Your employment and financial stability aren’t the only things you have to keep an eye on during a recession.  It isVital  that you protect your identity as well.

HOW do thieves steal your identity? 

Skilled in their trade, identity thieves are creative in obtaining personally identifying information such as your name and social security number, credit card numbers or other financial account information.  My intent is not to make you paranoid about security, but to provide theVital knowledge to treat your personal data with caution and protection.

Database Breaches 

Stop and think of how many databases hold a significant amount of your personal and financial information.  As of this writing, more than 245 million consumer records have been exposed to data breaches in the past four years.  Unfortunately, it is beyond our ability to protect ourselves against this form of Identify Theft. 

Just last month I received notification from my bank informing me that my debit card number was stolen from one of their bases.  A new debit card was issued; however, I have to wonder what other information was stolen.  The good news is I don’t have to “worry”.  I had previously invested in both an Identity theft Shield and Prepaid Legal Plan to “Protect and Restore” my identity should I become a victim.

 Diverting Mail

There are currently increasing numbers of protective actions being put into place by credit card companies to help prevent mail diversion.  However, there are still large numbers of reports of change of address mail fraud.  It is Vital  that you monitor your monthly statements regularly.  In any given month, if you do not receive a statement immediately make a telephone call to confirm that your address has not been changed.

Impersonation/False Pretext

We are called upon to learn a new language to protect ourselves from the practice of identity theft on the internet.  One of those words is “phishing” – the act of thieves who impersonates a representative of a financial institution or other well-known company and sends span or pop-up messages to get you to reveal your personal information.  It is Vital  that you be suspicious of any actions of this nature and not respond.  In addition, never give out any personal information on the phone unless you have initiated the call and have knowledge of the person you are speaking with.  There are cases every day where thieves have used false pretenses to obtain personal information pretending to represent financial institutions, telephone companies and other sources.

Dumpster Diving

Many identity thieves go dumpster diving – rummaging through trash - looking for bills or other paper with your personal information on it.  The best way to protect yourself from this act is to purchase a “cross” shredder and make sure that any mail or personal information you discard goes to the dumpster shredded.   Identity thieves have been known to try and piece together shredded documents.  Owning a “cross” shredder is Vital  in order to prevent the piecing together of shredded documents.

Theft

Other than being very cautious about how you handle your purse and/or wallet, you have little protection from those who will perpetrate outright theft of purses and wallets. 

A few  Vital   suggestions are as follows:

• When grocery shopping keep your purse on your shoulder or arm instead of the grocery cart.
• When paying by credit or debit card or showing your identification be sure to put back the card where it belongs immediately. 
• Never leave your purse or wallet unattended or in the car.  

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