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Take some steps to fight identity theft
By Adam | December 18, 2006
Take some steps to fight identity theft
Question: My
wife and I enjoy those Citicard commercials about identity theft on the
television. While funny, do you think they exaggerate the problem? What
are some other ways to avoid identity theft without applying for a
credit card from Citigroup?
Answer: The only thing I think Citigroup is exaggerating is their uniqueness in being able to stop identity theft.
You can too, just by being smart.
Thieves work very quickly once they have your information, and they will run up as many charges as they can before you get around to canceling everything.
In the interim, you might be on the hook for some of the fraudulent activities.
If the scope of the identity theft is large enough, the affected creditors might want to conduct some form of an investigation.
As such, you need to make sure all your I’s are dotted and T’s are crossed.
While most companies will work with you, once you have proven you were a victim, it will still be a nightmare that will cost a fair amount of time, and potentially money, to resolve.
About a month ago, another reader sent me a list of things you can do in order to reduce the likelihood of someone stealing your identity.
I liked a lot of the ideas, and I have thrown in a few of my own here.
# Don’t sign the back of your credit cards if you don’t have to do so.
Don’t let thieves know how you sign your name.
Make the store ask for your ID.
# Don’t write the full credit card account number in the memo section on your check.
The last data series will usually suffice.
# Put as little personal information on your checks as your bank will allow.
The store will ask for your driver’s license or telephone number, etc., if it needs it.
Showing the clerk your driver’s license really isn’t that big of a hassle, is it?
# Never, ever, give out your Social Security number unless you have initiated the transaction or exchange.
Thieves can run amok if they have this information.
# Photocopy both sides of your credit cards for easy access in case they are stolen.
# Avoid giving any information to an unsolicited telemarketer.
Ask for a call-back number, Web site address or information in the mail if you like the sales pitch.
# Place all sensitive papers and information in a safe or safe-deposit box.
# Maintain up-to-date copies of your credit files.
# Have the credit bureaus “red-flag” your file for any suspicious activity if you are not planning on making any new credit applications.
# Carry your wallet and passports in a “fanny pack” when traveling abroad.
Sure, you might look like a tourist, but they have proven to be an effective deterrent.
(Psst. You looked like a tourist anyway.)
# Limit the number of credit cards you have.
# Investigate whether your credit cards have any identity theft protection and know the terms.
These simple steps will reduce your risks, but not completely eliminate them.
Thieves today are increasingly clever and technologically savvy.
Take some steps to combat identity theft (Montgomery Advertiser)
Question: My wife and I enjoy those Citicard commercials about identity theft on the television. While funny, do you think they exaggerate the problem? What are some other ways to avoid identity theft without applying for a credit card from Citigroup?
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Topics: Identity Theft, Personal Finance, Privacy Concerns |