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Identity Theft 101Identity Protection 101How to Protect Yourself from Identity Thieves. By Dr. John Herrington At a time when your good name and credit is used to judge you as never before, from whether you'll get that next job or house, or the rates you'll pay for insurance policies and loans, your name and credit have never been more at risk. According to statistics from the FTC identity theft survey report, identity theft is the fastest growing white-collar crime in America today. 1 in 8 people reported that they were victims of some form of identity theft in the last five years. Almost 10 million of those were in the last year alone. Has it happened to you, or someone you know . . . yet? Let's face it. Criminals have the advantage when it comes to identity theft. It's easy to steal your personal information. But it seems that it's just as easy for them to get away with using it. And statistics show they can get away with it over and over again. Don't think you're at risk? That you're protected? Think again. > Do you hand your credit card to servers at restaurants? > Do you sign your credit cards? > Do you supply personal information over the internet? > Do you keep your Social Security number in your wallet or purse? > Do you leave mail at your home or business for the postal carrier to collect? > Do you shred unwanted mail with personal information? > What kinds of personal information can be found in your trash? The truth is, the average consumer is the most common victim. All you need is a social security number and minimally acceptable credit worthiness to be victimized. Early detection is important, but watching our finances may not be enough to prevent identity theft. The bigger problem is when someone uses your personal information to establish new credit in your name. According to the FTC, in the 12 months ending in 2003, 3.23 million consumers discovered that new accounts had been opened. And other frauds like renting an apartment or home, obtaining medical care, or gaining employment had been committed in their name. Would you know what to do if it happened to you? > Call your bank and/or credit card company > Contact the three major credit repositories > Go through the helpful but extensive steps recommended by the Federal Trade Commission in its 30-page consumer support publication > Fill out and submit the affidavit form supplied by the FTC to dispute new, unauthorized accounts > Spend countless hours and an average of $1,800 in out-of-pocket expenses (Federal Trade Commission) in your efforts to resolve the many problems caused by identity thieves. "People whose identities have been stolen can spend months or years-and thousands of dollars-cleaning up the mess the thieves have made of their good name and credit record." (Federal Trade Commission: When Bad Things Happen to Your Good Name, September 2002 A professional thief can assume your identity in just a few hours, but it can take years for you to restore your credit standing. If you are thinking, "It'll never happen to me." Think again. While most people are familiar with identity theft, most businessmen and women never think about it happening to them, at least on a professional level. Consider this: if a criminal can learn your business checking account number or the number of your company credit card, they can steal far more from your business than if they had simply knocked down the door and carted off your desk. What are some steps you can take to further reduce your risk of becoming a victim of identity theft? > Never give out your first name, last name, business name, email address, account passwords, credit card numbers, bank account information, PIN number, social security number, or driver's license number unless you can be sure it is secure. > Change your online account passwords every 30 days. (Believe it or not, a hacker who steals your personal information can guess your online account passwords in about two minutes. If your Charles Schwab online account password is your birthday or the name of your first born or family pet, count on a hacker cracking that code faster than you can say 'Bill Gates.') > Never provide personal information in response to an email or telephone call. Just because someone calls and says they are from Dunn & Bradstreet and need to confirm your business information does not mean they are really from Dunn & Bradstreet. > Never give your business or personal credit card number over the phone to place an order with someone who has called you unsolicited. If you are interested in what they are selling get their number, check out their company, then call them back to place the order. You must be an informed consumer. This article has provided only a glimpse into the world, or industry, of identity theft. We are busy people, who don't think about the possibility of identity theft, until we are faced with it. You must think about it. Don't wait until it happens to you. For more complete information about identity theft protection and identity restoration, go to http://www.LivingSmartNews.com ======================== Publishing Guidelines You have permission to publish this article electronically or in print, free of charge, as long as the bylines are included. A courtesy copy of your publication would be appreciated. Dr. John Herrington is editor of "Living Smart News." mailto:livingsmartnews@usa.com More information about Identity Theft can be found at http://www.LivingSmartNews.com.
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