A Center Of Identity Theft Know-How

It's no secret that identity theft has become a major problem in this country. Last year alone, more than 9.9 million Americans fell victim to this devastating crime. And it can be devastating.

Identity theft occurs when someone acquires key pieces of your personal information with the intent to commit fraud. Most commonly, they use this information to open new credit accounts and run up huge debts. However, this is not the only use of stolen personal information. It can also be used by someone looking to immigrate illegally, carry out terrorist activities, assume a new identity, or even to blackmail you or someone in your sphere of relationships.

How does a thief gain access to your identity?

While most people believe their greatest exposure to theft is through the Internet, experts say your mailbox (where thieves can obtain account statements, new checks and credit offers) and your garbage are the easiest ways criminals can access your personal information. The theft of your purse or wallet is also common. And then there're those situations in which you willingly give out information over the phone (to someone who calls with a great offer) or over the Internet in response to a fraudulent email (commonly referred to as "phishing").

Once a thief has your information, he generally has weeks (even months) before you become aware that there's a problem. In fact, it may not become evident until you suddenly start receiving bills for revolving accounts you never set up, in towns you never visited, for items you never purchased. By this time, your credit report has become peppered with new accounts that you had no idea existed.

Once that happens, it's a nightmare trying to undo the damage.

However, there are ways to be proactive and protect yourself. For instance, most credit card companies offer services that will monitor your account for unusual activity, notify you immediately if there's a problem, and protect you from the fraudulent charges. The three leading credit reporting agencies in the United States: Equifax, TransUnion, and Experian, each offer monitoring services as well (although that's all they do ... monitor and inform).

There are other ways you can help minimize your potential risk as well:

Never share your banking information, particularly your personal password, with anyone unless you initiated the contact or you personally know the person you're dealing with. Legitimate banks and other businesses will not call or email you requesting your personal account information. When you receive a request for your account information (whether it's a bank account, a credit card account, or even a PayPal or eBay account), red flags should go up.

Always guard your PIN (personal identification number) at ATMs.

Sadly, you shouldn't leave outgoing mail in your home mailbox for pickup. Either take the mail to the post office or drop it off at a secure postal mailbox.

Never carry your Social Security card in your wallet. If you have to carry credit cards in your purse or wallet, as most of us do, keep them to a minimum. Preferably a single card.

Never use your credit card on the Internet unless you're initiating the purchase and it's done through a secure connection. You can quickly identify a secure connection by checking for "https" in the URL or the lock icon in the corner of the screen.

Keep a list of your credit card and bank account numbers in a secure location, such as a locked safe or a safety deposit box.

Always shred personal documents. This includes all those credit card offers you receive in the mail, old account statements, billing statements, credit card statements, etc. And use a double-cut shredder to be on the safe side. You can pick one up at nearly any office supply store for under $40.00.

Keep track of your bank and credit card statements. Make sure they arrive every month and monitor them for any unusual activity. If a bill doesn't show up, it can be an indication that someone has set up a change of address without your knowledge.

Order a credit report from all three agencies (Equifax, TransUnion, and Experian) twice per year, review them, and compare them carefully. If you discover any fraudulent entries immediately contact each agency, explain the situation and follow the proper procedures to correct the problem.

Identity theft is on the rise throughout the United States, but that doesn't mean it has to happen to you. Take a few diligent precautions and your chances of never becoming a victim increase dramatically.

There are thieves everywhere and the Internet has its fair share of bandits of all types. The most frightening and potentially dangerous thief is the identity thief. An identity thief can go beyond stealing the contents of your bank accounts or running up debts on your credit card. Identity theft can result in you being pursued for debts incurred in your name by the thief, being blacklisted by credit reference agencies and even being arrested on criminal charges. By taking a few simple precautions, you can ensure your identity is safe online. The following are seven effective tips for password protection online.

Password Protection Tips

1. Do not use the same password for everything. There are many people who use one password for everything because they would have trouble remembering numerous passwords and can't be bothered to write them all down. If you use the same password for everything and a thief gets hold of it, he has access to every online facility you use. If a crook gets hold of your personal details for any program, one of his first actions will be to check to find out if you have a PayPal account where you use the same password.

2. Do not use any words to be found in the dictionary as passwords. Passwords should be a meaningless mixture of letters, numbers and (if the login permits) symbols. Thieves use software programs that can identify dictionary words when they are used as passwords.

3. Do not use obvious things for identity confirmation. Your date of birth, mother's maiden name, father's middle name etc are matters of record that are available to thieves. Choose a more obscure option such as your favourite color or the name of your first school. If a program gives you no choice and you have to provide your mother's maiden name, don't give the real one, make one up (and use a different one for each program requiring this information) but make sure you don't forget the names you invent.

4. Never click a link in any email asking you to update personal information. Any email asking you to do this will be a "phishing" email from thieves trying to get hold of your personal details. If a genuine company needs you to confirm anything, it will ask you to log into your account, it will not ask you to click through via a "special" link.

5. Never tell anyone else your password. No legitimate company will ever ask you to give them your password.

6. Use a software program to store your passwords on your PC. The Mozilla Firefox toolbar will save your login passwords for you and enable you to log in to programs with just one mouse click. Roboform will do the same thing. It will also record the url of sites you log in at and recognize any attempt at phishing. Roboform also has a function to generate completely random passwords for any program you use. The "portable" version of Roboform can be plugged into any pc, thereby enabling you to use your passwords without fear of theft by keystroke loggers.

7. Change your passwords regularly, being sure to use brand new passwords, not recycled ones from a month or two ago. This way the damage will be limited if a thief gets access to a database containing your details.

Identity thieves are everywhere. They are happy to rummage through your garbage in the hope of finding a copy of your bank statement or a discarded utility bill. Compared to that dirty work, stealing your identity via a password you use on the Internet is a pleasant option. It is up to you to make sure the pleasant option is not an easy option for the thieves.