Avoiding Identity Theft and Scams

Identity theft is a crime that leads to billions of dollars of losses each year for consumers and businesses. Each year, criminals find new ways to steal your identity. If your identity is stolen, it can not only cost you countless hours of work to restore your identity, it can also result in a significant loss of your assets and damage to your credit score.

This section of Your Money New York is designed to help you avoid identity theft and to give you information on what to do if you discover your identity has been stolen.

The New York State Consumer Protection Board (CPB) administers the State’s Identity Theft Prevention and Mitigation Program. To learn more about identity theft prevention and response, privacy, security freeze, recent scams, and other identity theft-related topics, please visit the CPB website. File complaints by calling 1-800-697-1220 or by filling out a complaint form, either online or by mail.

The Federal Trade Commission has created an Identity Theft Web site to serve as a one-stop national resource to learn about identity theft. Click here to learn more.

The New York State Banking Department has compiled an extensive list of the most common ways a criminal can steal your personal data. This includes descriptions of the following scams: Phishing, Advance-Fee Loan Scams, Nigerian or 410 Scams,Fake Check Scams, Disbursement of Will or Charitable Donation Scams, Award or Lottery Fraud, Fraudulent Goods Order Scam, Real Estate Scam, Gasoline Coupons, Shoulder Surfing, ATM Skimmers or Lebanese Loops, Swipe and Theft, Guaranteed Credit Cards, Property Flipping, Predatory Lending, Deed Transfer or Foreclosure Scams, Home Improvement Loan or Steering Scams, Wrong Number, Online or e-mail Scams, Ponzi or Pyramid Scheme, Recovery Room Scam, Government Grant and Loan Scams, Free Government Money Scam, Unclaimed Funds Scam, and the Prescription Drug Scam.

While this list may appear long, it is just a sample of the ever-expanding universe of scams that exist to separate you from your hard earned money!

Here are some simple steps you can take to reduce your risk of being a victim of identity theft, which are adapted from FTC guidelines:

• Avoid “dumpster divers.” Be sure to shred financial documents such as bills, checks, taxes, and other paperwork containing personal information before throwing them out.
• Protect your Social Security number. Do not carry your Social Security card or write your Social Security number on checks or other documents. Avoid giving it out unless you know exactly who you are giving it to and why. Request the use of a different form of identification, if possible.
• Watch out for “phishing” or “pretexting” tactics. Operators of these ploys get your information by pretending to be a legitimate company claiming to have a problem with your account. Don't give out personal information on the phone, through the mail, or over the Internet unless you know who you are dealing with.
• Be safe in cyberspace. Never click on links in unsolicited emails.  Instead, type in web addresses you know. Use firewalls, anti-spyware, and anti-virus software to protect your home computer. Be sure to keep them updated.
• Be safe at home. Keep your personal information in a secure place at home. If you have roommates, employ outside help such as cleaners or gardeners, or are having work done in your house, make sure your paperwork is not accessible.

 

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