts – don’t throw them away in a public place
- Put a “fraud alert” on all your credit reports
- If you apply for credit and the card doesn’t arrive on time, call the card issuer
- Choose difficult to guess PIN numbers or passwords. (Don’t use birth dates, your mother’s maiden name, pet’s name, etc.)
- Never give personal information to anyone who sends you an email, a letter, or calls you asking for it
- Shred all personal information such as bills, credit card or bank statements - even pre-approved credit applications - before throwing them away
- Don’t use the ATM machine if someone is watching you
- Pay attention to what’s going on around you – cell phones often have cameras in them. If someone is standing close by you with a cell phone while you're entering a PIN number at the ATM or in line at the grocery store, block their view
- Review your bills each month for unusual or suspicious charges. If there’s something you don’t remember or doesn’t seem right, call the creditor right away
- Check your credit report at least once a year
- Store your cancelled checks safely, or better yet, have the bank do it. You can always get a copy if you need one.
- Don’t leave your purse in plain sight when driving
- Keep your valuable locked in the trunk or glove box when driving
- Make all personal information on your laptop or computer password protected
- Don’t carry information about your PIN numbers, passwords and account numbers in your purse or wallet; or at least don’t make them easily identifiable as to which account they belong to              -

Warning Signs that Your Identity Has Been Stolen:

- Although you have good credit, a loan application is denied, or you’re refused extended credit requests
- You are suddenly contacted by a debt-collection agency
- Your purse or wallet has been stolen, or your house broken into
- There is unfamiliar activity on your credit report

What to do if it Happens to You:

- If your purse or wallet is stolen, call the police immediately, and file a report. Make sure that you’re given a report number
- Contact your bank, credit card and other credit extending companies and report the theft
- Close the accounts
- Contact the credit-reporting companies in your area, and report the theft.
- Review your credit report every 90 days for the next year for suspicious activity
- If there is fraudulent activity, have it removed immediately and monitor your credit report every 90 days for the next year
- Put everything in writing, and follow up with your credit card companies, banks, and credit reporting agencies. Keep copies of all supporting documents
- File a report with the Federal Trade Commission
- Change the passwords on your existing accounts and create new ones for new accounts

Are You Willing to Gamble on Your Good Name?

It's estimated that about 15 million people (or 1 in 20) will have their identity compromised in 2006 — that's more than a 350 percent increase from a year ago! 

Don't Become A Victim - Stop Identity Theft BEFORE It Happens to You

Don't let yourself become a victim.  In addition to taking the safeguards listed above, you can also register with a certified I.D. Theft Prevention Company.  Although there are several companies in the market that can help monitor your credit, there is only one company that guarantees you'll be safe - in fact, they're so sure they can protect you, that they offer a One Million Dollar guarantee - (that's right, $1,000,000,000.)  If your identity is stolen while you're a client of theirs, they guarantee they will fix it - period, no questions asked.  The company's name is LifeLock and their program is amazinging affordable (for only about 30 cents a day you can protect yourself from this very real threat of losing everything!)  The LifeLock system makes personal information useless to everyone but the rightful owner. Each time someone attempts to open credit, change an address, or make changes to bank accounts, LifeLock is there to ensure the right person is making the request. 

Identity theft is real, and it’s a growing problem, and it could happen to you. Although there are no guarantees that you can keep your information safe, by paying attention to the risks and taking proactive steps to protect yourself, you can minimize your chances of someday having an “identity crisis”. Good luck!

Cheryl Antier