Your personal information could have been stolen a long time before you realize that you are a victim. Understanding how Identity Theft can occur will equip you with the knowledge to access tools that will aid in your prevention and/or recovery should you need it.

How is it stolen?

• Data breaches
• Malware activity
• Web and internet activity
• Mail theft and dumpster diving
• WIFI hijacking, ATM readers, mobile phone theft

How can your personal information be used?

• Identity thieves can steal your PIN, access your computer and use your social security number.
• Fraudulent credit card accounts can be opened in your name and goods purchased, with no tracing.
• Use your credit to make purchases and borrow money.
• Your Social security number and personal information, such as birthdate and credit information can be sold internationally to commit credit and medical fraud and much more.
• Banking account information can be stolen and used to file fraudulent tax reports, thus stealing your money from the accounts.

How Identity Theft Affects You?

• Financial loss, damage to your credit and emotional distress.
• Increased credit usage which lowers your credit scores and disrupts your privacy and life, requiring time and energy.
• Possibility of going unnoticed, resulting in late payments and impacting your credit score and damage, possibly IRS penalties depending on the crime.
• Loss of account access, credit fraud, account takeover and loss of data privacy.

How can it be prevented or stopped if already a victim?

Access your free annual credit report from the three credit agencies:

Free Credit Reports

American Bankers Association recommends the following tips to keep your information safe:

• Don’t share your secrets
• Shred sensitive papers
• Keep an eye out for missing mail
• Use online banking to protect yourself
• Monitor your credit report
• Protect your computer
• Protect your mobile device
• Report any suspected fraud to your bank immediately.

As you work with your credit card companies to have problems removed, they will ask for a police report or an Affidavit of Theft. Reporting your theft in this manner will provide you the documentation of how to obtain the Affidavit of Theft and the actual Affidavit to use.

Learn more from the following resources which will provide information concerning how Identity Theft happens, how it can be avoided and steps to restore your credit should you be a victim.

Annual Credit Report

Consumer Financial Protection Bureau

Federal Trade Commission

Other Rights to Free Reports
Also, under federal law, you’re entitled to a free report if a company takes adverse action against you, such as denying your application for credit, insurance, or employment, and you ask for your report within 60 days of receiving notice of the action. The notice will give you the name, address, and phone number of the credit reporting company. You’re also entitled to one free report a year if you’re unemployed and plan to look for a job within 60 days; if you’re on welfare; or if your report is inaccurate because of fraud, including identity theft. Otherwise, a credit reporting company may charge you a reasonable amount for another copy of your report within a 12-month period.

To buy a copy of your report, contact:

• Equifax: 1-800-685-1111
• Experian: 1-888-397-3742
• TransUnion: 1-800-916-8800

You can also find answers to some of your questions about free credit reports, disputing errors on Credit Reports and general information about ID Theft and protection from the Federal Trade Commission.
Another resource for information about your credit score and other financial information, is by accessing the Consumer Financial Protection Bureau (CFPB), a U. S. governmental agency formed to protect the consumer.