Identity Theft Safety Tips

Identity theft protection is an ironclad way to protect yourself against the disastrous consequences of identity fraud. However, you can also take steps of your own to supplement this protection. Here is some basic information on identity theft and safety tips to help you protect your good name. If you have any questions then please visit our frequently asked questions page.

Four Biggest Myths about Identity Theft

• Internet use puts you at greater risk for identity theft. Actually, 90% of data compromise takes place offline, meaning most victims can pinpoint the source of the identity compromise. The #1 source for identity theft is still lost/stolen wallets or purses, credit cards, and checkbooks, comprising 30% of identity theft cases.
• You are helpless to protect yourself. In over 60% of identity theft cases, the point of compromise is by someone the victim knows (coworker, acquaintance, employee, etc.). The thieves get the information from home computers, mail, wallets/purses, or credit cards. These sources are easy to protect, and you can fairly easily control whom you grant access to this information.
• Identity theft is rare; it won't happen to me. Identity theft is not so rare anymore. With 10 million victims per year, the chances are higher and higher that identity theft could happen to you.
• The elderly have to worry the most about identity theft. Although vulnerable populations like the elderly and minors do have to guard against identity theft, the demographic with the highest identity theft rates is actually the 25-34 year old bracket. This age range also has a higher average fraud amount compared to the elderly, meaning identity theft is more severe with this age demographic.

Identity Theft Safety Tips

Supplement your identity theft protection investment by following these safety tips:

• Don't give out your social security number or account information
• Carry in your wallet or purse only the credit cards you need
• Shred all documents containing sensitive information before discarding
• Store documents with identifying information in a secure, locked location
• Replace paper bills with paperless options
• Make passwords to accounts complicated and change them often
• Don't place checks in your mailbox-take them directly to the post office
• Review your bank and credit card statements regularly
• If you do not receive bills or statements on time, contact your lender immediately
• Talk to your creditors about their zero-liability policies, if they have them
• Immediately report any suspected fraud