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You're a good solid
law-abiding citizen, work at
a steady job, pay your taxes
and your bills on time and
suddenly you find yourself
receiving calls from debt
collection agencies, unable
to get a loan for that new
car, or have a warrant out
for your arrest. What
happened? You may be the
latest victim of identity
theft.
Over the past few years,
we've all heard about the
growing problem of identity
theft. Trying to keep a step
ahead of the identity
thieves has become
increasingly difficult.
Eight years ago, Congress
passed legislation to combat
the rising tide of identity
theft. But identity thieves
don't rest. They are always
looking for new victims and
finding new ways to steal.
You go out to a nice
restaurant for dinner. The
waiter brings your bill. You
give him your credit card
and he disappears. A few
minutes later, he returns
with your receipt. You give
him a nice tip, not knowing
that he has already helped
himself to your credit card
information until you see
thousands of dollars worth
of charges on your next
bill.
You receive your tenth
credit card solicitation for
the week in the mail.
Frustrated, you throw it in
the trash, along with the
others, and wheel your trash
cart to the curb. While
you're sleeping or at work,
an identity thief goes
through your trash, takes
the credit card
solicitations with your name
on them and tries opening
new accounts. It would be
advisable to invest in a
paper shredder. Anything
with personal identity
information should be
shredded prior to disposal.
Your phone rings and it is
someone claiming to be from
your bank telling you that
they have had some computer
problems and that your
account may have been
compromised. They need you
to verify your bank account
and social security numbers.
They also tell you it might
be a good idea to give them
your personal identification
number for your debit card
so they can check as well.
You comply and the next
thing you know is that all
of the money in your account
has been withdrawn. A word
of advice: No legitimate
banker will ask you for this
information over the phone
or over the Internet!
It sometimes takes years
before individuals realize
that they have become a
victim of identity theft.
You may not find out until
you are denied credit,
denied a job, or hear from
debt collectors asking for
payment on debts you did not
incur.
How can you combat identity
theft on your computer? The
Federal Deposit Insurance
Corporation suggests the
following steps:
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Be sure your virus
protection programs on
your computer are
updated regularly.
-
Do not
open files sent to you
by someone that you do
not know.
-
Use firewall protection
on your computer.
-
Use a secure browser.
-
Do not store personal
financial information on
your laptop computer in
case it is stolen.
-
Before disposing of an
old computer, be sure to
delete personal
information.
Credit bureaus can sell
information to credit card
companies or other lenders
who might use the
information in deciding
whether to send you a
solicitation for a credit
card offer. This is called
prescreening. One way to cut
down on the amount of these
types of offers you receive
in the mail is to opt out of
such offers by calling
888.867.8688.
A report issued by the
Presidents Identity Theft
Task Force in April 2007
suggests that while social
security numbers are
necessary for use by the
federal government for
purposes of employment,
taxation, and sharing of
information with law
enforcement, the government
should seek alternatives to
using social security
numbers as identifiers in
the public sector.
Until that time, we, as
consumers, must continue to
be vigilant in protecting
our private information. If,
after all of your best
efforts, you do find
yourself a victim of
identity theft, immediately
contact the three credit
reporting bureaus and the
local police.
This information is provided
with the understanding that
the association is not
engaged in rendering
specific legal, accounting,
or other professional
services. If specific
expert assistance is
required, the services of a
competent, professional
person should be sought.
Provided as a public service
by the Pennsylvania
Association of Community
Bankers.
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