The most efficient defense against identity theft is diligent and mindful management of your personal details. Imagine the shock of receiving a $7,000 phone bill for an unowned cell phone — or utility bills for an apartment you don’t even live in. These situations can befall victims of identity theft.
It’s always advisable not to carry your social security card or birth certificate around in your wallet, but rather, to keep them tucked away safely at home. Also, be cautious about revealing your credit card or social security information over the phone, unless the call was initiated by you and you’re certain about the recipient’s identity. Furnish your social security number only when it’s absolutely crucial, and see if other ID forms are acceptable if you have any reservations.
Protect documents containing personal details, such as credit card receipts and check card stubs. Shred them when no longer needed. Before sharing personal information, make sure to understand how it will be used and whether it will be shared.
To minimize risk, try to limit the number of credit cards you carry. Maintain a contact list of your credit card companies, useful for speedy communication should your cards be lost or stolen.
Make a habit of promptly scrutinizing your financial statements and bills — whether received by mail or as e-statements. Check all transactions and if any unfamiliarities crop up, inform the respective financial institution or biller in written form.
At least once a year, ensure to request your credit reports and monitor them for any fraudulent activities. Visit annualcreditreport.com, where you are legally entitled to a free credit report from each of the major credit bureaus every 12 months.
In case you fall victim to identity theft, the Federal Trade Commission (FTC) is the best resource. Visit their dedicated site at consumer.gov/idtheft to understand more about this crime and ways to defend against it.
