Identity Theft

 

Identity theft occurs when someone uses your name, address, Social Security number (SSN), bank or credit card account number, or other identifying information without your knowledge to commit fraud or other crimes. Unfortunately, Identity theft is one of the fastest growing crimes in the Nation today. The Federal Trade Commission's report on Identity theft for the year of 2003 indicated that the FTC received over a half a million (516, 740) consumer fraud and identity theft complaints; That's up from 86,000 in 2001. Those reported crimes in 2003 resulted in more than $400 million in reported losses. 42% of all complaints received by the FTC in 2003 related to Identity theft, a 2% increase from 2002.

As you can see, it is important that you learn about identity theft and how it can impact your life. Identity theft is a serious crime and people who are victimized can spend months or years and a lot of hard earned money cleaning up the mess left behind by theives who have destroyed their good name and credit record. In the mean time, victims may loose job opportunities, be refused loans, scholarships, grants, housing, cars, or even be arrested for crimes they didn't commit.

 

If you think your identity has been stolen, here's what to do now:

1 Contact the fraud departments of any one of the three major credit bureaus  to place a fraud alert on your credit file. The fraud alert requests creditors to contact you before opening any new accounts or making any changes to your existing accounts. As soon as the credit bureau confirms your fraud alert, the other two credit bureaus will be automatically notified to place fraud alerts, and all three credit reports will be sent to you free of charge.
2 Close the accounts that you know or believe have been tampered with or opened fraudulently. Use the ID Theft Affidavit when disputing new unauthorized accounts.
3 File a police report. Get a copy of the report to submit to your creditors and others that may require proof of the crime.
4 File your complaint with the FTC. The FTC maintains a database of identity theft cases used by law enforcement agencies for investigations. Filing a complaint also helps us learn more about identity theft and the problems victims are having so that we can better assist you.

For more in-depth information on recovering from identity theft and help with specific problems, read ID Theft: When Bad Things Happen to Your Good Name.

You can also Learn more about Identity Theft at the Federal Trade Commission's website and these other sites listed here:

Federal Trade Commission - ID Theft Home

National and State Trends in Fraud and Identity Theft

FTC's Page About Identity Theft- There is a lot of great information on this page