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How to Protect Yourself From Becoming a Victim of Identity Theft

Friday, November 2nd, 2007

What could be worse? You apply for a new car loan and strangely you are declined. What is going on? You have always paid your bills on time, paid off all your previous vehicles, and never missed a mortgage payment. Yet somehow your credit does not warrant a car loan. Upon further investigation, you find that your credit report shows six different credit cards and charge accounts, all in default for non-payment. How can this be?

You are the victim of identity theft. Someone had gained access to your personal identification information and used this to acquire credit cards and charge accounts. Your financial life appears to be ruined! You wonder what you could have done to protect yourself.

Guarding Yourself From Identity Theft at Home

There are several simple things you can do to safeguard your personal identification information in your home. Criminals are devious and will go to great lengths to get the information they need to manufacture their crimes. An extremely important, yet easy way to protect yourself, is to buy a cross cut paper shredder (cross cut shredders cut the paper both ways instead of into strips that can be placed back together). Shredding all papers that include any of your personal information is vital to protecting yourself. Individuals that engage in id theft crimes will often search dumpsters for identifying information. Documents to be particularly careful of:

bank statements
bills
credit card receipts
insurance forms
physician statements
credit card offers or other junk mail with your name and address on it

Another way to protect yourself is to carefully look at your credit card and bank statements instead of just glancing over them. This is often the first place unauthorized activity will be noticed. Do not give out personal information over the telephone or internet, unless you are the one that initiated the contact. Criminals will often pose as bank representatives, insurance providers, credit card companies, etc., all attempting to glean information from you. Only use a locked mailbox for incoming and outgoing mail, and place a hold on your mail when you are on vacation. Thieves will often steal mail to obtain the facts needed to commit their crimes. Call your credit card company if a bill or statement is late - this could be an indication your address has been changed on an account.

When making large purchases, be sure to compact your boxes the merchandise came in and turn them inside out – offenders may associate big purchases as a sign of wealth. Consider taking your address out of the phone book - in some cases, all a thief needs is your name, address, and phone number in order to commit fraud. Perpetrators of identity theft are not always strangers. Sad as it is, always keep papers containing personal information out of sight, away from friends, neighbors and even family members.

Defending Yourself From Fraud While Away From Home

Even after all you have done to protect yourself at home, a criminal can still victimize you. It is vital that you continue to be conscious when out in public. NEVER carry your social security card on your person! If a thief gets hold of your social security card, the results can be devastating. Only carry the credit/debit cards with you that are regularly used. Cancel those cards that you do not use anymore – make sure you tell the institution to make note the “card was canceled by customer.” If someone is standing near you when using an ATM or when using a card in a store; use your hand to cover the key pad when you are typing in your pin number. Do not, under any circumstances, leave your pin number in the same location as your card. Gaining access to your pin numbers is the easiest way for a crook to commit a crime against you.

Even with all the fears of your privacy online, having your wallet or purse stolen is still the most common way to have your identity stolen. Wearing your purse across your chest and shoulder makes it more difficult for it to be stolen. Do not leave your purse in a shopping cart, and be conscious of where it is when unloading groceries into your car. Try to avoid placing your address, telephone number or driver license number on signed credit slips. Keep your receipts with you at all times and store them in a safe place when you get home.

There are few things more troubling than having your identity stolen. Being mindful of these tips will significantly decrease the likelihood that you will become a victim. Contrary to popular belief, most sources of identity theft are not computer related. It does not matter how much money you actually make - a criminal only needs someone with good credit to start his rampage. Deliberate, consistent measures taken will be your best protection.

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