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New York, Nov. 24, 2004 -While you're busy shopping for that perfect holiday gift, criminals are also searching for a one-of-a-kind item -- your identity.
Holiday shoppers should take special care to protect their identities from thieves, says the ÐÓ°ÉÔ­´´ Information Institute (I.I.I.). The increased spending during the holiday season provides more opportunities for criminals to steal your identity.

"The hustle and bustle of the holidays creates the perfect environment for thieves bent on stealing your credit cards or other financial information," says Jeanne M. Salvatore, vice president, Consumer Affairs, I.I.I. "Shoppers are tired, stores are crowded and it's easy to become less guarded about personal information such as credit cards, personal checks, driver's licenses and social security numbers."

Thieves steal personal information and use it to impersonate a victim, stealing from bank accounts, establishing phony insurance policies, opening unauthorized credit cards, or obtaining unauthorized bank loans.

According to the Federal Trade Commission (FTC), over 27 million Americans have been the victim of identity theft in the last five years, costing consumers over $5 billion in out-of-pocket expenses.

Victims of identity theft are often left with lower credit scores and spend months or even years getting credit records corrected. They often have difficulty getting credit, obtaining loans and even getting hired. According to the Identity Theft Resource Center, the average identity theft victim spends 600 hours to restore their identity.

"With so much increased spending, consumers should carefully monitor their credit card bills and bank balances to make sure that they actually made all of the purchases," says Salvatore. In fact, the FTC reports that 52 percent of all identity theft victims discovered that their identity was stolen by monitoring their accounts.

To protect your hard earned money this holiday season, the I.I.I. suggests you:

• Keep the amount of personal information in your purse or wallet to the bare minimum. Avoid carrying additional credit cards, social security card or passport unless absolutely necessary.
• When making purchases, guard your card. Shield your hand when using ATM machines or making long distance phone calls with phone cards. Don't fall prey to "shoulder surfers" who may be nearby.
• Always take credit card or ATM receipts. Don't throw them into public trash containers, leave them on the counter or put them in your shopping bag where they can easily fall out or get stolen.
• If you plan to do your shopping online, make sure that you are buying from a reputable retailer with a secure network.
• Don't rely on your credit card company or bank to alert you of suspicious activity. Carefully monitor your bank and credit card statements to make sure all transactions are accurate.
• Tear or shred any documents that have personal information such as credit card numbers, bank statements, charge receipts or credit card applications.

If you are the victim of a crime, report it to the store and police immediately. Ask for a copy of the police report. It will be useful if you decide to file an insurance claim or want to report the crime to the FTC for their assistance.

Victims of identity fraud can contact the FTC at 877-IDTHEFT or . Once a year, contact the major credit reporting agencies to review your file. The three major credit bureaus are: Equifax , TransUnion and Experian .

Theft of personal possessions is generally covered by homeowners and renters insurance policies, according to the I.I.I.

Consumers may also consider obtaining identity theft insurance. The policy provides reimbursement to crime victims for the cost of restoring their identity and repairing credit reports. Some companies now include coverage for identity theft as part of their homeowners insurance policy. Others sell it as either a stand-alone policy or as an endorsement to a homeowners or renters insurance policy. Identity theft insurance generally covers expenses such as phone bills, lost wages, notary and certified mailing costs and sometimes attorney fees with the prior consent of the insurer.

If you have any questions regarding insurance, contact your insurance company or representative. For a list of insurers who sell identity theft insurance, as well as resources regarding identity theft, you can access the I.I.I. website at .

The ÐÓ°ÉÔ­´´ Information Institute is non-profit, communications organization supported by the property/casualty insurance business.