A Refresher Course on Identity Theft

Life is better than ever for identity thieves these days. The more assets you have for them to feed on, the more attractive you become. Developing good habits is the key to keeping your personal information truly personal and out of the public domain. We recommend certain actions to take to subvert identity theft before it happens to you.

Check your credit card and bank statements online at least weekly to spot any suspicious activity. Shred papers that include your credit card number, bank account information or Social Security number. Trash bins are a favorite haunt for ID thieves. Consider using an ATM card that does not double as a credit card. Thieves install scanning devices at busy ATM terminals to transmit information from the magnetic strip on your card.

You don’t have to actually lose your card to have the information copied. You can get one free credit report a year from each of the three credit bureaus by going to www.annualcreditreport.com. Stagger your requests
so you get a report from one of the bureaus every four months. Make sure the address on your credit reports is correct. Follow-up promptly on anything that looks suspicious.

Cyber crime is big business. Turn your computer off when you’re not using it, or at the very least, disconnect it from the internet, so they cannot break in and control it from a remote location. When making a payment online or transmitting personal information, look for the https in the URL to indicate you’re on a secure site. Never pay bills or access your bank accounts from a hotel or public computer. Any e-mail purportedly from your bank, credit-card company, or any government agency asking for personal information is almost surely a scam.

Keep personal information off Facebook and Twitter! In the event of death of a loved one, do not mention a woman’s maiden name or exact birth date in an obituary notice. Be sure to notify the Social Security Administration immediately and also alert the DMV.

If you suspect you are a victim of identity theft, file a police report at once. You will need it to dispute fraudulent accounts and debts. It could be as long as two years from the time your identity is stolen before someone eventually tries to use it. Your ELLS advisor can assist you in setting up a routine for following through with our recommendations. Give us a call!