FAQ: Identity Theft 101

most viewed right now
 289
Video inside Footage of Troy Ave Killing his own friend in Crossfire
266 comments
@misc
most viewed right now
 209
Troy Ave), 33, charged with Attempted Murder & Criminal Possession of a Weapon
59 comments
@hiphop
most viewed right now
 166
Troy Ave has been arrested after the deadly shooting at concert
355 comments
@hiphop
most viewed right now
 138
Video inside Gucci Gets Maybach upon returning from prison & his gold and platinum p..
24 comments
@hiphop

section   (0 bx goons and 1 bystanders) Share this on Twitter   Share this on Facebook
 

Props Slaps
 8 years ago '04        #1
5649 pageviews
0 comments


S|S 
space
avatar space
space
$11,589 | Props total: 1 1
FAQ: Identity Theft 101
 

 


What is identity theft?

Identity theft occurs when someone uses your personally identifying information, like your name, Social Security number, or credit card number, without your permission, to commit fraud or other crimes.

The FTC estimates that as many as 9 million Americans have their identities stolen each year. In fact, you or someone you know may have experienced some form of identity theft.

The crime takes many forms. Identity thieves may rent an apartment, obtain a credit card, or establish a telephone account in your name. You may not find out about the theft until you review your credit report or a credit card statement and notice charges you didnít makeóor until youíre contacted by a debt collector.

Identity theft is serious. While some identity theft victims can resolve their problems quickly, others spend hundreds of dollars and many days repairing damage to their good name and credit record. Some consumers victimized by identity theft may lose out on job opportunities, or be denied loans for education, housing or cars because of negative information on their credit reports. In rare cases, they may even be arrested for crimes they did not commit.


How do thieves steal an identity?

Skilled identity thieves may use a variety of methods to get hold of your information, including:

1. Dumpster Diving. They rummage through trash looking for bills or other paper with your personal information on it.
2. Skimming. They steal credit/debit card numbers by using a special storage device when processing your card.
3. Phishing. They pretend to be financial institutions or companies and send spam or pop-up messages to get you to reveal your personal information.
4. Changing Your Address. They divert your billing statements to another location by completing a change of address form.
5. Old-Fashioned Stealing. They steal wallets and purses; mail, including bank and credit card statements; pre-approved credit offers; and new checks or tax information. They steal personnel records, or bribe employees who have access.
6. Pretexting. They use false pretenses to obtain your personal information from financial institutions, telephone companies, and other sources. For more information about pretexting, click here.

What do thieves do with a stolen identity?

Once they have your personal information, identity thieves use it in a variety of ways.

Credit card fraud:
* They may open new credit card accounts in your name. When they use the cards and don't pay the bills, the delinquent accounts appear on your credit report.
* They may change the billing address on your credit card so that you no longer receive bills, and then run up charges on your account. Because your bills are now sent to a different address, it may be some time before you realize there's a problem.

Phone or utilities fraud:
* They may open a new phone or wireless account in your name, or run up charges on your existing account.
* They may use your name to get utility services like electricity, heating, or cable TV.

Bank/finance fraud:
* They may create counterfeit checks using your name or account number.
* They may open a bank account in your name and write bad checks.
* They may clone your ATM or debit card and make electronic withdrawals your name, draining your accounts.
* They may take out a loan in your name.

Government documents fraud:
* They may get a driver's license or official ID card issued in your name but with their picture.
* They may use your name and Social Security number to get government benefits.
* They may file a fraudulent tax return using your information.

Other fraud:
* They may get a job using your Social Security number.
* They may rent a house or get medical services using your name.
* They may give your personal information to police during an arrest. If they don't show up for their court date, a warrant for arrest is issued in your name.


How can you find out if your identity was stolen?

The best way to find out is to monitor your accounts and bank statements each month, and check your credit report on a regular basis (myFICO.com). If you check your credit report regularly, you may be able to limit the damage caused by identity theft.

Unfortunately, many consumers learn that their identity has been stolen after some damage has been done.

* You may find out when bill collection agencies contact you for overdue debts you never incurred.
* You may find out when you apply for a mortgage or car loan and learn that problems with your credit history are holding up the loan.
* You may find out when you get something in the mail about an apartment you never rented, a house you never bought, or a job you never held.


What should you do if your identity is stolen?


Filing a police report, checking your credit reports, notifying creditors, and disputing any unauthorized transactions are some of the steps you must take immediately to restore your good name.


Should you file a police report if your identity is stolen?

A police report that provides specific details of the identity theft is considered an Identity Theft Report, which entitles you to certain legal rights when it is provided to the three major credit reporting agencies or to companies where the thief misused your information. An Identity Theft Report can be used to permanently block fraudulent information that results from identity theft, such as accounts or addresses, from appearing on your credit report. It will also make sure these debts do not reappear on your credit reports. Identity Theft Reports can prevent a company from continuing to collect debts that result from identity theft, or selling them to others for collection. An Identity Theft Report is also needed to place an extended fraud alert on your credit report.


How long can the effects of identity theft last?

It's difficult to predict how long the effects of identity theft may linger. That's because it depends on many factors including the type of theft, whether the thief sold or passed your information on to other thieves, whether the thief is caught, and problems related to correcting your credit report.

Victims of identity theft should monitor financial records for several months after they discover the crime. Victims should review their credit reports once every three months in the first year of the theft, and once a year thereafter. Stay alert for other signs of identity theft.

Don't delay in correcting your records and contacting all companies that opened fraudulent accounts. Make the initial contact by phone, even though you will normally need to follow up in writing. The longer the inaccurate information goes uncorrected, the longer it will take to resolve the problem.


What can you do to help f!ght identity theft?

A great deal.

Awareness is an effective weapon against many forms identity theft. Be aware of how information is stolen and what you can do to protect yours, monitor your personal information to uncover any problems quickly, and know what to do when you suspect your identity has been stolen.

Armed with the knowledge of how to protect yourself and take action, you can make identity thieves' jobs much more difficult. You can also help f!ght identity theft by educating your friends, family, and members of your community.

For more information, visit:
[pic - click to view]

 www.ftc.gov

top in section
 35
40 comments
top in movies
top in section
 20
17 comments
top in games
top in section
 65
413 comments
top in hiphop

 

 
 
 
Home      
  
 

 






most viewed right now
 57
Image(s) inside She loves @nal
71 comments
23 hours ago
@thotsdimesetc
most viewed right now
 48
Image(s) inside Troy Ave's Friend "Banga" Was The Person Who Was Killed Tonight
264 comments
21 hours ago
@hiphop
most viewed right now
 45
Video inside Who is this ?
61 comments
23 hours ago
@thotsdimesetc
most viewed right now
 39
Video inside Whats really going on in Atlanta? Crazy...
177 comments
1 day ago
@wild'ish
most viewed right now
 26
Image(s) inside Hyundai Hires Bentley Designers, Gets Serious About New Genesis Brand
45 comments
20 hours ago
@rides
most viewed right now
 21
Image(s) inside Serena Williams Ass Is INSANE
92 comments
23 hours ago
@thotsdimesetc
most viewed right now
 17
Image(s) inside Hope it hasn't been posted - The Story of Rick
153 comments
1 day ago
@wild'ish
most viewed right now
 15
Image(s) inside I would drink a bottle of shampoo and crap out a bar of soap for you g..
43 comments
2 days ago
@thotsdimesetc
back to top
register contact Follow BX @ Twitter Follow BX @ Facebook search BX privacy