Tips to Avoid Identity Theft

In an increasingly on-line world, our personal and financial information is just a click away, for us and others who want to use it for their personal gain. Obtaining an identity fraudulently for the sole purpose of using another person's identity to steal or commit offenses is known as identity theft. There are many ways to steal an identity and they all result in anxiety, bad credit history and loss of reputation for the victim, taking more than a hundred hours to track and repair the damage.

Tips to Avoid Identity Theft
Identity theft poses an enormous threat, but a proactive approach can help reduce the risk of our personal and financial data being stolen. Following are some ways by which the threat of identity theft can be reduced.

Social Security Number (SSN)
A SSN card is a vital piece of information that carries your personal and financial information. This number allows access to all credit reports and banking accounts. Always keep this card in a secure place and avoid carrying it in your wallet. Try to use other identifiers if possible. Use it only where necessary. Check your Social security earnings and benefits statement, at least once a year to check for fraud. Never print your Social Security number on your cheques.

Shoulder Surfing
Always ensure privacy while entering a PIN or a credit card number in an ATM machine or on a computer, while performing a transaction. Make sure nobody is peering over your shoulder or using a phone camera to record your sensitive information

Protect your Wallet
Never leave your wallet unattended. Limit the number of credit/debit cards or cheques that you carry in your wallet. Photocopy all contents of the wallet, such as license, credit card numbers, etc and keep it in a secure place.

Shred all Unwanted Documents
Identity thieves always go through people's dumpsters and trash to collect personal information. So to secure oneself, one must shred all bills, receipts, credit statements, pre-approved credit offers, loan offers, medical statements and all other junk mail before throwing them away.

Protect Your Mail
Always use a locked mailbox to receive mails. It is advisable to post bill payments and cheques directly from the post office rather than using your mailbox from home. Inform the post office to stop all mail if you are going on a vacation.

Monitor your Credit Report
A credit report contains your SSN, all account numbers, employment details and your credit score. It would be in your best interest, to be very sure of who you are sharing this information with

Credit Cards
Stealing an identity through a credit card has proven to be the easiest of all methods. To ensure safety of your credit information, place unusual passwords for credit card transactions. Never allow a transaction to take place in your absence. Close credit cards that are not in use anymore. Check credit card and bank statements carefully and regularly and report any discrepancies you may find. Have your name removed from all marketing lists of the three credit reporting bureaus, to limit the number of pre-approved credit offers.

Destroy Digital Data
All data stored electronically by you, should be disposed off before you sell or exchange a computer, hard drive, or even a recordable CD, DVD, pen drive or backup tape.

Safe On-line Transactions
Be careful while sending and receiving emails or filling survey forms that require your personal information to be included. Criminals use email hoaxes to lure victims onto fake websites. Never respond to requests for personal or financial information and always use virus protection.

A victim of identity theft should immediately report the same by filing a complaint with the Federal Trade Commission and have a fraud alert placed on his/her credit report. This will prevent the thief from opening any accounts in your name. Immediately notify credit card companies and banks in writing and include photocopies of all supporting documents.

One can reduce the possibility of becoming a victim of identity theft, by understanding how thieves access personal information and guarding oneself against it.