Identity Theft – A Growing Concern
Identify theft, by legal definition, is "taking someone else's personal informationand using it for unlawful purposes." Over 8,000,000 U.S. residents were victimsof identify theft in 2006. That represents about 4% of adults, including more
than a million Californians.
In 2006, the average victim spent $531 repairing the damage done by an identitythief. This included costs such as postage for certified mail, letters to creditorsand credit bureaus, photocopying, and legal fees. It took 25 hours, on average,
for a victim to clear up his or her situation.
The total cost of identity theft in the U.S. in 2006 was $49 billion. Victimspaid about $4.5 billion of this and the rest was paid by merchants and financialinstitutions. Because consumers ultimately pay the business costs through higher
prices for goods and services, we all pay for identity theft.
Criminals can only assume your identity if they have access to your personal
information. The following tips may prevent you from becoming a victim:
- Never give anyone your credit card number or related information over the phone unless you initiated the call or are dealing with someone you know. Similarly, avoid confirming such information to a stranger on the telephone.
- Never respond to e-mails requesting account numbers, passwords, or other personal information.
- Do not carry your Social Security number with you.
- When using an ATM, shield the viewing screen or keypad so that others cannot read your Personal Identification Number (PIN).
- Do not write your Social Security number or credit card numbers on checks. The Social Security number is a prime target of criminals and provides them with the key to unlock a variety of personal facts about you. (See related article: "Restricted Use of Social Security Numbers")
- Do not leave outgoing mail in your home mailbox. Use secure mail drops or drop off mail at the post office.
- Shred all documents containing account numbers or other personal information before disposing of them. Bank and other financial statements, ATM and credit card receipts, and pre-approved credit offers are among criminal's favorite source of information.
- Stop mail solicitations of pre-approved credit card applications by removing your name from credit bureau marketing lists. You can do this at www.optoutprescreen.com or by calling (888) 5OPTOUT.
- Keep a list of all credit card account numbers and expiration dates so that you can contact creditors quickly.
- Finally, review your credit report regularly and check for unfamiliar accounts or charges that may indicate fraud. California law allows you to receive free credit reports annually from the three major credit bureaus - Experian (formerly TRW), Equifax, and TransUnion. You may request your free credit reports at www.annualcreditreport.com or by calling (877) 322-8228.
Most importantly, remember that personal information about you –your SocialSecurity number, account and PIN numbers, and birth name – is the key to youridentity. In the wrong hands, such information can be used at your expense.Bureau of Crime Prevent & Youth Services, Los Angeles County District Attorney's Office