Fortunately, there are precautions that consumers can take to prevent identity theft. There are simple ways in which to avoid becoming a victim of identity fraud and an easy way to remember them is the acronym SCAM. SCAM reminds us to 1. Be stingy when giving out personal information to others 2. Check financial information regularly and recognize when something strange has occurred 3. Ask for a copy of your credit report often, and 4. Maintain careful financial records. It is necessary to be aware of phishing and to always be cautious of giving your personal information out through e-mail, website or over the phone. Also be sure that the phone number, name and mailing address registered to your bank account is all correct as there are cases in which bank statements have been sent to false addresses and identities have been stolen. Check these bank statements regularly and be sure that there are no charges to your account that you do not recognize.