Protect Yourself Against Theft This Holiday Season

All of us as consumers need to remain vigilant about the safety of our credit cards, checks, and other financial information during this Thanksgiving, Christmas, New Year's and other Holiday Seasons. How to protect ourselves, the importance of doing so, and what to do if we make a mistake that results in the stealing of our financial documents and other information, must be very critical to all of us.

We are being reminded that identify theft is one of the most devastating abuses of personal information. The essence of this serious crime is that the criminal engages in financial transactions while impersonating someone else. This can happen, for instance, when someone steals personal identification such as Social Security number or birth date and uses it to open new charge accounts, order merchandize, or borrow money. For the victim, the sad thing is that the person may not know of the victimization until collection agencies, for example, pursue him/her to pay accounts they did not know about. Or, when they may be denied credit because of unknown unpaid debts accumulated by the thief. See Attorney General Salazar Alerts Consumers To Protect Against Identify Theft During The Holidays at www.ago.state.co.us.

Law Enforcement Personnel and the Media have reminded us that the United States 9/11 Commission report reaffirms the importance of protecting individual identities both from theft and from unauthorized use by criminals and terrorists, and essentially, the costs of failing to do so. In addition, we are being told that identity authentication is the single most important measure to deny criminals or terrorists access to property, bank accounts, the commercial transportation infrastructure, and similar crucial institutions of modern societies. This is applicable to both citizens and foreign visitors. Hence, identity authentication is an essential method to prevent identity theft, which can facilitate criminal and/or terrorist activities. See Perspective: Technology and the 9/11 Commission at http://news.com.com. That is why modern information base process using unique physical biometric identifiers, like those pertaining to fingerprints or facial images, are so essential to all of security. But we are still responsible for implementing safeguards security measures for our own personal benefits.

Now the most common ways criminals may obtain personal information include: "Shoulder Surfing" or looking over someone's shoulder, as a PIN is entered at an ATM machine; sending phony e-mails with official looking credit card or bank company logos that ask us to click on a link and respond with account information to fix and alleged problem; calling and claiming to be a credit company or bank representative and requesting account information; calling on behalf of a purported charity and asking for an immediate donation via credit card; stealing credit cards receipts, and many other ways. See Consumers Cautioned About ID Theft During the Holiday Shopping Season at www.state.nj.us. But we must also be aware that our own financial institutions staff my ask or seek to acquire our personal financial data in a fraudulent way, and without official approval. So we must never give out information to even our own bank staff, for example, if we are suspicious of their activities.

Our precautionary measures must also include safeguarding our credit card (ATM) receipts, and never allowing an associate to throw them away, or placing them in our shopping bags. We are to photocopy the front and back of all credit and identification cards we carry in our wallet and purses, and keep the photocopy in a safe place so we can quickly contact the banks or issuing agencies if our purse or wallet is lost or stolen. Shredding (or tearing into small pieces) all our financial paper documents after use, or cutting into fine pieces used credit cards that are no longer in use, is also essential. Reviewing our credit report periodically (such as every season or twice yearly) also helps.

In addition, avoid giving out personal credit information over the phone, unless you initiate the call. Watch closely for any missing mails. Only mail bills from secure mailboxes that can't be opened by anyone other than U.S. Postal personnel. Keep a very close eye on personal accounts statements for any unauthorized charges. Make sure you do business with companies you know to be reputable with updated secure transaction technologies, especially when doing business online. When you do business online, make sure a padlock or key icon is active on your browser. Always use virus detection and protection software. Protect passwords by using letters and numbers in combination, and change them regularly, if need be. If you suspect fraud, report it to your bank, for example, and customer service office immediately. See Helping Us Maintain Your Privacy and Protecting You from Identify Theft at https://stats.clearcard.com.

Other very important online safety, protection and privacy information about such factors as, for example, hackers, attacker and intruder, malicious code (viruses, worms, trojan horses, and others) phishing and more are available and accessible from Online Safety and Privacy at www.pueblo.gsa.gov/cfocus/cfonlinesafety06/focus.htm.

Now what information is available from security experts about what to do if we become the victim of this crime?

We are advised that, immediately after discovering we have been victimized, it is essential to file a police report with our local law enforcement officials. And when doing so, list all that were stolen and/ or used without our permission. Also, contact our credit card institutions or financial organizations and notify them of the theft. They may ask for a copy of the police report. Ask that your current credit cards and /or bank account, for example, be closed and that a new account be opened under a new number. Some businesses may request the completion and signing of an affidavit of forgery form that they will provide. Always file a complaint with the Federal Trade Commission (FTC). The information will be entered into a database that enables the FTC to better assist you and all consumers with issues of identity theft. Law enforcement agencies will also access the database during investigations for indications of patterns and trends. See Protect Yourself from Identity Theft this Holiday Season at www.creditadvisors.org.

Therefore, protecting ourselves against theft this holiday season is very important and necessary. There are some safeguard factors mentioned above that are feasible and effective in this endeavor. We are the ones who are ultimately responsible for our own safety against theft, so procrastination in implementing safety measures can cause serious disadvantages. We must practice to protect ourselves against theft.