Protecting Yourself Against Identity Fraud Intersections, Inc., and Wells Fargo & Company and supported by the Better Business Bureau— identified important findings about the impact of fraud and how consumers can protect themselves. “The good news is research shows consumers have more control than they may think and more of them are actively taking steps to protect themselves,” says James Van Dyke, president and founder of Javelin Strategy & Research. “Additionally, the industry has made significant strides to resolve fraud incidents for their customers and put stronger controls in place to limit fraud, which is lessening the impactof this crime.” Tips to prevent identity fraud 1. Keep personal data private. Do not provide sensitive financial information over the Internet or phone, including Social Security numbers, passwords, PINs or account numbers, unless you initiated the interaction. 2. Online is safer than off- line. Move your financial transactions online to eliminate many of the most common avenues fraudsters use to obtain personal information. Moving online includes turning off paper invoices, state- Trending Overall Fraud Amounts and Incidence Rates 2004 - 2008 $70 2 s0 10% 9% 8% ™ 6% $30 1” $60 $60 $57 _ $0 2 2 5% $20 3% 3 2 (NAPSA)—Accordingto a recent survey, an estimated 9.9 million Americanswerethe victimsof identity fraud in 2008, an increase of 22 percent over 2007. At the sametime, the actual cost to consumers went down 31 percent. WhatIs Identity Fraud? Identity fraud is defined as the unauthorized use of another person’s personal information to achieveillicit financial gain. The 2009 Identity Fraud Survey Report—produced by Javelin Strategy & Research, sponsored by $0 2004 2005 2006 2007 2008 (032 Whatistheapprocimate deli valueofwhatthe Pesan cbiainedwhiemisusingyourinfarmatian? Regularly monitoring your credit reports can help reduce the impactof identity fraud. ments and checks, including paychecks, and replacing them with electronic versions. Consumers should also install and regularly update anti-virus and anti-spyware software, and keep operating systems and browsers updated. 3. Be aware of those around you. Be mindful of your environment and others who may be in proximity of overhearingsensitive financial or personal information or watching you text. 4. Be vigilant. Monitor your accounts regularly and request a free credit report. The survey found that those who took more than six months to detect fraud saw four times higher average costs. 5. Ensure credit and debit cards are protected. Obtain credit and debit cards from financial institutions that provide you zero liability if your card is ever lost, stolen or used without authorization. To take an identity fraud safety quiz and download a free consumer version of Javelin’s identity fraud report, visit the Web site at idsafety.net or visit identityguard.com or wellsfargo. com/privacy_security/fraud_preve ntion/.
