Protect Your Good Name-- Tips to Prevent Identity Theft
What is identity theft? The short answer is that identity theft is a crime. Also known as identity fraud, identity theft involves someone obtaining and using your personal data, such as your name, address, telephone number, phone card or credit card number, mother's maiden name, and Social Security number, without your knowledge to commit a criminal act.
Most often your personal information is illegally used to commit some form of financial fraud or deception, typically for economic gain. Whether they buy something on your credit, obtain money from your bank account, or obtain new credit in your name, the identity thief usually intends to obtain goods and services in your name, and ultimately leave the bill with you. Since this is being done without your knowledge, it is quite possible that you could end up owing thousands or even tens of thousands of dollars before the crime is even discovered.
Unlike your fingerprints, which are unique to you and can not be given to someone else to use, your personal data, particularly your Social Security number, your bank account or credit card number, your driver's license number, and other valuable identification data can be used, if they fall into the wrong hands, to personally profit at your expense.
In the United States and Canada, for example, many thousands of people have reported that unauthorized persons have withdrawn funds out of the bank accounts, or, the worst cases, taken over their identity altogether, running up vast debts and committing crimes while using the victim's name and identification. In many of these cases, a victim's losses may include not only out-of-pocket financial losses, but substantial additional financial costs associated with trying to restore his reputation in the community and correcting erroneous information for which the criminal is responsible.
Businesses are not immune from identity theft. Upon applying for credit, a small business may discover it has a history of nonpayment of bills--debts run up by an identity thief. Thus, a business in need of a loan may get a double surprise of being denied credit and learning that it will not be able to obtain funds until it clears up the accumulated debts incurred by somebody else.
To reduce or minimize the risk of becoming a victim of identity theft or fraud you must learn to be careful with your personal information. Many people do not realize how easily criminals can obtain our personal data without having to break into our homes. In public places, for example, criminals engage in "shoulder surfing" watching your from a nearby location as you punch in your telephone calling card number or credit card number. They may also listen in on your conversation if you give your credit card number over the telephone to a hotel or rental car company.
Even the area near your home or office may not be secure. Some criminals engage in "dumpster diving" going through your garbage cans or the dumpster at work--to obtain copies of your checks, credit card or bank statements, or other records that typically bear your name, address or telephone number. These types of records make it easier for criminals to get control over your accounts and assume your identity.
In recent years, the Internet has become an appealing place for criminals to obtain identification data, such as passwords or even banking information. In their excitement to explore the fascinating features of the Internet, many people respond to "spam"--unsolicited E-mail--that promise them some benefit in exchange for personal identifying data. In some well-known and recent incidents, criminals have used computer technology to obtain astronomical amounts of personal data from thousands upon thousands of innocent victims.
What can you do personally, to avoid identity theft? Be stingy about giving out personal information to others. Check you financial information regularly. Periodically, ask for a copy of your credit report. Maintain careful records of your banking and financial accounts. And shred or burn any documents which may contain valuable, personal information.
Search the Web for information about one of America's fastest growing crimes--identity theft. Don't be the next victim!
Larry Denton is a retired history teacher having taught 33 years at Hobson High in Hobson, Montana. He is currently V.P. of Elfin Enterprises, Inc., an Internet business providing valuable information on a variety of timely topics. For a court room full of advice, resources and suggestions about identity theft, visit http://www.IdentityTheftHalt.com
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