ID Theft Protection – What Role Do You Play?

More and more consumers are falling prey to identity theft. This is a worrying trend because it means that identity thieves are getting more adept at stealing information. Simple negligence on your part, like forgetting your wallet or your credit card, could be the cause of your financial ruin. ID theft is now easier to commit because of the advent of the internet but unfortunately, the laws to go after these criminals are still in their infancy, making it a very time-consuming and complex process for consumers.

As a consumer, it’s also your responsibility to guard your identity and credit to prevent criminals from invading your private space. Follow these simple steps to be protected.

Protect your mail – Your bank reports and credit card statements are targets for ID thieves so you have to safeguard them. Send letters or documents with sensitive info through registered mail. This is safer because the only person who can open it will be the recipient you specified. Lock your home mailbox to secure any incoming papers, especially if you regularly receive sensitive information through the mail. If you’re scheduled to go on a trip, request the post office to hold your mail for the meantime. Keep track of when your bills arrive to your house and if they don’t come on time, call your bank immediately to check if there is a problem.
E-commerce and banking – When using the ATM, make sure no one is standing behind you because they may be a “shoulder surfer” or someone who wants to take a picture or video of your ATM card number and PIN. As you enter your PIN, shield the keypad with your other hand and before leaving the ATM, make sure that the machine has exited your account. When transacting online, see to it that the bank’s website is secure and encrypted before you process anything. Secure sites should start with an HTTPS instead of the usual HTTP. If unsure, close the page and transact over the phone or at the branch instead.
Secure your personal information – Examine your credit report regularly to ensure no one has opened new accounts under your identity. If you are transacting with your bank over the phone, make sure no one is eavesdropping before you give out your personal information. If the conversation is being recorded by a third party, you might hear a slight echo or some static on the line. Drop the call and dial again if you have any doubts. Shred any financial documents before disposing them in the garbage bin to minimize your chances of becoming victim to “dumpster divers.” As the name suggests, these are people who dive into dumpsters hoping to find discarded documents they can use to steal your identity. As much as possible, limit the number of IDs you carry with you. Only bring the ones you absolutely need.
Confidential information must be kept private – Create strong passwords for your online accounts, computers and other devices. Memorize them and don’t put them into writing. Never disclose sensitive information over the phone or email to a person you don’t know unless you’re the one who initiated the contact. Give your social security number only when needed and to authorized individuals only.
Preparing for the damage – If your identity has been compromised, notify your bank and other financial institutions immediately. Check your credit right away to help you determine inaccuracies contained in your report. You should work to prevent any further damage to your credit rating.

View the original article here