Statistics will show that as the world becomes more technology savvy, the easier it becomes for identity theft to occur. In California alone, technology allows for thieves to make an exact replica of your stolen credit card in minutes. The number one cause for the increase in identity theft numbers is credit card counterfeiting, it is best that credit card holders beware and learn the basics of credit fraud protection.

Surfers Beware!

In 2005, The Federal Trade Commission received over 685,000 complaints of identity theft and fraud that translated to a whopping $680 million in losses. Among the complaints 37% accounted for identity theft while the remaining 63% for fraud and in cases of fraud, the internet was utilized 46% of the time, translating to $335 million stolen.  With this statistics in mind, it is wise to invest in credit fraud protection.

The internet despite its many uses is also a haven for identity theft; it is often used as the first line of contact of thieves to potential victims. The following are areas where you can be vulnerable when it comes to online activities.

- Auction websites = 12%
- Offers of foreign money = 8%
- Shop from home or catalog offers = 8%
- Lotteries, sweepstakes, or prizes = 7%
- Computer or Internet service complaints = 5%
- Work from home offers or business opportunities = 2%
- Credit protection or advance fee loan offers = 2%
- Phone Service = 2%

If you do use the internet and shop online, it is wise to consider credit fraud protection for you online activities, this may simply mean ensuring that the website you visit and/or enter your credit information on is secured and protected.  You can also place fraud alert on your credit report, to ensure that your information is not being used without your knowledge.

Victims of identity theft reach about 10 million annually. Aside from the financial damage, around 300 million hours are used to solve problems caused by identity theft.  Statistics show that if you fall prey to identity thieves, you are more likely to spend around $500-$800 to clear your name and restore your credit score and an average of 600 hours to correct mistakes done to your credit rating and around a year or so before the problem is completely fixed.

As we are constantly exposed to identity thieves and thus always at risk and given this statistics, it is wise to have a credit fraud protection system to reduce the risk of getting your identity stolen and lose money, time and effort in to fixing a problem that could have been avoided.

Found some discrepancies in your credit card statement or your credit report and suspect you’ve been victimized by identity thieves, who should you call? You should know your identity theft hotline. You can also call your bank, your credit card company and the store where you have a credit line, this should be done in order to minimize your liability. It is easier to get out of the problem when you called and reported the possibility of identity theft.

Depending on your situation, you can report identity theft to the following agencies:

The Federal Trade Commission

If you are having a difficult time connecting to the institution involved in your case, you can call the FTC instead.

The Commission is mandated by the Identity Theft & Assumption Deterrence Act of 1998 to accept and process complaints filed by identity theft victims, they are also responsible in directing your complaints to the appropriate industry including the major credit and police agencies. Take note of the FTC identity theft hotline 1-877-IDTHEFT (or 1-877-438-4338). You can also go their website and fill up the complaint form.

The Social Security Administration

The SSA does not usually provide assistance to identity theft victims, but they do have a system in place that can help you solve your dilemma. You can call them at their hotline 800-269-0271, although this is not an identity theft hotline, but you can contact SSA at that number or you can use their website to file a complaint.

In case you are a victim of SSN theft you can change your number, if you fall under the criteria of SSA’s victims of fraud, you can learn more about this at their website. But even if you are given a new SSN and the theft is reported to the proper authorities, it is not a guarantee that your all your problems will be solved, as it does not guarantee a fresh credit rating, credit records from your two SSNs can be combined by different Bureaus, plus even if you are given a fresh start, having no record can also mean a hard time trying to gain credit.

The Three Major Credit Bureaus

These three major credit bureaus Equifax, Experian, and TransUnion, are responsible for your credit rating as such you can get periodic credit reports from them and in cases of identity theft you can call their identity theft hotlines.

Remember to report any inconsistencies or discrepancies in your credit records at once to the proper agencies, always keep their identity theft hotline accessible to you. Reporting your concerns at the earliest possible time will help minimize the damage and make life easier for you in the long run.

The US government and consumers industries have some of the best identity theft resource center you can find, they offer a lot of resource materials you can download as virtual handbooks usually in PDF format. These are the top 5 websites you can visit for more information on identity theft:

1. The Federal Trade Commission

2. The Social Security Agency

3. The Department of the Treasury

4. Privacy Rights Clearinghouse

5. Identity Theft Resource Center

What Identity Theft Resource Center lets you know

Identity theft attacks the confidence many Americans share in the nation’s open yet strong financial systems, this is according to the US Treasury.  This is why consumers together with the industry and the government have prepared a number identity theft resources along a wide variety of topics including:
Ways to prevent identity theft
Common techniques of identity thieves
Signs that you have been targeted or victimized
Numbers to call in case you’ve been victimized
What your rights are
Federal and State laws regarding identity theft

Taking Control – arm yourself with knowledge

The first thing you will learn when you read materials from these identity theft resource centers, is that you have more control than you think.  Identity theft does not exist in a vacuum, and no matter how the thieves target their victims on or off line, you don’t have to be a victim, you just have to be careful enough.

If you can recall, there was an infamous wave of identity theft a few years back, where victims, who went out of their way to keep their personal data secure still fell prey to identity thieves secondary to the government leaving their personal data on public records that was made available online. This was when public records were just starting to be uploaded and that redaction or blacking out of personal data on the online records was relatively new. But nowadays, unless you’ve been convicted of a violent crime, your personal data shouldn’t be on the government online records.

So in following the tips disclosed on the materials available in the identity theft resource center, you can lessen the possibility of being a victim of identity theft if not completely gone then close to it.

If you do many of your transactions online, it is a good idea to visit software vendor website that can provide you with valuable identity theft resources, to better arm yourself against these thieves in the night.

Lastly, the best way you can arm yourself against identity thieves is to arm yourself with knowledge, keep yourself informed. And one of the best ways you can do this is visit the identity theft resource center often.