I am one of the 5.26 percent. That is the number of people affected by identity theft each year in the United States. In our country alone, an identity is stolen once every three seconds.
headshot-turnerIdentity theft or identity fraud refers to all types of crime in which someone wrongfully obtains and uses another person’s personal data to commit fraud or deception, usually for economic gain. Such personal information includes name, Social Security number (SSN), bank or credit card numbers, and other valuable identifying information.
Identity theft is big business – and a serious crime that can have long and lingering effects. I know firsthand the harm that can be inflicted from this type of victimization and the frustration associated with repairing the damage. I have been a victim of identity theft twice in less than a year. However, in both instances I was fortunate to discover the theft early, allowing me to immediately take the necessary steps to protect my finances and credit and to reduce any negative fallout.
Believe me, if unsavory characters have your personal information, they can do a lot of damage by draining your bank accounts, running up charges on credit cards, opening new utility accounts or getting medical treatments on your health insurance.
Approximately 9 million people in the nation each year are victims and must deal with the serious consequences that result from identity theft. It can take months and years – not to mention money – to undo the damage done to your credit record and to clear your name. And, if that is not enough, you can miss out on job opportunities, be turned down for loans or even get arrested while you are trying to resolve the issues surrounding the crime.
Through my own experiences, I learned some very useful information from the IRS, including:
How to minimize becoming a victim:
• Don’t carry your social security card or any documents with your SSN on it.
• Don’t give a business you SSN just because they ask – only when absolutely necessary.
• Protect your financial information.
• Check your credit report every 12 months.
• Secure personal information in your home.
• Protect your personal computers by using firewalls, anti-spam/virus software, update security patches and change passwords for internet accounts.
• Don’t give personal information over the phone, through the mail or on the Internet unless you have initiated the contact and are sure who you are dealing with.
What to do if you are a victim:
• Report incidents of identity theft to the Federal Trade Commission (FTC) at www.consumer.gov/idtheft or the FTC Identify Theft hotline at 1-877-4338 or TTY 1-866-653-4261.
• File a report with the local law enforcement.
• Contact the fraud departments of the three major credit bureaus: Equifax -www.equifax.com or 1-800-325-6285; Experian – www.experian.com or 1-888-397-3742, or TransUnion – www.transunion.com or 1-800-680-7289.
Both of my experiences were related to the IRS so I quickly discovered that identity theft can impact your tax records. For instance, your social security number can be used to get a job and that person’s employer would report the W-2 wages earned using your SSN to the IRS – giving the appearance that you did not report all of your income. Also, when you file your return, the IRS will think you have already filed and received a refund. If you receive a letter from the IRS that states that more than one return has been filed or that IRS records indicate you received wages from an employer unknown to you, be alert to the possibility of identity theft. If you think your tax records are at risk because of a lost purse or wallet or questionable credit card activity, contact the IRS Identity Protection Specialized Unit at 1-800-908-4490. For additional information, go to IRS.Gov (keyword identity theft). Remember, the IRS does not initiate contact with taxpayers via e-mail nor request detailed personal information via e-mail.
If your identity is stolen, be sure to notify creditors disputing any unauthorized transactions.
Thieves can steal an identity through a number of methods:
Dumpster Diving. They rummage through trash looking for bills or other paper with personal information on it.
Skimming. They steal credit/debit card numbers by using special storage devise when processing your card.
Phishing. They pretend to be financial institutions or companies and send spam or pop-up messages to get you to reveal your personal information.
Changing Your Address. They divert your billing statements to another location by completing a change of address form.
Pretexting. They use false pretenses to obtain your personal information from financial institutions, telephone companies, and other sources.
Forms of identity theft include:
Credit Card fraud.
1. They open new credit card accounts in your name. When they use the cards and don’t pay the bills, the delinquent accounts appear on your credit report.
2. They may change the billing address on your credit card so you no longer receive bills and then run up charges.
Bank/finance fraud.
1. They may create counterfeit checks using your name and account number.
2. They may open a bank account in your name and write bad checks.
3. They may clone your ATM or debit card and make electronic withdrawals, draining your account.
4. They may take out a loan in your name.
Government documents fraud:
1. They may get a driver’s license or official ID card in your name with their picture.
2. They may use your name and SSN to get government benefits.
3. They may file a fraudulent tax return using your information.
Other fraud:
1. They may get a job using your SSN.
2. They may rent a house or get medical services using your name.
3. They may give your personal information to police during an arrest. If they don’t show up for their court date, a warrant for arrest would be issued in your name.
I hope that you are never the victim of identity theft, but if you do find yourself in a situation similar to that of the 9 million victims in this country, this information will be invaluable. Knowing who to contact and what to do when you discover that your identity has been stolen will allow you to get a handle on the situation sooner. Being more aware of how identities are stolen will allow you to take the proper steps to protect your identity and, possibly, prevent such a travesty from happening to you.
Sen. Johnny Ray Turner represents Breathitt, Floyd, Knott and Letcher counties.