Protect Yourself From Identity Theft

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Identity theft is a type of fraud where a scammer uses another person’s identity for the purpose of stealing money or other benefits. According to a 2007 study, as many as 8.4 million people in the U.S. have become victims of identity theft. That’s over 23,000 Americans every day. Identity thieves steal more than your money. They destroy your peace of mind.

Here are eight tips that will help you avoid becoming a victim of identity theft.

Shred It

Identity thieves find many of their victims simply by doing some dumpster diving. They rifle through trash to find bank statements and other paperwork that has your personal information on it.

Invest in a cross-cut shredder and shred all paperwork before throwing it in the garbage. Even junk mail with just your name and address on it could be what a scammer needs to make you the next casualty of identity theft.

Upgrade Your Mailbox

Scammers also target your mailbox as a way to steal your identity. Theft of mail ranks high on the list of ways thieves get a hold of your personal information. Ward off criminals by installing a locking mailbox that only allows mail to be deposited. Take all outgoing mail directly to the post office.

Leave Documents at Home

Do not carry around important documents like your social security card unless it is needed. It’s also a good idea to keep all but the most necessary credit cards at home. You will have less to worry about if your wallet or purse is stolen.

Safeguard Your Personal Information

Since most identity theft is committed by people known to the victims, don’t tempt potential identity thieves by leaving bills or bank statements lying around when you have company. Put them in a private, inaccessible place such as a locked safe.

Check Your Credit

The best investment you can make in the war against identity theft is to sign up for a credit monitoring service like TruCredit. Most people don’t realize that someone has stolen their identity until 3 to 4 months after it happens. By then the damage has been done.

Make a habit of checking your credit report often and quickly investigate any suspicious activity that pops up.

Beware of Phishing Scams

If you have an email account, chances are you have already been attacked by Phishers. These scammers send out emails that that look like they are from legitimate financial institutions; only they’re not. Usually these scam emails claim that the bank needs you to update your account. However, if you click the link in the email, it will redirect you to a fake website that will harvest your financial information.

Do not click on any links to any financial institutions in any emails. Instead, type the address in your browser. Even if you think the email is legitimate it’s always better to be safe than sorry. Additionally, always clear out website cookies before closing your browser to prevent others from possibly accessing your account.

Be Password Savvy

Don’t make identity theft easy for criminals by using passwords that are easy to guess. For maximum security, use a mix of upper and lowercase letter interspersed with numbers. Either memorize your passwords or keep them in a secure place. Most importantly, change them often.

Safeguard Your SSN

Your social security number is the epicenter of your identity. With this identity thieves can access information about you that even your mama don’t know. Never give your social security number out to anyone unless you know who they are and what they are using it for.

Identity theft can take thousands of dollars and countless hours of your time to get resolved. Do yourself a favor and guard your personal information like it was the Holy Grail. The best way to fight identity theft is by preventing it from happening in the first place.