History Of Identity Theft

Don’t Let Identity Thieves Ruin Your Life

In August, 2008, CNN reported on the largest case of identity theft in the United States. According to reports, more than 41 million credit card numbers were stolen by an identity theft ring that hacked into the computer networks of nine national retail chains, including Barnes & Noble, TJX Cos, BJ’s Wholesale Club, and OfficeMax.

By law, when a data breach occurs, a company is required to send a letter to notify customers of their possible exposure, said Steve Ely, a divisional president for credit monitoring company Equifax Inc. In the article from CNN, Ely said companies often downplay the problem to minimize damage to their reputation. “Ninety-nine percent of the time breach letters look like a piece of junk mail, and people throw them away.”

And indictments like those announced in August aren’t likely to prevent your data from getting into the hands of other criminals, warned Paul Stephens, director of policy and advocacy at Privacy Rights Clearinghouse, a nonprofit in San Diego.

“Even though they may have found the individuals,” said Stephens, “that is no guarantee that that information is not out there and available to people to use for fraudulent purchases.”

We’ve all heard these warnings before:. Carry as few credit cards as possible, and leave your Social Security card at home. Never give out personal information by phone, mail or on the Internet unless you initiated the exchange and are clear why you’re sharing such details. Use a shredder.

Other important steps include emptying your mailbox as soon as possible; shredding or tearing up any private information before discarding them. Also make sure online purchases are from secure sites, one good sign is that the URL changes from http to https.

In my experience, it’s best that you limit or eliminate the use of debit or check cards linked to bank accounts, especially online. If you do, you should also regularly monitor your credit file. You can do this by ordering your yearly free credit report but for better protection could include daily monitoring through a credit monitoring service.

Upon request, Federal law requires each of the three credit bureaus, Equifax, Experian and TransUnion, to provide Americans with one free credit report each year. The reports can be obtained at http://www.annualcreditreport.com or alternatively by phone or mail. Consumer advocates recommend rotating requests among the three companies, obtaining one report every four months.

If that sounds like too much work for you, consider paying for a credit protection service. They are often the right choice for identity protection..

Keep in mind though that not all service are created equally. One of the best credit monitoring services is TrustedID. Their system simply works, it is like having your own personal security guard working for you 24/7 to protect your identity and your future credit opportunities.

It is highly recommended that you to take a few simple steps to protect yourself from identity theft, which affects as many as 9million Americans each year, costing billions of dollars and countless hours to correct the problems it creates.

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