Identity Theft and You: How to Avoid Becoming a Victim

Identity Theft & You: How to Avoid Becoming a Victim

Identity theft is one of the fastest growing crimes in America, affecting more than 10 million citizens per year, according to the Federal Trade Commission. Keep in mind the following basic precautions to avoid becoming a victim yourself.

Prevent mail theft. Stealing mail is one of the most common ways thieves gain access to personal information. Think about buying a mailbox that locks or installing a mail slot in your door to prevent bills, convenience checks, pre-approved offers, etc. from getting into the wrong hands.
Choose to “opt out.” Avoid pre-approved credit offers by calling 1-888-5-OPT-OUT. This is a number established by the major credit bureaus allowing you to opt out of most pre-approved offers, which can be easily turned into fraudulent accounts in your name.
Protect personal information. Once you no longer need them, shred documents that contain personal information like account numbers and your Social Security number. Do not write credit card numbers on checks or have your Social Security number or driver’s license number printed on them. Also, be careful about giving out personal information over the phone, especially when you did not initiate the call. Remember that it’s okay to question the information gathering practices of merchants, creditors, government agencies and others. Don’t be afraid to ask if they need this information for a valid purpose.
Monitor your credit report and billing statements. Keeping a close eye on your credit activity will help you detect fraud more quickly. Michigan residents can order one FREE credit report from each of the three credit bureaus per year by calling 1-877-322-8228 or visiting www.annualcreditreport.com. (Be careful of imitator Web sites that will try to charge you for this service or sell you other services.)
Watch out for the latest types of scams — phishing and spoofing. Identity thieves impersonate legitimate businesses either by setting up bogus Web sites (spoofing), sending e-mails that try to lure consumers into giving out personal account information (phishing) or some combination of both. If you receive an e-mail asking you to “update” account information, do not respond. Financial institutions have your information on file and will never ask you to provide them with confidential information unless they are verifying your identity when you initiate a call or e-mail to them.

For more information about ID theft, contact Extra Credit Union at (586) 276-3000.