By Sher S. Miller, CPA
Sher Miller Financial Services

Identity Theft is the fastest growing white collar crime now. Just this week, one of my very good friends told me she was a victim of identity theft, and I too have been a victim of identify theft—not once but twice!!

So what can you do to prevent being a victim? Here are some suggestions I have compiled from my work as a financial adviser. Please forward these on to all your friends and family. You never know who will be next!!

Identity Theft Prevention Checklist

1. Order a credit report from the three major credit bureaus and review them all to make sure it is accurate and includes only those activities and accounts you’ve authorized. If you find an error on your report, notify the credit bureau immediately. The numbers to call are:
   
   Equifax (www.equifax.com) 1-800-685-1111
   Experian (www.experian.com) 1-888-397-3742
   TransUnion (www.transunion.com) 1-800-916-8800
   Or you can get a copy of all three online immediately by going to www.myfico.com.
2. Get a confetti type shredder and shred all copies of bills and other printed material that contains account numbers or passwords, birth dates, social security numbers, telephone calling cards, or anything else that could be useful to someone bent on stealing from you. You can get these at any office supply store.
3. Be careful what information you share via email or at unsecured web sites. Check for “https” at the beginning of any web page URL (i.e. address) as well as a small padlock icon at the bottom of your browser window before providing anything sensitive via the Internet.
4. Secure personal information in your home including checkbooks, social security cards, copies of bills kept with account numbers, health insurance statement (usually have your social security number on them), etc.
5. Don’t give out personal information on the phone, through the mail or over the Internet unless you’ve initiated the contact or are sure you know who you’re dealing with. Many identity thieves may pose as representatives of banks, Internet Service Providers, or even government agencies to get you to reveal identifying information.
6. Guard your mail and trash from theft. Deposit outgoing mail in post office collection boxes or at the post office. Remove mail from your mailbox promptly, or better yet, get a locking mailbox. Also, instead of having your bank checks mailed to you, ask the bank to send them to your local bank for pickup by you.
7. Limit the number of credit cards you have and carry with you. You should make a copy of the front and back of all credit cards, drivers license, and anything else you carry in your wallet and store this copy in a secure location. This will help in the notification process if you ever have your wallet stolen.
8. Pay attention to your billing cycles. Follow up with creditors if your bills don’t arrive on time. A missing credit card bill could mean an identity thief has taken over your account and changed your billing address.
9. Keep your purse and wallet in a safe place at work.
10. Protect your Social Security number! This one number is the key to most of your financial and medical history.

If you become a victim of identity theft, take the following actions:

1. Get copies of your credit reports and check for unusual activity. You are entitled to a free report from each credit bureau if you are a fraud victim.
2. Ask that a “fraud alert” be put in your file that asks lenders to contact you before granting credit in your name.
3. File a report with your local police department. Although there may be little they can do, you may need this for insurance purposes later.
4. Contact the creditors where fraudulent accounts were opened in your name. They will send you a form to sign so they can begin their investigation process.
5. Monitor all bills received closely for further discrepancies.