When one’s identity is stolen, it is important to take immediate steps to limit the amount of damage to one’s credit score and finances.
Once it is established that one has been a victim of identity theft, one should act fast and file a police report in order to alert the proper authorities to ensure all necessary steps will be taken to limit one’s liability.
After filing a report, one should close credit card accounts and notify all financial institutions. Credit cards are often the first target for identity theft. Personal information can be used immediately to make purchases and take out cash.
Next, one should alert a credit reporting agency. Equifax, Experian and TransUnion are the three major credit reporting agencies that collect credit history on consumers and deliver a calculated score based on factors such as repayment behavior. Contacting these agencies can alert consumers of unusual activity.
The last immediate action one should do is contact the Federal Trade Commission (FTC). One should file a complaint to help federal authorities create statistics on the methods and targets of identity thieves and aid them in tracking down criminals to prevent future theft.
Sophomore Nicole Baker said, “My dad’s friend was a victim of identity theft. He lost his wallet and the person who found it used his credit card to make big purchases and withdraw money. When he finally got done filing the report, the identity theft had already caused quite a lot of damage.”
Although it is important to know the immediate actions to take when one is a victim of identity theft, it is just as important to know the precautions to be less vulnerable to the crime.
One should never give out personal information on the phone, through the mail or over the Internet unless it is confirmed that one is dealing with a legitimate organization. Many identity thieves pose as bank representatives, Internet service providers or even government agencies.
Freshman Shajaira Fiesta said, “My mom takes precautions by not letting me shop online. She doesn’t trust online shopping web sites and she doesn’t want her credit card information to be on the Internet.”
Another precaution is to secure all personal information such as one’s social security number in a safe place at home.
When going out, one should never place wallets or valuables in back pockets or open purses. Back pockets make it easier for people to pick-pocket. Items easily slide out without one knowing.
