Identity Theft Prevention Tips

There are so many ways identity thieves can breach your security. Taking measures as outlined below, and being cognizant about habits, will go a long way in helping prevent identity theft. If you become a victim of identity theft, report it at once.

Some sobering statistics on identity theft for 2006:

• Average loss from identity theft: $6,383
• 4 out of 100 Americans had their identity stolen
• Identity theft cost Americans nearly $57 billion in 2006
• The average resolution time is 40 hours

Sources of identity theft (note that 63% of identity theft was from sources the consumer had control over).

• 30% - businesses (data breaches, bad employees, fraudulent transactions)
• 30% - lost or stolen wallets, credit/debit cards, and checkbooks
• 15% - trusted people (family, friends, coworkers)
• 9%  - stolen mail and rifling through garbage
• 9%  - computer related (viruses, phishing, hacking)
• 7%  - other

General

1. Only carry cards and IDs you need. Leave the rest at home.
2. Do not carry anything that has your Social Security number on it.
3. Look for strange charges on your bank or credit card statement.
4. Watch out for missing bills. details
5. Watch out for people looking over your shoulder.

Credit Cards

1. Check your receipts.  It is much easier to resolve problems immediately than later.
2. While standing in line do not leave it out in plain site. Someone can memorize or use a cellphone to take a picture of it.
3. Ask for your credit card back. It is easy to forget when you are in a rush.
4. Only bring required credit cards when shopping
5. Shred "convenience checks" your credit card company sends out.
6. Review your financial statements thoroughly
7. Review credit card activity frequently. Check online activity once a week
8. Review your credit report once a year
9. Close unused credit card accounts
10. Do not cosign with a friend or family member on a credit/debit card
11. Do not give anyone your credit/debit cards or PIN numbers
12. Never leave credit card receipts or carbons behind. Insist on taking the carbons, too
13. Never let your credit card out of your site (at restaurants, etc) details
14. Stop getting preapproved credit cards details
15. Maintain a list of all credit card accounts and emergency phone numbers
16. Credit scores between credit bureaus should be within 50 points of each other
17. Consider using a credit monitoring service to alert you when someone applies for credit in your name.
18. Consider lowering your credit card limit.

Social Security Numbers

1. Do not put your social security number on your driver's license or checks details
2. Do not carry anything in your wallet/purse with your social security number
3. Use alternate IDs rather than social security numbers whenever possible

Around the House

1. Use locking file cabinets for important papers
2. Invest in and use a good paper shredder.
3. Use alternate IDs rather than social security numbers whenever possible
4. Going on vacation? Put a hold on your mail at the post office.
5. Never give out personal information over the phone unless you initiate the call
6. Curtail mail theft by replacing paper bills with paperless (online) bills

Papers to Shred

Papers with personal and business information should be shredded.

• Credit card statements
• Bank statements
• Utility statements
• Tax-related information
• Preapproved credit card applications
• ATM receipts
• Paystubs
• Expired visas and passports.
• Cancelled or voided checks

Online

1. Watch out for fake mortgage brokers who gather your personal information
2. Watch out for emails wanting you to confirm account information
3. Watch out for emails posing as internet service providers asking for personal information

Computer

1. Watch out in wireless hotspots (airports, coffee shops, hotels, ...) because they are unsecure. details