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Ever wonder just how secure your personal information is from identity theft?
Now there's a way to find out.
Simply log onto bbbonline.org/idtheft/safetyQuiz, and answer 11 multiple-choice questions on such things as where you store sensitive financial data and how often you monitor your current account balances.
Hint: don't pick "in an unlocked desk drawer" or "never."
Next, click on "View My Results." Up will pop your score, personalized tips on how to thwart identity theft, and an animated sketch of a shifty-eyed thief behind bars.
Don't feel bad if your score is higher than a perfect zero in a scale of zero to a hundred. Most people rack up about 38 points, according to the quiz site.
They may not be storing bank statements where no one else can access them, for example. Or they may not be checking their financial accounts online at least once a day.
Hey, you were warned.
The illuminating quiz is based on findings in the 2005 Identity Fraud Survey Report conducted by Javelin Strategy & Research, a Pleasanton, Calif.-based financial-services consulting firm. The report was modeled after a similar one the Federal Trade Commission completed in 2003.
"We wanted to do a longitudinal study, and used the same firm that did the phone interviews for the FTC," said Edward Neumann, managing director of the firm's Arlington office. "The Better Business Bureau thought this would be good for public safety and stepped up to sponsor it."
Despite the hoopla surrounding a number of recent high-profile identity theft cases--including those of socialite Paris Hilton and information brokers ChoicePoint and LexisNexis--Javelin found that the number of identity-theft cases has actually dropped slightly since the FTC study.
Its new report, which came out last month, found that 9.3 million American adults had been victims of identity fraud last year. That's 800,000 fewer than were reported in the 2003 survey.
But the costs associated with these frauds have grown. The figure was $52.6 billion last year, a 2.3 percent increase over the inflation-adjusted figure of $51.4 billion in the 2003 study.
Surprisingly, the study found that the majority of identity thieves aren't nameless hackers trying to break into company databases or Hilton's T-Mobile Sidekick II. They're people you know: family members, friends, relatives, even neighbors.
This group makes up half of all known identity thieves, according to Javelin's findings. And they typically obtain Social Security and credit card numbers and other personal information through such low-tech means as stealing wallets from purses or swiping checks and financial statements out of mailboxes.
"The best way to make sure your identity is secure is to eliminate paper statements and get them online instead," Neumann said. "Shredding is fine, but eliminating a paper bill altogether is better."
That and other tips Javelin discovered during the survey led to the creation of the identity fraud safety quiz. The idea was to help consumers prevent identity theft and detect identity fraud, he said.
Monitoring account activity and balances on a daily basis, for example, can help consumers spot fraudulent charges made to existing accounts before they pile up, Neumann said.
Tracking down any new accounts that identity thieves have created, however, can be a bit tougher. The quiz recommends that you order credit reports on a regular basis, not just the one time per year you can get it for free. Neumann recommended doing it four times a year.
Signing up for a credit-monitoring service, which can cost $50 to $150 a year, also is a good idea, he said. Some financial institutions, such as the Navy Federal Credit Union, will give customers a discounted rate.
Some banks also are starting to offer customers who use their online services the option of getting e-mail alerts on activities that are known precursors of identity fraud, such as address changes and large transactions.
"We applaud banks that are 'deputizing' their customers to guard against identity theft and identity fraud," Neumann said. "By monitoring their accounts as often as possible, they can detect its early signs."
To reach CATHY JETT: 540/374-5407 cjett@freelancestar.com
