The FTC estimates that as many as 9 million Americans have their identities stolen each year. In fact, you or someone you know may have experienced some form of identity theft. The crime takes many forms. Identity thieves may rent an apartment, obtain a credit card, or establish a telephone account in your name. You may not find out about the theft until you review your credit report or a credit card statement and notice charges you didn't make-or until you're contacted by a debt collector. Recovering your identity can be expensive and time consuming.

Identity theft starts with the misuse of your personally identifying information such as your name and Social Security number, credit card numbers, or other financial account information. For identity thieves, this information is as good as gold. Skilled identity thieves may use a variety of methods to get hold of your information, including:

Dumpster Diving
They rummage through trash looking for bills or other paper with your personal information on it.

Skimming
They steal credit/debit card numbers by using a special storage device when processing your card.

Phishing
They pretend to be financial institutions or companies and send spam or pop-up messages to get you to reveal your personal information.

Changing Your Address
They divert your billing statements to another location by completing a change of address form.

Old-Fashioned Stealing
They steal wallets and purses; mail, including bank and credit card statements; pre-approved credit offers; and new checks or tax information. They steal personnel records, or bribe employees who have access.

Pretexting
They use false pretenses to obtain your personal information from financial institutions, telephone companies, and other sources.

Fighting Identity Theft
Awareness is an effective weapon against many forms identity theft. Be aware of how information is stolen and what you can do to protect yours, monitor your personal information to uncover any problems quickly, and know what to do when you suspect your identity has been stolen.

Armed with the knowledge of how to protect yourself and take action, you can make identity thieves' jobs much more difficult. You can also help fight identity theft by educating your friends, family, and members of your community. The FTC has prepared a collection of easy-to-use materials to enable anyone regardless of existing knowledge about identity theft to inform others about this serious crime. You can get these materials from the FTC website.

Identity Theft Insurance
Powell Insurance offers identity recovery insurance to reduce the risk of losses connected with identity theft. Our plans are modestly priced and cover many of the costs and expenses associated with restoring your good name.

For more information on Identity Theft, contact your Powell agent.