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Tips For Protecting Yourself From Identity Theft
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Your bank statements, credit card reports, email, and social security number (SSN) hold tremendous value for identity thieves. This is a more common problem than people expect. However, there are safety measures you can take in order to protect yourself from the discomfort of identity theft. In this guide we provide tips that could save you a lot of inconvenience.
Your bank statements, credit card reports, email, and social security number (SSN) hold tremendous value for identity thieves. This is a more common problem than people expect. However, there are safety measures you can take in order to protect yourself from the discomfort of identity theft. In this guide we provide tips that could save you a lot of inconvenience.
Protect Your Social Security Number at All Costs
Your social security number is the key to your personal information. Don’t carry your card with you. Shred any papers that contains your number. Be wary of anyone that asks you for it, (or at least ask why they need it). If your social security number falls into the wrong hands, your personal information is at risk. You can change almost anything except your social security number – try to protect it at all costs.
Look at Your Mail
Your physical mail holds a lot of value. Your bank and medical statements are there. Your SSN is likely on some of the documents you receive. Stolen mail is probably the easiest way to steal someone’s identity. However, there are solutions for this: You should consider an approved, lockable mailbox. You can also subscribe to USPS’s Informed Delivery service. This service gives you a digital preview of your mail before it arrives, which helps you notice if something is missing. Another warning sign: if you receive past-dues or collections notices in your mail, they could be signs of identity theft.
The Shredder is Your Friend
Credit card and bank statements have a lot of value. Don’t leave yours in the garbage or the recycling bin – it’s very easy to steal your private information from the dumpster.
Have Strong Passwords
There are many password services available. If you choose one of these services, you will have one master password that you use. The service will choose random passwords for any site or subscription you have. Many sites sell your personal information so using the same password for every site is highly inadvisable. At least, use different passwords for sites you don’t trust. Data breaches are more common than you think, so your passwords could fall into the wrong hands. Your Netflix password isn’t as valuable as your bank password, so make sure they are not the same.
Monitoring
Make sure you monitor your credit reports and financial and medical statements. Strange charges or small changes to your accounts could mean that someone has stolen your identity. Make sure you have approved any changes to your bank account.
Freeze or Lock Your Credit
Freezing your credit with any of the three major reporting bureaus blocks any access to your records. This is an extreme (and free) measure you can take in order to limit access to your personal information. However, it means that if you want a new credit card or loan you need to unfreeze your credit. A more subtle step is to use an identity protection service. These services mainly alert you once your personal information is being used by anyone without authorization. However, they have many additional features to protect you.
Companies like LifeLock, Identity Guard and PrivacyGuard offer identity theft protection services that start from $8/Month. This is a great insurance policy in case your information will leak. The faster you will act the lower the damage will be. Since the cost isn’t too expensive, it could be a great option for anyone.
Summary
If you use public WiFi or pay with your credit card in stores, you cannot be 100% protected from identity theft. A waiter can easily take a photo of your credit card. Public WiFi or Bluetooth connections also jeopardize your personal information. However, you may need to use your credit card or connect to WiFi in public places. Even Jeff Bezos got hacked. Try and protect yourself as much as possible from identity theft. However, if someone really wants to steal your identity it is extremely difficult to protect yourself. Monitoring your financial and medical statements is key for early diagnosis of the problem. Change your passwords every other month and do not give your PIN or SSN to anyone.
