Happy continued National Consumer Protection Week! Not as much fun as Cinco de Mayo and the signature drink is probably a flat dark ale mixed with Metamucil, but still, let’s have some fun! Last time we talked about Imposter Scams – today, let’s talk about what to do if you are a victim of identity theft.
Identity theft is when someone uses your personal data — name, Social Security number, birthdate, etc. — to impersonate you, most commonly for financial gain. They might use that information to drain your bank and investment accounts; open new credit lines in your name; get utility service; steal your tax refund; get access to medical treatments; or give police your name and address when they are arrested.
The internet has made it easier for thieves to obtain personal and financial data. It has also made it easier for thieves to sell or trade that information, making it more difficult for law enforcement to identify and apprehend the criminals. Unfortunately, while you can’t guarantee you’ll never become a victim, there are ways to minimize your risk.
- You can freeze your credit with all three Credit Reporting Agencies. This restricts access to your records so new credit files cannot be opened in your name.
- Safeguard your Social Security number. Do not carry it with you and make sure to shred any documents or mail that may contain your SSN. Don’t fall victim to phone calls from people claiming to be from Social Security and be wary of any email claiming to be from the Social Security Administration. If you have any questions or concerns, contact the SSA directly.
- Be alert to phishing and spoofing. Scammers can “spoof” phone numbers to make it look like the call is coming from a legitimate government agency. They can also “phish” emails to entice you into handing over your personal and financial information. Once again, if you have any questions, it is best to contact the agency directly.
- Use strong passwords and do not reuse them. You can also add an extra layer of authentication to further protect yourself. Don’t rely on security questions, and never post data on social media that would offer clues as to how to answer your security questions.
- Watch your mailbox. Stolen mail is a great way for scammers to steal your identity. Have your mail held if you are out of town, or consider signing up for Informed Delivery through the USPS by which you can preview your mail to see if anything is missing.
- Most importantly, shred and shred and shred. Don’t leave any bank, credit card or investment statements where someone can steal them. Shred junk mail too, as it is better to be safe than sorry.
If you find yourself a victim of identity theft, start by reporting it to the FTC and follow their recommendations to start a recovery plan. You may also need to file a police report with local law enforcement and contact your credit bureaus. And finally, feel free to contact us. Stay safe and shred that mail!
