Identity theft is one of the fastest growing types of financial fraud. With as little information as your social security number, a thief can take over your credit. It is called “account-takeover fraud” or “true name fraud.” The following are steps you can take to avoid this:

• Order copies of your credit bureau once a year to make sure that they are accurate. You can receive free credit reports each year by contacting the Annual Credit Report Service at their website, annualcreditreport.com or call 1-877-322-8228.
• Check your monthly checking and credit card statements thoroughly to make sure that all of the activity showing on the statements was really yours.
• Destroy any pre-approved credit card offers you don’t intend to use. Also destroy any ATM or credit card receipts that could match your name to your account number. Don’t just toss them in public trash cans as thieves like to “dumpster dive.”
• If your bills or statements are more than two weeks late, contact your post office to make sure someone isn’t having your mail forwarded to another address. Then contact the businesses and bank you use to find out the cause.
• When you pay your bills, don’t put them in your mailbox, if it is out in the open in a public place. This is one of the first things that a thief would look for as those bills not only have your credit information and account numbers, but also have your checking information.
• Don’t carry your social security card or your birth certificate in your wallet unless you have some particular need for it that day. Limit the number of credit cards you carry. Keep a list of all of your credit cards and account numbers at home. That way if your wallet is stolen, your losses are kept to a minimum, and the phone listings make notification easier.
• Never provide personal or credit card information over the phone, unless you initiated the call. If someone calls you and tells you you’ve won a prize and all you have to do to win is give them your credit card number, don’t. If it sounds too good to be true, it probably is.
• Protect your account information. Don’t write your ATM PIN number on your credit/debit card. Don’t write your social security number or your account number on your checks when you make payments.
• If you find that you have become a victim of identity theft, take action. Finanancial fraud is a crime, call your local police.

There are three fraud units that the credit bureaus maintain. Ask them to “flag” your account. This tells creditors that you could be a victim of credit card fraud. You can also ask that a victim’s statement be added to each of your credit bureau reports that require creditors to contact you in person to verify any applications for credit that they might receive in your name. The numbers are as follows:

• TransUnion Fraud Assistance Department: 800-680-7289
• Equifax Fraud Assistance Department: 800-525-6285
• Experian Fraud Assistance Department: 888-397-3742