Avoid Being a Victim of Identity Theft!
Rachel hurried through the hotel lobby's entranceway as soon as she got out of the cab, ready to leave the day's horrible exhaustion behind her. Her journey from LAX to MDW to BWI took nearly eleven hours to finish because of weather-related flight delays. She desperately wanted to take off her shoes and soak her tired feet in a warm bath to ease their pain.
I was relieved to see that the front desk line was really short. Rachel followed the clerk's signal and gave him the details of her reservation before pulling out her American Express card to pay. Rachel looked around the foyer as he went to check its legitimacy. Thinking, "They've upgraded everything since I was last here," she set out to explore. The mission-style tables, chairs, and light fixtures had supplanted the heavy, wooden furniture that had formerly filled the foyer, and her attention, hazy with exhaustion, was now fixed on them. The clerk interrupted a few minutes later to deliver the card and the key, ma'am. After Rachel returned her card to her wallet, she gathered her belongings and hurriedly made her way to her room.
Rachel was unaware that she had been a victim of identity theft that night. She might have caught him in the act of swapping cards on her if she had observed her cashier more intently rather than staring at the lobby. Underneath her room key, she would have noticed that the card wasn't hers.
In this technology era, the problem of identity theft has grown at an exponential rate, and it is currently experiencing an explosion. Particularly since the early 90s, con artists have been preying on what we normally think of as ordinary financial dealings, such as grocery store checks, online purchases, credit card applications, cell phone purchases, and many more. Information such as your name, address, phone number, income, Social Security number (SSN), and details of your bank and credit card accounts are required for every purchase.
Without your knowledge, an identity thief will steal or fraudulently use part of your personal information. The most typical tactic is for the criminal to open a credit card account using your personal details.
The problem of identity theft is overseen by the Federal Trade Commission, an institution of the federal government. If you would like to have your information shared with other private entities and law enforcement authorities, including those you may file a complaint against, you can do so by calling a dedicated hotline number (1-877-IDTHEFT). Another option is to fill out an ID Theft Affidavit and submit it to the company. This form can be used to notify them if someone has started a new account in your name. Consumers can access this affidavit online at the following link: http://www.consumer.gov/idtheft.
Numerous methods exist by which identity fraudsters might obtain your private data:
Your identification, bank cards, and credit cards could be in your wallet or purse when they steal it.
* Your financial documents, such as bank and credit card statements, tax returns, and pre-approved credit offers, are among the postal items that are stolen.
In order to redirect your mail to a different place, they will fill out a "change of address form.".
* They engage in what is called "dumpster diving" to search through garbage cans and other commercial waste for private information.
* They pose as trustworthy parties, such as landlords or employers, in order to unlawfully access your credit report, even though they do not have a legitimate need for it.
* While you're at work, they get your company or employee records.
* Your home is searched for personal information.
The information you provide about yourself online is used by them.
* They acquire your private data through "inside" brokers. If you apply for a loan, credit, or products and services at a certain store, for instance, an identity thief might bribe an employee to use your personal information.
Once they get your personal information, identity thieves will utilize it for various purposes:
In order to modify the mailing address on your credit card account, they will call your card issuer pretending to be you. After that, the imposter will begin charging your account. You might not notice the issue right away since your bills are being forwarded to the new location.
A new credit card account is established by them using your personal information (name, DOB, and SSN). Their failure to pay their debts and subsequent lawsuits will show up on your credit record as an overdue account.
* They set up your wifi or landline service.
Creating a bank account in your name and then using it to create bogus checks is what they do.
To evade eviction or pay off debts taken out in your name, they may file for bankruptcy in your name.
The criminals will empty your bank account by using fake cheques or debit cards.
* They get automobile loans in your name and use them to purchase vehicles.
American Express reimbursed Rachel for her losses, which was a relief. American Express blocked her account after seeing several strange charges and being unable to reach her to verify them; she didn't learn about the theft until she got home to California. Someone else was using Rachel's card; when she called the fraud department, they informed her of this. Their message had been placed on her answering machine. After she said she had the card on hand, she rummaged through her wallet and discovered another person's card.
[Some limitations may apply; see your card issuer for details] If you report fraud to Visa, MasterCard, or American Express, they will cover the costs. Perhaps a much different outcome would have occurred if Rachel had used a debit card. If you use a debit card instead of a credit card, the money will go straight into your bank account, and you'll have to pay for it.
So, Rachel is doing fine, isn't she? Even though Rachel received a replacement card from American Express the next day with a different account number, the issue may have persisted and even worsened if she hadn't followed the FTC's additional three recommendations:
To begin, get in touch with the main credit bureaus' fraud departments. Identify yourself as a victim of identity theft and let them know it. Get a "fraud alert" added to your record and a victim's statement to have creditors contact you before making any changes to your accounts or opening new ones. A potential identity thief could use this information to open other accounts in your name.
Have a copy of your credit report sent to you by each of the three major bureaus simultaneously. If you request a copy of your credit report in writing and the bureau determines that it is erroneous due to fraud, they are required by law to provide you with a free copy. Verify that no new fraudulent accounts have been created in your name or that no one has altered your current accounts without your knowledge by reviewing your reports thoroughly.
Next, get in touch with the account holders of any fraudulently opened or tampered with accounts. Credit card firms, utility providers (phone, internet, etc.), banks, and other lending institutions are all examples of creditors.
3. Lastly, if you are able to do so, you should report the incident to the authorities in your town or the one in the area where the theft of personal information occurred. If any financial institution, such as a bank or credit card company, requests verification of the crime, you should retain a copy of the police report. The report can still be useful when dealing with creditors, even if the police don't manage to apprehend the thief.
All things considered, annual losses to individuals and companies due to identity theft amount to billions of dollars. Consumers end up footing the bill for more expensive goods and services and higher interest rates. Stay vigilant, especially when a third party is handling your personal information, to defend yourself from identity theft and avoid becoming a victim.
