Protect Your Credit - Don’t Let Criminals Steal Your Money or Your Good Name

When someone grabs hold of your personal financial information, he or she can steal more than your money. They can rob you of your good name, your credit record, your peace of mind and precious time.

The credit counseling experts at ClearPoint Credit Counseling Solutions advise consumers to minimize your risk of falling victim to identity thieves. Guard your financial and personal information as carefully as you do your wallet.

Know what to protect, how your identity is likely to be stolen, when and where you are most vulnerable and of whom to be leery.

What needs to be protected. Identity thieves seek a victim’s personal identifying information. This would include your Social Security number, bank account numbers, credit card numbers, driver’s license number, mother’s maiden name, account passwords, PINs or any other information that is uniquely yours.

How your information is likely to be stolen. Identity thieves are white-collar criminals. Their weapons of choice are the telephone, the mailbox, the Internet and the dumpster.

• The telephone. Identity thieves are terrific actors; they can impersonate anyone over the phone. Some pose as law enforcement officers or government agency officials. Others pretend to work for a financial institution, a retailer, a charity or a prize-awarding organization. Their goal is to talk you into providing your bank account number, credit card information, Social Security number, PIN or other personal information.
• The mailbox. Your incoming and outgoing mail can be vulnerable to identity theft. If you have an unlocked mailbox and aren’t able to retrieve your mail in a timely fashion, consider getting a lock box. Always place outgoing bill payments in a locked mailbox or official postal facility. Some identity thieves drive through neighborhoods looking for the raised red flag. That’s a sign of outgoing bill payments that could contain account information.
• The Internet. Scammers who use the computer to steal personal identifying information pretend to be retailers, financial institutions, government agencies or other legitimate entities. They send unsolicited e-mails asking recipients to click on embedded hyperlinks. You could be transferred to a fake Web site that lures you into revealing account information or fall victim to a computer program that “hijacks” your passwords.
• The dumpster. Some identity thieves rummage through trash bins to pull bills or other papers with financial account information. The skimmer. It happens very rarely, but it’s not unheard of. Some dishonest employees at retailers and restaurants use a special storage device when processing credit card transactions that steals the customer’s number. There have also been cases of crooks who install a device in the slot of an ATM that grabs customers’ bankcards.
• Person-to-person contact. There are old-fashioned crooks who prefer to steal wallets or purses from a person’s shoulder, pocket, the back of an office door, the grocery cart or car.

What you can do to protect yourself.

• Only carry what you need. Never carry your Social Security card in your wallet and don’t cart your checkbook around with you. Carry only those credit/debit cards that you use regularly. Never carry your PINs or passwords on your person.
• When making a purchase with a credit card, do not sign the back of the card. Instead print the words “PLEASE SEE I.D.” so that the cashier with ask for another form of identification.
• Never write your Social Security number on a check. If a company tries to use your SSN as an account number, request another identifier.
• Shred all financial documents and account statements before you discard them.
• Keep your personal information in a locked, safe place at home and at work. Don’t leave your wallet, checkbook or bank account statements in open view. Don’t post PIN numbers or passwords on your computer screen.
• Place outgoing mail in a locked postbox or mail facility.
• Don’t open e-mails from strangers or unfamiliar companies or organizations. Never click on embedded hyperlinks and don’t download anything from an e-mail sender you don’t recognize.
• Use complicated passwords that are hard to guess. Don’t use your mother’s maiden name, your birthdate or street address, or any part of your Social Security number. Use a combination of letters and numbers.
• Check your credit report from each of the three major credit-reporting agencies at least once a year. Make sure the accounts listed are yours.
• Review your bank and credit card statements in a timely fashion. If you have online access to your accounts, you can check them every day, if need be.
• Don’t reply to any e-mail that asks for your financial or account information. If you are unsure, call the telephone number that appears on your printed statement to verify the request.
• Shop only at trustworthy Web sites verified by the Better Business Bureau or other impartial organization.
• Use a secure browser when making online purchases. Know the merchant’s privacy policy.
• Protect your computer with a secure firewall, anti-virus software and anti-spyware software.
• Instruct your children on the importance of protecting their name, Social Security number, address, passwords, phone numbers and other information.

By taking common-sense measures, you lessen the chance that someone will walk away with your finances or your financial information. Most importantly, you’ll help protect your good name.

If you fear you have become the victim of identity theft, don’t delay taking action. If your credit record has been damaged, seek the assistance of a certified consumer credit counselor at ClearPoint Credit Counseling Solutions for guidance on ways to straighten out your credit report. Also, if you find yourself in need of debt relief as a result of being an identity theft victim, our credit counselors can work with you to get you back on the right financial track.