Statitics show that there were 11.6 million victims of identity theft fraud in the U.S. in 2011. This was a 13% increase from the previous year (Javelin Strategy & Research). The only good news about this study is that the dollar amount stolen remained steady in spite of the drastic shift upward in number of victims. What can you do to protect yourself from becoming a victim? Start by looking carefully at your online activity, snail mail and conversations.
Protect your Online Activity
- Watch out for links provided in email – never click on a link given in an email as it may contain a virus that can contaminate your computer and steal your information. Ignore or delete these messages.
- Passwords – create strong passwords, change them often and never let websites auto-save passwords.
- Financial accounts – connect to your financial accounts only from your own computer or secure Wi-Fi locations. Do not access these accounts in an airport or other public place using public Wi-Fi. Regularly monitor your financial accounts for charges you didn’t make.
- Online shopping – shop with merchants with authenticated payment programs such as Verified by Visa and MasterCard SecuraCode.
- Use privacy settings on all your social media sites to control who can see your information. Better yet, don’t reveal any personal information on social networking sites.
- Be smart about your posts – don’t reveal that you are on vacation, publish birth dates, email addresses, mother’s maiden name (or any of your typical security question answers), or any other personal information on social networking sites.
- Firewalls and Antivirus software – make sure your computer and wireless router are protected and up to date to catch viruses, hackers, spyware and crimeware.
- Opt out of receiving unsolicited emails by registering at www.dmachoice.org.
Protect your Snail Mail
- Online statements – use online bill pay whenever possible and request online statements. Enroll in direct deposit.
- Phone book – remove your name and address from the phone book.
- Locked mail box – install a locked mail box at your home or use a post office box or commercial mailbox service such as The UPS Store.
- Personal Checks – never use your Social Security Number, phone number, or driver license on your checks. Insist retailers do not write this information on your checks at the time of purchase. If they do, choose to pay with another form of payment. When ordering new checks from your bank ask them to be sent to the bank and you can pick them up there, instead of your home mailbox.
- Do not leave bills being paid by check in your mail box for delivery. Mail them at work or at the post office.
- Hold mail – if you are away from home ask your post office to hold your mail if a trusted neighbor is not available.
- Shred all mail that comes to your home after you are done with it. Invest in a micro-shredder or cross-cut shredder for the best security.
- When moving forward all mail.
- Social Security card – never carry the card or number in your wallet or purse. Never leave your wallet, purse, cell phone, mobile device or laptop unattended in public places.
- Opt out of preapproved credit card offers by calling 1-888-5OPTOUT. You will be asked for your Social Security Number.
- Sign up for the Direct Marketing Association (DMA) Mail Preference Service. Your name is added to name deletion lists used by nationwide marketers. Write to Direct Marketing Association, PO Box 643, Carmel, NY 10512 or opt out online at www.dmachoice.org (there is a $1 fee for either method).
Protect your Conversations
- Refuse to give personal identifying information to anyone who asks for it over the phone, including phone surveys and solicitors. Keep in mind that the IRS, your bank, and credit card companies already have this information and they will not ask for it over the phone. If you are asked to provide personal information, tell the caller that you will call the company back at a publicly published phone number to confirm that the inquiry is legitimate.
- Do not say, or let anyone else say, your Social Security Number in public.
- Watch out for “shoulder surfers” who use binoculars, video or camera phones to capture your information.
- Unsolicited phone calls – do not provide any personal information to unsolicited callers and don’t act on it
- Secure mobile device data (email, etc.) stored in your phone with encryption software.
- Sign up for the FTC’s National Do Not Call Registry at donotcall.gov.
These tips are a great starting point to prevent becoming a victim of identity theft. It pays to be vigilant and always be aware of your surroundings and who is reaching out to you. Use extreme caution with your parents to ensure they are aware of these preventative tips and stay protected. For elderly parents you may want to keep a much closer eye on their mail and phone conversations as these are typically their primary means of communication. See our prior post on IRS Tax Scams to learn more about protecting your tax identity. Alternatively, Contact Us to learn more.
Sources: Wells Fargo “Protect Yourself From Identity Theft” and Javelin Strategy & Research.
