Fundamentals of ID Theft Prevention: Deter, Detect, & Defend
Without question, the best way to safeguard your good name and credit is electronic ID theft protection. To supplement those efforts with your own preventive measures, though, is never a bad idea. Here are some preventive actions you can take to stop ID theft.
The FTC sums up ID theft prevention with three guidelines: deter, detect, and defend. Here are specific measures you can take for each:
- Deter – This means guarding your social security #, shredding all junk mail or important documents, taking care of your information online, setting elaborate passwords on your accounts, protecting your purse or wallet, verifying the source before sharing your information, keeping information in secure places, and considering fraud alerts.
- Detect – This means watching for the telltale signs of identity theft, like accounts you didn’t open on your credit report, inaccurate information on your report, not receiving bills or other mail, or inexplicably being denied credit or being offered less favorable loan terms than you normally are. Be sure to regularly monitor your financial statements, which means you should carefully review your bank account and credit card statements every month. Also review your credit report carefully by taking advantage of your free annual reports from the three credit bureaus.
- Defend – Hopefully, you will never get to this point because it means your identity has been compromised. To recover from identity theft, you should first place a fraud alert on your credit, which should’ve already been done if you have electronic ID theft protection. Next, you’ll want to close all the accounts that have been opened fraudulently or tampered with by the identity thief. Finally, file a complaint with the FTC and a report with your local police.
Easy Ways to Supplement Your Electronic ID Theft Protection
Here are some quick, common-sense actions you can take to further guarantee the efficacy of your electronic ID theft protection investment.
- Invest in a cross-cut shredder (will cost around $60) to shred documents w/ identifying info
- Thwart dumpster divers by not throwing away any papers w/ your personal info on them
- Watch your back at ATM’s to make sure no one sees you enter your PIN
- Cancel credit cards you do not use or have not used in six months
- Have personal checks delivered to your bank, not your home
- Do not put checks in the mail from your home mailbox
- Invest in a P.O. box or a locked mailbox
- Do not carry your social security card with you
- Do not carry credit cards with you that you do not need
For the answers to some of the most commonly asked questions about electronic ID theft protection, visit out FAQ’s page.
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