Identity Theft Protection

Identity Theft Protection, over the years, has come to occupy a significant position in an average American's routine life. The situation seems alarming, particularly when we consider the hair-raising figures of Identity Theft compiled by The Federal Trade Commission (FTC) over the past few years. During the year 2006, FTC received a whopping 246,035 complaints relating to identity theft, which is 36% of the total complaints received by the FTC.

Identity theft has, indeed, arrived with a bang and can only be tackled with a sound defense strategy adopted at various levels. Can you allow your hard-earned money just siphoned off by a shrewd conman? So, what can you do to avoid becoming an identity theft victim? Actually, a lot! If you are prepared to take some basic precautions, they will save you from unpleasant surprises, like inflated credit card bills.

Here are some tips that would be helpful in identity theft protection.

Protect Social Security Number. Never give out your Social Security Number to anyone unless it is absolutely necessary and a legal compulsion. If your employers seek the Social Security Number, make all the relevant enquiries to ensure that it won't be compromised. Avoid carrying it in your wallet.

Protect Credit Card Details. Majority of the reported cases of identity theft refers to Credit Card Frauds. Review your credit report and credit card statement periodically to ensure the integrity of the credit card. If the concerned agencies offer a service that will alert you to any changes in your credit file, subscribe it immediately. Be wary of Phishing scams on the Internet, telephones and regular mail. They are generating lots of identity theft complaints of late. If you have been denied credit some time, don't just ignore. Make sure that the denial was for the right reasons. Never give out credit card details on a website that is not SSL-secured. Lastly, make sure you shred the expired credit cards or any credit card offers before trashing them.

Protect Bank Details. Before entering into transactions with a bank, make sure you've read their privacy policy. Banks must undertake not to share your personal details with a third party without your permission. Never put any other information besides your name and address on your checks. Make it a point to periodically (preferably monthly) check your bank statements for any unauthorized charges or withdrawals. If you are using online banking facility or telebanking, never share your Customer ID and/or Password to anyone, even if the concerned person claims to be from the bank itself. Also, use difficult passwords, preferably alphanumeric, for your bank accounts. If your ATM card has been lost, stolen or otherwise compromised, cancel the card immediately and get a new one. If your checkbook is stolen or misplaced, immediately request the bank authorities for Stop Payment.

Protect Vital Documents. Never carry your passport or birth certificate in your wallet. It is always advisable to keep the weight of your wallet under check. Carry as many credit cards as are immediately required. The rest of them should be kept at a safe place in your home. The bills and deposit slips also contain your personal details. These should be treated at par with credit cards and checks in terms of safety precautions.

Report Identity Theft Immediately. If you think you've become an unfortunate victim of identity theft, stop wasting your time and immediately report the matter to The Federal Trade Commission. You may also contact Privacy Rights Clearinghouse for some vital piece of advice.

Identity theft is a reality in the tech-driven twenty-first century. The only remedy against it is to adopt an effective identity theft protection strategy that will safeguard your privacy.