In this article I would like to focus on identity theft and the fraud that may result because of it. First, let us examine exactly what identity theft is.
The Federal Bureau of Justice Statistics (BJS) breaks identity theft into three general types:
- Unauthorized use or attempted use of an existing account
- Unauthorized use or attempted use of personal information to open a new account
- Misuse of personal information for a fraudulent purpose
Erika Harrell, Ph.D., BJS statistician, reported that 17.6 million U.S. residents experienced identity theft in 2014. That number is a chilling reminder to guard your data! Easier said than done, right? But there are some simple steps we can follow.
One risk to account and personal information is quietly sitting in every kitchen. The simple trash can contains a wealth of information for thieves, at no cost to them. If you intend to discard any documents containing personal information, I recommend first using a shredder to destroy them. Your bank statements, utility company statements, health provider notifications, insurance notices, retirement account statements, etc. – all contain your valuable information.
Unfortunately, according to the Federal Trade Commission, your information may also be obtained through no fault of your own. The trash at businesses or public dumps may contain documents with personal information that were not destroyed before being disposed of. Or, the thief may work for a legitimate company – like a medical office, clinic, pharmacy, or government agency – where they have access to your data. The FTC also warns about incidents of the types I have responded to in our own community, such as email (phishing) or phone (pretexting) scams to trick the victim into revealing personal information.
The FTC recommends three immediate steps to take if your identity is stolen:
- Place an Initial fraud alert on your credit report
- Order your credit reports
- Create an identity theft report
The FTC website at www.ftc.gov/idtheft is an outstanding resource with detailed information on how to take action if you experience identity theft. You can even file an identity theft complaint with the FTC through this website. It also has information for law enforcement, attorneys and advocates, and businesses – including suggestions and videos specifically targeted toward the business community. It provides data security information along with current related posts such as CEO imposter scams: Is the boss for real? This is especially relevant in our business community, as I have seen this scam attempted by thieves on local businesses. To contact the FTC via telephone, call 1.877.382.4357.
Michigan Attorney General Bill Schuette’s office is home to the state’s Consumer Protection Division, which handles consumer complaints and scams along with a myriad of other responsibilities. For consumer complaints, call 517.373.1140, or you can find the Consumer Complaint/Inquiry Form online at www.michigan.gov/ag/.
The attorney general’s website also provides recent consumer alerts such as:
- IRS phone and email tax scams
- Advanced-fee loan scams
- Annuities – Are they the right investment for me?
- Charitable donation refund scam
- Auto title loans
These two resources can provide individuals with valuable defense against would-be thieves.
Your personal information is a commodity in this digital age – be safe and keep it secure. Please do not hesitate to call me or any of the Delhi deputies at 517.694.0045 with questions you may have regarding identity theft or other concerns. For any suspicious persons or activity please report by dialing 911.