Page 397 - Encyclopedia of Business and Finance

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IIA

1. Immediately report the identity theft to the local
Contact information for three credit bureaus police, and keep a copy of the police report as evi-
dence
Credit bureau Website Credit report Fraud unit
2. Immediately call each of the three credit bureaus
Experian www.experian.com 888-397-3742 888-397-3742 (see Table 1) and request credit reviews and a 90-
Equifax www.equifax.com 800-685-1111 888-766-0008
TransUnion www.transunion.com 800-888-4213 800-680-7289 Day Initial Security Alert or a 7-Year Fraud Victim
Alert to prevent further damages
3. Work cooperatively with any creditors of accounts
Table 1
where fraud occurred
SEE ALSO Crime and Fraud; Cyber Crime
On the Internet, thieves use high-tech skills to obtain
people’s usernames, passwords, credit card numbers, and BIBLIOGRAPHY
other valuable information. At businesses and hospitals, Experian. http://www.experian.com
employees may access their company networks to steal Hoar, Sean B. (2001, March). Identity theft: The crime of the
database files of customer and personnel records for crim- new millennium. United States Attorneys’ USA Bulletin, 49(2).
inal use. Organized crime schemes involve hiring hackers Retrieved November 17, 2005, from
http://www.usdoj.gov/criminal/cybercrime/usamarch2001_3.
or bribing employees to steal valuable information from
htm
corporate databases.
TransUnion. http://www.transunion.com
PREVENTING IDENTITY THEFT
Jensen J. Zhao
To avoid being the victim of identity theft, the following
proactive measures should be taken:

• Do not give out personal information except when
absolutely necessary IIA
SEE Institute of Internal Auditors
• Avoid having a SSN printed on a driver’s license, a
personal check, or membership cards
• Refuse to give a SSN over the phone, in an e-mail,
or as identification for store purchase and refund IMPORTS
• Exercise caution when using credit or debit cards at SEE Global Economy; International Investment; Interna-
ATM stations, stores, restaurants, and online stores; tional Trade; Trading Blocs
do not let others get access to such information
• Carefully review monthly statements from credit
card companies and banks for accuracy; report any IMPULSE ITEMS
problem to them immediately
SEE Consumer Behavior; Marketing Mix; Shopping
• Keep personal, financial, and medical records in
secure places; shred old documents and mail such as
preapproved credit card solicitations, credit card
receipts, and bank statements before throwing them INCOME
away By working and being productive, households earn an
• Do not place outgoing mail in unlocked mailboxes income and businesses make a profit. The total amount
because a red flag up on the mailbox could attract that households and businesses receive before taxes and
thieves; promptly remove delivered mail from other expenses are deducted is called aggregate income.
The amount of money that is left after taxes and other
unlocked mailboxes
expenses have been deducted from one’s pay is called dis-
posable income. Discretionary income is what consumers
STEPS FOR VICTIMS TO TAKE (households) have to pay for the goods and services they
Victims of identity theft should take the following coun- desire. This article will focus only on households and how
termeasures: they consume their income. Households spend most of

374 ENCYCLOPEDIA OF BUSINESS AND FINANCE, SECOND EDITION