What do you know about Identity Theft?

Identity theft continues to be a major source of fraud in this country. In 2005, 8.9 million Americans were victims of identity theft, with a total cost of $56.6 billion. When it comes to your identity, knowledge is power. Take this short quiz to see how much you know.

1. Which of the following is one of the three nationwide consumer reporting companies?
A) Equifax
B) Experian
C) TransUnion
D) All of the above

2. What would make the best password for your online bank or credit-card account?
A) 12345
B) Your mother’s maiden name
C) A random password using both
numbers and letters
D) The last four digits of your Social
Security number

3. If you suspect that your identity has been stolen, after contacting the three major credit bureaus, you should:
A) Notify the Federal Trade Commission
B) Report it to the FBI
C) Call the Department of Homeland Security
D) Get Sam Spade on the case

4. As long as you physically have your credit cards, they’re in no danger of
being used fraudulently.
A) True
B) False

Answers:
1. D) All of the above.
Consumers can request one free credit report from each of the three credit bureaus every 12 months. To obtain a free copy of your credit report, go to www.annualcreditreport.com.

2. C) A random password using both numbers and letters.
Identity thieves can discover your Social Security number and mother’s maiden name
and get easy access to your accounts. And the consecutive numbers “12345” might be fi ne for your luggage but not for your financial records.

3. A) Notify the Federal Trade Commission.
The FTC maintains a national database of ID theft reports. The agency can also help you determine the steps to take to restore your name and credit.

4. B) False.
In many cases, a thief may need only your credit-card number and expiration date to
make purchases, without having the physical credit card itself. You should diligently
check all bank and credit-card statements for fraudulent purchases and notify your credit card company or bank immediately if you suspect illegal activity on an account.