Protect
yourself from
identity theft
First,
the bad news:
There’s still
plenty of identity
theft out there.
Now, the better
news: There’s
not as much
as in previous
years. And now,
the best news:
You can do a
lot to protect
yourself from
being victimized.
If
you’re not familiar
with the concept
of identity
theft, it basically
involves someone
getting some
pieces of information
about you–name,
Social Security
number, credit
card numbers,
“pre‑approved”
credit card
offers–and using
this data to
make purchases
or withdraw
funds from your
accounts.
In
2006, some 8.4
million Americans
were hit by
identity fraud–but
that’s half
a million fewer
victims than
the year before,
according to
a study conducted
by Javelin Strategy
& Research.
The study also
found that,
in 2006, the
average victim
of an existing
account fraud
paid $587, out
of pocket, in
consumer costs
associated with
the fraud, while
victims of new
accounts opened
in their name
paid, on average,
$617.
The
overall decline
in identity
theft may indicate
that more people
are acting to
protect themselves–but
the average
cost per person
shows that fraud
victims still
can get hurt.
How can you
reduce the chances
of being victimized
by identity
theft? Here
are some suggestions:
·
Shield
your credit
card from prying
eyes and ears.
Thieves can
now use camera
cell phones
to take photos
of your credit
cards while
you’re making
purchases. Don’t
pull your credit
card out from
your wallet
or purse until
the moment you’re
going to use
it, and put
it away after
it’s used. If
you’re making
a contribution
over the phone
to a political
or non‑profit
group, don’t
give out your
credit card
number unless
you’re sure
the organization
is legitimate.
·
Use
secure sites
when shopping
online. Before
giving out your
credit card
number to make
a purchase on
the Internet,
make sure you’re
on a secure
site–one that
begins with
https://. (The
“s” stands for
“secure.”) Also,
the site should
display a small
lock or other
security seal.
·
Shred
those documents.
If you are purging
old investment
statements,
tax returns
and bank documents,
use a shredder.
And while you
have the shredder
out, use it
on pre‑approved
credit card
offers.
·
Go
“virtual.” Try
to replace paper
statements–from
banks, financial
services providers
and credit card
issuers–with
online versions.
Many businesses
will be quite
happy to save
the cost and
expense of mailing
account statements
to you.
·
Check
your bank statements.
Whether you
get your bank
statements online
or on paper,
check them at
least a few
times a month.
If you find
a transaction
that looks unfamiliar
or questionable,
call your bank
to find out
more details.
·
Get
your credit
report annually.
To request a
copy of your
credit report,
you can call
the three main
credit bureaus:
Equifax (800‑685‑1111),
Experian (888‑397‑3742)
and Trans Union
(800‑888‑4213).
Check your report
closely for
“surprises”
or unaccounted
activity.
·
Guard
your personal
information.
Don’t carry
around your
Social Security
card in your
wallet. In fact,
unless it’s
truly necessary,
as when you’re
filing official
papers, don’t
give out your
Social Security
number. Also,
change the PIN
number on your
cash card once
in a while.
Identity
thieves are
clever. So,
do whatever
it takes to
keep them out
of your life.
