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Protection Against Identity Theft
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Is your identity safe?
Thieves are lurking – on the internet, behind you in the supermarket line, in your trashcans, and on your mail route. The golden robbery is no longer your family heirlooms, but something much more valuable: your identity. Protection against identity theft is growing in importance, as your identity can be utilized to open new credit cards, charge thousands of dollars, and even commit crimes.
In 2007 alone, more than 8.4 million Americans became the innocent victims of identity theft, with losses totaling nearly $49.3 billion. In fact, identity theft is one of the quickest growing crimes in America, and protection against identity theft has never been more important.
How identity thieves wreak havoc on your financial standing
Once an identity thief has an individual’s personal information, the criminal may open new accounts and rack up thousands of dollars in charges for months or even years before the victim is aware of the stolen identity. Needless to say, these accounts go unpaid, and the victim’s name is literally dragged through financial dirt – hitting the very bottom of credit scores.
Clearing up your good name and financial standing can take years, and in the interim, creditors and lenders will be very reluctant to extend financing to you. In fact, applying for a new job, buying a new car, and even signing a home lease are negatively impacted by a victim’s ravaged credit report. Even worse, some victims of identity theft have been arrested unknowingly for crimes committed in their names.
The dramatic results of identity theft call for preventative measures. Protection against identity theft is a financially intelligent decision, shielding your good name and financial reputation.
What elements need protection against identity theft
To understand how you can best enact protection against identity theft, it is important to understand where these criminals lurk and how you can thwart their activities:
Dumpster diving – Your trash is an identity thief’s treasure. Make sure you shred all of your sensitive documents – including credit card statements, bank statements, pre-approved credit card letters, bills, voided and canceled checks, expired credit cards, tax information, ATM receipts, and paystubs – with a crosscut shredder. Shredding your trash is excellent protection against identity theft.
Old equipment – An old laptop in a dump site is all a thief needs to assume your identity. Make sure that your entire system is completely erased of your personal information – or better yet, physically destroy the old equipment to prevent anyone from accessing important information. This gives you protection against identity theft that may occur through your old computer.
Opening your mail – Your mailbox contains a treasure trove of information, and this can be the ultimate jackpot for the identity thief. Install a lock on your mailbox, and make sure you do not allow your mail to sit overnight or through the weekends. If you are going out of town, ask the post office to hold your mail. Protecting your mail is an important element of protection from identity theft.
Shoulder surfing – That old lady behind you in the grocery checkout lane may be monitoring your credit card and personal identification information for thievery Protection against identity theft means being aware of your surroundings. Shield your credit card number and identification from everyone but the cashier.
Computer viruses – Hacking and Trojan horses are prevalent in stealing an individual’s sensitive information. Install anit-virus and anti-spyware software programs on your computer for protection against identity theft. Make sure that all of the websites you visit are secured.
Fake job offers – Unscrupulous identity thieves will post fake job offers, and then turn around to steal your name, phone number, Social Security number, address, resume, and banking information. Never give out your personal information unless you are certain that the corporation is real and the job is legitimate.
Phishing – Identity thieves pretend to be from a major organization, simply requesting that you re-verify your sensitive financial information. Remember that PayPal or your bank will never ask you via email to confirm your personal information. Protection against identity theft means calling your financial institutions directly to enquire as to the information you need.
The opportunities for criminals abound to steal your one identity.Giving the growing prevalence of identity theft, taking preventative measures to enact protection against identity theft is a solid investment in your financial future.
How to enact protection against identity theft
As outlined above, there are many preventative measures you can take that will offer you protection against identity theft.However, none of the methods are foolproof, and the criminals have become more sophisticated with their techniques.Corporations and accountant offices around the country have reported theft of their computer systems – meaning that all of their clients’ sensitive information fell into the hands of identity thieves.
Therefore, it is important to take additional measures to ensure protection against identity theft – and that means delving deep into your credit report.It is highly recommended that you regularly order and check your credit reports from the three reporting agencies.This allows you to monitor your credit, any accounts you did not open, and any strange changes in your addresses – which are all telltale symptoms of an identity thief in progress.
However, if you want to take your protection against identity theft to the next level, you may want to consider enlisting the services of professionals, such as LifeLock. While most consumers’ busy lives cause identity theft protection efforts to shift onto the backburner, LifeLock’s sole purpose is to passionately protect the identity of their customers:
Set fraud alerts on your credit reports, which ensures that you and lenders are notified if an identity thief attempts to open new accounts. These fraud alerts only last for 90 days, but LifeLock will automatically renew these alerts to provide you with protection against identity theft.
Removal from pre-approved cards and junk mailing lists. Considering that identity thieves love pre-approved card offers, a wayward letter in the mail or trash can spell major problems for you. LifeLock removes your name from these dangerous mailing lists, diminishing a large source of information for identity thieves – and thus, giving you another level of protection against identity theft.
Automatic orders for free credit reports annually. Remember, it is important to monitor your credit report to ensure that the activity is free from identity thieves. LifeLock automatically offers you this important element of protection against identity theft.
Lost wallet protection. If your wallet or purse is stolen, LifeLock’s WalletLock specialists take the necessary steps to protect your documents and order replacements.
$1,000,000 guarantee. Should you become an unlikely victim of identity theft under the protection of LifeLock, they will utilize up to $1,000,000 to clear your name and financial standing.
Protection against identity theft is a critical part to maintaining your financial health. Taking the necessary precautions at home, as well as hiring professionals, can mean the difference between a safe identity and one that is abused by identity thieves. If you want to protect your good name, which impacts your jobs, loans, home, cars, and even criminal history, then consider LifeLock to be the ultimate protection against identity theft.
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