Preventing Identity Theft
The Do’s and Don’t's – Preventing Identity Theft Financial Ruin
Anyone who has ever been a victim of identity theft can tell you what a nightmare it can be. Your credit rating can go down the tubes in no time, and your sensitive financial information will fall into the hands of criminals who will have a field day by performing all kinds of unscrupulous acts, including emptying your bank accounts. If you don’t take any measures to protect yourself against these thieves, it could take years for you to recover and to restore your good name. With approximately 10 million Americans becoming victims of identity in the last year alone, resulting in losses of about $5 billion, this is a problem that is not going away anytime soon.
In fact, as the Internet continue to expand, the problem is sure to continue to get worse. You must take every precaution to protect your most valuable sensitive information, such as your banking information, your social security number, and other personal information. If your credit cards are stolen, it is imperative that you call the issuer immediately and have them canceled. It is much easier to replace the card than to repair the damage cause by criminals who get their hands on them. When it comes to your trash, to prevent “dumpster divers” from getting hold of sensitive information, a 7-sheet crosscut paper shredder will eliminate the problem.
You must also be very careful of the possible dangers involved from receiving unsolicited junk mail. and since much identity theft occurs online, here are some extra precautions below you need to take to protect yourself on the Internet.
DO:
1. Order a copy of your credit report each year from one of the national credit bureaus and review it closely for any questionable entries.
2. Shred or cut up all credit card receipts and old bank statements and bills before throwing them away.
3. Close all unused credit card or bank accounts.
4. Remove your name from mailing lists for pre-approved credit lines and telemarketers.
5. Keep your PIN number hidden when you use an ATM or public telephone.
6. Contact your creditor or service provider if you notice odd charges or if expected bills don’t arrive.
7. Update your computer virus software, use a secure browser, and install a firewall program.
Don’t:
1. Give out personal information via the phone, mail, or Internet unless YOU initiated contact.
2. Carry information like your Social Security Number (SSN) or any PIN numbers or passwords in your purse or wallet.
3. Put your SSN on your checks or other identifiers.
There’s no such thing as too much security when it comes to your good name, do whatever it takes to protect your sensitive information.