identity-theft

In today’s connected online world, the risk of identity theft is hard to avoid. But there are ways to minimize the risk of identity theft and stay ahead of scammers and thieves who want your personal information.

Know the Risks

Nearly 30% of Americans were impacted by at least one of three kinds of major identity theft within the previous 12 months. \

  • 21% experienced fraudulent charges on their credit or debit card.
  • 8% had someone take over their social media or email without their permission.
  • 6% had someone try to open a credit card or get a loan in their name.

When scammers assume your identity, you may be liable.

Use Credit Card Protections

Use credit cards to limit your cash liability. Federal law limits your liability to $50, no matter how much was charged, and most credit card companies have policies that offer you zero liability for fraud.

To benefit from this fraud protection, regularly review transactions and immediately report any unauthorized transactions.

  • Be cautious about giving anyone, your key financial information.
  • Choose unique PINs. Don’t use your Social Security number, birthdate, or variations that are easy to guess.
  • Don’t write your PIN in your wallet.
  • Keep a list of relevant account numbers in a secure place. Include details on how to cancel or suspend cards if you lose them or suspect fraudulent activity.
  • Shred receipts and bills before you throw them away.

Look for Security Signs

Only buy from well-known companies and look for an SSL certificate to ensure your transaction is secure. Look for a lock symbol to the left of the company name and “https” in the URL.

Phishing links often imitate legitimate companies or websites as a way to get your personal information. Before you click any link or attachment—even those from companies or people you know and trust—check for typos, misspellings, or other red flags. It’s possible they were hacked and the link will allow scammers to access your info or download a virus to your device.

Be wary of pushy calls-to-action or limited-time offers that require your personal information. Deals that seem too good to be true usually are.

Telemarketing Traps

Texts and phone calls  that offer free trips and discounted magazine subscriptions are often not legit. Seniors are often targeted with business imposters, tech support scams, prizes, sweepstakes and lotteries, and government imposters.

If you receive an unsolicited phone call, ask them to send you information in the mail about their products or offer. Even if the caller says he is from a company you’re familiar with, don’t give your personal information, especially your bank account information, credit card number, or Social Security number. Report suspicious calls to the FTC by filing a consumer complaint form or calling the hotline, 1-877-FTC-HELP.

You can also add your number to the Do Not Call List, but keep in mind there are still millions of violations of numbers on the list.

Resources for Victims

To learn more about fraud and its impacts on your financial security, visit Fraud.org, the National Consumer League’s Fraud Information Center website.

Contact your bank or credit card company if you think your account has been compromised. Then visit IdentityTheft.gov to report the theft and find out next steps.

 

This article was adapted from the article “Preventing Identity Theft,” published by Deseret First Credit Union.

 

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