Americans are facing many things these days that cause them to fear – terrorism, a sluggish economy, a weak job market, inflation, high unemployment rates – but for many, the greatest fear is caused by the possibility of an attack on their personal and financial privacy.
Shielding your information with no risk is next to impossible these days, but it is critical for you to understand how your information can be compromised and the consequences of such a breach. You also need to understand the simple steps you can take to better the odds in your favor.
Some of the most common ways identity thieves obtain your information include mail theft and phishing. Thieves will steal your mail and use the information they find to apply for loans, jobs and credit cards. They’ll even rent apartments, commit crimes and obtain cell phones in the name of their victims.
Phishing involves sending e-mails that look legitimate to unsuspecting consumers online. When the consumer clicks on the e-mail, they’re asked to input their personal information, or malware is downloaded to their computers, which then provides the thief with all the information he needs.
Thieves also hack into databases and steal personal information like birth dates, bank and credit card numbers, and Social Security numbers.
There’s no iron-clad protection that can guarantee you’ll never fall victim to some sort of identity theft. But you can take steps that will help protect you.
• Destroy private records and statements. Shred any documents that contain your personal information.
• Secure your mail. Empty your mailbox each day promptly, lock it or get a post office so criminals don’t have a chance to snatch pre-approved credit offers. Don’t mail outgoing bill payments and checks from home; mail them from the post office or another secure location.
• Safeguard your Social Security number. Never carry your card with you, or any card that many display your number, like a health insurance card. Don’t put your number on your checks, either.
• Don’t leave a paper trail. Never leave ATM, credit card or gas station receipts behind.
• Never let your credit card out of your sight. Always keep an eye on your card to avoid skimming, the practice used by thieves to obtain your credit card number by running it through a scanning device.
• Know who you are dealing with. Whenever anyone contacts you asking for private identity or financial information, don’t respond except to find out who they are, what company they represent and the reason for the call. Confirm with the company before giving out any of your personal data.
• Be defensive with your personal information. Ask salespeople and others if information like a Social Security number or driver’s license is absolutely necessary. Ask what their privacy policy is and whether your information will be shared.
• Monitor your credit report. Obtain it at least once a year and review it thoroughly, checking for any unauthorized items. If you find any, contact the creditor immediately.
• Check your credit card statements carefully, and contact the issuer if there are questionable charges.
