How to Protect Yourself against Identity Theft

Identity theft is a rapidly growing crime that can be committed in any number of ways. By taking a few precautionary steps, you will greatly reduce your likelihood of becoming a target.

• Shred financial documents before throwing them in the trash. Any piece of paper containing your credit card, banking, or Social Insurance Number could be collected and used to open accounts in your name. Even seemingly harmless information like your name and address can be used against you. So shred, shred, and shred some more.
   
• Protect your computer. Make sure you have updated virus, anti-spyware, and firewall software installed. If you use a wireless network to access the internet, it should be encrypted. Make online purchases only through secure internet sites, indicated by an “https” at the beginning of the website address and an icon of a lock at the lower right corner. If you throw out or recycle your old computer, make sure to take out and destroy the hard drive first. Simply deleting items does not truly erase your sensitive data. 
   
• Choose a complex and unpredictable ATM pin number, and use a mix of numbers and letters whenever possible for online passwords. Never use birthdays, addresses, or other easily guessed codes. Change your passwords regularly, and never write them down or carry them in your wallet.
   
• Be aware of phishing scams, both online and over the phone. Phishing happens when an identity thief impersonates a trusted or familiar entity, such as your bank, credit card company, or the government. They attempt to solicit personal information while claiming to be someone they’re not. Never give out personal information over the phone or online unless you confirm it is going to a trusted source. Financial institutions and government agencies will never contact you via e-mail or phone to confirm personal information.
   
• Carefully inspect your monthly credit card and banking statements. If you see any strange or unfamiliar transactions, investigate further by contacting the company at the number listed. Unauthorized charges are most likely the work of an identity thief who got a hold of your credit card or banking account information.
   
• Protect your credit cards. Carry only the cards and identification you need in your wallet, and keep the rest in a safe place. Do not store them with your chequebook. When making a transaction, make sure you get your card back as soon as possible. Never sign a blank charge slip. When typing your PIN number, make sure the keypad is hidden from others' view.
   
• Protect your mail. Thieves can steal credit card offers, banking statements and tax information straight from your mailbox. Make sure to pick up your mail everyday, and that you receive all of your bills and statements each month. Consider going paperless and paying as many bills as possible online. Consider investing in a locked mailbox to keep your mail secure. Never have new checks mailed to your home, but rather go to your local branch to pick them up.
   
• Sign up for a credit monitoring service. A credit monitoring service continuously keeps an eye on your credit reports. When there is any activity, such as a new inquiry or account opened, the monitoring service alerts you to the change. With 24-hour protection and alerts, credit monitoring quickly reveals unauthorized activity.