Identity thieves cannot steal what they cannot find. While you may never be able to “hide” or protect all of your personal, financial information from getting out there, there are a number of simple ways to limit the exposure of your information. The Federal Trade Commission says there are four main ways to help protect yourself against identity theft.
- Know who you share your information with
- Store and dispose of your personal information securely
- Ask questions before deciding to share your personal information
- Maintain appropriate security on your computers and other electronic devices
Your personal information is just that, personal. Whether on the phone, mail, email or on the internet never provide your social security number, credit card numbers and any other identifying information to someone you do not know or for something you do not fully understand. Identity thieves will pretend to be representatives from the IRS (Internal Revenue Service), banks, and credit card companies. They may also send emails to you with attachments which contain viruses that would allow the sender to gain access to your computer. Never open email attachments from an unknown user.
Thieves are also great about going through your mail to gain access to credit cards numbers, pre-approved credit card applications, bank statements and anything else that can help them. Be sure to shred and properly dispose of any mail or paperwork that contains bank accounts, credit card numbers, your social security number, etc.
Related read: Taxpayers and Identity Theft: How to Protect Yourself
Credit cards may be the easiest item to steal. Identity thieves do not need the physical card, but just the number, expiration date, and 3-digit code on the back of the card to use it. Only carry the cards you need when leaving the house. Have the customer service phone numbers and card numbers stored in a separate, secure place so that if you misplace a card you can immediately call and cancer the card. Most credit cards have anti-theft tools such as text messages or emails that are automatically sent to you when larger purchases are made. Be sure to sign up for those services and monitor them regularly.
Your passwords and Personal Identification Numbers (PINs) are an important security measure to keeping your personal information private. Passwords should be random and memorized. Avoid using easily available information like your pet’s name, street name, birthdate or your phone number. Employers typically have password mandates for work computers. Find out who has access to your information at work and verify that your passwords and personal information is saved in a safe place on your work computer.
Finally, be sure to check your credit report regularly. Checking often can help you catch inaccuracies and fraud before a thief can completely wreak havoc. Make sure your report is accurate and that there are no unauthorized activities listed.
Remember that identity theft is much larger than someone stealing and using a credit card to make purchases. Identity theft can cause long-term problems for your personal finances. In addition to using your information to take over your credit accounts and opening new cards in your name, identity thieves may even use your good credit to get a job, take out a car loan, or rent an apartment.
Protecting your identity can be daunting but necessary. Our tax services department can help you create a strong, safe foundation and keep you updated on the fraudulent threats that could potentially affect your tax burden. Contact us via email at info@zinnerco.com or phone 216.831.0733 for your no cost consultation.
