Identity Fraud Protection Plan:
Know what is in your wallet. Avoid putting your Social Security number in your wallet or purse. This number should be stored in a safe and protected place, because it provides access to your personal information. To be more careful, only carry the credit cards you need. This would limit access to your accounts whenever your wallet or purse is lost or stolen. Having a photocopy of your cards and keeping a record of the customer service phone numbers associated with your financial accounts would be a good idea to speed up the process of cancelling credit card, once needed.
Shred documents to protect your identity from fraud. Open all mails and read it, even if the items that seem to be a junk mail could contain personal offers. Any items with your personal information such as pre-approved credit offers, utility bills or bank statements should be shredded before being discarded.
Be suspicious of a people who solicit, especially over the phone. In sharing information thru a phone, online or in-store, you should never give personal information, or your Social Security number to people, unless you have verified that they are not a fake or fraud. This is an example of identity fraud protection method.
Keep track of your accounts and credit score. To reduce the risk of unauthorized charges or credit applications, check credit card, bank and other financial account information, along with your credit score at least once a year. Immediately contact the support of your financial institution once you see a suspicious charge.
Take action against illegal acts. Contact one of the three major credit bureaus; Equifax, Experian or TransUnion, and ask to place a “fraud alert” on your record once an account has been opened in your name without your permission. It is proper to file a police report and submit a complaint to the Federal Trade Commission. Once an alert has been placed, the other two bureaus will be notified, and creditors will be required to contact you directly before opening an account or making changes to an existing account. You might consider enrolling in a paid service that monitors your credit report and alert you when someone applies for a credit in your name or account information has been altered.
Browse the Internet Safely. A lot of people are online at any given time; some are thieves that steal your identity. These people are called hackers and they can collect information from unsuspecting “pop-ups,” browsing unsecured networks or hacking into retail websites. Frequently update firewall protections on your computer and always use a secured network. Limit the amount of personal information you post on the internet.
Consider having identity fraud protection insurance. Some insurance companies offer a identity fraud protection insurance. This insurance could not protect you from becoming a victim, but it could provide coverage for the cost of reclaiming your financial identity, such as the expenses of placing phone calls, making copies, mailing documents, taking time off from work without pay and hiring a lawyer. Make sure you understand what you are purchasing and compare prices, coverage and deductibles among multiple insurers.