Protecting
Yourself from Identity Theft
Identity theft involves someone utilizing
your identifying information in order to acquire goods or
services in your name through the use of credit or debit cards,
checks, or other documents. In the worst cases, these identity
thieves make enormous unauthorized purchases.
By law, once you report the loss, theft
or fraud, you have no further responsibility for unauthorized
charges. In any event, your maximum liability under federal
law is $50 per card, and most issuers will waive the fee.
The bad news is that clearing up your credit records requires
significant effort and can take a year or even longer.
By monitoring your personal finances and
following the suggestions on these pages, you may be able
to prevent or minimize losses due to issues of fraud and identity
theft. It is important to act quickly, effectively, and assertively
to minimize the damage.
Identity theft is a considerable problem
for anyone, but is severely compounded by the rigors of military
life. Members of the Navy and Marine Corps are often deployed
to locations far away from family members and can be more
dependent on ATMs, credit cards, and other remote access financial
services.
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