You’ll be shocked at the statistics and trends for identity theft recently in the news.  Identity theft occurs more frequently than you would expect.  A somewhat new form of identity theft that is becoming more common is called ‘Synthetic Identity Theft’.  This type of identity theft occurs when a person’s identity is either completely or partially re-invented so to speak.  The most common technique for this is when someone steals your social security number and pairs it with a new name and birthdate, other than the one originally associated with the number, in turn creating a completely separate file in the credit bureau or a sub-file of the victim’s credit report.  This type of identity theft makes it much harder to track because it does not show up on the victim’s credit report directly.  Many younger adults (ages 18-20) are becoming the more common target for identity theft because they have not yet established a credit rating or history.

In addition to Synthetic Identity Theft, the following video describes how recently Identity Thieves have been targeting Tax Refunds.  The number of stolen tax refunds has drastically increased from 48,000 cases last year to 260,000 cases now according to NBC’s Pete Williams for the Today Show.

Identity Thieves Eye Tax Refunds

It is a frightening experience if it does happen to you and you may not even realize it until months or even years later!  This is why you should take preventative measures to avoid such fraud.

Here are a few preventative measures you can take:

• Never text or email or give out your Social Security Number over a cell phone conversation.
• Be aware that “Dumpster Diving” still occurs – Shred all important papers, especially pre-approved credit applications and credit card receipts.
• Be careful when using ATM’s – people can easily see you enter your pin number and gain access to your account.
• Cancel credit cards that you do not use – open credit accounts are easily targeted.
• Do not enter your credit card information on the internet unless the website you are using is a secured site.
• Try to check your credit report at least twice a year to review and make sure there isn’t any fraudulent activity listed. (Visit Equifax, Experian & Transunion for these reports.)
• Try to take your name off of promotional lists and opt out of any pre-approved offers – Identity Thieves often steal pre-approved credit card offers or stock brokerage, bank and credit card statements, tax information and other personal documents right from your mailbox!
• Monitor all bank statements and keep an eye out for any credit activity that you do not recognize.
• Take notice if you have not received mail lately – thieves sometimes file a change of address form with the post office and divert your mail to another location to steal your personal information.
• Stay away from Bogus Refinancing Offers – It is suggested that you go to the bank or call to inquire about refinancing.  Do not trust someone who calls and asks for your social security number so they can “check your credit in order to get you the most favorable refinance rate” or anything along those lines.

 As for Property Managers, you must be careful as well.  It has been reported that Property Managers, Apartment Owners and Community Associations are increasingly  becoming targets of what is known as “Smash & Grab Theft of Hard Drives” and “System Breaches” due to the amount of information they store regarding their clients.  Again, with all of the advances in technology happening around us, identity theft is becoming more common.

These are just a few very important tips to help you prevent identity theft, they are worth taking the time to review and implement. 

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