A Credit Union E-Course
Lesson Eleven
Building a Safeguard Plan Against Identity Theft
Because you’ve already come this far in the Identity Theft E-Course, you realize how dangerous and prevalent identity theft really is. You probably also understand the importance of protecting yourself from this growing crime.
Once you’ve taken responsibility for your
own identity, the first step toward prevention is arming yourself
with education and information. Congratulations! This e-course is
that first step! You already know how identity thieves obtain information
and what they do with it. Now it’s time to go one step further.
Here’s what you need to do to build your own safeguard plan
against identity theft.
- Analyze your habits to discover where you may have some gaps in your personal security. Ask yourself the following questions:
- Do you change your online passwords often?
- Do you keep any identifying information in
an unsecured location?
- Do you remember to take only those credit cards
and other personal information that you absolutely, positively
need? (Leave your SSN card and credit cards you rarely use at
home.)
- Are you vigilant in never lending your credit
card or other identifying information to anyone, not even your
family members?
If you answered “No” to any of these questions, it’s time to start placing some more focus on these areas of security.
- Pay attention to your credit
cards. What are your credit limits? (The lower they are,
the smaller the liability in the event of fraud or identity theft.)
What do you do with your monthly statements? Do you keep them
in a secure location? Do you check them thoroughly every month
and compare them against your own records? (This is one of the
best ways to recognize theft if and when it happens and nip it
in the bud before it becomes a much bigger issue.)
- Watch your credit reports. It’s a good idea to regularly get copies of your credit reports and watch them just as closely as you do your credit cards. If you find any discrepancies, challenge them, in writing, to the credit reporting bureau(s). Again, this is a good way to stop identity theft before it gets really out of control.
- Respect technology. Be sure that you and your family don’t open any suspicious e-mail attachments. Never, ever respond to spam or “phishing” e-mails. Set up a protocol for what your family is—and isn’t—allowed to download onto the computer(s), as well as which web sites can and can’t be visited. Make sure you choose passwords that can’t be easily guessed, change them often, and keep them in a secure place. Also, be sure to always use security technologies, such as firewalls, anti-virus software, and code encryption on your personal and business computers.
- Protect your home. Install an alarm system, secure window and door locks, and a safe for holding sensitive documents. Also think of using locked filing cabinets for bills and other personal information.
- Protect your SSN. Don’t have it on your checks, or on any other documents that others can easily access. Don’t send it via e-mail or over the phone and be very wary of entering it online. Never use it to identify yourself or as a security password. And be sure to protect all documents containing your SSN in a secure location in your home.
- Protect your mail. If you’ll be leaving for vacation, put a hold on mail and newspaper service so that thieves won’t know that you’re not home. Pick up your mail regularly so as to not make it tempting for someone else to come along and pick it up. Consider getting a mail slot that drops directly into your house (as opposed to a street-side mailbox or a mailbox on your porch) or investing in a post office box at your local Post Office.
- Use a shredder to destroy any personal identifying information. Make a habit of tearing your name, address, and other personal information off of anything you’ll be throwing away or recycling and shredding it. You know those pesky credit card offers you always get? Don’t just toss them; be sure to go through them and shred any identifying information first.
- Talk to your professional advisors. Make sure your CPA, lawyer, and other individuals and institutions that have access to your SSN and other identifying information have security precautions in place.
- Be especially careful when traveling. Use traveler’s checks whenever possible, or at the very least pay for items in cash instead of with a credit card. Protect your wallet or purse so that it won’t be stolen. And take with you only those documents that are absolutely necessary. Talk to your travel agent or other advisor to find out exactly what you should and shouldn’t have with you while away from home.
Lastly, make sure you have a plan for what you’ll do if you are a victim of identity theft. Print out the previous lesson (What to do if Your Identity’s Been Stolen) and file it away for easy reference should you ever need it.
Next Lesson: Will You Be an Identity Theft Victim? Take the Test.
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