Safeguards Against Identity Theft

Don’t Let Credit Criminals Ruin the Holidays

By Stephen Mazeika

The holidays are approaching, which means one thing; the start of the year’s busiest buying season. Unfortunately, along with this guaranteed increase in retail and other sales comes higher instances of identity theft; and according to some experts, this year may be worse than usual.

Steven Domeniko, chief executive of IdentityTruth, an identity protection services says the current economic recession could be a contributing factor to the increase in holiday ID thefts. "People are getting more creative in defrauding other people," he said.

It doesn’t help that around 8.3 million people on average are victims of various forms of ID theft annually at a cost of $3 billion to consumers; that doesn’t even include the aggravation and helplessness that people often feel when they’ve been victimized. The most common forms of theft continue to be the most traditional, which entails credit card fraud and check kiting. Although 60% of victims did not have to pay out-of-pocket as a result of these crimes, it is still a huge problem in our society that consumers need to take the necessary precautions to avoid.

The "Do’s and Don’ts" to help Fight ID Theft

There are some simple ways to help avoid becoming a victim of these crimes that often pose as big an inconvenience as they do a financial impact. Here are some tips from the experts:

1. Avoid using unsecure or freestanding ATM’s in public places

2. Stay away from purchases on unfamiliar websites or email offers, especially those that ask for atypical credit card or personal information

3. If offer appears ‘too good to be true’, it probably is, especially if seen online

4. Use resources such as the Better Business Bureau website (http://welcome.bbb.org/) to check out suspicious retailers or websites

5. Take caution in using debit cards this holiday season, as credit cards typically have better protection services, safeguards, and reimbursement clauses

6. Consider writing “See ID” in place of your signature on the back of your cards which should increase instances that clerks ask for photo ID or a second form to confirm the buyer’s identity

7. Keep an extra eye on your cards, wallets, and purses, and be sure to save your receipts from card purchases

8. Travel light: don’t carry unnecessary items such as extra debit or credit cards, social security card, or any other compromising documents or information

9. Experts advise to consider sticking with one credit card for holiday purchases, as this limits the availability of your personal account information in circulation and lessens the chances of ID theft