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New Weapons In The Battle Against Identity Theft

The most valuable thing in your wallet may not be your cash and credit cards. It could be your name. Armed with a name and address, identity thieves can apply for loans, make purchases and even steal government aid.

It's happened to one out of five Americans, with an estimated 88 million Americans having been put at risk of identity theft from databases since early 2005, according to the Privacy Rights Clearinghouse, a nonprofit advocacy group.

In an effort to protect consumers, one major bank is now stepping up to the plate in a way so far unmatched by any of its rivals. SunTrust Bank just began offering-free of charge-credit monitoring and identity-theft protection to its personal checking clients. The idea, according to Gene Kirby, SunTrust corporate executive vice president, is to "arm consumers with the information they need to take the appropriate action in protecting themselves and their good names."

He also offered consumers the following tips:

• Monitor financial accounts and credit reports for accuracy on a regular basis. Catching mistakes early can help save you money.

• Don't give out personal information over the phone, through the mail or over the Internet.

• Don't write down passwords or PIN numbers-memorize them.

• Promptly collect all mail and place a hold on mail delivery when you go on vacation.

• Tear up or shred all personal documents before you throw them away.

• Learn all you can about identity theft. By staying alert and informed, consumers can help to protect their identity and accounts.

Article Source: http://global-in-arm.com/

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