Protecting Illinois Consumers Against Identity Theft

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Identity theft is one of the fastest growing crimes in the country. Pure and simple, identity theft can destroy a person’s finances. According to a Federal Trade Commission survey, about 8.3 million Americans discovered their identities had been stolen in 2005. In Illinois, over 11,000 people were victims.

On January 1, 2007, Illinois consumers were given another weapon in the fight against identity theft. All consumers are now able to place a security freeze on their credit report. A security freeze stops thieves from opening new credit and other accounts in your name by preventing access to your credit report, which potential creditors must review prior to issuing credit.

The security freeze allows you to freeze access to your credit report so that only you and those you give permission to can access your personal financial information. When a freeze is in place, you can still access your information using a code similar to your long distance calling card or ATM card. Outsiders will be barred from accessing your information without your permission. The credit bureaus are allowed to charge a fee up to $10 for each placement, temporary lift and removal of a freeze. However, seniors 65 and over are exempt from placement and removal fees, and victims of identity theft are exempt from all fees.

The security freeze is a great tool—but accessing information on the freeze was found to be difficult for consumers. That is why AARP pressed for legislation that would require each of the three credit reporting bureaus (Experian, Equifax, and TransUnion) to place information about the security freeze on the home pages of their websites. In the end, the force of legislation was not necessary. After meeting with reporting bureau representatives, AARP is pleased to announce that the security freeze information is now prominently displayed on the websites of each of the reporting bureaus. This enhanced accessibility will not only help Illinois consumers in protecting themselves against identity theft, but will assist consumers across the country.

One of the best ways to prevent potential identity theft is to keep an eye on your credit. It’s a good idea to order a copy of your credit report each year to look for foul play. To order a free report, visit www.annualcreditreport.com or call 1-877-322-8228. You can also visit www.aarp.org/money for more information on how to protect yourself against identity theft. 

Other Resources
TransUnion
www.transunion.com

Equifax
www.equifax.com

Experian
www.experian.com