Monitoring identity theft

Whether it's incoming or outgoing mail, it doesn't matter to a thief. These modern-day bandits use your mail as a bridge between destitution and prosperity with absolutely no thought given to the months or years that may be spent cleaning up the mess they leave behind. It can mean your good name and credit wiped out at the hands of a brazen thief in a matter of minutes. Job opportunities, loans, education, housing or cars can be eradicated from your fulfillment list once your name has been spurned by creditors.

Much of the problem is seeded by financial institutions who mail out solicitations for "pre-approved" credit cards. Intercepting thieves target this kind of mail by filling out the required information and declaring a change in address. The result is your new credit card being mailed to a thief without you even knowing.

So, remember to shred or burn all pre-approved credit card offers you receive in the mail. Make sure that you destroy this mail immediately before it inadvertently gets thrown out with the junk mail and into the hands of a garbage thief.

If you pay your bills by mail, you are routinely subjecting yourself to a violation of personal identity. Whether it's a cheque or credit card, your bank account information or credit card numbers are there for the offering.

Many merchants also unknowingly contribute to identity fraud by insisting on too much personal information for the back of cheques. Information like Social Insurance, Social Security or drivers license numbers. Don't give these numbers out to anybody because they could be devastating in the hands of an identity thief.

It's always a good idea to monitor your credit report on a regular basis. Look for errors like changes of address or new accounts you did not authorize. Also, check your monthly billing statements very carefully, looking for suspicious activity or items you didn't purchase.

Make sure your mailbox is as secure as it can possibly be by consulting with your local security consultant or locksmith for advice.

If you suspect that your identity has been stolen, here's what you should do:

• Contact the fraud departments of any one of the three major credit bureaus (Equifax, Experian, or Trans Union) to place a fraud alert on your credit file. The fraud alert requests creditors to contact you before opening new accounts or making any changes to your existing accounts. As soon as the credit bureau confirms your fraud alert, the other two bureaus will automatically be notified to place fraud alerts.
• Close the accounts that you know or believe have been tampered with or opened fraudulently.
• File a police report and get a copy to submit to your creditors and others that may require proof of the theft.
• Finally, file a complaint with the FTC. The FTC maintains a database of identity theft cases by law enforcement agencies for investigations. Filing a complaint also helps us learn more about identity theft and the problems victims are having.