A Center Of Identity Theft Know-How

This whole identity theft thing gives you the creeps, right? You’re not only infuriated by, but terrified of the thought of somebody sifting through your trash, brazenly stealing your mail, or hijacking your wallet not for your money so much as your social security number. You may even feel helpless.

While identity theft is a serious issue, there are things you can do to reduce your risk of being an identity theft victim. The following is a list of just a few things you can do to protect your identity:

• Either purchase a locking mailbox or have a mail slot installed. For even more security, considered getting a post office box. An unlocked mailbox provides access to extremely valuable information. Consider it this way, which is worth more: your $2,000 big screen TV or the account number and corresponding information of your Visa card with a $10,000 credit limit? You don’t leave your front door unlocked because you don’t want somebody to steal your TV, right? So, why is your mailbox unlocked?

• Shred all financial documents (bank statements, credit card statements, loan statements, receipts, etc.) and anything with your name or other identifying information not once, but twice! Run the document through your shredder and hand tear the shredded material in different directions. Now divide up the shredded remains into multiple trash bags. Ultra paranoid? Burn everything. Seriously.

• Treat your social security number as though it were your child. Protect it at most costs (all costs may be just a little excessive…better to be alive and an ID theft victim than a dead man with a safe identity). Don’t freely give it out. Ask for alternatives, if possible. I’d give out my social security number to obtain a loan. I wouldn’t give it out to buy an ice cream cone. A ridiculous example, but it illustrates the point. Don’t write your social security number on checks. Don’t let the bank teller do it either. While she’s just trying to cover her butt, she’s exposing yours.

• Don’t give any information to telemarketers. Period. There are other ways to get a good price on magazine subscriptions or to make donations to charity. The same thing goes for spam emails, but you don’t open those, right?

• Speaking of emails, don’t click on emails from people you don’t know. Don’t click on emails from people you know when the subject of the email doesn’t make sense or says something the sender would never say. It probably contains a virus, possibly one designed to poke through your computer files and steal passwords and account numbers. You have a spam filter. Use it.

• Yes, you do need that $60 annual anti-virus/internet security subscription, especially if you are very internet-active or have children. Hackers and virus designers work day and night, minute by minute, to swindle you out of your money, resources and identity information. This is one area where you don’t want to go cheap. $60 per year is much less than the cost of a new computer or repairing your credit. By the way, keep these programs up to date. Most can be set to automatically update when you are least likely to be using your computer, such as late at night.

• Be smart about your passwords. It can be a hassle, but passwords that involve your name, your spouse’s name, your birthday, or your favorite sports teams are virtually worthless. A random combination of letters and numbers is best. Do you really want to throw off the identity thieves? Smash your hand into your keyboard. The result is your new password. Keep a file on your computer in a secure location with the password in it and copy and paste the password when you need it. Just be sure to copy something else when you’re done to clear the password from your clipboard. Or you can handwrite your hand-smashed result in a notebook and copy it when you need it. Inconvenience is the ultimate price of security.

Don’t let the identity thieves get you down. The most important thing you can do is be aware of what information you are giving out and who you are giving it to. All it takes is a little conscious effort to limit your risk of identity theft.

Identity theft is a growing concern among Americans, and rates among the top five complaints received by states’ Attorney General’s offices. A stolen identity can lead to tens of thousands of dollars worth of debt in the victim’s name and it can take years to completely undo the damage done to the victim’s credit report. Identity thieves can successfully commit crime with as little as a driver’s license number or credit card number, but the ideal target of such criminals is the Social Security number. With that number in hand, the identity thief can pass themselves off as the victim and open credit card accounts, bank accounts, and even obtain home equity loans. As more Americans become aware of the problems posed by identity theft, consumers are doing more to protect themselves. This has inspired thieves to look to a new source of identities to steal, and they have found one. They are now stealing the identities of children.

Established in the 1930’s the Social Security Administration was set up to provide benefits for retired Americans. Taxes are withdrawn from the paychecks of eligible workers, and each worker is issued a Social Security number in order to keep track of his or her benefits. Over the years, and despite the intentions of those who created the system, the Social Security number has become a de facto national identity number. It is difficult, if not impossible, to engage in most financial transactions without providing that number to the other party in the transaction. In fact, the number itself has become as important as the name of the person who holds it. Over the years, criminals have discovered that by obtaining the Social Security number of someone else, all kinds of illegal activities are possible, including obtaining loans in the names of the owner’s of the stolen numbers.

With more people now aware of the potential of identity theft, consumers are more carefully protecting their personal information. As a result, thieves are now targeting the Social Security numbers of children. A law passed in 1989 requires parents of newborn infants to register for a Social Security number for their child. That child will probably not need that number until he or she is a teenager, when the number might be necessary to obtain a driver’s license, open a bank account, or get a job. In the meantime, the number is not only unused, but the theft of it may go unnoticed. Thieves who obtain a Social Security number of a child know that they can probably use it for a decade without being caught. How can you protect your child from identity theft? Treat your child’s personal information as if it were your own, and guard it carefully. Don’t give out the Social Security number of your child unless it is absolutely necessary, and if you aren’t sure if it’s necessary, ask. Some doctors and hospitals, for instance, request the number as a matter of course, but they may not actually need it. Check to see if your child has a credit report. You can obtain one for free at the free credit report Website. Your child, if not working, shouldn’t have a credit report, so if the credit bureaus have one on file, you may have a problem. A child’s personal information is as useful to an identity thief as that of an adult. Guard yours and your children’s identification carefully.