Gilman
Identity theft and account fraud continue to make the headlines. They happen when someone steals personal information such as your bank account number or Social Security number and then poses as you, either cleaning out your account or running up debt in your name or both.
The threat is real. The government estimates more than 400,000 people are victimized by these crimes each year.
Your bank works hard every day to ward off these threats, but maximum security is possible only with your help.
Here is what you can do to stop these crimes before they happen to protect your assets and your good name.
• Do not give out financial information such as checking and credit card numbers and especially your Social Security number on the phone unless you initiated the call and know the person or organization you’re dealing with. Do not give that information to any stranger, even one claiming to be from your bank.
• Report lost or stolen checks immediately. Your bank will block payment on the check numbers involved. Also, review new deliveries of checks to make sure none has been stolen in transit.
• Store cancelled checks and new checks in a safe place.
• Notify your banker of suspicious phone inquiries such as those asking for account information to “verify a statement” or “award a prize.”
• Guard your ATM PIN (personal identification number) and receipts. Thieves can use them to access your accounts.
• Do not throw away financial solicitations that arrive in your mailbox. Tear them up so thieves can’t use them to assume your identity. Tear up or shred any other financial documents such as bank statements or invoices before disposing of them.
• Do not put outgoing mail in or on your mailbox. Drop it into a secure, official Postal Service collection box. Thieves may use mail to steal your identity.
• If regular bills fail to reach you, call the company to find out why. Someone may have filed a false change-of-address notice to divert your information to his or her address.
• If your bills include suspicious items, do not ignore them. Instead, investigate immediately to head off any possible fraud before it occurs.
• Regularly review your bank statements and monitor your online accounts.
• Periodically contact the major credit reporting companies to review your file and make certain the information is correct.
Be proactive and protect your identity. Do not be a victim of identity theft.
Gail Gilman is a family life consultant and University of Minnesota professor emeritus. Reach her at waldn001@umn.edu.
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