As we head into the Christmas shopping season at full speed many of us will be turning to the internet to make our purchases. No matter how cautious we are about protecting our personal information; crooks will always come up with creative ways to steal our identity. We as consumers can take action to avoid the kind of stress and financial heartache identity fraud causes by adopting some new habits, and correcting old bad ones. Here are some tips to get ahead of the problem:
Set up a PayPal Account for Shopping On-Line. If you are making a lot of purchases on-line this year be sure to stick to trusted retailers and never make purchases from public or shared computers – if you do clear the cache and cookies. I have never heard of a PayPal account that has been breached, but even if it did, the fraudster will only have access to the amount of money in the account. Furthermore, by using PayPal it keeps your personal banking separate.
Don’t Over-share On-Line. Everything you post on-line tells a story about who you are; vacation alerts, life milestones and financial achievements. These may be fun to share with your friends but fraudsters troll the internet putting the pieces of your life together; then use them to pretend to be you.
Mind Paper Trails and Passwords. Destroy documents you no longer need with a shredder and never leave paper receipts behind. Be vigilant about your surroundings, someone could steal personal information off your desk at work. The same vigilance goes for passwords on computers and mobile devices. A strong password includes a mix of upper and lower-case letters, numbers and symbols. Experts say you should change your passwords at least every three months.
Keep an Eye on Your Mailbox. Fraudsters are very clever on re-directing mail; with Canada Post now clearing the backlog it will be easy to miss the odd statement or invoice. Go through the pile and make sure you have received everything. Also take notice of your billing cycles and when you receive statements from your financial institutions. If you are missing a statement now or in the future check into it sooner rather than later. And, if you can; sign up for E-Delivery of your bills and financial statements.
Take Advantage of Freebies. You are allowed one free credit report per year, so take advantage of it. Review your report in detail and note and discrepancies. Call the 1-800 numbers on the back of your credit and debit cards and ask to speak with the identity-theft services department, they can refer you to free services where you can ask questions on how to better protect yourself.
Contact the Credit Bureau. If you suspect your personal information has been compromised contact the credit bureau and let them know. A fraud alert can be put on your account at TransUnion or Equifax that would alert you if anyone is attempting to apply for credit in your name.
Make sure your holiday season is a happy one; a few small changes to your behaviour will help ensure you don’t become a victim of identity fraud.
Have a great weekend,
Tracey
Source: CBC News, original article by Matt Kwong, posted 20-01-16.
Image courtesy of Stuart Miles at Free DigitalPhotos.net