The incidence of identity theft continues to rise, with more than 700,000 reports received each year. In fact, identity theft is the number one complaint received by the Federal Trade Commission (FTC).

Identity theft is when someone steals personal information – such as your Social Security or account numbers – to pose as you, making credit card and other financial transactions in your name.

In the process, your accounts can be wiped out and credit history damaged. To help, the FTC recently unveiled an “identity theft affidavit.” This form simplifies the process of notifying credit card carriers, banks and other financial institutions that you’re a victim of fraud.

To protect members from identity theft, MAFCU has implemented a strict Privacy Policy to ensure that confidential information disclosed by you to the Credit Union is restricted to only those employees who need this information to serve you better. Additionally, the Credit Union is offering a one-hour course for Members, providing strategies for protecting against fraud

To protect yourself, periodically check your credit report to ensure that no new accounts have been opened in your name without your knowledge. Should you detect fraud, here’s what to do:

Call the Identity Theft Clearinghouse toll-free at 1-877-ID-THEFT to report the crime.

Contact the appropriate creditor or financial institution, as well as the police, and the police where your theft took place.

Contact the three major credit bureaus and ask that your file be tagged with a “fraud alert” with no new credit granted without your approval. Call Equifax, 1-888-766-0008; Experian, 1-888-397-3742; and Trans Union, 1-800-680-7289.

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