Catch These Tips, If You Can

The forgery and identity theft mastermind portrayed by Leonardo DiCaprio in the 2002 film Catch Me if You Can has put together a list of tips to avoid being a victim of identity theft.

Frank W. Abagnale, who is now an anti-fraud adviser to the Federal Bureau of Investigation and other government agencies and corporations, has written a column with a list of “ten tips to prevent identity theft” for the www.Bankrate.com  Web site.

In his commentary, Abagnale notes that while lenders ultimately pay the steepest price for identity theft crimes, individual consumers who are victims, on average, “will spend $1,374 and 175 hours cleaning up their credit reports.”

He also notes that in his criminal career, “I don't know of any crime that's easier -- and easier to get away with -- than identity theft.” He notes that written checks alone contain plenty of information to get an identity thief started. Plus, if a Social Security or Drivers License number is added to the endorsement by a retailer, a false trail becomes even easier to make if someone with criminal intent handles the check.

Abagnale also spells out that identity thieves have become more bold with false identities, not just applying for one credit card to be used for a couple of weeks, but rather opening several accounts, perhaps going so far as to apply for a car loan or even a mortgage.

While those are discouraging words, Abagnale also offers 14 prevention tips, including the following:

·            Refuse to print your Social Security number on your checks, or to have it printed by retailers on a check

·           Own a cross-cut shredder and use it on bank statements, credit card statements and credit card applications

·           Look at credit card statements carefully each month to check for unfamiliar and unauthorized activity

·           Make photocopies of the backs of credit cards and other cards carried in your wallet so, in case of a lost or stolen wallet, banks can be called immediately to put a freeze on account activity.

The entire list of tips can be found at the Bankrate.com Web site.