Identity Theft

Identity theft may seem so far fetched but trust me it is not. With today’s technology and the growing sophistication of the world wide web, hackers and con artists are now living in a world that used to only exist in the pages of a science fiction book or a scene in a suspense-thriller movie.

This can be a major problem for anyone because not only will you have to worry about your personal properties like credit cards and bank accounts, you also have to think about the fact that someone else is using your name and your reputation to do god-knows what.

According to the FTC, there are more than 160,000 reported cases of identity fraud in the country in 2002.

Identity theft insurance reimburses the victims of identity thefts for the cost of restoring their identity and repairing credit reports. Some companies include these kinds of insurance as part of their homeowners insurance policies while others sell them as stand alone policies or as an endorsementa to a homeowners or renters insurance policies.

On average, these policies cost between $25 and $50 for $15,000 to $25,000 worth of coverage. Identity theft insurance provides reimbursement for expenses such as phone bills, lost wages, notary and certified mailing costs and sometimes attorney fees with the prior consent of the insurer.

Complaints about identity theft have surged from about 40,000 in 1992 to 750,000 in 1998, according to regulators.

Las Vegan Julia Twentyfive knows all too well how identity theft can destroy your life. A thief who stole her purse used her identity to rip off others in a credit card scam. Her nightmare cost her three days in jail, $15,000 and two years of her life to straighten it all out.

Metro police say they receive up to 75 new reports of identity theft every week here in Clark County. It’s the fastest growing crime in America today. It’s just a matter of time; sooner or later we’ll all become victims.

Ted Burke is a former law enforcement agent who has spent many years dealing with identity theft victims. “They really didn’t have an antidote or way to stop the bleeding until we came about. Burke is now the senior regional vice president of Prepaid Legal Services, Inc. in Nevada. His company has offices all over North America and has now partnered with the nation’s biggest investigative agency, Kroll Inc., to provide an insurance policy for ID theft victims.

“Generally, we’ll find out if they’re a victim before they know and we’ll notify them,” Burke said.

It’s called identity theft shield, an around the clock system of monitoring your credit, restoring your identity and reimbursing your costs in case your good name is stolen and used against you. And with 1 of out of every 4 Las Vegans at risk of falling victim to this rising crime, identity theft insurance may be the closest thing our society has to a cure.

Ted Burke adds, “It gives them peace of mind. They can sleep at night knowing we’re watching their back 24-7, 7 days a week no matter where they are or what they’re doing, we’re taking care of them.”

Identity theft shield benefits will cost your family anywhere from $10 to $12 a month. Pre-paid legal Services has been in business for more than 30 years and operating in Nevada since 1989.

The time it takes for a victim to recover from identity theft can be extensive, and while the wounds aren’t physical, they are psychological and life-changing in several ways.

Imagine having a clean credit history and working hard to pay your bills, only to find yourself suddenly with debt, with purchases in your credit cards that you did not make, or have outstanding utility bills that are not yours, or have lost and claimed benefits that you do not remember claiming, and having your credit destroyed because of going over the limit. Victims of identity theft find themselves unable to do many of the things they easily accomplished in the past: get approval for loans or mortgages, get credit for mobile phone accounts, or open a credit card account.
- Micheal Pastore

Identity theft occurs when someone steals personal information and pretends to be you to obtain credit cards, loans, and even jobs by using your work references.

Identity thieves only need to know your Social Security number, name, and address to wreck your good credit. Using easily accessible public records, they can learn your place of employment, date of birth, and mother’s maiden name. They can open a credit card account and immediately charge up to the limit with no intention of paying.

Credit cards can be obtained through banks and credit unions as well as chain stores. Many offers for “pre-approved” credit cards come in the mail.

Getting a credit card issued by department stores is simple. Only two forms of ID are required: a driver’s license with a picture ID and a second identification, like another credit card or your Social Security card.

What steps should you take to protect your identity with credit cards?
Ask stores at which you are applying for credit how they safeguard credit applications. Ensure that they are treated as secure documents.

Ask businesses how they store and dispose of credit card transaction skips. Ensure that proper safeguards are in place to treat these documents securely.

Never giver credit card numbers or other personal information over the phone unless you initiate the call. Even if you initiate the call, ensure that called party is not using a cellular or other mobile phone.

Carry only the credit cards needed for the current trip. Most people carry all their credit cards with them at all times.

The garbage bags are not secure place for old or pre-approved cards. Tear them up before throwing them away. Thieves can retrieve these documents and open credit accounts with new addresses.

Keep a list or photocopy of all credit accounts, along with expiration dates and phone numbers to call in case of theft. Keep this list in a secure spot at home.

When you purchase items with credit, always take your credit card receipts with you. Never toss them in a waste basket.

Do not have boxes of new checks delivered to your home. Arrange to pick them up at the bank or credit union.

Do not write credit card numbers on checks.

If you have applied for a new credit card and it does not arrive, contact the issuer.

Avoid giving credit card numbers over the phone if you are in a public place. Even at work, others may overhear and use the information.