:: Deepquest ::

Basically, identity theft occurs when someone steals your personal information and uses it to commit fraud or other crime.

More specifically, financial identity theft includes bank fraud, credit-card fraud and Internet fraud, for example, and criminal identity theft involves using the stolen identity to hide one’s own identity, enter a country, get special permits or commit other crimes.

Gathering personal information is fairly easy because it can be given over the phone, on the Internet or by using a credit card for purchases.

o pay for a meal at a restaurant with a credit-card, the receipt may include your name, credit-card number and signature.

Someone could copy that information, look up your address and phone number and start making purchases, especially over the phone or on the Internet. You might not even know what’s happened until the next credit-card bill ? or later, if you don’t check monthly statements or if the thief has submitted a change of address.

If your wallet or purse is lost or stolen, there’s a wealth of personal information that someone can use. Your mailbox also provides critical information when it contains bills and bank statements.

If someone has your Social Security number and date of birth, he or she can get access to your bank account and take out a loan or simply withdraw cash. The information often can be found on deposit slips, bills, pay stubs and receipts you’ve thrown away in a public wastebasket, or even your own trash barrel.

Not long ago, I was horrified to hear my 23-year-old give his name, address, date of birth and Social Security number over the phone to a stranger offering a credit card. He was lucky nothing bad happened, I think, but he heard much from me about it.

You’ll know if someone has stolen your identity if you see significant charges that aren’t yours appearing on your credit-card bill. It’s also evident if you receive an unexpected phone call regarding money you owe or if you see problems on a credit report.

These suggestions on how to prevent identity theft come from the resources listed below.

? Don’t give your Social Security number unless absolutely necessary.

? Don’t carry your Social Security card, passport or birth certificate in your wallet. Carry as few credit cards as possible, and photocopy them to make canceling easier if your wallet is lost or stolen.

? Rip up paper containing personal information before throwing it away.

? Mail checks and other critical correspondence in a secure postal-service box, not your personal mailbox.

? Never give out personal information over the phone to a stranger who calls you.

? When shopping online, buy from reputable sites and pay with one credit card (that has zero liability, such as Visa), a smart card or other card with a limited amount of credit, or a secure payment service, such as PayPal.

? Review your credit-card statement every month.

? Get a credit report every year from one of the three major credit bureaus: Equifax (www.equifax.com), Experian (www.experian.com) and TransUnion (www.transunion.com).

If it happens to you, here’s what to do. The suggestions, again, are from the resources listed below.

? File a police report and get a copy to give banks and credit-card companies that require proof.

? Cancel your credit-card accounts and get new ones that are password protected. Close any accounts that have been opened in your name.

? Contact the fraud department of any of the three major credit-reporting bureaus and have them place a fraud alert on your credit file.

? If your Social Security number has been used, notify the Social Security Administration’s Office of the Inspector General:computer.howstuffworks.com/framed.htm?parent=identity-theft.htm&url=www.ssa.gov/oig/hotline/index.htm

from [url=http://seattletimes.nwsource.com/html/businesstechnology/2001842776_ptgett24.html]Seattle Times[/url]