Identity Theft

What is Identity Theft?

In cases of identity theft, criminals obtain your personal data (such as a credit card number or Social Security number) and use the information to assume your identity. Thieves may take over your existing accounts or use your name to open new accounts, or apply for loans. You may not even be aware that your identity has been stolen until a merchant or collection agency contacts you, seeking payment for a bill you know nothing about. Or, you may be declined for a loan or employment because your credit records show defaults on loans unknown to you.

Did You Know That...?

• The FBI calls identity theft the fastest growing white-collar crime in America?
• An identity thief could steal your identity to obtain money and property by using and ruining your good credit?
• One in every 27 consumers was a victim of identity theft in 2006?¹
• On average, victims spend up to 600 hours and $1,400 recovering from identity theft?²

These are all very frightening statistics. But there are things that you can do to protect yourself both before and after identity theft occurs. To assess your own personal risk of identity theft, click here and take the Identity Theft IQ test.

¹ 2007 Identity Fraud Survey Report released by the Better Business Bureau and Javelin Strategy & Research.
² Identity Theft: The Aftermath - 2003, released by the Identity Theft Resource Center, www.idtheftcenter.org

How can I protect myself from identity theft?

Unfortunately, your personal information is not always in your control. You may not be able to completely prevent identity theft from happening. However, there are definitely a number of precautions that you can take to minimize the risk of identity theft.

• Keep an eye on your credit card when you hand it to store clerks or wait staff.
• Limit the identification information and the number of credit and debit cards that you carry with you to only what you actually need.
• Be aware of possible eavesdroppers nearby when you are giving out personal information over the phone or in a public place.
• Don't give out personal information through the mail, on the phone or over the Internet unless you've initiated the contact.
• Guard your mail and trash from theft. Shred all documents, including credit card solicitations, that contain personal information.
• Remove mail from your mailbox promptly.
• Keep your Social Security card in a secure place and only give your Social Security number when absolutely necessary.
• Keep your purse or wallet in a safe place at work.

The following tools and links may also be helpful:

• What to do if it happens to you? - Tips from the FTC
• Are you at risk for Identity Theft? Take the Identity Theft IQ Test

How will Identity Theft Insurance help?

No matter how many precautions you take, you may not be able to fully prevent ID theft from occurring. If you become a victim of identity theft, reclaiming your identity can be a very stressful and time consuming process. You need a specialist who can guide you through the process. ID Theft Insurance will do just that. Plus, the insurance protection also reimburses you up to $25,000, with no deductible, for the expenses associated with repairing your damaged credit record. Learn more about the ID Theft Insurance offered by Travelers of Massachusetts by visiting our product section, or by talking to your independent agent.