Identity Theft

It’s always been important to have accurate financial tracking and to be in the right track, it is necessary to get appropriate snapshot of credit reports. But now a day it has been found that many people are having a particular problem of Identity Theft. It is essential for you to know the dangers of this particular problem and its possible solution.

According to FTC’s final rule identity theft can be defined as

“a fraud that is committed or attempted, using a person’s identifying information without authority.”

According to the non-profit Identity Theft Resource Center, identity theft is

“sub-divided into four categories: Financial Identity Theft (using another’s name and SSN to obtain goods and services), Criminal Identity Theft (posing as another when apprehended for a crime), Identity Cloning (using another’s information to assume his or her identity in daily life) and Business/Commercial Identity Theft (using another’s business name to obtain credit).”

Millions of people became victims of it in the last few years. It can also be called as “Phishing”. It occurs something like that, when you receive an email from companies saying they are legitimate company and asking for your credit card information or your contact information. In this way they will have your important personal information. Your awareness can be the best solution of this problem. You need to know the methods how these scams happen. It is happened mainly through emails. They will send you bogus emails requesting personal information like, SSN (Social Security Numbers), bank details, passwords etc. But mind it don’t ever give these information although it seems that everything looks genuine. Real organizations don’t require you to send these details by the way of emails. These fraudulent companies use fake bank logos and images to convince people that they don’t look fraud. They also use similar looking website URL and email address but it is not the actual one. It will redirect you to another website. Suppose you are having this problem, then it will be better for you to ring up the bank or financial company to double check. But never give out your important personal details via email.

How fraudulent companies gather your personal information:

  • Stolen or lost credit cards
  • Larceny from your mailbox
  • Through unsolicited emails
  • Fake phone solicitation
  • Going through trash
  • Searching personal records

Identifying Theft

Identifying signs of fraud can vary, but generally the following points are the indicators or fraud:

1) Email, letters or incoming calls stating that your application have been approved or denied to which you never applied for;

2) Creditors inform you that they have received an application for loan from you; they will say your Name and SSN also.

3) Receiving credit card statements in your address with your name which you never applied for;

4) You are not getting statements of your credit card;

5) You are not receiving all mails which is delivered to you;

6) False purchase entries in your credit card statements that you are unable to recognize.

7) Any collection agency tells you that they are in the process of collecting money for a defaulted account with your identity that you never opened.

Free Methods to protect these scams:

  • Review credit card or bank statements for fraud.
  • Destroy credit card receipts or other financial papers
  • Check your credit reports regularly
  • Be secure about your SSN and never give it.

Find Identity Theft complaint form here:
https://rn.ftc.gov/pls/dod/widtpubl$.startup?Z_ORG_CODE=PU03