Ways to Prevent Identity Theft

'Better safe than sorry' is the best approach to preventing identity theft.  Studies have shown that the average victim spends over 150 hours and over $800 to regain their identity. 

We cannot promise that following the steps below will ensure the safety of your personal information.  No one can guarantee that.  But they will help to minimize the risk of identity theft and will make you a more difficult target. There is no one way to prevent identity theft.

What you choose to implement will depend on how much time or energy you want to use in protecting your information. Making conscious decisions as to how or when our personal information is shared will give us more control and should become a lifelong habit.

Monitor Your Credit Reports

You are entitled to one free credit report each year.  It is wise to check your credit report at least once every year even if you must pay to receive it. If you suspect your identity has been stolen or have received notice of information that has been stolen you may be able to get free reports throughout the first year of the incident.

Carry the minimum in your Wallet

Social Security Numbers, birth certificates, passports or any other personal identification should not be carried in your wallet. The same goes for extra credit cards and store or gas credit cards. The less you carry the less risk if your wallet is stolen or lost.  Know which cards are in your wallet and what number to call for customer service for each card.  The easiest method is to keep your prior months statement so you have the numbers at home.

Stop Pre-Approved Credit Offers

You can stop the mailing of pre-approved credit offers by calling toll-free 888-5OPTOUT (888-567-8688). Ask to have your name removed from the list as pre-approved credit offers can be easily abused by thieves.

Shred Personal Documents

The best way to prevent dumpster diving is to shred all documents and offers with personal information.  Bank statements, pre-approved credit offers, financial and tax information and old credit card statements are a bonanza for identity thieves.

Pick Up the Mail EVERY Day

Don't allow your mail to sit in your mail box.  Pick it up every day.  If you are going on vacation, ask the post office to hold your mail until you return.

Don’t Respond to Email Requests

Do not verify any personal or financial information that is sent to you via email.  And most importantly, do not open the link from an email that claims you must validate your personal information!  Offers that are too good to be true are too good to be true.  For actual 'phishing' email examples, click here.

Don’t Give Information to Phone Callers

Yes, some mortgage companies will call you (usually at supper time) and want to tell you about their great rates and how you overpaid on the last loan.  (Mortgages are public record.)  Unless you them, you should never give personal or financial information to a caller over the phone.  Besides, you can probably get a better rate by shopping around anyway. 

If a caller portrays themselves to be representing a charity or offering a prize or trip you can ask for a phone number to call back. Verify the phone number and hang up. If they are with a reputable organization you will be able to check the number and call back.

Telemarketing scams that ask for credit card deposits, account information or personal information such as your mother’s maiden name, your SSN or other information are common. If you wish to donate it is better to call the organization yourself.

Put Passwords on Your Credit Cards

Credit card companies like Visa offer added protection by allowing you to create a password along with the card number when making a purchase. Even if your card is stolen you can prevent thieves from using it by having it password protected.

Be Aware of Who Has Access

Don’t give passwords to credit cards or other personal information to friends and family. According to a survey done by www.idtheftcener.org the victim respondents indicated that 43% of them thought they knew the imposter. About 34% were aware that the thief had a history of needing money to support a drug, drinking, gambling or shopping addiction.

Online Shopping

Look for secure shopping sites with the web address starts with https:// as opposed to http:// (note the additional 's'). You can also look for a lock icon appearing below the webpage on your browser.

Never give PIN numbers or passwords to the merchant.  Verify your bank statements immediately online or over the phone to check the transaction was made for the proper amount and no other charges were made.

Always Ask to Opt-Out

Whenever you are asked for personal information you have a right to know why it is needed and how it will be used. Online you may find that information in a Privacy Policy.

Limit the use of your personal information by requesting financial institutions not to share your information with affiliates. This is called ‘opting-out’ and the financial institution must allow you to do so. Once you have requested to opt-out, either on the phone or in writing, they must never share your information unless you specifically request they do so.

Sign Your Cards Immediately

When you do receive a new credit or debit card sign it immediately and never carry it unsigned.

Don’t Save Passwords

Don’t save passwords to personal information (such as online banking) in a program that ‘remembers’ your information. Remove cookies from your computer and have your hard drive professionally ‘wiped’ before disposing it.

Use strong passwords – that means a combination of letters and numbers that can’t be easily guessed. Never use information such as your mother’s maiden name or birth date that can be figured out by thieves.

Protect Your Computer

Set your browser security settings to Medium or higher.  Be sure to have anti-virus and anti-spyware programs running and always print out the transaction record, log out and close the browser when completed.