5 Tips For Identity Theft Protection

 

This is the time of year when we all start receiving emails from people attempting to steal our secret codes and passwords. "Your Account Is About To Be Closed," "There Is A Block On Your Account," "Could You Help Me Claim My Funds," or my personal favourite, "Congratulations – You've Won The UK Lottery," are examples of subject lines.

 

This is the time of year when we're all out shopping for gifts for friends and family, and the last thing we need is our bank or credit card account to be hampered. That is just what these "cyber crooks" hope for, and regrettably, some of us are tempted to explore the instructions sent.

 

DON'T FOLLOW THE INSTRUCTIONS IN THE EMAIL FIRST AND FOREMOST! If you suspect a problem, log into the account in question as you normally would on your PC, rather than using the URL provided in the phoney email.

 

I've received some extremely convincing-looking emails purporting to be from banks, down down to the colors of the bank logo and stationery style. But don't be taken in by the con. In fact, don't even read the email; many are pre-programmed to install a virus program on your computer when it is opened. Simply forward the suspicious email to your bank's or credit card company's "spoof email" address.

 

Nearly 10 million Americans fell prey to identity theft last year, costing businesses and individuals billions of dollars.  Here are some other tips to help you:

 

1. Know the dangers of using a debit card.:  Liability is higher than that of credit cards. Debit cards entail a far higher personal liability than credit cards when it comes to fraud, depending on how promptly you notify the loss of the card. If you don't report unlawful use within 60 days of receiving your bank statements, you risk losing your whole account balance and being held liable for the amount deducted from your line of credit.

 2.Make the switch to the virtual world.:  There are "virtual" card numbers for internet purchases. These are disposable credit card numbers generated at random , used once and then discarded by online shoppers. It's immediately linked to your genuine credit card account, so purchases appear on your monthly statement. The service is simple to use — and it's completely free! All you have to do is register with one of the virtual card providers, which include MBNA, Discover, and Citigroup.

3.Consider rewriting your checks.:  That tiny piece of paper has far too much information. Check writing is frowned upon by some experts since it divulges your address, bank account information, signature, and driver's licence number to complete strangers. Furthermore, there is no federal law that limits your liability for fraudulent checks (each state has its own set of rules). Experts recommend that you consider automating your bill payment process.

 4.Keep your mail safe.: Your inbox is a treasure trove of information. Your inbox is stuffed with personal information that identity thieves can use to simply apply for a credit card in your name, thanks to bank statements, invoices, and all those pre-approved credit card offers. 

You might not even be aware of it unless you check your credit report regularly.

 One way to avoid this is to keep your mailbox under lock and key, however most of us in Santa Clarita have our mailboxes at the curb in front of our homes, and the postman dislikes bringing around dozens of keys. 

Another option is to rent a mailbox or to protect yourself from "dumpster-diving" robbers by purchasing a shredder and shredding documents before discarding them.

 

5. Make sure you have an emergency identification kit.: In the event of an emergency, would you be able to reach the bank that issued your credit card?

5. Prepare an emergency kit with the following information for each of your credit or debit cards: account number, expiration date, name of issuing firm, and emergency contact number. In the meantime, create copies of your driver's licence and social security card, as well as your birth certificate and passport, and keep them in a safe deposit box or locked filing cabinet. When it comes to protecting your valuables in the event of a natural disaster, I prefer a safe deposit box.

It is possible that all of this seems like a lot of work that is not necessary; nevertheless, if you are ever the victim of identity theft, even just once, you will understand that it is well worth the effort to take these precautions.

 Conclusion:

Many of us forget that if we can't speak due to injury or aren't accompanied by someone who knows us, we're all John and Jane Does if we don't have anything in our wallets or handbags. 

How much less stressful is it to know that there are objects that can authenticate your identification in a bank box, no matter where you are? It's always better to be safe than sorry!

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