Info for Consumers
		Privacy
		Advice@American Express
		Tips, Tools &
		Information
		Consumer FAQs

Advice Archive by date

Advice Archive by topic

A Caution From the Federal Trade Commission About Guarding Social Security Numbers

The Federal Trade Commission (FTC) has posted a Consumer Alert on its website warning that an e-mail headed “end distribution of your Social Security number (SSN) etc.” is “a prime example of ‘Don’t believe everything you read.’ ”

This e-mail has been out there in cyberspace for about six months, moving from computer to computer as recipients followed its instructions to “pass this message on to all in your address book.”

It begins with these words: “Just wanted to let everyone know who hasn’t already heard, the four major credit bureaus in the U.S. will be allowed, starting July 1, to release your credit info, mailing addresses, phone numbers…to anyone who requests it.” Consumers could prevent this in time, it said, by calling 1-888-567-8688 and supplying their Social Security numbers.

In its Consumer Alert, the FTC points out that:

• It isn’t possible for “anyone who requests it” to get your credit information. Under the Fair Credit Reporting Act, credit bureaus can release your credit information only to people with a legitimate business need – for instance, companies to which you have applied for credit, insurance, employment, or to rent an apartment. Lenders and insurers may also use information in your credit file as a basis for sending you unsolicited offers – a practice known as prescreening. The toll-free number provided in this e-mail allows consumers to “opt-out” of prescreened offers by major credit bureaus only.

• Consumers must be notified about privacy policies. Under the Gramm-Leach-Bliley Act, financial institutions are required to send notice about their privacy policies and provide a way for you to opt-out of their information-sharing practices by July 1 each year. If you haven’t already received them this year, be on the lookout for these privacy notices because the deadline is nearing again.

• Don’t ignore the cardinal rule of privacy protection. Never give out your SSN or any other personal information without a very good reason. In a column in March 2000, Advice@American Express first discussed the importance of protecting your privacy. Since then, the public has become increasingly aware of the dangers of identity theft – both the subject itself and the stories of victims of identity theft have been widely discussed in print and electronic media.

These communications repeatedly tell you not to give out your personal information, particularly your SSN, on the phone, through the mail or over the Internet unless you know the person asking for the information. Identity thieves might pose as a representative of some organizations (banks, Internet service providers and even government agencies) to get you to reveal your SSN and other identifying items. Remember, legitimate organizations with whom you do business have already collected the information they need and will not ask you for it again.

The FTC website can provide additional information about identity theft.

June 20, 2002

Copyright (c) 2000 American Express Company. All Rights Reserved. Users of this site agree to be bound by the terms of the American Express Web Site Rules and Regulations. View Web Site Rules and Regulations and trademarks and Privacy Statement of American Express. See Corporate Entities and Important Disclosures for additional information about the American Express entities who offer products and services on americanexpress.com. American Express Brokerage is offered by American Express Financial Advisors Inc., Member NASD and SIPC. American Express Company is separate from American Express Financial Advisors Inc. and is not a broker dealer.