What should I do if my personal information was compromised?
Be on the lookout for signs that your personal information
is being misused, including signs of identity theft. Identity theft
is the unauthorized use of personal identification information to
commit fraud or other crimes.
For more information, view Personal Information Tips page
What should I do if my Social Security number is
compromised?
First, review the
Personal Information Tips page
to learn about signs that your personal information is being misused.
Second, request your free credit report from the Annual Credit Report
Request Service.
Third, place an initial fraud alert on your credit reports at
the three national consumer reporting companies.
Fourth, when you receive your free credit report, review it
carefully to make sure all the information is correct.
How likely is it that I will be a victim of identity theft?
According to the 2006 Identity Fraud Survey Report, in 2005,
8.9 million American adults (4.0% of the US adult population)
became victims of identity fraud, an 11.9% decrease from the
10.1 million American adults who were victims in 2003.
For more information read "New Research Shows Identity Fraud Growth Is Contained and Consumers Have More Control Than They Think" from the Council of Better Business Bureaus and Javelin Strategy & Research.
Will requesting my credit report lower my credit score?
No. The only credit report inquires that can lower your
credit score are applications for new credit.
For more information about credit scores, read
"Your Credit Score: How It All Adds Up"
from the Privacy Rights Clearinghouse.
Should I subscribe to a credit monitoring service?
This is your decision. Reviewing your credit reports on a
regular basis for inquiries on existing accounts and applications
for new loans is a good idea. Remember that, under the Fair and
Accurate Credit Transactions Act (FACT Act), you can request a
free credit report once every 12 months from each of the three
nationwide consumer credit reporting companies. By rotating your
requests, you can receive a report every four months.
For more information about how to request your free report,
go to
annualcreditreport.com.
To request your credit reports by phone, call 1-877-322-8228.
For a monthly fee, you can also get a credit-monitoring service to notify you of activity. As with any product or service, make sure you understand what you're getting before you buy. Some credit-monitoring services take a week or longer to alert you so you might want to look for one with daily alerts via e-mail.
Should I buy identity theft insurance or identity fraud expense coverage?
This is your decision. Some companies offer insurance or similar
products that claim to give you protection against the costs
associated with resolving an identity theft case. When deciding
whether to purchase identity theft insurance, keep in mind that the
law provides significant protection to victims of identity theft. Also
check your homeowner's or renter's insurance policy to determine if
that policy already provides you with identity theft protection.
If you decide to purchase identity theft insurance, as with any product or service, make sure you understand what you're getting before you buy. Be aware that most creditors will only deal with you to resolve problems, so the insurance company in most cases will not be able to reduce that burden. Inquire about what services are available as a result of the coverage, the losses covered, the policy limitations, the deductibles and any exclusions. Be sure to check out the insurance company with your local Better Business Bureau, consumer protection agency and state Attorney General to see if they have any complaints on file.
Where can I learn more about how to protect myself from identity theft?
- The Better Business Bureau has co-released an Identity Safety Quiz so consumers can determine if their typical behavior places them at greater risk of becoming an identity fraud victim and what specific steps they can take to reduce that risk and increase their safety
- The May/June 2006 issue of AARP The Magazine describes ways to detect and guard against identity theft both online and offline. Read "Scams Unmasked".