6 Ways To Protect Yourself From Identity Theft

Identity theft is on the rise — are you doing everything you can to protect yourself?If you’ve ever had your credit card company call to alert you to unsusal charges to your account, then you’re all too familiar with identity theft. As our way of doing business (and pretty much everything) has become more electronically-based, the incidents of identity theft have soared. In 2015, 13.1 million people were victims of identity fraud, according to the 2016 Identity Fraud Study released by Javelin Strategy & Research.

 The most common identity fraud scams today include:

• Using someone else’s personal information to file a false tax return—and reap the refund
  
• Piggybacking on someone else’s health insurance for the benefits
  
• Opening new, fraudulent credit card accounts with someone else’s information. (New account fraud rose 113 percent in 2015, according to Javelin Strategy Report, a trend some experts are blaming on the new credit cards that have EMV chips.)
  

  The Latest Identity Scam:

  Last year, the FTC received 221,000 identity theft complaints related to taxes or wages— fully 45 percent of all complaints lodged, says Krebs, who describes tax ID fraud as follows: A thief files a fraudulent tax return using another person’s social security number, and gets the refund sent to a bank account of their choosing.

  How do you Protect Yourself from Identity Theft?

   1) Keep your important papers secure (tax documents, social security card, medicare card, checks, etc.). “Protect your info as your would your cash or your jewelry,” says Krebs. “You want to make sure you’re doing everything you can.” Don’t carry your Social Security card in your purse or wallet, he says, since your Social Security number is the key to much of your personal information. Also shred and properly dispose of documents that have that sensitive information, such as your date of birth, credit card number, bank account numbers, etc.

  2) Consistently monitor your credit reports, credit card statements, and health insurance statements. Go over every charge on your statements. A small charge or retail store account you don’t recognize could be the tip of the fraud iceberg. And be especially careful if you’ve already been the victim of identity theft. “Once someone has your name, social security, and date of birth, you have a much bigger problem,” warns Krebs. “You need to be much more vigilant. Monitor your credit report, but it doesn’t catch everything.” To get your credit report for free try Freecreditreport.com (operated by Experian) or another reputable company such as Equifax or Transunion.
  
  3) Be thoughtful about when and to whom you give your Social Security number.“Your Social Security number is your most sensitive asset,” he says. “A lot of times, it’s asked for, but may not be necessary. These days it’s acceptable to ask why they need your Social Security number and how they will protect it.”
  
  4) Beware of online strangers. “Be alert to online impersonators and telephone impersonators,” advises Krebs. And never click on links sent by a stranger.
  
  5) Make sure your computer system is up-to-date and has the most curent anti-virus software installed. “Microsoft and Apple can identify vulnerabilities, but it only works when people do the updates,” he says. Visit windows.microsoft.com  and macworld.com for easy-to-follow system-update tips. Not sure if you have anti-virus software installed on your computer? Search your Applications (by clicking the Windows icon at the lower left of your screen and then clicking All Apps) for anything that says “malware” or “anti-virus.” If you come up empty-handed, visit toptenreviews.com and search their list of the 2016 best anti virus software .
  
  6) Dispose of your old computer and smartphone safely. “Don’t just throw it away or donate it,” says Krebs. Instead, take it to a computer store or an electronics recycling center — “they will wipe your info as part of their process.” Wary of scammers at stores or centers? Search e-Stewards.org to find a certified electronics recycling drop-off site. And if you really want to thwart would-be thieves, don your protective goggles, locate your computer’s hard drive, and smash it to smithereens with a hammer.
  
  Written by Sara Schwartz