Financial identity theft can be very serious. It is also becoming more and more prevalent these days. In this article, we will discuss how financial identity theft occurs and what you can do to protect yourself.
In many cases, financial identity theft begins with the theft of one's social security number. With your social security number and a few other pieces of information about you, the thief can set up an entire second credit line. They can apply for credit cards and even get a mortgage. It is so important that you keep this information private. Do not give your social security number out over the phone. Only provide it to entities that truly have a right and a legitimate reason to know, such as your tax professional or your bank.
Protect your credit by reviewing your credit report often. If you keep a close eye on your credit report, you are much less likely to become a victim of financial identity theft. Some of the major credit reporting agencies offer a credit monitoring service for a fee. You can look at your credit report and scores each month to be sure it is accurate. You also have the right to request, in writing, a free copy of your credit report from each of the three credit reporting agencies once each year, so if you space it out over the year, you can keep a good watch over your credit.
Be careful of entering your personal information on the computer. Only use secured websites from legitimate companies that you trust. Phishing is a common scam that financial identity theft predators use to obtain your bank and credit card information. They send you an email that claims it is from your bank. There is a link for you to verify your information by entering things like your social security number, credit card number, user name and password, and other personal information. These websites look very real and close to the legitimate company's website. Be aware that your bank or credit card company will never ask you for this information in an email. These things are always a financial identity theft scam, and when in doubt, call the company.
Another way to avoid being a financial identity theft victim is to properly dispose of mail such as credit card and bank statements, and even utility bills. Never simply toss these items in the trash, Take the time to shred them to foil dumpster divers. Being careless with correspondence is simply leaving yourself open to financial identity theft.
Financial identity theft is a nightmare to victims. It can take years to undo the damage done by these criminals. The best way to keep from becoming a victim is to guard your personal information. Be informed and protect yourself and you can avoid being the target of financial identity theft.
About the author: Author and internet entrepreneur Bernard Pragides offers expert advice and tips regarding identity theft. Learn more about identity theft and fraud by visiting his identity theft blog and his website http://www.IdentityProtek.com for more helpful information.
No comments:
Post a Comment