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Surviving Identity Theft
You have probably heard the news stories where a credit company had data stolen from their cardholders. Citi lost 50,000 names and account numbers because of glitch in their shipping provider. Checkpoint Data and MasterCard were hacked and account numbers were stolen. You hear about it every day, but your vulnerability doesn’t set in until you are the victim. Consider these statistics from the Federal Trade Commission’s Annual ID Theft Survey:
- On average, victims of “New Accounts & Other Frauds” ID Theft indicated that the person or persons who misused the victim’s personal information had obtained money or goods and services valued at $10,200 using the victim’s information. This result suggests that the total loss to businesses, including financial institutions, from this type of ID Theft was $33 billion in the last year.
- Americans spent almost 300 million hours resolving problems related to ID Theft in the past year.
- 15 percent of ID Theft victims reported that their personal information was misused in non-financial ways. The most common such use reported was to present the victim’s name and identifying information when someone was stopped by law enforcement authorities or was charged with a crime.
- The most commonly reported form of Identity Theft involves the misuse of an existing credit card or credit card number. 6.0% of survey participants indicated they had been the victim of ID Theft, but that the misuse of their information had been limited to the misuse of an existing credit card or credit card number.
- People who have experienced the more serious forms of ID Theft – those who had new accounts opened or other types of fraud committed using their personal information – reported that the misuse took place over 6 months or longer.
If you or a loved one is the victim of identity theft, there are some activities you must perform immediately to be sure it does not happen again.
Review Your Credit Reports
If it is reported to you that your identity was stolen, immediately contact one of the three credit reporting agencies – Equifax, TransUnion, and Experian. As soon as you file a report with one agency, they will automatically contact the other two. Fraud alerts will be placed on your credit report and copies of the report will be sent to you for review. If any illegal activity is occurring, your credit report will provide you with the activity so you can take action. But also be sure to check for inquiries on your account. It is a signal that someone may be attempting to see what they can get away with. It is advisable to continue reviewing your reports throughout the next year to be sure no further activity is taking place. Many experts in this arena recommend reviewing your reports every four months.
Close Accounts Showing Fraudulent Activity
Pay close attention to any credit accounts that show fraudulent activity, including credit cards, bank accounts, telephone accounts, and other lenders. If you close accounts and reopen them later, be sure to select brand new passwords and personal Identification Numbers (PIN). If there has been illegal activity on any of your credit accounts, be sure to ask the company for their fraud dispute form.
File A Police Report
As soon as you find out about the theft, be sure to file a police report with your local police department. It is imperative that you keep a copy of this report on file in the event of future fraud. Creditors will need to see this police report, which proves unlawful prior events.
File A Complaint With The Federal Trade Commission
The Federal Trade Commission (FTC) is in the business of protecting consumers. If you have had your identity stolen, be sure to file a report with them by visiting www.consumer.gov/idtheft or call the FTC’s Identity Theft Hotline: toll free 1-877-ID-THEFT.
Be Proactive
The best thing you can do is to take necessary measures to prevent identity theft in the first place. Keep all of your personal information private by keeping it locked up in a safe location; do not share your information with anyone you do not know or trust, and be sure to shred all private documents you wish to destroy. By taking the right preventative measures, you can avoid theft.
Finally, there is an option for people who want to have the protection of professional monitoring. Identity Theft ShieldSM is an exciting and effective program that monitors your credit and personal information and provides for assistance in the event that your identity is stolen. If you fall victim, you will have a professional fighting for you – for just a low monthly fee.
If you’re interested in learning more about Identity Theft ShieldSM, give your CIA Financial Group representative a call at 888-226-7730.
Featured Service
 This month's featured service is:
Personal Insurance Services
There are things in life you want to protect from outside influences.
Your family can be impacted by the illness or death of a primary
bread-winner. Your home can be compromised from unknown elements,
including severe weather, fire, and theft. Your automobile and other
vehicles can be damaged in accidents or stolen from underneath you.
Each of these must be protected by insurance coverages to help you
maintain control of the unknown influences.
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Staffer Spotlight
Get to know one of the members of the CIA Financial Group Team each month in our 'Staffer Spotlight'. This month, we would like to introduce you to Melissa Nadolski - Licensed Sales Representative.
Q. What is your position at CIA Financial Group?
A.
Licensed Personal Lines Sales Representative
Q. How long have you been with CIA Financial Group?
A. I have been with CIA Financial Group for the past five years
Q. What is the best part of your job?
A.
I have the opportunity to help our clients find the best possible insurance coverage while saving them money.
Q. What are your professional goals?
A.
To help grow our personal insurance business while providing outstanding client service.
Q. Why did you choose this career?
A.
A friend of mine worked in the business and I was just “filling in”. It just progressed from there and is now something I love to do.
Q. What important trends do you see in the industry?
A.
The growing need for financial service providers to offer more comprehensive services under one roof. Something CIA Financial Group does already!
Q. Why did you choose to work for CIA Financial Group?
A.
CIA Financial Group is a very kind and generous company that is willing to work with employees and their schedules.
Q. What are your hobbies or interests outside of work?
A.
I enjoy bowling, snowmobiling, and spending time with my family at our cottage up north.
Q. Where are you from?
A.
I am originally from Trenton and now live in Warren. However, we are in the process of relocating to north Macomb County.
Q. What is your favorite book/movie?
A.
I am a big movie buff, so it is hard to say. I love comedies and your good, old fashion “chick flick.”
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