How to Prevent Identity Fraud

This time of year, most of us are using our credit cards and i.d.'s for our holiday shopping. Unfortunately, thieves are also on the prowl looking for ways to snatch up our identities.

We have all heard horror stories about frauds committed on victims using their names, addresses, social security numbers, credit cards, etc. Imagine having your wallet stolen and within a week the bandits have ordered an expensive monthly cell phone package, applied for a credit card, had a credit line approved to buy a computer, received a PIN number from the Department of Motor Vehicles to change your license information online, and more. 

The is offering helpful tips: Here is some strategic information to limit the damage caused in case this happens to you or someone you know. 

The first thing you need to do is photocopy the contents of your wallent. Make sure copy both sides of each I.D. card/license, credit card, etc. Therefore if there is a theft or loss, you will have the account numbers and phone numbers handy to call and report them stolen or lost. Keep the photocopies in a safe, secure place where they are accessible to you only. Make sure the copies do not get into the wrong hands.

If this crime is committed against you:

• Pull out those handy copies you made.

• Report your credit cards stolen immediately.

• File a police report immediately in the jurisdiction where it was stolen.  This proves to credit providers you were diligent and is a first step toward an investigation, if one is needed.

This next step is perhaps most important: Call the three national credit reporting organizations immediately to place a fraud alert on your name and social security number.

This will alert companies that are checking your credit that your information was stolen and it flags those companies to contact you by phone to authorize any new credit. If you do not do this as soon as possible after the theft, you allow the thieves time to cause the most damage.

The three national credit reporting organizations' numbers are Equifax: 1-800-525-6285; Experian (formerly TRW): 1-888-397-3742;  Trans Union: 1-800-680-7289, Social Security Administration (fraud line) 1-800-269-0271.

Additional Tip: Do not leave anything of value in plan view inside your vehicle.