It is not entirely possible to prevent identity theft, but you can minimize your risks by using some of the following ideas to manage your personal information with intelligence:

The Federal Trade Commission publishes "Take Charge:  Fighting Back Against Identity Theft".  This publication is a great place to start if you have questions regarding identity theft.

Tips that we advise our members regarding identity theft are:

• Order a copy of your credit report from each of the three major credit bureaus (Equifax, Experían or TransUnion) at least annually. One free copy can be ordered each year from each credit bureau. Go to www.annualcreditreport.com to order these reports.

• Make sure it’s accurate, and

•  Includes only those activities you’ve authorized.

Some of the tips included in this publication are:

• Place passwords on your credit cards, credit union and phone accounts.

• Secure personal information in your home, especially if you:

• Have roommates,

• Employ outside help, or

• Are having service work done in your home.

• Ask about information security procedures in your workplace.

Other recommended steps:

• Carefully store or dispose of confidential documents.

• Destroy receipts and old statements in order to keep out of the3 hands of "dumpster divers". 

• Review all account statements promptly.  Early detection of ID theft is the key to minimizing loss.

• Use secure mailboxes to send and receive mail.

• Use caution when asked for personal information over the phone, internet or email.

• Be aware of scam tactics such as 'phishing' or 'spoofing'.

Phishing - pronounced like 'fishing'.  The act of sending an email to a user falsely claiming to be an established legitimate enterprise in an attempt to scam the use into surrendering private information that will be used for identity theft.  The email directs the user to visit a website where the user is asked to update personal information, such as passwords and credit card, social security and bank account numbers, which the legitimate organization already has.  The website, however, is bogus and set up only to steal the user's information.

Spoofing - email spoofing is the forgery of an email header so that the message appears to have originated from someone or somewhere other than the actual source.

Consider placing a security code on your accounts.

Resources

Publications

Federal Trade Commission (FTC)

Federal Deposit Insurance Corporation (FDIC)

Your Wallet: A Loser’s Guide

Department of Justice

National Credit Union Administration (NCUA)

How to Avoid Becoming a Victim of Identity Theft

Social Security Administration

Identity Theft and Your Social Security Number

Boston Federal Reserve Bank

Identity Theft

© 2005 Wisconsin Credit Union League

RESPONSE TO ID THEFT

If you think your identity has been stolen, here's what to do now:

1.  Contact the fraud departments of any one of the three major credit bureaus to place a fraud alert on your credit file right away.

Equifax - Call:  800-685-1111 or write:  P O Box 740241, Atlanta GA  30374-0241

Experian - Call:  888-397-3742 or write:  P O Box 2002, Allen TX  75013

TransUnion - Call:  800-888-4213 or write:  P O Box 1000, Chester PA  19022

The fraud alert requests creditors to contact you before opening any new accounts or making any changes to your existing accounts. As soon as the credit bureau confirms your fraud alert, the other two credit bureaus will be automatically notified to place fraud alerts, and all three credit reports will be sent to you free of charge. Review the credit reports carefully.

2.  Close the accounts that you know or believe have been tampered with or opened fraudulently.

Use the ID Theft Affidavit when disputing new unauthorized accounts. The affidavit can be obtain online at: https://www.ftccomplaintassistant.gov/

Furnish copies or originals to creditors as needed. 

3.  File a police report. 

Get a copy of the report to submit to your creditors and others that may require proof of the crime. 

Keep a copy for yourself. 

4.  File your complaint with the Federal Trade Commission (FTC). The FTC maintains a database of identity theft cases used by law enforcement agencies for investigations. Filing a complaint also helps them learn more about identity theft and the problems victims are having so that they can better assist you.

For additional advice go to FTC's Identity Theft Home Page at: http://www.ftc.gov/bcp/menus/consumer/data/idt.shtm. 

In-depth information, on recovering from identity theft and help with specific problems, can be found in Take Charge: Fighting Back Against Identity Theft (formerly: ID Theft: When Bad Things Happen to Your Good Name) via the Internet at:   http://www.ftc.gov/bcp/edu/pubs/consumer/idtheft/idt04.shtm or a printed copy may be obtained from your credit union.