Last week, my aunt’s apartment was broken into. In addition to jewelry, money, and the television, the thieves stole all her financial paperwork including bank records, credit card statements, and the title to her car. Apparently, her financial information can become more lucrative and easier to turn into money than the traditional big ticket items that thieves had targetted. The local police were of little help, so we did some research into what actions she should take.

The Federal Trade Commission (FTC) and the U.S. Department of Justice have helpful and informative web sites dealing with identity theft. All agree that after filing a report with your local police department, the next thing you should do is to contact the three major credit bureaus and have a fraud alert placed on your identity. Notifying one of the three should trigger a chain of events where the other two are also notified, but you may want to confirm with these agencies. A fraud alert notifies creditors that additional steps are required whenever credit is to be granted. These steps can make it more difficult for thieves to open new accounts or alter existing accounts by requiring proof of identity. An initial alert stays on your account for 90 days. However, the FTC notes that identity fraud may occur months after the original theft, so an extended alert is available which remains active for seven years.

• Equifax: 1-800-525-6285; http://www.equifax.com
• Experian: 1-888-EXPERIAN (397-3742); http://www.experian.com
• TransUnion: 1-800-680-7289; http://www.transunion.com

A fraud alert will also give you a right to copies of your credit report from these agencies. However, you should always check your credit report at least yearly to guard against theft even if your home has not been burgled. You can obtain copies of your credit report through FreeCreditReport.com. In addition to checking for outright fraud, you can also protect yourself against errors that may affect your credit score. Savvy consumers know to keep their credit report clean to avoid problems obtaining low interest credit. If you find a problem, you should contact any creditors where your identity has been fraudulently used. You should also contact any financial institutions where you have accounts that an identity thief has taken over.  You may need to cancel those accounts, place stop-payment orders on any outstanding checks that may not have cleared, and change your Automated Teller Machine (ATM) card, account, and Personal Identification Number (PIN).

The FTC also reports that “if your local police are not familiar with investigating information compromises, contact the local office of the FBI or the U.S. Secret Service. Check the blue pages of your telephone directory or an online search engine for the number of the nearest field office.” You should also make sure to keep copies of any police reports so that if there are any problems with creditors, you can speed the resolution. You can also contact the FTC for individual guidance by sending an email to idt-brt@ftc.gov. “Please provide information regarding what has occurred, including the type of information taken, the number of people potentially affected, your contact information, and contact information for the law enforcement agent with whom you are working. The FTC can prepare its Consumer Response Center for calls from the people affected, help law enforcement with information from its national victim complaint database, and provide you with additional guidance as necessary.”

To protect against identity theft before it occurs, there are some steps you can take.

• Shred all personal information before tossing into the trash. You should shred all account statements, phone bills, credit card offers, and refinance offers - anything that contains your name, account number, social security number, or other financial information that thieves could use to steal your identity. You may discover that you’ll need to shred more documents than you may have originally been aware. Also look into purchasing a good cross-cut shredder that will shred your documents into tiny, confetti-like pieces. When discarding these clippings, you may also want to put them in several different garbage bags to keep thieves from having all the components to reconstruct your documents in one easy-to-carry bag.
• Limit the personal information that you keep in your home or automobile. You should consider renting a safe deposit box for long-term documents such as ownership titles, savings bonds, birth certificates, and social security cards. However any documents that you do keep in your home for banking, tax, or other reasons should be put under lock and key. You may want to invest in a fire-proof safe that you bolt to the floor to prevent thieves from simply walking off with it. However, at minimum, these documents should be kept in a locked desk or file cabinet.
• Do not give your personal information or safe words to someone who calls you on the telephone. Do not trust someone who reports to be calling from your bank and requires information that is already on file with them. If you receive an offer for free prizes or valuable items, you should request a written application to be mailed to you. Then, review the application carefully and make sure it’s from a reputable company or financial institution. The Better Business Bureau can give you information about businesses that have been the subject of complaints. If unsure of the person’s identity on the telephone, ask to call them back and then call them through the published telephone number, not the number they give you which may simply be their disposable cell phone number. Also, do not trust the name displayed on Caller ID. This information can be altered by thieves.
• The more information that you have printed on your personal bank checks (such as your Social Security number or home telephone number) the more personal data you are routinely handing out to people who may not need that information.
• When traveling, have your mail held by the post office.
• Do not give out personal information from a public telephone or phone booth where theives may be listening. Instead, wait for a less public location like your hotel room.

If you have any other tips or ideas for protecting your identity, please add them along with any other comments.

"He is the furthest from danger, who is on his guard even when in safety.”
Proverb