According to the Federal Trade Commission, identity theft is the most reported form of fraud. Identity theft and mail theft go hand-in-hand. While identity theft can involve the Internet and world wide web, most criminals don't rely on technical savvy to steal personal information. They simply look for lost wallets, burglarized mailboxes, or improperly disposed of hardcopy records.
In 2008, Javelin Strategy & Research held a survey online to monitor trends in identity fraud. One of the important issues of the survey was identifying how identity theft was initially accomplished: out of the 35% of victims knew how information was taken, more than 75% said it involved a physical method (lost wallet, phone sale, stolen mail, etc) compared to 14% that indicated online methods (phising, e-mail scams, etc.)
"Criminals don't have a bias toward technology. They will use any channel that works." James Van Dyke, president of Javelin Research.
To protect themselves against identity theft, consumers need to understand effective (and simple) methods of protecting themselves. This can include using free anti-virus software on your computer, locking your mailbox, and simply education for better safety.
Here is a list of ways to help protect yourself against mail and identity theft:
1- But a cross-cut shredder. Take any financial and personal information documents and make sure that your information is not accessible when you get rid of it. This includes old billing statements and pre-approved credit applications. Also keep track of credit card receipts as some merchants print your information on them.
2. If you work in a business that creates documents, take the responsibility to protect your clients by destroying documents before leaving them. For a business, identity theft can be just as damaging as personal identity theft.
3. Be aware of your Credit and Debit cards. "Number Thieves" sometimes use cell phone cameras to take a record of your number while using it at grocery stores or restaurants. An easy method of protection is to lay your card face down while waiting for the bill.
4. If you request a new credit card in the mail, make sure to keep track of when you receive it. If you do not see the card in an appropriate time- contact the issuing organization and have it cancelled and resent.
5. Do not keep open credit cards that remain unused and unmonitored. If you do not intend to use a card, keep an eye on the account or cancel it.
6. Put passwords on all your accounts and do not use common terms and avoid using your mother's maiden name. Make up a fictitious word.
7. Confirm how your personal information is stored and protected by businesses you interact with. Ask financial institutions, doctors' offices, etc., what they do with your private information and make sure that they dispose of it properly.
8. Do not carry your unneeded information! Remove excess credit and ID cards from your wallet and purse. Do not carry any information you do not need and use on a daily basis.
9. Confirm why your social security number is needed on any application, and how that information is used and protected after you release it to someone.
10. If called by phone, do not give out your personal information over the phone if you do not recognize the business you are dealing with. If you feel any sense of doubt, ask for a number and contact information for the person requesting the information and contact them to provide only the necessary information.
11. Do not put telephone numbers on you checks. If a business requests a phone number, write it in the notes section of the check on a case by case basis.
12. Use banking and credit cards that offer photo ID on any cards they issue.
13. Do not store your credit card number on shopping sites. It may seem secure, but you may accidentally release your password to a site without knowing it and give away your credit card information at the same time.
14. Most identification groups (health care, insurance, etc) can utilize a different identification number instead of your social security number. Using a custom identification number reduces the number of people who have access to your social security number and personal information.
15. Keep track of your banking and credit card statements. Check line items (and those darn monthly charges) to make sure that you have authorized all the charges on your account.
16. Check your credit every six months. You can gain a free copy of your credit report during most credit application processes (credit card applications, mortgage, car financing, etc) Review your information carefully.
17. Keep your personal information on your computer secure. Utilize password options and do not store financial data on a mobile computer (laptop, PDA, phone) If you do need to store sensitive data, encrypt the information with proper software.
18. Store personal information at home in a secure location, preferably a locking file cabinet or personal safe.
19. Double-check that all of your utility accounts and financial services have DIFFERENT passwords. If one account has security breached, it will prevent all of your accounts from being hijacked.
20. The Next Step: Ordering Your Credit Report
The three major credit bureaus have current toll-free phone numbers and web addresses for ordering credit reports. You can also order by mail, but these addresses change frequently and it is best to call or check the web site to get the current mail address.
TRANS UNION: Toll-free phone number: 1-800-888-4213.
If you think you are the victim of identify theft:
ISSUE A CREDIT FREEZE. A credit freeze disables your credit file, requiring extra verification to open new accounts or access personal information. Typical credit freezes last 90 days. You can request a credit freeze by contacting any of the three credit agencies above.
- Oliver Wendell Holmes, Jr.
It seems like a new identity theft horror story makes the rounds every day, stirring up panic, paranoia, and concern all over again. But here's a dirty little secret about this seemingly intractable problem: in most cases, it is completely, 100% avoidable! That's right - with some conscientious planning and common sense habits, you can lower your risk of identiy theft to almost zero. You see, the problem isn't just that ID thieves are getting smarter (which they are.) The real problem is that everyday citizens are getting dumber! Don't let yourself fall into that category. Instead, follow these 7 tips and rest assured that ID thieves will be shut out in the cold.
1) Use a paper shredder
The bedrock of any sensible ID theft prevention strategy is a good, old-fashioned paper shredder. If nothing else, you should be shredding all invoices, credit card statements, or sensitive printed information that you intend to throw away. Once shredded, you can add another layer of protection by tossing the shreds into a garbage bag containing disgusting things like old food, dog droppings, or anything else an ID thief would hate having to sift through. If you have a fireplace, burn your private information during the winter months.
2) Do not own or use unnecessary credit cards
It should go without saying that every credit card you own increases your exposure to identity theft. Unfortunately, the average American owns multiple credit cards, including rewards cards and store-specific cards. If you have too many cards, strongly consider ditching them! Not only will it lower your risk of identity theft, it will also help your credit score, as people with more cards are percieved as risky because of all the debt they could charge to them.
3) Set a reasonable spending limit on the cards you do own and use
The one or two credit cards you keep should have reasonable spending limits. Experts suggest that $100-$500 is a good rule of thumb, as even in the worst-case scenario, an ID thief spending that amount would probably not be devastating to your finances. If your cards do not have reasonable spending limits already, set them now.
4) Examine unfamiliar/suspicious e-mail with the scrutiny of a hawk
It may not be 1998 anymore, but it's astounding how many people are still, in 2008, taken by obviously fake e-mails that appear to come from their bank, investment company, or other institution. Learn this and learn it cold: no reputable institution will ask for your password, account confirmation, or sensitive data in an e-mail, especially not out of the clear blue or because of a "recent computer failure" or any such nonsense. E-mails that sound like that were made up by scammers to fool you into handing over your information. Don't give it to them!
5) Lock all personal information and documents in a safe
These days, there's just no excuse for leaving your birth certificate, Social Security cards, or other private data out in the open. No matter where you live or how safe you think you are, these things should be secured! If you don't own one already, go out, buy a safe, and lock your important documents inside. It's a valuable layer of protection in the event of a breaking and entering, and you'll be glad you have one!
6) Use services like PayPal that shield your bank details from others
If you make online payments, consider using services like PayPal, which allow you to make and recieve payments using only an e-mail address. In this way, the people you do business with will only see your e-mail address, not your actual bank account number or routing number. Only PayPal will have that information, which they never share. It's just sound practice to give people as little private information as you can, and PayPal can be a great means to that end!
7) Pull your credit reports twice a year (at least)
Your credit report will offer obvious clues if someone has stolen your identity - for example, whether any new accounts have been opened, or whether anyone has pulled your credit report since you last checked. These are things you need to know, and the best way to find out is to request access to your credit report at least twice a year. Make sure to check all of the 3 major bureaus - Experian, Equifax, and Trans-Union.
Both Jenny Deraspe-bolles & Fred Jones are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Jenny Deraspe-bolles has sinced written about articles on various topics from Home Security, Culture and Society. Jenny DeRaspe-Bolles is Marketing/PR Specialist at MailBoss - a division of Epoch Design. MailBoss is committed to the design, manufacturing and distribution of a