Minimize Your Risk of Identity Theft

Turn on the news or pick up a newspaper and you'll probably find something about identity theft because it continues to be the fastest growing white-collar crime in the United States. Identity theft victims spend long periods of time and their own money cleaning up the mess than identity thieves have made.

You can minimize your risk of identity theft by taking the following steps:

1. Don't give out your Social Security number without determining if it's really necessary. Your employer and financial institution need your Social Security number for wage and reporting. Other businesses may ask for your Social Security number for general record keeping. Before giving your Social Security number ask the following questions:
   
   Why do you need it?
   How will it be used?
   How do you protect it from being stolen?
   What will happen if I don't give it to you?

Remove your Social Security card and any credit or debit cards you don’t regularly use from your wallet. Photocopy the remaining contents of your wallet. Keep the information in a secure and place in case your wallet is lost or stolen. Don’t have your Social Security number or driver’s license number pre-printed on your checks. The thing you want to think about is how many other people will have the opportunity to look at this information. The answer is that you have absolutely no idea.

·         Request your credit report free every 12 months from the three major credit-reporting agencies – Equifax, Experian and TransUnion. Carefully review your credit report to ensure all the accounts belong to you. The official online source to obtain free credit report is www.annualcreditreport.com .

·         Install a locked mailbox or get a post office box to guard your mail.  If you have an unsecured mailbox, promptly remove mail after it’s been delivered.  Deposit your outgoing mail in post office collection boxes. Leaving your outgoing mail in your mailbox with red flag up is telling identity thieves “I’m here and ready for you to steal me”. 

·         “Opt out” and remove your name from the marketing lists of the three major credit-reporting agencies. Call (888) 567-8688 or visit www.optoutprescreen.com .  It only takes a few minutes and drastically reduces unsolicited mail.  You’ll have the option to Opt-out for five years or permanently. Identity thieves use pre-approved credit offers to obtain credit cards and make purchases.

·         Dumpster diving is disgusting, but it’s also a common method of identity theft.  Always shred your unsolicited credit card offers, credit card receipts and any other sensitive documents. Use the newer style cross-cut shredder that makes “confetti” instead of the “spaghetti” style shredders. Identity thieves have been known to piece together “spaghetti” shredding.

·         Missing credit card statements might mean an identity thief is using your account and diverting mail to another address to cover his tracks.  Carefully review your monthly credit card statement to ensure there aren’t any fraudulent charges.  I’ve had this happen to me twice. And, although they weren’t large amounts my credit card account was compromised.

By taking the steps outline above you'll protect yourself from becoming a victim of identity theft. Manage your personal information wisely, cautiously and with an awareness of the issue.

Warmly,

Marcia

Comments

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[Erin Pauley]

Marcia,
There are actually 5 types of ID Theft. The financial piece is only 26% of the real issue. Medical, this form can actually be fatal! Criminal, where someone poses as you and actually commits a crime. Social Security, where they get a job, collect the pay and don't pay Taxes. Drivers License where they use your Drivers license and perhaps continue getting DWI's, now in your name! this is more serious than people know.