Identity Theft…10 Simple Steps to Protect Yourself

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Last year, more than 8 million Americans were victims of identity theft, resulting in a loss of $37 billion. In North Carolina alone, nearly 300,000 people are victimized each year. The average person spends about 59 hours and $631 recovering from ID theft. It’s pretty staggering when you stop and think about it.

Although I have not been victimized, I do know someone who is going through the painful process of fixing their credit after someone used their identity unscrupulously. The interesting thing I found when talking to her about this, is that, unlike many common beliefs that ID theft happens with your bank account or credit cards, her pain has been caused by someone setting up phone and cable service using her name.

So what can we do to reduce the risk of identity theft? Thanks to our friends at the Better Business Bureau serving Eastern North Carolina, here are 10 everyday steps you can take to protect yourself:

1. Secure your personal documents at home.
   Securing your personal documents at home is always a good idea, especially if you have roommates, employ outside help or are having work done in your house.
2. Shred any mail that you don’t want to keep.
   This includes credit card applications, insurance forms, financial statements, health forms and billing statements. Also cut up expired credit and debit cards.
3. Monitor your bank and credit card transactions thoroughly.
   Criminals with your account number generally start with small transactions to see if you’ll notice.
4. Protect your Social Security number, all account numbers and passwords.
   Don’t carry these numbers in your wallet. Also, minimize the personal information you print on checks. You don’t need to include your Social Security number, phone number or driver’s license number.
5. Never respond to emails requesting to “verify” your personal information and identifiers.
   Your bank, credit card company, online payment system, the IRS—none of these organizations will call or email asking for your confidential information. They already have it.
6. Don’t create obvious passwords.
   Mix in some numbers with capital and lowercase letters.
7. Never use e-mail to communicate sensitive personal information.
   Examples of such personal information are your user name, passwords, Social Security number or credit card number.
8. Don’t use your PDA or cell phone to store bank information.
   Consumers should never store bank information such as credit card numbers or other financial information on their cellular devices.
9. Keep your computer system and browser software up to date and set the highest security level you can tolerate.
   Back up your data regularly on a separate storage device and never store passwords or financial information on your hard drive.
10. Check your credit report at least once per year.
    There is only one source authorized to give you ONE FREE annual credit file disclosure per year from each of the three consumer reporting companies. Call 877.322.8228 or visit www.AnnualCreditReport.com. Call every four months to receive a report from Equifax, Experian and TransUnion. Doing so will help you keep an even closer eye on your rating.
    

BBB is also hosting its semi-annual “Secure Your ID” day local shredding event on Saturday, April 16. The organization encourages you to bring up to three bags or boxes of documents (no binders please) and they will shred them for you on the spot for free. The event is rain or shine and takes place from 8:00 a.m. to 12:30 p.m. in the parking lot of Coastal Federal Credit Union on St. Albans Drive in Raleigh. More information is available at www.easternnc.bbb.org/secure-your-id. It’s a great way to clean out your files, especially right as the deadline for filing your taxes approaches. We’ll be there and you should too, so come out and see us.