What Is Identity Theft?

Identity theft is when personal information is stolen, such as a Social Security number (SSN) and date of birth, to commit fraud and other illegal activities.

A thief can use this information to obtain credit cards, mortgage loans, cell phones, as well as withdrawing money from personal bank accounts.? Some criminals will even use this information to commit crimes and acquire jobs in the victim’s name.

Stolen Identity can be a difficult and costly burden for the victim.? Therefore, it is imperative that you make sure that you are aware of the types of activities that a criminal can do to obtain your personal information and what you can do to prevent it.

How Does Identity Theft Occur?

Identity thieves use many ways to steal someone’s personal information. They can search through your trash or hack into your personal computer. The following are just a few examples of items identity thieves look for:

  • Stealing mail or going through garbage containing personal information called Dumpster Diving.
  • Stealing payment or identification cards, either by pickpocketing or by getting information through a compromised card reader called Skimming.
  • Impersonating a known company or financial instititution in an e-mail to obtain personal information called Phising.
  • Retrieving information from personal equipment, like disposed computers where personal information was not properly deleted.?
  • Researching information about the victim on the internet.
  • Eavesdropping on public transactions to obtain personal data
  • Stealing personal information in computer databases.
  • Advertising fake job offers (either full-time or work from home) where the victims will reply with their full name, address, telephone numbers, and banking details.
  • Browsing ?internet websites for personal details that have been posted by you (Ex. MySpace, Facebook)
  • Changing your address to divert billing statements to another location to either get current legitimate account info or to delay discovery of fraudulent accounts.

How to Prevent Identity Theft

The following steps can decrease the threat of identity theft:

  • Shred financial documents and paperwork with personal information before you discard them.
  • Protect your Social Security number. Don’t carry your Social Security card in your wallet or write your Social Security number on a check. Give it out only if absolutely necessary or ask to use another identifier.
  • Don’t give out personal information on the phone, through the mail, or over the Internet unless you know the person who you are dealing with.
  • Never click on links sent in unsolicited emails; instead, type in a web address you know. Use firewalls, anti-spyware, and anti-virus software to protect your home computer; keep them up-to-date.
  • Keep your personal information in a secure place at home, especially if you have roommates, employ outside help, or are having work done in your house.
  • Order a copy of your credit report at least annually to ensure all information is accurate and includes only authorized transactions.
  • Adequately guard all passwords and PIN numbers for credit and debit cards. Avoid using easily available information such as date of birth, mother’s maiden name, SSN or a phone number.
  • Secure all personal information in your home. Remove your new mail from the mailbox promptly and send outgoing mail from the post office or other secure mailboxes.
  • Shred your charge receipts, copies of credit applications, medical information, checks and bank statements. If available, receive your account statements online instead of on paper.
  • In order to closely monitor fraudulent activity, you should review all monthly account statements or frequently review transactions online or by telephone

In order to closely monitor fraudulent activity, you should review all monthly account statements or frequently review transactions online or by telephone.

When You Are a Victim of Identity Theft

If you believe that your personal information has been used to commit any fraudulent activity, the following are steps to take in order to protect against further damage:

  • Contact the three major credit bureaus (Equifax, Experian, Transunion) to inform them that you are an identity theft victim. Request that a "fraud alert" be placed on your file and receive a copy of your credit bureau report.
  • Close any accounts where you believe identity theft has occurred.
  • File a police report with your local police department where the identity theft took place. Ask for a copy of the police report; often credit card companies and others will need proof of the crime to erase the debts caused by identity theft.

The key to proving you are a victim of identity theft is to get the right documents to the right people. The following are tips to help you resolve credit problems resulting from identity theft.

  • Credit reports: Call the Credit Bureau and inform them of the information on your credit report that you believe is inaccurate. Follow up in writing and include copies (not originals) of your documentation such as a copy of the police report or your credit card statement with circles around the items in question.
  • Credit cards: Write your credit card company or other provider to inform them of fraudulent charges. Send your letter so that it arrives at the creditor within 60 days from when the first bill containing the charge was sent to you.
  • ATM cards, debit cards and electronic fund transfers: If your ATM or debit card is stolen or lost or you find a fraudulent transaction on your statement, visit the nearest Woori America Bank or call customer service at 1-888-699-6674(MY-WOORI).

Identity Theft Resources and Information

Federal Trade Commission
http://www.ftc.gov/idtheft/
877-IDTHEFT (877-438-4338)


Credit Bureaus

Equifax
http://www.equifax.com/
To report fraud, call: 800-525-6285
To write: P.O. Box 740241, Atlanta, GA 30374-0241

Experian
http://www.experian.com/
To report fraud, call: 888.EXPERIAN (888-397-3742)
To write: P.O. Box 9532, Allen, TX 75013

TransUnion
http://www.transunion.com/
To report fraud, call: 800-680-7289
e-mail: fvad@transunion.com
To write: Fraud Victim Assistance Department,
P.O. Box 6790, Fullerton, CA 92834-6790


Social Security Number Theft and Misuse

http://www.ssa.gov/
To report fraud, call: 800-269-0271

Mail Theft
http://postalinspectors.uspis.gov/

Phone Fraud
http://www.fcc.gov/