Helping to Prevent Consumer Fraud and Identity Theft
By: Source: AARP.org Date Posted: 2007-12-14 07:34:16.319819-05:00
The holiday season is a time for family, friends, and good cheer. Unfortunately, the season also brings with it an increased risk of consumer fraud and identity theft. AARP is committed to fighting against consumer crimes and providing consumers with the tools they need to protect themselves.
In the last five years, 27 million Americans have had their identities stolen. The Federal Trade Commission reports that identity theft costs businesses $50 billion annually - not to mention the aggravation and confusion caused to the consumer.
Identity thieves get your personal information in a variety of inventive ways, but there are steps you can take to protect yourself and your information:
- Check your credit report at least once per year and correct any errors
- Don't give out your Social Security number unless its absolutely required
- Don't have your Social Security number printed on your checks
- Shred papers that include personal information before throwing them away
- Don't throw your ATM receipts in the wastebasket
- Don't give out your credit card or bank account information over the phone unless you confirm you are dealing with a representative from a legitimate business
In addition to the steps noted above, you can also place a security freeze on your credit report if you are concerned about becoming a victim of identity theft or consumer fraud. With the security freeze, your credit report cannot be released to any entity (e.g. a credit card company looking to verify credit information on a new application). You must contact each credit reporting bureau (Experian, Equifax, and TransUnion) separately to place the freeze. For those 65 years of age and older, the security freeze is free. For those under 65, there is a $10 fee for placing the freeze. AARP is working with each of the credit reporting bureaus to make it easier for individuals to place a security freeze online.
The number of individuals being victimized by consumer crimes grows every day and it's important to be protected find more information online www.aarp.org/consumerprotect-frauds or call 1-888-OUR-AARP (1-888-867-2277) to request a free copy of the booklet "Consumer Protection: A Guide to your Rights and Choices."
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