Protect Yourself from Identity Theft                             
November 2010
Print Version

Identity theft occurs when someone appropriates another persons personal information without his or her knowledge in order to commit fraud or theft. These identity thieves may
open charge accounts in the victims name and thus borrow money and even perpetrate felonies.

The Federal Trade Commission found that complaints of identity theft have increased rapidly during the last several years. The U.S. Secret Service estimates that consumers nationwide lose hundreds of millions of dollars to identity theft each year. According to the Identity Theft Resource Center, the normal victim spends approximately 550 to 700 hours clearing his or her credit record.

Your credit record should be checked each year to verify all the information is accurate. In addition, you should contact your creditors if your bill does not arrive in time. A missing credit card bill could mean an identity thief has taken over the credit card account and changed the billing address to cover his or her tracks.

All old financial documents, including bank statements and credit card bills, should be shredded to reduce the exposure to what is called dumpster diving.

You should not carry your Social Security card with you; rather, it should be secured in your safety deposit box.

You should avoid using an unlocked mailbox, such as at your residence, to drop off outgoing mail, since mail can be easily stolen.

You should not print your Social Security number or drivers license number on your personal checks.

Ask your insurance agent about an identity theft endorsement providing protection if your identity is stolen. Often, this coverage is not automatically included in your homeowners policy, so call your agent today if you have any questions.

Information used with permission from International Risk Management Institute, Inc., Copyright 2008.