Identity Theft: Reduce Your Exposure

By Mark A Priganc
I am always amused to hear advertisements saying they prevent identity theft. I am amused because that is a myth!

I'm here to educate you as to why identity theft cannot be prevented. The straight forward no punch pulling truth is that your personally identifying information is already out there in the public domain. It isn't a matter of how careful you are with your information. It is a matter of how careless the people that hold your information are.

Look at it like this... How many times have you heard or read news stories about laptops being stolen? I would guess to say about every other day. Those stolen laptops contain personally identifying information (probably yours). Sometimes the thief of the laptop is simply someone wanting to score a new computer, other times it is a well thought out plan, aimed at getting to the information stored on the hard drive or the digital media that is kept with the computer.

In the summer of 2007 the state of Ohio experienced an information security breech when a digital media device was stolen out of a college intern's car. Don't blame the intern! He was interning for the state, and their policy of protecting sensitive data was to send this digital media device home with a different person every night and one person over the weekend. Sadly, this device contained the Personally Identifying Information on more than... 10 million Ohioans. This is one example, of thousands, where holders of your information are careless in safeguarding your Identity.

Let's look at two (2) simple yet highly effective measures you can take to reduce your exposure, and the damage an Identity Thief can do.

1. Check your credit reports. There are three major reporting agencies, and you are entitled to one FREE report from each agency every 12 months. So, start with Experian four months later you will get your Equifax report, and four months after that you pull your Transunion report. And, four months later you are back to the beginning with the Experian report. Maintain this rotation, well, forever. You can get your free reports at the one official site: annualcreditreport.com Dispute any unfamiliar items on your report, including unknown addresses. Always dispute items in writing, not online. This will create a paper trail toward showing you may be a victim of Identity Theft.

2. Opt-Out. Get your name off of the direct mail lists. This may take a few months for your name to drop out of all of the lists. Place your phone numbers on the do not call list. Carefully read the privacy policy that you receive every year from your credit card companies, banks, insurance providers, and anyone else that you may have an account with. Make sure you tell the company that you do not want to be included in their 'partner' marketing campaigns. Visit these sites to opt-out:www.dmachoice.org (mailing lists), a $1.00 fee applies and this will be effective for five years, and donotcall.gov (phones).

Bonus Tip: Ask Why and What! Ask that company why they need your Personally Identifying Information. Ask what they intend to do with your information. You can really put them on edge by asking what protective measures they have in place to safeguard your valuable information.

These are simple tips that can reduce your exposure and help to mitigate the damage a thief can and will do in your good name. Always use your common sense while dealing with your Personally Identifying Information.