Protect Your Identity

According to an FTC Study in 2003, economic losses as a result of identity theft were in excess of $52 billion.

There are multiple ways for personal information to be compromised. Among them are criminals stealing mail, going through trash, fraudulent telemarketers and phishing scams (solicitations via computer from individuals pretending to be large reputable companies). Your personal information can also be compromised by anyone to whom you havae provided it in the past.

The following are ways to minimize your potential exposure:

• Secure personal information in your home.
• Do not provide personal information over the phone or computer unless you initiate the contact.
• Place outgoing mail in blue Postal Service mailboxes.
• Use a shredder on all documents that have personal information and account numbers, as well as financial solicitations.
• Opt out of receiving financial solicitations by calling 1-888-5-OPTOUT.
• Monitor your financial records, including your credit report. Beginning September 2005, North Carolinians will be eligible to receive one free credit report annually.
• Do not carry your social security number with you.
• Request your employer and health insurance company remove your social security number from your paystub and insurance card.

In the event you discover your personal information has been used fraudulently or otherwise compromised, you should do the following immediately:

• Place a Fraud Alert on your credit file. This can be done by notifying any of the three major credit reporting agencies, which are, Equifax 1-800-525-6285, Experian 1-888-397-3742, TransUnion 1-800-680-7289.
• File a police report in your community as well as the community where the transactions took place. Keep a copy of this report in order to validate your claims to creditors and others.
• Notify your fincancial institution and close any compromised accounts.
• File a complaint with the FTC. The information provided to them is shared with law enforcement.
• Depending on the level of "victimization," enroll in a credit monitoring service.

Your personal information is most valuable to you, so take the proper steps to protect it. In the event it is compromised, contact the appropriate parties immediately. For addtional information on identity theft, visit the Federal Trade Commission website at www.consumer.gov/idtheft or www.ftc.gov.