Identity Theft - Don't Think You Are Immune

As identity theft goes more than prevalent, the need to regularly check your credit report is very
easy to see and understand. Two large newspaper headlines in the intelligence recently point to how closely tied your
credit report and identity theft are.

First, we hear of the problems of Choice Point, a company involved in the storage and distribution
of credit information. It looks some criminals put up a fake company and used it to obtain
sensitive credit information. Then in bend they used it to steal the personal identities of about 750 people. That number will probably grow, since more than than than 500,000 people across the country have got been
set at risk.

Second, come ups the narrative about missing computing machine tapes containing credit card records of more
than 1.2 million of Bank of America cardholders. Most of the accounts belonged to federal
authorities employees. This have placed the account holders in danger of increased hazard of
identity theft.

Both of these companies are now in the procedure of notifying the people of their exposure. The
truly bad portion of all the problems is these leaks and losings occurred calendar months ago. These two
companies were not very quick in notifying the people affected. Manner too much damage could
have got been done before they had been alerted to the trouble.

While the newspaper headlines may change, the need to check your credit report makes not. You may be very
careful. You may scintilla your documents, the credit card and other financial solicitations you
have in the mail. You may take great care how and where you give out your financial
information. Unfortunately as these narratives show, it may not be enough.

Identity theft impacts about 10 million victims per year. It have been estimated to cost consumers
and businesses more than 50 billion dollars a year. It is easily among the fastest growing
classes of achromatic neckband crime. You need to make all you can to struggle theft of your identity.

A new law have been set on the books by the United States Congress to assist armed combat the losses. It allows the
you, the consumer to bespeak a free credit report from the credit agencies once a year. You should
not waver to take advantage of it. However, the law have a rollout characteristic which makes not allow
full access for all Americans until September 1 of this (2005) year.

While this is a measure in the right direction, in typical manner the authorities goes on to go forth the
public exposed. You should access your credit report much more than often than once a year. If an
identity theft takes topographic point just after receiving the free credit reports, an tremendous amount of
damage can be done before you can reexamine your adjacent free report.

The Federal Soldier Trade Committee have got set together a listing of inquiries and replies concerning this
new law and the consequence it will have on your credit report and your hazard of identity theft. They can
be helpful to you in determining your rights under the law

It do sense to check your reports regularly, as often as, on a monthly basis. This may look a
spot much to you, but just inquire a individual who have had their identity stolen how much fuss it is to
take your life back. They will state you it is well deserving the effort. Let’s human face it, no 1 cares as
much as you, about your credit record, and the damage that identity theft could cause in your life.