Identity Theft: 5 Myths Revealed

1. Myth: It’s safer to use your credit or debit card in a restaurant than to shop online with it.

Truth: Although the internet definitely poses risks when it comes to identity theft, using your card in a restaurant might be even more dangerous. Why? Skimming is a huge part of modern identity theft. In many cases, big time identity thieves will target people who work as waiters and waitresses and offer them large sums of money in exchange for electronically recording the credit card information of those who dine in their restaurants. Since a waiter or waitress typically take patron’s cards and run them in a location out of the card owner’s lines of sight, he or she can easily swipe the cards twice—once for the real transaction, and once in a pocket-sized skimmer that will store the information. So, online and in person you need to guard your information carefully.

2. Myth: Receiving bank statements online isn’t as safe as receiving paper statements by mail.  

Truth: Mail fraud actually plays a large part in identity theft. Many thieves have been known to steal mail from unlocked mailboxes, or even to have mail rerouted to an abandoned house where they can sift through it and pull out bank statements, credit card bills or anything else that might be of use in stealing an identity. Opting out of paper statements eliminates the risk of having your bank statements stolen from your mailbox, and it eliminates the hassle of shredding paper statements after you read them. 

3. Myth: It’s safe to give out information over the phone if your bank calls you and the caller ID verifies that it was really them.

Truth: Identity thieves are becoming savvier and they have now learned how to manipulate caller ID screens to help their cause. If someone calls you claiming they represent your bank and they want you to divulge certain information that they need to “verify” don’t do it. Politely explain that you have growing concerns about id theft, and you would be more than happy to call your bank back at the customer service number on the back of your debit card to answer any questions they might have. Don’t call the person back at a number he or she gives you. Call your bank directly instead, that way you will know you are legitimately dealing with your bank and you can confidently answer any questions they might have.

4. Myth: Checking your credit report once a year is all you need to do to prevent identity theft. 

Truth: While obtaining your free credit report from annualcreditreport.com once a year is a good start there are eleven other months of the year in which fraudulent activity can be going on unnoticed by you. In addition to checking your credit report once a year, you should also check your bank and credit card statements carefully each month and closely monitor your mail—have you been getting all of your bills and other expected materials? If you use a lot of accounts, or you feel as if your lifestyle or profession makes you extremely susceptible to identity theft, you might want to consider employing the use of ID Secure. ID Secure might greatly increase your peace of mind as well as the level of protection guarding your identity. For just $12.99 a month a professional identity monitoring company will use advanced web crawling technology to search the internet and public records to make sure that your social security number, credit and ATM cards and other personal information isn’t being fraudulently used in any way. ID Secure makes sure your identity is being monitored 24 hours a day seven days a week helping to keep it safe. If fraudulent activity is suspected, you will be informed immediately. You can learn more by clicking here.

5. Myth: All identity thieves are technologically savvy.

Truth: Most identity thieves still stick to old fashioned practices like dumpster diving and stealing files from their places of employment. So making small adjustments like shredding anything with your name or any personally identifying information on it before throwing it away, or talking with the human resources department in your office and asking how they safeguard employee information can prove to be among the most beneficial things you can do when it comes to eliminating identity theft. Stop viewing identity theft like a cyber crime and start viewing it from a much broader perspective. Paper trails can be just as dangerous as electronic tails, so be aware of what type of information you are leaving exposed.

According to the Federal Trade Commission, identity theft is the fastest growing crime in America. It affects between 9 and 10 million people per year. So, get your facts straight and protect yourself. It’s your good name—keep it that way.