Protect Yourself From Identity Theft

Protect Yourself From Identity Theft

Lou Scatigna, CFP

Identitiy theft has been a growing problem but with the economy on the skids, identity theft is running rampant. Cases of reported identity theft were up 22% in 2008 with almost 10 million victims. Ask any victim and they will tell you what a nightmare it is to repair your credit, the earlier you become aware the easier it will be to fix the situation.

For some reason woman are more likely than men to be victims of identity theft (maybe it is easier to snatch a bag than a wallet). The most common method of stealing your identity is still the simple way, stealing a checkbook or credit card.

Medical ID theft is an area of growing concern. Employees of doctors and hospitals have access to your personal records and there have been numerous reports of people using this information to get medical care and prescriptions. They get the medical care and your insurance compnay or Medicare foots the bill.

Here are some ways to protect yourself:

Never give out Social Security number or full date of birth on any website your not sure about or any social network or dating sites. Be aware for phising emails that try to get you to "update your information" for your account with a bank or investment firm. The email will look just like the ones you get from the real institution. Also remember that the IRS does not send emails to anyone if you get one it's a scam.

Make sure your home and business wireless network is encrypted and that you have a firewall security system. Also make sure your computer has up to date anti viral software.

If you have a room mate be careful with your bills and records. The highest incidences of identity theft among collage kids and young adults mainly for this reason.

Sadly, the elderly are also a prime target of identity thieves. Many times it is family members or caretakers who take advantage of them. More than one member of the familiy should monitor financial transactions and credit reports to make sure everything is fine.

Make sure to check your credit report regularly for transactions you are unaware of. Each of the three credit agencies are required to provide you with a free credit report every year so if you rotate the agencies you can recieve a credit report from a different agency every four months.

You can get credit reports from annualcreditreport.com on-line or call the agencies directly.

Here Are The Phone Numbers:

Equifax 800-685-1111

If you want to get a human: 866-640-2273 press 30, ignore message

Experian 888-397-3742

If you want to get a human: 800-493-1058 say yes, enter credit report #, Social Security Number, say yes, say agent, say yes to confirm. You must already have a credit report in your hand for this to work, great if you see an abberation on your report and you want it fixed.

Transunion 800-888-4213

If you want a human: 800-916-8800 Press 2 at each prompt.