In the last six years, $112 billion dollars has been stolen from U.S. residents because of identity theft. That is $36,500 per minute, enough money to pay the average mortgage for two years or eight years of groceries for a typical family of four (Javelin Strategy & Research). Yikes! That is a frightening statistic. But don’t give up hope. There is some good news in the 2016 statistics. Eighty-five percent of Americans are taking action to prevent their risk of fraud and identity theft.
Here is a list of simple steps you can take right now to reduce your risk of becoming a victim of identity theft.
- Protect your Social Security Number (SS#). Do not carry your Social Security Card in your wallet. Avoid giving out your SS# to anyone unless absolutely necessary. If you feel uneasy about any request for your SS#, question it.
- Promptly collect your mail. Put a hold on your mail with your post office when on vacation. Ask trusted neighbors to collect your mail if you will be gone. This prevents mail theft, which is a method by which criminals attempt to obtain personally identifiable information, including credit card offers.
- Never respond to unsolicited requests for personally identifiable information such as your name, birth date, address, social security number, bank information, etc.
- Check all of your bills, receipts and bank statements thoroughly to ensure accuracy and that no fraudulent charges have been posted. Report any discrepancies immediately.
- Create complex passwords and keep them secure. Store personal information in a secure place at home and at work. Change passwords regularly, especially if a company has had a data breach.
- Install firewalls and virus protection on all home computers.
- Obtain your credit report annually and review it carefully. Check for any accounts you have not opened.
- Shred anything and everything, including receipts, credit card offers, bank statements, expired cards, etc. Go through your old documents and bring a box to your local shredding company for secure shredding. Secure, locking containers for your home or office and regular shredding service with an onsite, mobile shredding company is the safest and most secure way to destroy confidential documents.
As consumers, so much of our personally identifiable information is in the hands of others. We have to put our trust in the businesses, health care facilities, bank and credit institutions to safeguard our confidential information. We must all take steps to protect ourselves from fraud and identity theft. Some simple changes in our consumer behavior can go a long way. FBN
By Jen Green
