Identity Theft
Identity theft is the criminal practice of someone using your information for personal gain, usually monetarily. According to Bank of America, thieves often use your information to apply for loans and credit lines, file tax returns, spend your money, apply for jobs, and forge checks.
What should you do and look for?
- Shred personal documents before discarding them, as some thieves look through trash.
- Be careful what you share online, avoiding posting sensitive information like phone numbers, emails, and ID numbers.
- Regularly check your free credit reports at AnnualCreditReport.com to identify any unauthorized activity.
- Monitor your bank accounts frequently for unknown charges, which can be a sign of identity theft.
- Prevent pre-approved credit cards from falling into the wrong hands by opting out at optoutprescreen.com, as these can be stolen from your mailbox.
- Keep important documents secure at home.
- Be cautious of requests for personal information from unknown sources, even if they claim to be from legitimate organizations.
- Store passwords, PINs, and other critical numbers in a safe place and avoid sharing them.
- Exercise caution when applying for jobs online, especially through classifieds, and ensure the platforms are reputable.
- Prevent check theft by arranging to pick up blank checks at the post office instead of having them delivered.
- Secure your mailbox by holding mail when traveling and considering a locking mailbox.
Digital Safety
- Safeguard your digital life by installing robust virus protection, spyware blocking, and a firewall. Encrypt sensitive data during transmission to prevent unauthorized access.
- Employ strong, unique passwords that contain a mix of case sensitivity, numbers, and symbols and update them regularly. Avoid automatic logins and always log out of websites.
- Before disposing of storage devices or old cellphones, thoroughly erase all data.
- Strengthen your security questions by choosing challenging options or providing misleading answers.
- Dedicate one credit card for online purchases, favoring credit over debit cards for enhanced fraud protection.
- Use a reliable browser and configure appropriate security settings for it.
What documents should you keep?
USA.gov provides information about what kinds of financial and government documents you should hold onto and for how long. This includes everything from keeping tax documents for seven years (in case you are audited) to keeping warranties until they run up.
What about short-term records?
Receipts and pay stubs help you track your spending. You can organize them in folders or envelopes, or simply rely on your online bank account to monitor your finances. Choose the method that works best for you.