Identity theft occurs when a con artist collects information about a consumer to use that information to fraudulently obtain credit or services in another's name. The Fair Credit Reporting Act ("FCRA") defines "identity theft" as "a fraud committed or attempted using identifying information of another." The crime takes several forms. Financial fraud is perhaps the most prevalent. This type of fraud includes bank fraud, credit card fraud and several more. Credit card fraud is identity theft in its most simple form. It can happen when your pre-approved credit card offer falls into the wrong hands. Your information is also obtained the old-fashioned way by stealing wallets, purses and mail. Your billing statements can also be diverted to another location by a change of address form. With a person's name, social security number and date of birth most anyone can get bank loans, access accounts and open new accounts. The best way to find out if your identity was stolen is to closely monitor your accounts and bank statements each month and check your credit report on a regular basis. Stay alert for other signs of identity theft. Do not delay in correcting your records and contacting all companies that opened fraudulent accounts. To protect yourself from identity theft, you must take immediate action. You cannot assume this will not happen to you. Here are some steps you can take to protect yourself:
- Destroy any unwanted credit cards or card offers.
- Do not give your social security number to anyone unless absolutely necessary.
- Shred all sensitive documents before placing in trash.
- Review your bank and credit card statements each month.
- Do not mail documents from your mailbox that contain personal information.
- Take immediate action if creditor calls about accounts you did not open.
If this happens to you:
- Immediately close any accounts the imposter has opened in your name.
- Call the fraud units for all three credit bureaus to report the theft and have your accounts flagged with a fraud alert.
- Credit reporting agencies must have reasonable procedures to respond to notices of information blocked due to identity theft and if furnished with an identity theft report, the credit reporting agency must stop furnishing that information.
- File a complaint with the Federal Trade Commission through the Federal Trade Commission's Consumer Response Center.
For more information contact an attorney experienced in handling such matters and search the Federal Trade Commission's Identity Theft Web Site.
