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CNN Live Saturday
How Can You Protect Against Identity Theft?
Aired December 20, 2003 - 12:34 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
HOLLY FIRFER, CNN ANCHOR: Well, while you're whipping out that credit card today, something to keep in mind, identity theft. Seven million consumers were victims in 2002. So how can you make sure this crime doesn't happen to you? Steven Mihm explores that topic in an article appears in tomorrow's "New York Times" magazine. And he joins us today from Boston.
Hi there Steven.
STEVEN MIHM, "NEW YORK TIMES" MAGAZINE: Hi, thank you.
FIRFER: First of all, what are some of the most common ways to commit identity crime? what could we watch out for?
MIHM: Well, the very interesting thing about the way identity theft is practiced today; is that it begins typically offline, and that's where people are most vulnerable. It begins usually -- and the story coming out in "The Times" speaks of how these two criminals harvested identities from dumpsters, from stolen mail, from places where documents that were carelessly discarded or carelessly stored could be taken. And then once the documents were taken with the person's name, Social Security Number and date of birth, they could be parlayed into new lines of credit to defraud the victim.
FIRFER: So can any of these firms or these institutions then be held liable? Or does it all fall into the consumer's lap?
MIHM: At the moment it's largely falling on the consumer. Unfortunately, most of the legislation that exists on the federal and the state level, does not require that places like hospitals, your dentist, even an apartment rental agency, it doesn't require that when they receive documents that contain Social Security Numbers, dates of birth, doesn't require they protect those and keep them safe. So they oftentimes end up in the trash.
FIRFER: So then what -- what is being done to protect the consumer? Is the Department of Justice doing anything?
MIHM: The Department of Justice, obviously involved in the investigation and prosecution, you know, the United States district attorneys. But the main federal agency or branch that's responsible is the Federal Trade Commission. And anyone who believes they've been a victim should probably begin their attempt to repair their credit by going to the Federal Trade Commission.
FIRFER: OK. And just -- if could you quickly give us simple tips, how do you protect yourself from something like this? MIHM: Well, first you should buy a crosscut shredder and shred any document that you have that you might otherwise be discarding in the trash or recycling. Two, you shouldn't hand out your Social Security Numbers to anyone, unless it's absolutely necessary. Social Security Numbers were originally intended fort Social Security Program, not for university I.D.'s, not for all the other uses they're now put toward.
And finally, you should, if you find yourself to be the victim of identity theft, you should go to the Federal Trade Commission. They have a website. You can also, I believe, call them at 1-877-ID-theft. And they can walk you through the ways that you can both protect yourself but also repair the credit and the damage that's been done to you.
FIRFER: Great, some helpful information on this holiday season. Steven Mihm, thank you much.
MIHM: Thank you.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired December 20, 2003 - 12:34 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
HOLLY FIRFER, CNN ANCHOR: Well, while you're whipping out that credit card today, something to keep in mind, identity theft. Seven million consumers were victims in 2002. So how can you make sure this crime doesn't happen to you? Steven Mihm explores that topic in an article appears in tomorrow's "New York Times" magazine. And he joins us today from Boston.
Hi there Steven.
STEVEN MIHM, "NEW YORK TIMES" MAGAZINE: Hi, thank you.
FIRFER: First of all, what are some of the most common ways to commit identity crime? what could we watch out for?
MIHM: Well, the very interesting thing about the way identity theft is practiced today; is that it begins typically offline, and that's where people are most vulnerable. It begins usually -- and the story coming out in "The Times" speaks of how these two criminals harvested identities from dumpsters, from stolen mail, from places where documents that were carelessly discarded or carelessly stored could be taken. And then once the documents were taken with the person's name, Social Security Number and date of birth, they could be parlayed into new lines of credit to defraud the victim.
FIRFER: So can any of these firms or these institutions then be held liable? Or does it all fall into the consumer's lap?
MIHM: At the moment it's largely falling on the consumer. Unfortunately, most of the legislation that exists on the federal and the state level, does not require that places like hospitals, your dentist, even an apartment rental agency, it doesn't require that when they receive documents that contain Social Security Numbers, dates of birth, doesn't require they protect those and keep them safe. So they oftentimes end up in the trash.
FIRFER: So then what -- what is being done to protect the consumer? Is the Department of Justice doing anything?
MIHM: The Department of Justice, obviously involved in the investigation and prosecution, you know, the United States district attorneys. But the main federal agency or branch that's responsible is the Federal Trade Commission. And anyone who believes they've been a victim should probably begin their attempt to repair their credit by going to the Federal Trade Commission.
FIRFER: OK. And just -- if could you quickly give us simple tips, how do you protect yourself from something like this? MIHM: Well, first you should buy a crosscut shredder and shred any document that you have that you might otherwise be discarding in the trash or recycling. Two, you shouldn't hand out your Social Security Numbers to anyone, unless it's absolutely necessary. Social Security Numbers were originally intended fort Social Security Program, not for university I.D.'s, not for all the other uses they're now put toward.
And finally, you should, if you find yourself to be the victim of identity theft, you should go to the Federal Trade Commission. They have a website. You can also, I believe, call them at 1-877-ID-theft. And they can walk you through the ways that you can both protect yourself but also repair the credit and the damage that's been done to you.
FIRFER: Great, some helpful information on this holiday season. Steven Mihm, thank you much.
MIHM: Thank you.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
