Identity Theft: What Is It, How to Prevent It, And What To Do If You Are A Victim

Wrapping up Identity Theft Awareness Week 2024, we would like to provide some information that can help you avoid becoming a victim. Simply put, “identity theft” is when someone else uses your personal or financial information without your permission. Criminals can open new credit cards in your name, open a utility account in your name, steal your tax refund, file claims with your insurance company, or create online profiles using your name - just to name a few ways your identity can be used in a criminal manner.

Like so many other crimes against individuals, it takes your personal time and effort to prevent becoming a victim. A few simple things you can do on a regular basis include:

1.) Check your bank and credit card statements for irregular or suspicious charges at least monthly.

2.) Check your credit report at least quarterly. You are entitled to free annual credit reports from the three nationwide credit bureaus, Equifax, Experian, and TransUnion. Do not contact the three credit bureaus individually. In order to register to receive your free annual credit report, you can visit AnnualCreditReport.com, call 877-322-8228, or mail the Annual Credit Report Request Form to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, Georgia, 30348-5281.

3.) Do not give out your Social Security Number (SSN) over the phone. Organizations that truly need your SSN to identify you (Internal Revenue Service, your bank, and your employer) will never call, email, or text you for your SSN. When providing your SSN to anyone, always ask them what procedures they have in place to protect your information.

4.) SHRED…SHRED…SHRED…SHRED all your documents with personal information on them. Never throw out personal information in the trash.

5.) If you will be out of town for an extended period, ask the post office to hold your mail until you get back or have a neighbor or friend take your mail out of your mailbox daily. There are a lot of criminals which will take mail from your mailbox to steal your identity.

6.) If you see something unusual on any statement or bill, call the company immediately to get it resolved.

7.) Use a strong password along with multi-factor authorization for all accounts that offer it. It is recommended to use a password manager to store all your passwords.

8.) Do not give out your personal information to someone who calls, emails, or texts you and asks for your personal information.

9.) Do not click any links in emails or text messages from someone you do not know.

10.) You can spend money for identity theft insurance, identity monitoring services, or credit monitoring services, but they do have their limitations. Please conduct your own research before subscribing to any of these services.

Just like with any other fraud, there will be victims. What happens after the identity theft is discovered will prove to be the most important thing. A lot of victims feel embarrassed and want to keep it to themselves. This is exactly what the criminal wants. This allows them to penetrate the fraud for a long period of time which means they can steal more and more money. If you discover you are a victim, you must do the following:

1.) Call your bank and credit card companies and let them know your information has been compromised. They will take the proper measures to stop the fraud within their institution. Also, if you do not report the fraud to the banks and credit card companies immediately, you could be liable for some of the loss.

2.) Change passwords to all accounts which have been compromised. This is a pain, but it’s the only way to stop the criminal from continuing to use your account.

3.) Contact the credit report agency at the number listed above and let them know you are a victim. They will also let you know what your next steps should be.

4.) Go to identitytheft.gov and answer the questions on the page. This website will allow you to report what happened, provide you a personal recovery plan, and walk you through how to put your recovery plan in action.

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