Warning! You can be the next victim of the no.1 and fastest growing crime in America, identity theft. According to the Federal Trade Commission, there are almost 10 million people now being victimized every year. Some additional statistics on identity theft are as follows:

• 1 in 10 Americans are victims of identity theft.
• An identity is stolen every 4 seconds in the U.S.
• The average cost to restore a stolen identity is $8,000, not including attorney fees.
• Victims are spending over 600 hours to attempt to restore their good name.
• It takes 12 months on average, for a victim of it to notice the crime.
• Identity Theft thief may not use the stolen information, until years later.
• Over 223 MILLION data records of U.S. residents have been exposed due to security breaches since Jan 05.
• The “Black Underground Market” for non-public information (NPI) has exceeded the U.S. drug trafficking market.

With these staggering identity theft facts, should concern every person/consumer in this country. In as much, that we should be more careful & protective of how and who we give our non-public information to, but also we should be demanding more identity theft legislation, penalties, and criminal charges on identity theft thieves and business identity theft of lost or stolen NPI of employees and customers. Identity theft victims are suffering and sometimes need legal help, while businesses are relaxed in investing & implementing reasonable security systems to reduce identity theft in the workplace, compliance regulations enforcement are still to relaxed on businesses, the majority of thieves are not being caught, and many companies marketing identity theft services as a total identity theft solution to the problem, when they are only offering a credit monitoring program with a few bells and whistles. Being slow to change will cost victims and businesses more money in the long haul!

There are several ways to prevent identity theft, by taking pro-active measures immediately!

1. Enroll in a quality identity theft prevention service & restoration. Since, identity theft crime has exploded; several companies have begun offering some type of identity theft service, so be very selective in this valuable and much needed service. Don’t fall for the $1 million guarantees/warranties or relying on credit bureau fraud alerts or freezes for protecting your credit/financial information (oh, that is just your financial reports, how about your medical information, social security numbers, driver license number, or character/criminal); one company (LifeLock) has a lawsuit pending already. Then there are identity theft services that were tested and reported by Doug Pollack, New Reporter of CBS News (LifeLock, Debrix, and TrustedID) that fail the test in protecting someone’s credit records. So one must realize that all services are not the same, in benefits, features, or quality service. Compare the identity theft protection services, but also the companies that will stand behind their service.

   In my identity theft expert opinion, the best identity theft service in the marketplace is offered by Pre-Paid Legal Services, Inc. and administrated by Kroll Background America (Kroll, Inc.). Both companies have over 30 years of successful service respectively, financially solid, and are pioneers in their industries.

   Their service is endorsed by several associations and individuals across the country; the President & CEO of the U.S. Chamber of Commerce, the President of the Black National Chamber of Commerce, Former President of the American Bar Association, Director of the Identity Theft Institute, several Former State Attorney General, and others.

2. Order your credit report quarterly (Federal Law permits 3/year). Your credit monitoring service of choice will provide you one as well. Credit report monitoring service (1^st Qtr), Transunion (2^nd Qtr), Equifax (3^rd Qtr), and Experian (4^th Qtr). Never order your credit reports all at the same time. You can order your free at annualcreditreport.com.
3. Order your non-financial or specialty consumer reports, which are free once every 12 months by federal Law as well. This cover under Fair Accurate Credit Transaction Act (FACTA) and Fair Credit Reporting Act (FCRA). Through these sources you will be able to determine if you were a victim of identity theft in your non-financial reports, such as medical information records, background check records, tenant records, insurance claims, auto reports, personal property report, and others. All these records should be check on an annual basis.
4. Wallets/Purses don’t carry any NPI, unless needed. Then store and secure them. In other words, don’t carry your social security number, birth certificate, and minimize the number of credit cards to two. Don’t use ATMs other than at financial institutions. Don’t carry check re-order slips in your check book, plus account for all of your personal or business checks. Don’t order checks from value packs, but get them through your financial institution and pick them up if possible.
5. Mail/Document Security/Physical Security is the utmost importance.
   • Only have mail delivered to a PO Box or use a very solid & secure Lock Box. If you use a PO Box always shred your own JUNK Mail. Do not put in recycle bin.
   • Don’t leave mail in your mail box for pickup. Take the mail to the Post Office or drop mail into blue United States Parcel Service mail boxes.
   • Shred all credit card offers, convenience checks, and sensitive mail.
   • Don’t use your home address on checks, but a PO Box.
   • Bank Online and stop paper bank statements, unless you use a PO Box.
   • Use a small safe and lock/fire box to secure most important financial documents and personal information. Buy a shredder, safe, and 1 or 2 drawer fire file cabinet.
   • Buy goods online from a secured PC and secured web site. Avoid giving out your social security number unless it is required by specific services.
   • Create passwords that contain numbers and letter, plus don’t carry them around. But lock them in your lock/fire box.
   • Monitor your accounts (savings, checking, and credit card transactions online daily!).

By following these several pro-active steps, will help you from becoming a victim of identity theft or fraud and reducing your losses. Please remember, there are 5 types of identity theft that could affect you: financial/credit identity theft, medical identity theft, driver license identity theft, social security identity theft, and character/criminal identity theft. That’s why it is so important to monitor your financial records, as well as, non-financial records. If considering an identity theft prevention service, look for the service that will protect you and your family, in all 5 types of identity theft for more security.

Author: Anthony Herring
Article Source: EzineArticles.com
Provided by: Electric Pressure Cooker