ARE YOU AT RISK FOR IDENTITY THEFT?

On Saturday, October 23rd, Pacific Northwest Bankers Association (PNBA) hosted its second Identity Theft Program. This was a great opportunity to learn more about the number one crime in America.What Is Identity Theft?Identity Theft is the fastest growing financial crime in America and occurs when someone wrongfully obtains and uses another person’s personal data in a way that involves fraud or deception. Stealing your purses, wallets and mail, rummaging through your trash, scamming you, and changing your address are just a few examples of Identity Theft.How do you know if you are at risk for Identity Theft? Take a moment to answer the following 10 questions.1. Do you have a mail slot on your door or a mailbox with a locking mechanism on it?2. Do you keep your social security number in a safe and secure area within your residence?3. Do you shred and/or tear all personal information prior to disposal?4. Do you scrutinize your monthly bank and credit card statements?5. Do you order and review a copy of your credit report from each of the three major credit bureaus at least once a year to make sure no fraudulent accounts have been opened in your name?6. Do you minimize the number of credit cards you carry in your purse or wallet?7. Do you avoid pre-printing your social security number or driver’s license number on your personal checks?8. Do you put your garbage out the morning of trash pickup?9. Do you maintain an emergency listing (with 800 phone numbers and account numbers) of creditor accounts in case of emergency?10. Do your credit cards have your photo printed on them?If you answered no to just three or more, then you are putting yourself at risk.How Do You Minimize Your Risk?There are many things you can do to minimize your risk. You can start by correcting those questions to which you answered no above. Additionally:* Never leave your wallet, purse, checkbook or credit receipts in your car.* Don’t put bill payments in your unlocked mailbox for postal pickup. Deposit outgoing mail in post office collection mailboxes or at your local post office.* Never use a debit card or check card when shopping online.* Be stingy with your social security number.* Prevent credit reporting agencies and creditors from selling your name, social security number, address and credit rating by completing an “opt out” form.These are just a few of the most common things you should do. Remember, despite ones best efforts to protect your personal data, skilled identity thieves may use a variety of methods both low and high tech to access your data.What Do You Do If You Become A Victim?* Contact the fraud departments of each of the three major credit bureaus immediately. Equifax – www.equifax.com 800-525-6285 Experian – www.experian.com 888-397-3742 TransUnion – www.transunion.com 800-680-7289 You can also place a fraud alert on your credit report.* Close accounts that you know or believe have been tampered with or opened fraudulently.* File a police report with your local police or the police in the community where the identity theft took place.There are many other things you can do to help you both prevent and recover from identity theft. There are several resources available to you but one containing the most complete information is the Federal Trade Commission (FTC) at www.consumer.gov/idtheft or 877-438-4338.With the holiday season upon us, identity thieves are more active. Take steps now to make it difficult for them and keep your holiday safe and theft free.Respectfully submitted,Gary Melonson, Board Member of PNBAFinancial Consultant with Smith Barney