Identity theft is big business.
It's a rapidly growing industry.
Why? Because it's lucrative.
The bad guys make a lot of money at your expense.
They take over your identity and open credit cards and other accounts in your name.
They run up debt in that will take you years to resolve and get removed from the credit reporting bureaus.
Although this crime ruins lives, identity theft isn't prosecuted as aggressively as it might be.
Therefore it's very important for you to take care of your financial identity.
The following 7 steps will help ensure your financial identity and personal safety.
1.
Buy a shredder.
Use it every time you handle your personal papers.
Open your mail near the shredder.
Shred every page that has your name and/or address on it.
Advertisers are clever -- look inside the bills and catalog inserts for the printed contact information -- your name and address.
Shred the identifying parts and recycle the rest.
This is good for you and the environment.
2.
Protect yourself from identity theft by never unwittingly giving out any personal information over the phone.
Do not tell callers or phone solicitors the 3-digit security code on the back of your credit or debit card.
Remember, the credit card companies will not call you to verify that number.
They have it in their files.
Only scammers posing as security personnel do this.
Do not fall prey to their scheme.
Don't be intimidated by these callers either.
Don't debate or discuss.
Hang up! 3.
Be careful about what you share when out in public.
Do not automatically provide identifying information when requested to do so.
Don't share your phone number, address, or other data without thinking about it.
Why do they want or need it? Do not assume there is a valid reason to provide the information.
Remember also that the people in your general vicinity - in line behind you - will hear your response.
4.
Protect yourself by not leaving bill payments in outside mailboxes with the red flag up.
Your checks containpersonal information including your account number and bank routing numbers that can be misused.
Drop outgoing mail off at the post office, or hand it to a postman.
5.
Are you still using checks to pay bills? It's old school.
Time to enter the 21st century.
Pay as many bills as possible online.
Exercise caution and use common sense.
Go to the vendor's website and find out how to use their online services.
Most vendors let you pay online for free.
Or check with your bank to determine the fee to pay all your bills from the bank's website.
Online payment is convenient, inexpensive, and safe.
Additionally, you don't risk a late payment that can significantly decrease your FICO score.
6.
Leave your credit cards, and other identifying information like your social security card at home in a secure place.
This helps you in two ways.
First, it minimizes your risk of losing or having the cards stolen.
Second, you are less likely to make impulse purchases if you don't have your credit or debit cards with you.
7.
Explain the concept of confidential information to your elementary and high school children.
Discuss ways to keep household information private, especially if your kids use the telephone or computer.
Give your children permission not to answer every question an adult asks.
If the question feels intrusive, your kids should be coached to say they are not allowed to provide personal or family information to non-family members.
You may need to role play this with them.
Pose as a neighbor and ask your child some of the questions you've instructed her not to answer.
Help her avoid unwittingly providing family information.
Use these precautions to protect your family's identity and safety.
It's a rapidly growing industry.
Why? Because it's lucrative.
The bad guys make a lot of money at your expense.
They take over your identity and open credit cards and other accounts in your name.
They run up debt in that will take you years to resolve and get removed from the credit reporting bureaus.
Although this crime ruins lives, identity theft isn't prosecuted as aggressively as it might be.
Therefore it's very important for you to take care of your financial identity.
The following 7 steps will help ensure your financial identity and personal safety.
1.
Buy a shredder.
Use it every time you handle your personal papers.
Open your mail near the shredder.
Shred every page that has your name and/or address on it.
Advertisers are clever -- look inside the bills and catalog inserts for the printed contact information -- your name and address.
Shred the identifying parts and recycle the rest.
This is good for you and the environment.
2.
Protect yourself from identity theft by never unwittingly giving out any personal information over the phone.
Do not tell callers or phone solicitors the 3-digit security code on the back of your credit or debit card.
Remember, the credit card companies will not call you to verify that number.
They have it in their files.
Only scammers posing as security personnel do this.
Do not fall prey to their scheme.
Don't be intimidated by these callers either.
Don't debate or discuss.
Hang up! 3.
Be careful about what you share when out in public.
Do not automatically provide identifying information when requested to do so.
Don't share your phone number, address, or other data without thinking about it.
Why do they want or need it? Do not assume there is a valid reason to provide the information.
Remember also that the people in your general vicinity - in line behind you - will hear your response.
4.
Protect yourself by not leaving bill payments in outside mailboxes with the red flag up.
Your checks containpersonal information including your account number and bank routing numbers that can be misused.
Drop outgoing mail off at the post office, or hand it to a postman.
5.
Are you still using checks to pay bills? It's old school.
Time to enter the 21st century.
Pay as many bills as possible online.
Exercise caution and use common sense.
Go to the vendor's website and find out how to use their online services.
Most vendors let you pay online for free.
Or check with your bank to determine the fee to pay all your bills from the bank's website.
Online payment is convenient, inexpensive, and safe.
Additionally, you don't risk a late payment that can significantly decrease your FICO score.
6.
Leave your credit cards, and other identifying information like your social security card at home in a secure place.
This helps you in two ways.
First, it minimizes your risk of losing or having the cards stolen.
Second, you are less likely to make impulse purchases if you don't have your credit or debit cards with you.
7.
Explain the concept of confidential information to your elementary and high school children.
Discuss ways to keep household information private, especially if your kids use the telephone or computer.
Give your children permission not to answer every question an adult asks.
If the question feels intrusive, your kids should be coached to say they are not allowed to provide personal or family information to non-family members.
You may need to role play this with them.
Pose as a neighbor and ask your child some of the questions you've instructed her not to answer.
Help her avoid unwittingly providing family information.
Use these precautions to protect your family's identity and safety.