Your identity is stolen when someone uses your name, social security number, or other personal information to get credit cards or loans.
The Federal Trade Commission (FTC) reports there were 9 million cases of identity theft last year with losses to consumers of more than $5 billion. The simplest kind is credit card fraud, which accounts for over 60% of identity theft.
Get your free credit report
Check for identity theft by reviewing your credit report at least once a year. You can get a free credit report every 12 months by calling (877) 322-8228 or online and the Annual Credit Report web site.
Protect yourself
- Review your credit report for accounts you did not open and for account balances that are suspiciously high.
- Only carry the credit and identification cards you need. Make copies of the cards you carry and keep them in a safe place. If your wallet disappears, you will have the information you need to report them as lost or stolen.
- Do not respond to e-mail messages or telephone calls asking for personal and financial information.
Identity theft warning signs
Here are the most common signs of identity theft:
- Your credit card statement has charges you did not make.
- You get bills for accounts you never opened.
- You are denied credit for no apparent reason.
- Money is missing from your bank account.
If your identity is stolen
- Get a copy of your credit report. Note accounts you did not open and account balances that are suspiciously high.
- Contact the major credit reporting companies. Ask them to place a “Fraud Alert” on your report. This alerts businesses to verify your identity before issuing credit and stops thieves from opening new accounts in your name.
- File an “Identity Theft Police Report” at your local police station and keep a copy.
- Contact companies that have reported accounts you did not open or charges you didn’t make. Send them a copy of your police report and a certified letter disputing the fraudulent charges.
- Keep a record of your calls and letters.
