Accounting and Finance Foundations

Unit 10

Accounting and Finance Foundations Unit 10: Credit 757

Credit

Chapter 22

Lesson 22.3

Student Guide

Identity Theft (cont’d)

Although it’s impossible to completely eliminate the risk of having your identity stolen, you can take some

basic precautions to protect yourself from being the target of a thief. Simple steps that you can take to

protect yourself include:

n Protect your Social Security number. Memorize it, and leave your Social Security card in a safe

place at home.

n Never give out your personal information when someone calls or e-mails you. Only share the infor-

mation with employers, individuals, and businesses that you know and trust.

n Minimize the number of identification cards you carry in your wallet.

n Sign all new cards when you receive them.

n Don’t leave checks out for anyone to see or use.

n Shred financial documents before placing them in the trash.

n Keep track of your receipts.

n Buy only from secure Internet sites, and protect your computer from viruses.

n Follow up with your creditors if you do not receive a bill on time.

n Monitor your credit regularly. You have the right to one free credit report each year, but you can

also pay a small fee to pull your credit reports and scores quarterly or monthly.

If you suspect that your identity has been stolen, you should take action immediately. File a police report.

Call all three of the major credit reporting agencies, notify them that you have fallen victim to identify theft,

and request that they put a fraud alert on your name. Also, call your bank, creditors, and the Federal Trade

Commission, and close all fraudulent accounts.

Equifax ..............................................................1-800-525-6285

Experian ............................................................1-888-397-3742

Trans Union .......................................................1-800-680-7289

Federal Trade Commission ....1-877-IDTHEFT (1-877-438-4338)