The safety of your personal information and your identity is always at risk. And unfortunately, identity thieves may be even closer than you think. According to the Identity Theft Assistance Center (ITAC), for every five cases of identity theft, at least two victims knew the thief personally.

Identity theft is a complex crime. The impact of the crime is significantly magnified when the imposter is someone you know and trust. If you find yourself in this situation, you have several options:

-Proceed as if this was a regular case of ID Theft by filing a police report and cooperating with law enforcement’s investigation.
-Work with the creditors to see if a resolution can be made without police involvement.
-Hire a mediator to help devise a solution.
-Pay the debt and live with the consequences.

You might also consider encouraging the impostor to seek professional counseling.

Because none of the options are easy, by far the best solution is to help prevent the theft from ever occurring. In honor of National Protect Your Identity Week (PYIW), October 17-24, 2009, consider the following tips to protect your personal information:

Lock it up. Invest in a filing cabinet that locks. File all personal documents including credit card and bank statements, tax documents, and any other financial paperwork that are kept at home.

Use passwords to protect your computer. Be sure to password protect your computer and all files on your hard drive pertaining to your finances. Change passwords often and be sure to use a password that is not too easy for thieves to figure out.

Keep credit cards and PIN numbers safe. Do not keep your bank or credit card PIN numbers in your wallet or anywhere near your debit and credit cards. Also, do not lend your card to others or share your PIN. If you have already made this mistake, call the issuer to get a new card and change the PIN. Additionally, do not carry your Social Security card around with you. It should also be kept in a secure location.

Choose your houseguests wisely. Use caution when inviting strangers into your home. Be extra careful when choosing someone to housesit or pick up your mail when you are on vacation. Consider asking the post office to hold your mail when planning to be away for more than a few days.

Go paperless. Research shows that people who bank entirely online reduce their chances of becoming identity theft victims by 10 percent. Also, consider investing in personal finance software to track expenses and pay bills online.

No one can completely protect themselves from all types of identity theft. If you become a victim, time is of the essence. Acting quickly and thoroughly can limit the potentially far-reaching impact identity theft may have on your finances and life. For more information about protecting your identity, visit USDOJ.gov or FTC.gov.

It’s a feeling that sends chills down your spine. You feel alone, confused, and angry. Unfortunately it is a feeling experienced by many people each year – it’s the feeling caused by identity theft. Claiming millions of victims each year, identity theft is one of the fastest growing crimes in the United States. According to the Federal Trade Commission, identity theft affected nearly 10 million Americans last year.

As part of a nationwide grassroots consumer education outreach our organization, Money Management International, has partnered with the National Foundation for Credit Counseling (NFCC) and other NFCC member agencies to offer financial education in recognition of Protect Your Identity Week (PYIW), October 17 -24, 2009. Protect Your Identity Week is designed to help people gain access to free information on prevention and learn what steps to take if they find themselves a victim of identity theft.

To kick the week off, consider the following tips to safeguard your personal information:

-Don’t leave your wallet or statements lying around—even at home.
-Don’t carry Social Security cards or anything with your Social Security number on it.
-Keep track of your credit card receipts and carbons.
-Never tell anyone your card number over the phone, unless you initiate the phone call.
-Never allow your credit card number to be used as identification.
-Collect your mail regularly and destroy unwanted credit solicitations.
-Monitor your credit statements.
-Visit AnnualCreditReport.com and review your credit report at least once a year. Report errors and inaccuracies immediately.

If you become a victim, acting quickly is the key to minimizing damage. Take these steps if you feel your identity has been stolen:

-File a police report.
-Immediately notify issuers of credit.
-Contact the fraud department of each of the credit reporting agencies to place a temporary 90-day Fraud Alert on your file.
-Monitor your credit file.
-Contact your local state Attorney General’s office and the Federal Trade Commission (877-IDTHEFT).
To learn more about protecting your identity or to find a theft prevention event near you, please visit ProtectYourIDNow.org.

At some point we’ve all fantasized about what it would be like to trade places with someone else. Well guess what, there’s someone out there who isn’t just fantasizing. They are taking great strides to obtain your identity.

Last week, I wrote about the importance of being a smart Internet shopper. Today, I want to address online security. Identity theft typically increases during the holidays as shoppers use credit more often in stores and make more purchases online. The Internet is becoming a more and more popular place to have your identity stolen as the new generation of thieves are becoming more tech savvy. December 15 is “Green Monday,” which is said to be one of the biggest online shopping days of the season; even bigger than Cyber Monday, and a perfect opportunity for identity thieves to hack into your personal information.

Consider the following when shopping online:

• Protect your equipment. Install the latest virus protection software.
• Shop secured sites. Before clicking the “Buy Now” button, make sure the URL of the Web site you’re shopping on begins with “https://” and there’s a locked padlock on the page.
• Pay by credit card. Using a credit card is the safest way to shop online. The Fair Credit Billing Act gives you the right to dispute credit card purchases, and in most cases will only hold you responsible for the first $50 in charges.
• Read your statements. Pay close attention to your credit card bills and make sure there aren’t any unauthorized charges.
• Create smart passwords. Don’t use social security numbers as your password, and don’t save passwords in your web browser without a master password to protect them.

Identity theft is recognized as a serious social issue by agencies such as the Federal Trade Commission, the Department of Justice, the FBI and the United States Secret Service. For more information about protecting your good name, visit www.usdoj.gov or www.consumer.gov.