Keeping Your Identity Safe During the Holidays

Our exposure to Identity theft is stronger during the holiday season.
Kroll Fraud Solutions Center posted the following tips to keep your personal information safer

Tip#1

Before you hit the stores, the very first thing you should do is take stock of what you are bringing along with you. Clean out your purse or wallet and remove unnecessary key identity components or valuables. Take inventory of whatever you will be carrying. That way, you’ll know what was taken if your purse or wallet is lost or stolen.

For added protection, keep your valuables with you at all times – your purse, wallet, or cell phone is not safer in your locked car than in your possession. Thieves know this is a common habit and will be scanning the parking lots looking for cars they can break in to.

Consider your preferred method of payment before heading out – there are pros and cons to each, and it’s up to the consumer to determine which best suits his or her needs. Generally, from a theft standpoint, credit cards are a safer bet because, unlike debit cards, you usually have more protection against fraudulent charges – many credit cards have a zero liability policy. Cash is another option, but while you will not have to worry about personal identifiers, it will be gone for good if your purse or wallet is stolen. Take your checkbook only if it’s absolutely necessary – stolen checks can turn into an ongoing forgery nightmare and give the thief direct access to your checking account.

Finally, be stingy with your personal information. If a store clerk asks what seems like too much personal information during a transaction, remember that you have a right to ask why it’s needed. Some stores ask for phone numbers or zip codes for customer tracking – sharing this information won’t necessarily increase your risk of identity theft. Beware of shoulder surfers and shield your PIN number while entering it on a keypad. Resist the temptation to apply for credit at the register – you may get a hefty discount on your purchases, but there’s added risk at this time of year that your identifiers will be exposed. Someone may overhear your information or, if it is written down, the paperwork can be easily misplaced.

Tip#2

Contrary to popular belief, online shopping does not necessarily carry any additional risk for identity theft than shopping in the store, provided you are taking reasonable precautions. However, it’s important to remember that thieves generally step up their activities during the holiday season – the increase in online traffic and transaction levels offer plenty of opportunities to steal data.

It sort of goes without saying, but you should never use a public computer (like those found at the library) to perform online financial transactions. Likewise, if the coffee shop is offering free – yet unsecured – wi-fi, don’t be tempted to buy anything there, either. These are high-risk scenarios that offer little protection to the consumer. You never know if a public computer contains spyware, such as a keylogger or some type of malware, and it is very easy for thieves to steal data via unsecured wireless internet hookup.

Even when using a computer you trust, you should make sure you have installed your security software’s latest update and run a scan of your computer. Beyond that, practice smart shopping by visiting reputable sites and being careful not to fall for phishing scams that will try to trick you into giving up or exposing personal information. Some sites may offer great deals, but be skeptical about the level of safety they provide for financial transactions.

Just as you would keep receipts from the stores, keep a record of all your online transactions. Check your debit/credit accounts daily and make sure only the transactions you’ve authorized have been registered. If you see any unauthorized transactions, dispute them with your financial institution immediately. If you haven’t received your monthly statement, call the financial institution to verify that no one has changed the address on your account.

Contact me for more information about how you can protect your identity and that of your company as well.

Happy Thanksgiving

Identity Theft up 123%

According to a report by the US Treasury Department, identity theft rose 123% in the past 5 years. The question that begs to be asked is why we aren't taking it seriously? Most believe that monitoring will be enough. What if I told you that monitoring only covers less than 20% of identity theft? Most of identity theft has nothing to do with credit cards and credit reports and if you wait for it to notify you, it's too late.

When you think that all it takes is knowing your name and your date of birth to steal your identity then everyone is at risk because the only form of proving your identity is your driver's license and it has enough information to steal it, use it, and repeatedly abuse it for years to come.

Protecting it is useless if it doesn't include a plan what you are going to do when it happens to you. Ask the 22 year old I met at Applebees the other day when I inquired about how they ID people. Her identity was stolen when she was 6 years old and she just found out. Six hundred hours won't begin to cover what has to be reversed in her case. The cost will be with her for a lifetime. For others the cost will be their lives.

State of Connecticut Acts

Five Days ago the State of Connecticut imposed upon all licensed insurance agents, of any type, the responsibility of reporting any identity theft breaches their clients inform them about to the attorney general's office. The attorney general has already taken the stance that any privacy breach that occurs in their state will require identity theft consultation and recovery as part of a company's responsibilities.

Three and one half percent of identities stolen are compromised and the costs to business grows exponentially. Not too many companies do full restoration really. Connecticut fired the first shot. How far behind do you think other states are in enacting the same requirements?

So tell me have you done your privacy prebreach preparedness yet? Do you know if it was done well? Take my test and find out.

As it relates to identity protection "How Naked Are You?" Take the Test. Get Your Score.