Identity Theft and Prevention

December 22, 2009 – 2:01 pm

The best and only way to avoid being a victim of identity theft is to hold your personal information dearly and carefully. Minimize all chances of your information being stolen and misused by getting a firm grip over your personal data. Never be too confident of the measures that you have undertaken to prevent abuse of your information, always be on a look out and always be strict with your information.

Hunt for information

Identity thieves have mastered various techniques and antics to obtain personal information, most common of which are as follows:

Theft

The most common targets include purses, wallets, or mail

Garbage Sniffing

A grotesque act of going through your through your garbage at your home or location of business, in search of your personal information on discarded items.

Tricks and Pranks

Luring you into providing personal information especially online, through a website portal or by email.

Gathering information from employee files or from legitimate businesses.

Acting as a new creditor just to get a hold of your credit report.

Shoulder surfing. Looking over your shoulder in a public place, or eavesdropping on your phone calls and making note of it as you supply your personal information.

False promises of Prizes

Getting in contact with you by email or telephone and tricking you into believing that you have won something big and hefty maybe a prize or an award.The only condition they lay forward is that you provide them with your personal or financial information so they can send you that prize or award.

Risky Transactions

Many of the common day to day transactions can increase risk for identity theft. This is only to alarm you and not to say that these actions should be completely avoided but as they say precaution is better then cure. The same strategy applies here, you should exercise every precautionary measure to protect your personal and account information. Some transactions which can compromise security on your information are:

Online banking

Online purchases of goods or services

Discarding pre-printed credit card applications without destroying them

Storing personal information in your computer

Using a cellular phone

Using a wireless phone

Using your Social Security number for identification

Safeguarding Your Information

You can safeguard your personal information by being alert and aware of when and how you use that information, or provide it to others.

Your Social Security Number

Rather than writing it on a piece of paper and carrying with you memorize your number.

PIN Numbers

Rather than writing it on a piece of paper and carrying with you memorize your number. Avoid printing your Social Security number on your checks.

Passwords

Build a wall of passwords to protect your personal information and financial accounts. Passwords should contain both alphabetic and numeric characters and should be difficult for any body to guess. Avoid using personal date such as birthdays etc as a password.

Credit Reports

Obtain your credit reports periodically from the major credit bureaus and review them for information which does not belong to you or does not reflect your information.

Secure Your Computer

If you use a high speed Internet connection, it gets even more important for you to secure your computer by the use of a firewall and keeping your system updated to stop hackers from intruding your privacy and getting a hold of your personal information.

Email Inquiries

It’s always hazardous to provide your personal or financial information in response to an email based inquiry, and its simply reckless to send that information by email. If you believe a legitimate business of which you are personally sure of, has requested that information, go to their home page on their website to provide it. Type the URL into the browser yourself, do not follow any links in the email. Follow these guidelines to avoid any mishaps because most of the time you will find that, no matter how real it looked, the email was fake and was meant to SCAM you.

Email Attachments

Beware of suspicious email attachments, even if they appear to be from somebody you know. Use an anti-virus software, and keep it updated. An email attachment can turn out to b a worm or virus, which is designed to open a security hole in your computer so that others can later access your hard drive and obtain your personal information secretly.

Website Inquiries

It’s better not to provide any personal information online but if there is no other way do it through a “secure transaction”. You can tell if a page is secure because the “lock” icon at the bottom of your browser window will appear as a closed padlock. Also, secure URL’s usually start with “https://” as opposed to simply “http://”, with the “s” standing for “secure”. While not all businesses offer secure transactions, by now most of them do.

Telephone Inquiries

Never give out your personal or financial information on telephone, unless you initiated the contact and completely trust the institution or the person on the other end of the telephone.

Credit Card Applications

If you don’t intend to complete it, shred it or tear it into pieces before you throw it away..

Credit Cards

Sign your credit cards immediately after you receive them. If a new or replacement card does not arrive in a timely manner as you had expected, contact the financial institution and report the delay in its arrival.

Lost or Stolen Credit Cards

Never waste time in hoping for a miraculous return of your credit or debit cards on their own. Immediately report it to the concerned authorities. Statistically this should limit your liability to $50 for a credit card or $500 for a debit card. If your report is prompt enough Credit card companies could waive the $50 amount.

Credit Card and Bank Statements

Always keep a close watch on your credit card and bank statements for unusual activity.

U.S. Mail

Retrieve your mail ASAP after it is delivered rather then allowing it to unnecessarily accumulate in your mailbox. Use an offical mailbox for outgoing mail, don’t leave it in your mailbox for an extended period. If you are going to be away, (especially overnight or over a weekend) have the Post Office hold your mail or have it collected by a trusted neighbor or friend.

Retain Your Receipts

Don’t discard bank, credit card, or transaction receipts in public areas but if you have to, make sure that you have shredded it completely.

Personal Information

Before throwing a piece of paper that contains your personal information away make sure to tear or shred it up completely

Monitor Your Billing Address

If your monthly statement for a bank, credit card, or other account does not arrive on time as expected, immediately confirm your billing address with the issuing company. If you learn that the billing address has been changed or tempered with without your permission, immediately report that the change was unauthorized and that an unauthorized person may be utilizing your account without your consent.

Can you completely prevent identity theft?

Sadly it’s not entirely possible, especially if someone is determined to commit this crime. But the risk can be minimized by prompt and timely action against any attempts directed towards gaining your identity or information and by diligently protecting your personal information with extreme caution.

Identity Theft Online