Identity Theft Protection Guide

We all know by now what identity theft or identity fraud is; but there are still many people that do not know the intricacies of these crimes or all of the issues involved. After all, how can you implement an Identity Theft Protection plan if you don’t know all the methods that the identity thieves use?

First Some Facts

Although the majority of identity theft instances occur when the head of the household is under 25 years old, live in an urban or suburban location, and are in the upper income range, does not mean that you are in no danger from identity thieves if you are 40 years old and live in a rural area.

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As those people that are the hardest hit start taking measures, like using identity theft protection services, the identity thieves are going to start coming after the “softer” targets. This rings true when you realize that when there is a monetary loss, the average loss is only $1,500 or less.

Also the fact that 3% of households become victims of identity theft may seam low to some, it is still nearly 4 million households in the USA per year. Some figures put the total number of individuals affected as high as 15 million or more, so it is a situation that requires everyone to understand how the identity thieves operate and how you can protect yourself.

What Methods do Identity Thieves Use?

Just to give you an idea of the many methods used by identity thieves, below I will just list them so you can appreciate which ones you have to take more care with.

• Dumpster Diving - rummaging through your trash or in dumps to find personal or financial details – the solution is to always shred any documents or statements before disposing of them
• Stealing Wallets or Purses – they will then have your identification details, credit / bank cards – hopefully not your Social Security number as you should not carry your card with you
• Stealing Your Mail – This could include your bank and credit card statements, tax information, pre-approved credit offers, etc – Invest in a secure lockable mail box
• Breaking Into Your House - personal information can be stolen from your home – have a secure safe hidden away in your home for personal documents
• Obtaining Credit Reports Through Fraud – Thieves can obtain credit reports by fraudulently using their employer’s authorized access to credit reports or by posing as someone else who may have a legitimate right to obtain your credit report
• Credit Card Skimming - stealing credit and debit card numbers as your card is processed by using an information storage device or skimmer – never let your credit card out of your sight in a shop or restaurant
• Change of Address - Thieves have been known to complete a change of address form which diverts your mail to another address
• Phishing – Thieves create websites and e-mail accounts that look like they are those of known and legitimate businesses, government agencies, or financial services – they then use them to trick you into giving out your username, passwords, bank account numbers, etc
• Phone Calls – Thieves phone you to try and scam information from you by posing as a legitimate business person, bank official, or government official – they may also knock on your door and try to scam you in person

As you can see, there are many methods involved, and I am sure I have missed out some. Some of these techniques are easy to avoid, like always shredding important papers and buying a locking and secure mail box. Other methods are often beyond your control and the only thing you can do is monitor your bank account information online on a daily basis to catch any unusual activity immediately.

I believe it has come to the point where it is nearly impossible to stay safe from identity thieves all of the time. That is why it is worth looking into acquiring the services of a good Identity Theft Protection Company. For a small monthly fee, these companies can protect you and your household by doing all the monitoring for you. After all, it is better to be safe than sorry. Read the TrustedID Review to find out more.