Identity theft keeps on growing at a worrying rate and stories abound of people who have had their identities stolen only to find themselves later getting refused for credit cards, mortgages and the like. The reason, of course, is that someone else has already applied for such things in their name and then not paid them back. You end up credit blacklisted - sometimes literally leading to massive financial problems as you try to explain away the unpaid loans - while the criminal often gets off without trouble because they are so hard to trace. So what common-sense things can we be doing to avoid this unfortunate situation? The first and most important element that I personally have implemented is the use of a paper shredder. Use a good quality shredder to destroy any paperwork with sensitive information about you before disposing of it. Good examples of what you should shred include bank statements, receipts, any letters related to your finances (loan offers, credit card statements etc.) and personally I even go to the extra point of shredding anything with my full name and address on. This means that most envelopes I receive are shredded too, though I believe this small amoount of additional time spent on protecting myself is well worthwhile. Next, try not to give out your details wherever possible. For example, try to stay off mailing lists that may sell your information to other companies. After all, the fewer copies of your full name and address there are around, the less chance there is of someone getting hold of your details for malicious uses. A common problem that has been outlined in the press is companies ringing you up at home or on your cell phone and claiming they are from a legitimate organization and just need a few details. In the UK at present, this often reveals itself as a cell phone upgrade. A call on your phone tells you that you are entitled to another new phone, they just need to take a few details from you. Typically these people never see a new phone, but many see charges they never expected on their bank statement or credit record. So take care with these details. Speaking of credit reports, as credit report are so easy and cheap to come by these days, consider getting a copy of your own records just to check them for an inaccuracies. Take note of anything suspicious so you can follow them up. Awareness of the problem - and how to control it - is vital. Take care when using your details online and ensure that you only enter them into a secure form as evidenced by your internet browser, and regularly check your computer for viruses and spyware that may be keeping a log of all your details as you type them in, posing a risk for the future. Lastly, be aware that there are now a number of banks and credit card companies that offer identity theft protection. These institutions not only help to offer you more protection but will also assist you in resolving issues with identity theft if and when they occur.
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