Identity Theft

Identity theft is becoming big business for unsavory individuals. By stealing credit card numbers, Social Security numbers, bank account numbers, and other personal information, they are able to use another person’s financial information for their own gain. Often, these thieves run up huge debts before their victims find out.

The end result of identity theft for the victim can be a blemished credit rating and a long process to cancel credit cards, clear his or her identity with financial institutions, and reestablish good credit.

The best ways to avoid identity theft are grounded in common sense:

• Never share account numbers or passwords with anyone who isn’t named on the account.
• Never share financial or private information with anyone who contacts you offering financial services or who says you’ve won a prize and all you have to do to collect it is to pay a small fee.
• When discarding receipts or financial records, either shred or burn them rather than putting such sensitive information in the trash.
• Compare credit card and bank statements monthly to the records you keep at home. If there’s a discrepancy, alert the financial institution immediately.
• Don’t keep passwords for accounts in your wallet or written on credit cards or bank statements.
• Don’t carry your Social Security card in your wallet.
• Make passwords hard to figure out. Don’t use such identifiers as children’s names, dates of birth, addresses, and so on.
• Deposit outgoing mail in post office collection boxes or at your local post office rather than leaving it in your personal mailbox, from which it can be easily stolen.
• Promptly remove mail from your mailbox after it's delivered. If you plan to go away, have your mail held at the post office until you return.