How to prevent it
By John Hough
According to Colorado Revised Statutes Section 18-5-902, “(A) person commits identity theft if he or she knowingly uses the personal identifying information, financial identifying information, or financial device of another without permission or lawful authority with the intent to obtain cash, credit, property, services, or any other thing of value or to make a financial payment.” A “financial device” is defined by the statutes as any instrument or device that can be used to obtain cash, credit, property, services or any other thing of value or to make a financial payment. “Financial devices” include credit cards, banking cards, debit cards, electronic fund transfer cards, guaranteed check cards, checks, negotiable orders of withdrawal, shared drafts or money orders.
In more easily understandable language, identity theft involves acquiring key pieces of another person’s identifying information (such as name, address, date of birth, Social Security number, and mother’s maiden name) in order to impersonate them. This information enables the identity thief to commit numerous forms of fraud including taking over the victim’s financial accounts; opening new bank accounts; purchasing automobiles, computers and other merchandise; applying for loans, credit cards, and Social Security benefits; renting apartments; and establishing services with utility and phone companies.
How can you prevent identity theft?
- Promptly remove mail from your mailbox after delivery. A locking mailbox is best.
- Deposit outgoing mail in a post office collection mailbox or at your local post office. Do not leave in unlocked mail receptacles.
- Unless you initiate the phone call, NEVER give personal information over the telephone such as your Social Security number, date of birth, mother’s maiden name, credit card number or bank PIN code. Protect this information and release it only when absolutely necessary.
- NEVER discard pre-approved credit applications, credit card receipts, bills or other financial information in the trash or recycling bin. SHRED what you don’t need to save.
- Empty your wallet of extra credit cards and ID’s. Cancel the ones you do not use and maintain a list of the ones you do.
- Order your credit report from the three major credit bureaus once a year to check for fraudulent activity or other discrepancies.
- Never leave receipts at bank machines, bank counters, trash receptacles, or unattended gasoline pumps. Keep track of all your paperwork. When not needed, SHRED!
- Memorize your Social Security number and all of your passwords. Do not record them on any cards in your wallet or purse.
- Sign all new credit cards upon receipt.
- Save all credit card receipts and match them against your monthly bills.
- Be conscious of the time of month you receive your financial statements. Contact the sender if they are late or not received in the mail.
- Notify your credit card companies and financial institutions in advance of any change of address or telephone number.
- Never loan your credit cards to anyone.
- Never put your credit card or any other financial account number on a postcard or on the outside of an envelope.
- If you applied for a new credit card and it hasn’t arrived in a timely manner, call the bank or credit card company involved.
- Report all lost or stolen credit cards immediately.
- Closely monitor expiration dates on your credit cards. Contact the credit card issuer if replacement cards are not received prior to the expiration dates.
- Beware of mail or telephone solicitations disguised as promotions offering instant prizes or awards designed solely to obtain your personal information or credit card numbers.
Internet and Online Services
- When you subscribe to an on-line service, you may be asked to give credit card information. Use caution when disclosing checking account numbers, credit card numbers, or other personal financial data at any web site or on-line service location unless you receive a secured authentication key from your provider.
- When you enter any interactive service site, beware of con artists who may ask you to “confirm” your enrollment service by disclosing passwords or the credit card account number used to subscribe. Don’t give them out!
Other helpful sources for information on identity theft prevention:
The above information was obtained in part from the website of the Manhattan Beach, California Police Department.