Once your identity is jeopardized, getting it corrected can cost time and money. So be sure to keep an eye on your accounts and immediately take the following actions if you see any suspicious activity:
Step #1—Place an initial fraud alert on your credit report with one of the major credit reporting agencies (Equifax, Experian, TransUnion). They must inform the other two agencies on your behalf.
This makes it more difficult for a thief to open additional accounts in your name because a business must take additional steps to contact you directly to verify your identity. An initial fraud alert lasts for 90 days; however, you can renew it for free as needed.
Step #2—Request your credit reports from each of the three major credit reporting agencies. Placing a fraud alert also gives you access to free copies of your credit reports. It’s a good idea to request copies that reveal only the last four digits of your Social Security number.
If you know which of your accounts have been compromised, contact those companies directly to discuss the fraudulent activity. Take notes about what actions are being taken and follow up in writing. Be sure to send all communication regarding an identity theft case by certified mail and ask for a return receipt. It’s important to create a record that proves you have been diligent to resolve unauthorized charges on your account.
Step #3—Submit an identity theft report to the Federal Trade Commission (FTC) and then the local police. Having these formal reports will help you prove that you’ve been an identity theft victim to credit reporting agencies, businesses, and debt collectors. If a thief opened new accounts in your name and made large purchases, this could damage your credit history unless the creditor is willing to remove the account or the fraudulent charges from your report.
Visit the FTC website at consumer.ftc.gov to submit an identity theft report or to learn more.
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Here are 10 tips to help you protect yourself and stay safe from identity theft:
Never carry confidential information that you don’t need. Unless you plan to use them, remove your Social Security card, paper checks, and financial cards from your wallet and leave them at home so they can’t be lost or stolen.
Don’t share your Social Security number. There are only a few situations where you might need to provide it, such as for a new job, in tax-
Keep a close watch over your debit and credit cards. When you hand a financial card to a store clerk or restaurant server, watch to make sure that it isn’t copied and get it back as soon as possible. Also, never loan your financial cards to anyone.
Shred all documents with personal information. Make confetti out of receipts, financial account statements, and unwanted credit card offers before putting them in the garbage. Identity thieves dumpster dive for paperwork and can even use the last few digits of a confidential number against you.
Check your credit reports once a year. If an identity thief opens an account in your name, it will show up on your credit reports. That’s why it’s important to review them on a periodic basis at annualcreditreport.com.
Resist clicking on links in e-
Use a secure Internet connection. Don’t access a website where you enter confidential information using a public computer or an open Wi-
Create strong online usernames and passwords. Each password for your financial accounts should be unique, with no fewer than eight characters made up of uppercase and lowercase letters, numbers, and symbols. They should never include your Social Security number, name, address, or birth date.
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Monitor your bank and credit card account activity. Review your accounts online or view monthly statements to watch out for unauthorized transactions.