Being a victim of identity theft can be extremely distressing. More than 13 million people in the United States were victims of identity theft in 2015, according to Javelin Strategy & Research, with the total fraud amount totaling $15 billion dollars. To decrease the chances of becoming a victim of this crime, there are safeguards you can put in place to help protect yourself.
1) Check your recent transactions and balance frequently.
The sooner you detect fraud, the easier it will be to limit its impact on your finances. Call your bank immediately if you see suspicious activity. The easiest way to monitor this would be to have online banking. Signing up for paperless statements will stop the possibility of having your account information taken from your mailbox.
If you prefer to receive paper statements, review your recent transactions via phone often and your monthly statements as soon as you receive them. Shred any physical bank statements and financial records that you dispose of to ensure a thief cannot take it from your trash. Collect your mail daily and, if you will be away for a few days, ask the post office to hold your mail while you are gone.
2) Protect your computer and computer usage.
Use a firewall, anti-spyware and anti-virus software on your computer and keep them up to date regularly. Use a secure network when conducting financial transactions online to avoid putting yourself at risk for thieves to capture your personal information.
Also, be careful of the personal information you post on social media sites. Thieves will look for any information, such as your birthdate, address and mother’s maiden name to collect information commonly used for “security” questions to access financial information.
3) Keep strong passwords.
Change your passwords frequently and avoid using obvious passwords such as birthdays and names, since they are easy to guess with simple searches online. Most sites recommend a minimum of eight characters and a mix of numbers or symbols.
4) Be careful of suspicious emails.
Scammers will take any opportunity to trick you into giving them your personal information, especially around tax time. If someone poses as the IRS, FBI, or a representative from a financial institution, do not give any personal information or click on any links within the email. Contact the organization directly to make sure it is legitimate. Also, it is important not to reply or click on “unsubscribe” links in an unsolicited email. This can let the scammer know that they have reached a live email address and may continue to keep you on their contact list. The best action to protect yourself would be to block the unsolicited email from further attempts to contact you and delete the email.
Scammers often pretend to be someone you trust, such as a charity, distant family member or a company you do business with. Do not send money or give out personal information in response to an unexpected request.
5) Protect your credit and debit cards.
Always shred credit and debit cards you are disposing of. If you receive a voicemail from your credit card company asking you to call them back, only return the call using the number listed on the back of your card. Another safeguard is to sign your credit and debit cards with “See ID.” This will force you to show your signature on your driver’s license or ID card. Also, when you make a purchase with a card that requires a pin number, shield the keypad.
6) Be aware of questionable websites.
There are signs to look out for when shopping online that will confirm that the page you are on is secure and your data will be encrypted. One is the "padlock" icon located at the top of your browser window and the other is "https" in the address bar. Also, beware if a website asks for a credit or debit card number “for identification purposes only.” There is no reason to share any card information unless you are actually making a purchase.
7) Do not assume your caller ID is correct.
Technology makes it easy for thieves to create fake caller ID information, so the name and number you see are not always true. Scammers can be very persuasive and try to pressure you into giving them your personal information. If you receive a call asking for any personal information, just hang up and block the phone number. If you think the caller might be telling the truth, call back using a number you know is genuine.
8) Do not carry vital personal information in your wallet.
Keep passwords, account numbers and social security cards in a secure area and do not carry this information with you in your wallet.
9) Do not pay in advance for a promise.
If you are asked to pay in advance for something such as debt relief, job offers, or mortgage assistance, then most likely it is a scam. They will probably take your money and never be heard from again. If you are contacted by someone saying you have won a prize, but first you have to pay taxes or fees, be wary that it is a scam.
10) Order your credit report annually.
A great way to ensure your financial and personal information has not been tampered with is to review your credit report on an annual basis. Review each account that is listed to ensure one was not opened under your name without your knowledge.
If you suspect, or have confirmed that you are a victim of identity theft, please review the following article, “Actions To Take If You Are A Victim Of Identity Theft”.
Carol Chaudet
Last Updated: 01/03/2017