Identity Theft

Identity theft is one of the fastest growing crimes in the country. It's costing everyone millions of dollars each year. Identity thieves are very creative. One common practice is for someone to call, pretending to be a representative of your credit card company. They ask if you have your credit card in your possession. They encourage you to call a toll-free number to verify that they are valid representatives and that the call is legitimate. Do not call the number they give you. Instead, ask for their name and ask them why they are calling. Tell them you're going to verify as they suggest. Instead, call the toll-free number you have for your credit card's customer service. This way you'll know you are talking to a legitimate company representative.

Another common scam uses email to trap its victims. This practice is commonly referred to as phishing. "Phishing" is a type of fraud that targets e-mail clients. As an example, you may receive an unsolicited e-mail message, seemingly urgent, asking you to click a link to update your personal or confidential information, such as account numbers, social security/tax ID numbers, passwords, or Personal Identification Numbers (PINs). Clicking the link takes you to a fake Web site, designed to look like a legitimate company, and they steal your information. Please be aware that legitimate companies will not ask you to divulge private information by sending you an e-mail, and will not insert a link for you to contact them on the Internet.

Here are some easy ways you can avoid identity theft:

Do not give out your bank account number, your social security number, pin number or any personal information unless you initiated the call.
Use a paper shredder to dispose of important documents and worksheets.
Keep a list of credit cards, account numbers and lost-card contact toll-free numbers in a safe place, but NOT in your wallet!
Immediately notify your credit card company if your card is lost or stolen.
Make a list of telephone numbers and Web site addresses handy for all three credit reporting agencies.
Send change of address forms to each credit card company when you move.

Check your Credit Report Once a Year - Free

As of June 1, 2005, consumers in Texas may request a free copy of their credit reports. The federal Fair Credit Reporting Act, as amended by the Fair and Accurate Credit Transactions Act requires each of the nationwide consumer reporting companies to provide consumers with a free copy of their credit reports once every 12 months.

The three nationwide consumer-reporting companies have set up one central website, toll-free telephone number, and mailing address through which consumers can order a free annual credit report. To order, click on www.annualcreditreport.com, call (877) 322-8228, or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. The form may be accessed at www.ftc.gov/credit.

Consumers may order from each of the three nationwide consumer reporting companies at the same time, or from only one or two. The law allows consumers to order one free copy from each of the nationwide consumer reporting companies every 12 months.

The best protection for identity theft is to stay informed and be cautious when divulging personal information. Although these tips aren't completely failsafe, it sure helps to be proactive. And if something should go wrong, you can limit the damage by knowing what steps to take.