Lessons Learned

March 2009

Resources for Victims

As National Consumer Protection Week comes to a close, there’s one last important topic that warrants mention: What to do if you ever find yourself an identity theft victim. In the wake of identity-related fraud, fast action is key. The guidelines below, taken from the Federal Trade Commission’s consumer resources web site, onguardonline.gov, are intended to help you restore credit and regain control of your identity should fraud ever happen to you.

The bottom line for online threats like phishing, spyware, and hackers is identity theft. Identity theft occurs when someone uses your name, Social Security number, credit card number or other personal information without your permission to commit fraud or other crimes. That's why it's important to protect your personal information. To find out how to deter and detect identity theft, visit ftc.gov/idtheft.

But according to OnGuard Online, if your personal information is accidentally disclosed or deliberately stolen, taking certain steps quickly can minimize the potential for the theft of your identity.

Place a "Fraud Alert" on your credit reports, and review the reports carefully. The alert tells creditors to follow certain procedures before they open new accounts in your name or make changes to your existing accounts. The three nationwide consumer reporting companies have toll-free numbers for placing an initial 90-day fraud alert; a call to one company is sufficient:

•    TransUnion: transunion.com, 1-800-680-7289
•    Experian: experian.com,
           1-888-EXPERIA[N] (397-3742)
•    Equifax: equifax.com, 1-800-525-6285

Placing a fraud alert entitles you to free copies of your credit reports. Look for inquiries from companies you haven't contacted, accounts you didn't open, and debts on your accounts that you can't explain.

Close any accounts that have been tampered with or established fraudulently.

•    Call the security or fraud departments of each company where an account was opened or changed without your okay. Follow up in writing, with copies of supporting documents.
•    Ask for verification that the disputed account has been closed and the fraudulent debts discharged.
•    Keep copies of documents and records of your conversations about the theft.

Reporting your identity theft to the Federal Trade Commission helps law enforcement officials across the country in their criminal investigations.  But it’s just as critical to file a police report. The FTC’s annual report on consumer complaints for 2008 found that 65% of identity theft victims who filed a complaint with the FTC did not notify the police. Filing a report with law enforcement officials can help you with creditors who may want proof of the crime. This report will also help you claim your rights as a victim of identity theft.

And whether or not you are a victim of identity theft, you should know how to safeguard your information. Doing so can help mitigate your risks.

      Online: ftc.gov/idtheft
      By phone: 1-877-ID-THEFT (438-4338) or TTY, 1-866-653-4261