Let’s blow out the candles and cut the cake!

Ten years ago, Identity Theft as we know it was officially recognized as a crime by the U.S. Congress.

In 1998 Congress passed the Identity Theft Assumption and Deterrence Act after years of consumer complaints, confusion and criminal behavior unlike any recognized up to that point. Incidents of Identity Theft had grown a hundred fold during those days and it was time for Uncle Sam to fight back.

The Federal Trade Commission was established as the primary agency to collect data and to lead the government’s fight against this newly recognized crime.

Even then, back in the 90′s, Identity Theft topped the list of complaints at the FTC. Most consumer advocacy groups reported higher numbers of incidents than the FTC logged due to several factors including under-reporting by victims.

I know first hand about under-reporting because I too fell victim to ID fraud and worried more about the immediate financial consequences than contacting the police. Not smart.

While lecturing at the National Crime Prevention Council’s annual summit recently, I was reminded in an after hours session with a veteran police detective from Seattle that most criminals leave something behind that could help identify them if reported.

Most criminals leave behind what investigators commonly refer to as a “signature”. Unless we report these crimes as they occur, the police won’t be able to recognize a familiar detail that could shorten the career of an ID fraudster for good.

While it is true that police agencies are overwhelmed with the number of cases they must investigate and help prosecute, it would be foolish to think that reporting the details of any incident won’t eventually pay off in the end. If you are a victim or you know a victim, report the crime immediately to your local police or sheriff and the three credit bureaus (Experian, Equifax and TransUnion).

Lets do all we can do make sure the authorities have the resources they need to get you back on the road to recovery. Document the details and report them immediately. Some agencies may not want to take the complaint, but you must persist until they do.

This crime has been referred to as the “self help” crime because the more you do for yourself, the deeper impact you will have on your own speedy recovery.

Stop wishing things were under control and start fighting back. Only then can we collectively blow out the celebratory candles.

Please keep your hands out of my pockets in 2008!

Welcome to my inaugural blog, but keep your hands out of my pockets in the coming year! I’m writing to identity theft fraudsters here, not merely the IRS. If you’re a like-minded hard working adult who intends to keep what you’ve earned safe from the nightmare of identity theft, then read on.

As 2007 wound down, the biggest story in newspapers and posts around the country this week (other than the early Presidential primaries and continued Middle East violence) is the irrefutable evidence that Identity Theft has grown by leaps and bounds in the past 12 months. This is despite the opinions of casual financial commentators to the contrary.

My goal here is to help make you dear reader, a smaller Identity Theft target in 2008 and beyond. Your family, friends and constituents can benefit from these strategies too!

According to an Associated Press release a couple of days ago, the non-profit Identity Theft Resource Center is reporting an all time record number of data breaches and losses in 2007, up significantly from the prior year.

This discouraging news comes as a reminder that 2008 presents itself not only with the optimism of new financial ventures and rewards, but new risks and responsibilities for those of us with anything of value to protect.

Social Security and credit card numbers in the U.S. have been vanishing faster than David Copperfield’s scantily clad assistants on a Las Vegas stage.

Although the financial security of the masses is in jeopardy like never before, there is good news. Together this year, we will explore specific, tested, effective and highly recommended strategies that the average person can put into place at little or no cost. The secrets and strategies I will share with you can have tremendous impact on the safety of your financial nest egg and your family’s “good name”.

A word of warning here. Don’t look for my analogies to magic and prestidigitation to end any time soon. Mountains of personal data and millions of dollars are literally vanishing faster than Criss Angel can say “sim sala bim”.

The good news is that with a modicum of attention, you will be able to peek behind the curtain and catch the trickster before he fools you. As an identity theft advocate, risk management expert and former professional magician, I look forward to being your guide. Stay tuned for regular posts, up to the minute news and practical advice.

Award winning Broadway songwriter and lyricist Stephen Schwartz penned these words for the Tony Award nominated musical The Magic Show: “Hey, wasn’t that illusion fun? Not if you know how it’s done!”