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Identity Theft

As more than 10 million victims scramble to clear their names, identity theft continues to demand national and worldwide attention. No one’s immune; this insidious financial crime hits all demographic groups and geographic boundaries.

How does the crime happen? Even routine transactions reveal bits of information about you--your checking and credit card account numbers; your income; your Social Security number; or even just a combination of your name, address, and phone numbers. If someone steals your personal information and uses it to commit fraud, identity theft can wreak havoc with your finances, your credit, and your reputation.

Victims may spend months or years cleaning up the mess thieves made of their good name and credit record. In some cases, victims lose job opportunities, are refused loans for education or housing, or are arrested for crimes they didn’t commit.

Minimize your risk:

  • Don’t carry your Social Security card in your wallet unless you need it for a specific purpose that day.

  • Don’t allow your Social Security number to be your driver’s license number, which often is used for identification for store purchases.

  • Don’t allow a clerk to write your Social Security number on your check as a condition of cashing the check.

  • Don’t give any personal information over the phone to someone who calls you.

  • Check your credit report to make sure no one has set up false accounts in your name.

For more tips, go to www.ftc.gov.

Identity Theft Victim Checklist

A recent study sponsored by the Federal Trade Commission (FTC) revealed that almost 10 million Americans discovered they were the victims of some form of identity theft in a one-year period before October 2003.

The cost of this crime approaches $50 billion a year, with the average loss from the misuse of a victim’s personal information around $4,800.

If you are a victim, take these steps immediately:

* Place a fraud alert on your credit reports, ask for a free copy of your credit report, and review those reports for evidence of accounts you didn’t open. Fraud unit contacts are:

Equifax 800-525-6285
P.O. Box 740241, Atlanta, GA 30374-0241

Experian 888-397-3742
P.O. Box 9532, Allen, TX 75013

TransUnion 800-680-7289
P.O. Box 6790, Fullerton, CA 92834-6790

  • Close accounts--including share drafts/checks or ATM cards--that have been tampered with or used fraudulently. Contact all financial institutions and lenders, credit card issuers, utility companies, and the Social Security Administration to notify them of the fraud. Follow up each conversation with a letter.

  • File a report with law enforcement and insist on getting a copy of the report or the report number.

  • File a complaint with the FTC. Visit consumer.gov/idtheft for more information or call 877-IDTHEFT.

Copyright 2005 Credit Union National Association Inc. Information subject to change without notice. For use with members of a single credit union. All other rights reserved.