Preventing Identity Fraud

Preventing identity fraud can save you endless hours of financial frustration. Most scam artists who steal identities do so for a financial gain. With the personal information of someone else, a person can take out extensive loans, credit cards and mortgages which will ruin your credit and may take years to correct.

To prevent identity theft, you will need:

• Lock box
• Secrecy

1. Avoid giving out your social security number. Your social security number is one of the main keys of any person’s identity. Protecting this number is key to preventing identity theft. Do not carry your social security card with you. If you ever lose your social security card, someone could easily victimize you.
2. Be cautious on the internet. Avoid giving out personal information online. Do not display your full name, address orr phone number on any website. Consider limiting your birthday information as well, as this can be used easily in combination with your name to steal your identity. By limiting the information you post online for others to view, you are taking the right approach for preventing identity fraud.
3. Keep personal files locked up. Purchase a small, fireproof lock box to store your social security card, birth certificate and all of your banking or financial forms. This will secure this information from being stolen, as well as protect important items in case of a fire. Locking up personal files will help you  prevent identity fraud because it limits the amount of information that can be taken out of your home without your approval.
4. Protect your credit cards. Avoid giving out your credit card information online and in person. Do not make a credit card purchase that requires the seller to make a copy of your credit card. This can cause credit card skimming, which a type of identity fraudallows a thief to charge your card without physically possessing it. Several credit card companies allow you to generate an identification number to make online purchases, which eliminates the distribution of your credit card number and prevents identity fraud.
5. Monitor your credit frequently. Do periodic credit checks to make sure no false information comes up. Look for any misspelling of names, addresses or false accounts. This is one of the easiest ways to monitor your credit and prevent identity fraud problems from growing larger.