Credit Guaranty Identity Theft

Protection System

IDENTITY THEFT: Reduce Your Risk

What is Identity Theft?
Identity theft occurs when someone uses your name or personal information, such as your Social Security number, driver’s license number, credit card number, telephone number or other account numbers, without your permission. Identity thief’s use this information to open credit accounts, bank accounts, telephone service accounts, and make major purchases—all in your name. Information can be used to take over your existing accounts, or to open new accounts. Identity theft can result in damage to your credit rating and denials of credit and job offers.

How Does Identity Theft Happen?
Identity theft commonly begins with the loss or theft of a wallet or purse. But there are many other ways that criminals can get and use your personal information in order to commit identity theft. The following are some examples:

Example #1
One evening, you sit down to pay your monthly bills. You write the checks, toss the statements in the trash and put the container out on the curb for the morning’s trash pick-up. While you sleep, “dumpster-divers” go through your trash looking for the papers you’ve thrown away. They discover a gold mine of information that can be used for fraudulent purposes—your name, address, phone number, utility service account numbers, credit card numbers, and your Social Security number.

Example #2
You receive an email message from what appears to be your Internet Service Provider (ISP). The message requests that you update the information they have on file about you—your name, credit card number, bank account number, etc.—by replying to the email or going to a specific Web site address to provide the information. However, neither the message nor the Web site address is from your ISP. They belong to someone who wants to get your information to steal your identity.

Protect Your Identity
While there is no guarantee that your identity will never be stolen, there are steps you can take to minimize the risk:

Do not give out your Social Security number to people
or companies that you do not know.
Before disclosing any personal information, make sure you know why it is required and how it will be used.
Shred information you no longer need that contains personally identifiable information and account numbers. For example, credit card receipts, billing statements and pre-approved credit offers should be shredded before you discard them.
Guard your mail from theft. Promptly remove your incoming mail from your mailbox and place outgoing mail in post office collection boxes. Install a locking mailbox if mail theft is a problem in your neighborhood.

Keep the personal information you have at home and at work in a safe place.
Do not carry extra credit cards, your birth certificate or passport, or other cards that display your Social Security number in your wallet or purse, except when necessary.
Create unique passwords and personal identification numbers (PINS) and avoid using easily available information such as mother’s maiden name, date of birth, or the last four digits of your Social Security number.
Use passwords on your banking and brokerage accounts.
Get a copy of your credit report from each of the three major credit-reporting agencies at least once a year. Review the reports to be sure no one else is using your identity to open new accounts or to use your existing accounts.

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