The New Epidemic!

Recently, 40 million customer’s names, bank account numbers, and security credit card codes were exposed to possible identity theft and fraud by an error at Atlanta based Card-Systems Solutions Inc., which processes credit card payments. In addition, companies such as MasterCard, Visa, Citibank, Ameritrade, Bank of America Corp., and Wachovia have dealt with data theft of customer’s information. This leaves us asking, “Is our identity and personal information safe?”  There is no fool-proof way to fully protect ourselves from identity theft and fraud, but we can take the following steps to reduce the odds.

• Don’t carry your social security card, pin numbers for ATM and credit cards, or other private information in your wallet or purse.  When someone asks for your social security number; offer your driver’s license number instead.

• Shred unneeded personal and financial documents that contain account numbers or identifying information using a crosscut shredder.  Remove   your name from pre-approved credit card mailing lists.  You can do this by going to https://www.OptOutPrescreen.com/ or calling 1-888-5-OPTOUT. 

• Contact your banks, credit unions, credit card companies, and insurance providers and request they do not share or sell your data to their affiliates or outside firms.  They should have a privacy policy explaining how to opt out.

• One free credit report is available each year from each of the credit reporting agencies: Equifax, Experian, and TransUnion. Your credit report can be requested at www.annualcreditreport.com or by calling 877-322-8228.  Carefully review your credit report to make sure everything is accurate. If there are discrepancies, contact the company and ask for the problem to be resolved.  The faster potential problems are identified and solved, the less likely you are to be at risk for identity theft or fraud.   For more on credit reports >>>

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Identity Theft in Idaho

Lyle Hansen Jerome Co. Extension Educator/Personal Finance

In the course of a busy day, you may write a check at the grocery store, charge tickets to a concert or ball game, rent a car, mail your tax returns, call home on your cell phone, order new checks, or apply for a credit card.  Chances are you don’t give these every day transactions a second thought.  But someone else may.

Identity theft happens when someone steals your name, social security number, driver’s license number, credit card number, e-mail address or some other personal information and uses it to commit fraud or theft.  An identity thief will try many methods to get your identity including:

·        Stealing your mail, purse or wallet

·        Shoulder surf (Using a camera cell phone)

·        Dumpster diving (digging through your trash cans)

·        Fraudulently obtain your credit report

·        Phishing and Pre-texting 

Once the thief has your identity, they will usually go on spending sprees using your credit & debit cards to buy big ticket items, open new credit card accounts, change mailing addresses on your credit card accounts, and/or take out loans to purchase a car or even a new home IN YOUR NAME!

It is a growing crime!  According to the Council of Better Business Bureaus and Javelin Strategy & Research in 2005, there was an estimated 8.9 million adult identity theft victims in America!  The identity theft victims were taken for $56.6 billion which averages out to $6,383 per fraud victim.  Identity theft victims spent $422 out of pocket and 40 hours cleaning up the mess.

In Idaho in 2005, there were 2,644 fraud and identity theft complaints from consumers according to the Federal Trade Commission (FTC).  Identity theft complaints accounted for 745 of the 2,644 and that number has doubled from the 361 reported in 2002.  The top categories for fraud complaints were internet auctions, prizes/sweepstakes/lotteries, and foreign money offers.  The top categories for identity theft were credit card fraud, phone or utilities fraud, and bank fraud.  Boise had the most fraud and identity theft complaints with 497.  The cities in the Magic Valley didn’t show up on the FTC report but according to local law enforcement, Twin Falls has had over 50 fraud and identity theft complaints so far this year. 

Idaho currently ranks 20^th in fraud complaints and 38^th in identity theft in the nation.  Here is how Idaho compares to other states in the west and northwest:

Identity theft is real and it happens.  As with any crime, you cannot completely control whether you will become a victim.  But you can minimize your risk by managing your personal information cautiously and with heightened awareness.  Lyle Hansen the University of Idaho, Jerome County Extension Educator can help you guard against identity theft.  He has taught over 10 Guarding Against Identity Theft workshops in Jerome and the surrounding area in the last year.  He will be offering more Guarding Against Identity Theft workshops later this year.  The workshop covers: 

• What identity theft is and how it occurs.
• How to guard yourself against identity theft.
• How to determine if you have become a victim of identity theft.
• What to do if you are a victim of identity theft.

This workshop is available to clubs and groups in the area free of charge.  For further information or questions you may contact Lyle Hansen, University of Idaho Extension Educator in Jerome County at (208) 324-7578 or lhansen@uidaho.edu to be added to the contact list to be notified of upcoming Guarding Against Identity Theft workshops or to schedule a workshop for your club or group.