A criminal, properly equipped with your full name, social security number, and some inexpensive electronic gear, can become you in approximately ninety-seconds-just barely longer than it takes to steal your car. In as little as twenty minutes, a skilled impersonator may produce up to ten credit cards and several checking accounts which bear your name and attach to your three major credit reports. You may have no idea that your credit data has been cloned until you go, innocently, to apply for a home or car loan; then, discovery of your identity’s theft will hit you like a sledge hammer to your guts.

America’s Fastest-Growing Non-Violent Crime

Especially since the United States slipped into economic depression, identity theft has skyrocketed. In 2002, more than forty thousand people experienced identity theft; in 2007, the number soared to nearly million, most of whom are respectable, perfectly ordinary citizens. The more solidly hard-working, honestly middle class you are, the more you stand at-rosk of having your identity stolen. You are the kind of person who enjoys all the rights and privileges of good credit, and you are least likely to be on-guard against fraud or theft.

The bad economy actually has reduced most thefts and burglaries, but it dramatically has increased identity theft, because stealing a credit-worthy person’s identity gives the bad guys access to cash and leverage on big purchases. These are not small-time crooks; they are extremely sophisticated.”

An Ounce of Prevention

The process for reconciling with your creditors in case of identity theft has become much easier, but it still may take up to a year completely to cleanse your credit report and restore your good name. Bauer stresses, “You really gain a huge advantage if you protect yourself from it instead of trying to fix it after it’s done.”

Ten steps to protect yourself:

1. Do not carry important identity documents in your purse or wallet; especially, do not carry your Social Security card, because your Social Security number is the golden key that unlocks all the financial doors. For most routine transactions, your driver’s license ought to identify you to reputable business people.

2. Never write your Social Security number on your checks or credit card receipts. Merchants and service providers do not need it.

3. When you create passwords and personal identification numbers for new accounts, do not use any part of your address, Social Security number, or birthday among the digits. Identity thieves always will try those numbers first as they try to gain access to your information.

4. Keep a list of your credit cards, their expiration dates, and other financial data, so that you quickly can contact your creditors when you suspect you have become the victim of identity theft or fraud.

5. Never give out personal data of any kind to a telemarketer or door-to-door solicitor no matter how legitinmate and reliable the person or business appears.

6. Make online purchases with your credit card only when you have complete assurance of the site’s security: It ought to be encrypted a show one of several logos or trademarks from site verification services.

7. For security and for the sake of improving your credit score, cancel credit cards you never use. Especially consider cancelling department store or retailers’ credit cards, because they are more readily cloned, and they charge higher interest rates.

8. Carefully monitor all your credit card activity online.

9. Request a copy of your credit report at least once a year. Better, subscribe to an online credit reporting service, which will alert you to all suspicious activities on all of your accounts.

10. Do not do business with any company that operates exclusively from a website or post office box; make sure your retailers and service providers have brick-and-mortar locations.

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