Growing Number Of Americans Are Becoming Victims Of Identity Theft

Sept. 8, 2009 - PRLog -- The incidence of identity theft in the United States continues to increase, despite consumer education efforts.

According to the Javelin Strategy & Research Center, nearly 10 million Americans were victims of ID theft in 2008, a 22 percent increase over the previous year.

The U.S. Department of Justice defines identity theft as all types of crime in which someone illegally obtains and uses another individual’s personal information, typically for economic gain.

Connecticut Better Business Bureau President, Paulette Scarpetti, says education is the key to preventing identity theft.

“While there is no foolproof way to prevent this crime, there are simple steps consumers can take to protect themselves and avoid the time and expense involved in correcting the many problems it causes.”

Contrary to popular belief, only 11 percent of all ID theft is committed through online methods. The majority of identity theft, 43 percent, is perpetrated by low-tech methods such as stolen wallets and documents.  

Criminals can easily obtain personal information without breaking into a home by listening while a consumer gives a credit card number over the phone or by going through garbage cans to obtain copies of bank or credit card statements, or other documents, some of which may contain a Social Security Number.

“It is important for consumers to protect information and personal documents, and shred them when they are no longer needed.” adds Scarpetti.

Mailboxes are another source for identity theft. Outgoing mail with personal information should be dropped in a U.S. Postal Service box, and consumers can further protect themselves by opting-out of incoming mail offers for credit cards and loans.

Most people discover their personal information is being used by someone else when they no longer receive financial statements, or receive letters or phone calls telling them that they have been accepted or denied a new loan or credit card, or find unauthorized charges on credit card statements.

Fixing the problem:
So what do you do if you are the victim of identity theft?  Connecticut Better Business Bureau offers the following advice:

-The Federal Trade Commission (FTC) is responsible for processing complaints and referring them to credit reporting and law enforcement agencies. Contact the FTC toll-free at 1-877-ID THEFT (877-438-4338).

-Inform your local Postal Inspection Service if you suspect an identity thief has redirected your mail to commit fraud.  Also inform the Social Security Administration 800-269-0271, and the Internal Revenue Service (IRS) 1-800-829-0433.  These government agencies also may be reached online.

-Contact your financial institutions and credit card issuers to let them know your accounts have been compromised and ask about zero-liability protection against unauthorized transactions.

Always monitor monthly financial statements and every twelve months, obtain a free credit report online from the ONLY authorized source under federal law, AnnualCreditReport.com or by calling 1-877-322-8228.  More helpful hints about preventing identity theft are available at www.bbb.org.

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Founded in 1928, Connecticut BBB is an unbiased non-profit organization that sets and upholds high standards for fair and honest business behavior. For more advice on finding companies and businesses, start your search with trust at www.bbb.org.