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Having An Identity Crisis?

Electronic commerce provides a new level of ease and efficiency for both consumers and businesses. Credit cards, ATM cards, telephone calling cards, Internet shopping malls, on-line banking, and direct deposit are only a few examples of tools that facilitate the rapid transfer of funds.

The high-tech security measures taken to protect these funds is often bypassed by low-tech thieves. A Social Security or driver’s license number is often all that is necessary to wreak havoc on a victim’s credit report and bank account.

Often identity information is sold to criminals by dishonest employees of retail stores, hotels, restaurants, mail order houses, financial institutions, and government agencies. Criminals use this information to impersonate the victims, spending as much money as they can in as short a time as possible before moving on to someone else's name and account information.

The Better Business Bureau recommends that consumers exercise extreme care with their vital data. To minimize your losses due to identity theft, the BBB suggests the following:

• Don't carry extra credit cards, your Social Security card, birth certificate, or passport in your wallet or purse, unless it is necessary.
• When using an ATM or public telephone, shield the screen or keypad so "shoulder surfers" cannot read your Personal Identification Number (PIN) or other data.
• Take ATM, credit card, and other receipts with you, and either store them in a safe place or destroy them. Also shred pre-approved credit card offers. "Dumpster divers" can get them from the trash.
• Cancel all unused credit card accounts. Even though you don't use them, their account numbers are recorded in your credit report which is full of data that can be used by identity thieves.
• Keep a list of all your credit cards, the account numbers, and telephone number of the customer service department in a safe place.
• Protect your Social Security Number (SSN). The SSN is the key to your credit and banking accounts and is the prime target of criminals. Don't give out your SSN or any credit card number to anyone who calls you on the phone. If the callers says there is a problem with your account, hang up and call the company’s customer service line listed on your statement for verification.

If you become the victim of identity theft, it is extremely important that you act immediately to stop further use of your identity. Report the crime to the police. Immediately call all your credit card issuers (the call can minimize your liability from any fraudulent charges). Call the fraud unit of the three credit reporting companies: Equifax, Experian (formerly TRW), and Trans Union. (The BBB can provide you with the credit bureau phone numbers.) Notify your bank, cancel all accounts, and obtain new account numbers.

The Better Business Bureau does not endorse, recommend, or disapprove any product, service or organization.