Instances of credit card fraud have dominated the news lately. But the far more threatening occurrence of identity theft has not been given the press that it deserves. The consequences of identity theft extend way pass the unauthorized use of credit cards. When identity thieves obtain personal information like your social security card, they can open accounts and loans in your name. This behavior can ruin your credit, taking months or years to remedy. Sophisticated criminals have developed a lot of technological weapons to get sensitive data from consumers. The following are some common sense ways to keep your information from identity thieves.
Don’t Bank on Public Wi-Fi. Don’t perform any financial transactions over public Wi-Fi. In fact, avoid going to any websites that deal with sensitive information like your social security number or driver’s license information period. Too often hackers can intercept passwords on public networks.
Clear logins and passwords. Most people use the same passwords for years. Crooks are counting on you to stay consistent, don’t do it. This goes double for anyone using a public computer. Change passwords every month when possible.
Pay Attention to Your Statements. Read, read your statements. This is a good way to see if there are any unapproved transactions on a particular account. And if you do find a charge that looks suspicious, address it right away.
Pay Online with a Credit Card. Using a credit card has better guarantees under the law than a debit card. Plus it is much easier to get unapproved charges off a credit card, than to get money back into a checking account.
Beware of Phishing. Scammers create programs that imitate legitimate businesses and banks to trick you into entering private information. Make sure that you are on a legitimate website before entering any personal information.
Watch Your Credit Report. You are entitled a free report every year from the three bureaus (Equifax, Experian, and TransUnion). Request one every 4 months, and refute inaccuracies right away.
Destroy Sensitive Documents. Purchase a shredder and destroy any bills or outdated statement before throwing them away. If you don’t want to get a shredder, use an old fashioned pair of sisters.
Instances of identity theft have become all too common. That’s why merchants need competent and comprehensive chargeback insurance to protect merchant interests and reputations. eMerchantBroker.com is the number one chargeback insurance provider that offers a specialty chargeback suit to monitor, and alert merchants when chargebacks occur.