Recently seven people in US District Court in Hammond admitted their role in an identity theft plan that rang up $400,000 in unauthorized credit card purchases from 1998 to 2004. How they were able to do it?
They used to collect people personal data from a car rental desk at O'Hare International Airport and used that date to obtain credit cards by other people names. This show how easy identity theft can be.
But now a new Indiana law will frustrate thieves to use Hoosiers' good names and credit to rip them off. The law works on the concept:
It lets consumers freeze or block third party access to their credit report unless the consumers want to release them. So freezing of your credit report will stop criminals from obtaining credit by your name.
When you request for a freeze to your credit report to the credit reporting agencies, they will send you a unique PIN (personal identification number). This PIN will allow you to release the freeze on your credit report when you want to apply for credit. By Indiana law, placing a security freeze will not hurt your credit rating.
As Indiana Attorney General Steve Carter says, "I anticipate this will be a welcome tool for many people, and it gives Hoosiers an advantage in protecting themselves from financial and other fraud."
Complete instructions are available on their website www.aarp.org/in or consult the attorney general's Web site; www.IndianaConsumer.com
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