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What is Identity Theft?
Identity theft occurs when someone steals your personal information to obtain loans, open credit card accounts or even acquire a mortgage in your name.
6.4% of Americans – almost 10 million people – were victims in a single year, according to a 2005 survey by the Federal Trade Commission.
The Impact of Identity Theft
Victims can spend months or years trying to correct problems caused by identity theft. They may be unfairly turned down for loans, denied jobs and pursued by bill collectors.
On average, victims spend about 30 hours and $500 of their own money trying to correct problems caused by identity thieves.
Protecting Yourself From Identity Theft
- Protect your mailbox
Remove your mail immediately after delivery. Always deposit outgoing mail in post office collection boxes or at the post office rather than leaving it in your mailbox for the mail carrier to pick up.
- Protect your wallet
Keep items with personal information, particularly your Social Security card, in a safe place at home and do not share them with others. Memorize your Social Security number and never write it down on anything you carry. Destroy your receipts when you no longer need them.
- Protect your credit and debit cards
Sign new cards immediately. Never loan your card to anyone. Notify your bank and credit issuer when you change your address or phone number, and report all lost or stolen cards immediately. Never write down your PIN or put your account number on the outside of an envelope.
- Monitor your credit report
Fight identity theft by monitoring and reviewing your credit report. To request a free credit report once every 12 months, visit www.annualcreditreport.com. This site was established by the three nationwide consumer credit reporting companies: Equifax, Experian and TransUnion.
To learn more about identity theft, visit www.ftc.gov/idtheft.
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