Be Aware of ID Theft During National Consumer Protection Week

Published on September 12, 2006 at 2:19 pm

Unknown Author

WASHINGTON, DC – Consumers nationwide are becoming more aware of how to protect themselves against fraud and identity theft. During National Consumer Protection Week (February 6-12), Your Credit Card Companies encourages all consumers to safeguard their good name.

A recent study by the Better Business Bureau and Javelin Research found that there has been a decline in the number of incidents of online identity fraud, with most of the crimes occurring “offline” and by someone who is close to the victim. Computer-related crimes accounted for only 11.6 percent of cases of known-cause identity theft in 2004. The study also noted that early detection of these crimes can ease the financial loss and aggravation that comes with dealing with identity theft.

Your Credit Card Companies urges consumers to safeguard their credit and identity by:

  • Signing credit and charge cards as soon as they arrive.

  • Keeping a record of credit card issuers’ customer service department telephone numbers. If cards have been lost or stolen, immediately call customer service. Many companies have toll-free numbers and 24-hour service to deal with such emergencies.

  • Saving, then destroying, receipts: Compare receipts with billing statements to confirm amounts charged and evaluate whether the purchases listed are yours. Destroy receipts and statements before throwing them away.

  • Reviewing credit reports annually for accuracy. As part of the Fair and Accurate Credit Transactions Act of 2003, Americans are beginning to have free annual access to their credit reports under a phased rollout plan that launched in December 2004. Currently, only residents of the Western part of the United States can access their reports for free as part of this tiered action. By September 2005, all residents of the country will be able to access free reports. Consumers can request their free annual credit reports via the Web at http://www.annualcreditreport.com, by calling 1-877-322-8228 or mailing requests to Annual Credit Report Request Service, P.O. Box, 105281, Atlanta, GA 30348-5281.

  • Having mail held at the post office when traveling for an extended period of time.

  • Being wary of telephone or on-line solicitations that seek personal information. Don’t give out your credit card information over the phone or online unless you initiate the transaction and you’re comfortable that the company you’re dealing with is reputable. If you have any questions about a company, check it out with a local consumer protection office or the Better Business Bureau.

If consumers think they have been a victim of either identity theft or credit card fraud, following these simple tips will help prevent future incidents and provide peace of mind knowing the situation is being taken care of:

  • Immediately contact your financial institution. Alert them that you have been a victim of either identity theft or credit card fraud. Have them cancel current credit cards and send you new ones. This will also protect consumers from being liable for purchases. Cardholders of the members of Your Credit Card Companies are not liable for any charges incurred as a result of fraudulent activities.

  • Contact the three major credit bureaus — Experian, Trans Union, and Equifax — and request that a fraud alert be placed on credit reports. The credit bureaus phone numbers are:
    • Equifax – 1-800-525-6285
    • Experian – 1-888-397-3742
    • Trans Union – 1-800-680-7289

  • File a complaint. In cases of possible identity theft, also file a complaint with the Federal Trade Commission at 1-877-382-4357.

  • Contact local law enforcement. In either case of suspected fraud or identity theft, also contact local law enforcement to alert them to the possible crimes.

Get more information. More information and other valuable tips can also be found at www.YourCreditCardCompanies.com.

Your Credit Card Companies is a group of financial services companies with a shared commitment to value and quality service for consumers. Through its Web site and other consumer information initiatives, Your Credit Card Companies provides credit resources and a variety of tools that help consumers to better understand how credit works, to understand and protect their total credit picture and to manage debt. Its membership includes Chase Manhattan Bank USA, N.A.; Citigroup; Discover Card; MasterCard International; and MBNA.