Preventing ID Theft and Financial Fraud
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Preventing ID theft and financial fraud is
in many cases, simple common sense. It's all about keeping your
own personal information close, and not sharing it with anyone
unnecessarily.
- Don't let family or friends use your credit or debit
cards. It is not necessarily a matter of distrusting them
(although a fair amount of identity theft originates with
family members). You cannot run the risk of a third party
being able to record the card details and the security
number on the rear of the card, when it is not in your
possession.
- Don't keep a record of card PIN numbers in the same
wallet as your credit cards. If you lose your wallet, or it
gets stolen, you are handing the identity thief a licence
to max your cards out in very short order.
- Don't carry all your credit cards with you all the
time. Just carry those you think you will need.
- When making a purchase offline, do not lose sight of
your credit or store cards at anytime. Unscrupulous
business employees have been known to 'palm' the card and
make a duplicate swipe when processing your payment, and to
make a note of the security number on the rear of the card.
These details can be used later to make fraudulent
purchases online - at your expense. Most reputable
merchants will process your card in front of you. Even
restaurants now bring the card processing machine to your
dining table to complete a transaction.
- Never throw away debit card receipts, bank statements,
credit and store card statements, or bills. Burn
them or use a shredder.
- If making a transaction using your credit card on the
telephone and in a public place, ensure that you cannot be
overheard or that your card details can be read. Similarly,
if you are in a retail outlet and the shop assistant needs
to telephone through a query about your card, insist that
the card information is not read out in front of other
customers in the store.
- Compile a record of all your financial arrangements -
bank accounts, credit and store cards, mortgages, personal
loans, pension plans, and so on - detailing full account
name and numbers and contact telephone numbers. In the
event of you becoming an identity theft victim, you will
have readily available in one place, all the information
needed to report the crime.
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