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What is "pretexting" and what does it have to do with identity theft?
Pretexting is the practice of getting your personal information under false pretenses. Pretexters sell your information to people who may use it to get credit in your name, to steal your assets, or to investigate or sue you. Pretexting is against the law.
Pretexters use a variety of tactics to get your personal information. For example, a pretexter may call, claim he's from a research firm, and ask you for your name, address, birth date, and social security number. When the pretexter has the information he wants, he uses it to call your financial institution. He pretends to be you or someone with authorized access to your account. He might claim that he's forgotten his checkbook and needs information about his account. In this way, the pretexter may be able to obtain other personal information about you such as your bank and credit card account numbers, information in your credit report, and the existence and size of your savings and investment portfolios.
Keep in mind that some information about you may be a matter of public record, such as whether you own a home, pay your real estate taxes, or have ever filed for bankruptcy. It is not pretexting for another person to collect this kind of information.
By law, it's illegal for anyone to:
- use false, fictitious or fraudulent statements or documents to get customer information from a financial institution or directly from a customer of a financial institution.
- use forged, counterfeit, lost, or stolen documents to get customer information from a financial institution or directly from a customer of a financial institution.
- ask another person to get someone else's customer information using false, fictitious or fraudulent statements or using false, fictitious or fraudulent documents, or forged, counterfeit, lost, or stolen documents. Federal Trade Commission Report
Some of the things that you will need to do if it does happens to you.
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Call your bank and/or credit card company
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Contact the three major credit repositories
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Go through the helpful but expensive steps recommended by the Federal Trade Commission in its 30-page consumer support publication
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Fill out and submit the affidavit form supplied by the FTC to dispute new, unauthorized accounts
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Spend on average $1,200 in out-of-pocket expenses and an average of 175 hours in your efforts to resolve the many problems caused by identity thieves
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What Is Identity Theft?