Contributed by Shelly J.
Identity theft is still the number one complaint to the Federal Trade Commission and has been for the past 12 years; but the topic is not covered in the news as often as when it first became a problem. Last year alone, there were almost 300,000 complaints about identity theft. We all think that crime is something that happens to someone else, but it can happen to anyone. Here are five actions that can help protect your identity.
Shred. Going through the trash to steal credit card information still happens. There are even reports of groups who pay the homeless to turn in information. Cross cut shredders work best as it is too difficult to put the documents back together. A special slot designed to shred credit cards is a great feature.
Choose credit over debit. Debit cards do not offer as much protection if your identity is stolen. The limits for fraud protection are usually higher for credit cards. Credit cards have a liability cap of $50 and debit cards have a $500 liability cap. Credit card companies are also quicker to return the money to you while debit cards can take months. Use your credit card and pay it off every month.
Review your monthly statements. Most people do not balance their checkbooks but everyone should look at and review their statements thoroughly. If you notice large purchases or purchases from places you haven’t heard of or don’t remember, be sure to call up the company and check out the charge right away.
Store your financial information with care. I have a friend whose identity was stolen by his father and another whose friend stole important credit details. In both instances, there was delicate information (i.e., credit card, social security card) left out in the open. Store hard copies of your financial information in a safe place and don’t keep your social security card in your wallet.
Be careful of email scams. One friend opened an email and answered it thinking it was from his bank. While the email initially appeared to be legitimate, on further inspection, the web address was not the same as the bank. Turns out it was a fake email and my friend became a phishing victim. These types of scams happen so frequently that banks do not ask for account information via email anymore. Instead of clicking the link in the email, open a new tab and enter the web address in your browser. If there is a problem, your online account will have some form of notification.
What, if anything, do you do to protect your identity? We invite you to share your ideas in the box below.
Views and Reviews