| This morning, I heard a particularly scary story about identity theft. Usually, when this issue comes up, it's about dealing with personal identity theft. As individuals, we need to know how to protect ourselves and, unfortunately, recover from identity theft when our identities are stolen. But as business owners and professionals, especially those of us who are sole proprietors whose personal and professional identities are interwoven, we must be all the more cognizant of the financial and productivity costs of identity theft.
Over the next few weeks, I'd like to cover a variety of issues in this regard. Today, we'll talk about organizing to prevent personal identity theft; next week, we'll deal with steps to take to recover if you ever become a victim. Following that, we'll be exploring the myriad issues of how business identity theft can impact your customers and clients, your employees, your business, and you.
Are you already feeling pretty safe from identity theft? Good, then you'll probably enjoy this interactive quiz from from the Privacy Rights Clearinghouse. And do you think you're savvy enough to tell whether an email is legitimate or you're being "phished" for personal information by a scam artist? Then try this Phishing IQ test.
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Organizing is about saving time and money, increasing productivity and reducing stress, but skipping one small step in the organizing process can actually endanger your finances, your future and your good name. You probably know how important it is to eliminate unnecessary paper clutter, but with identity fraud one of the fastest growing crimes in the United States, it’s equally important to safeguard your personal data.
Each time you rifle through your daily mail or finish preparing your tax return, you may be tempted to discard unnecessary scraps of paper in the trash. Research indicates, however, that the number one source for identity thieves to get your private information is not the Internet or hacking corporate accounts, but old-fashioned dumpster-diving. In the war on identity theft, be sure you aren’t providing the bad guys with any ammunition.
Before tossing any paper into the trash, I strongly urge you to follow these guidelines to protect your hard-earned credit history.
SHRED any documents that can be used to help a thief set up a false version of your identity. These items include unused pre-approved credit card offers, bank and credit card convenience checks, balance transfer forms and anything bearing account or Social Security numbers, PINs or phone/Internet passwords.
CUT UP expired or cancelled credit and debit cards into tiny pieces to ensure that no one could piece them back together. Do not be tempted to just cut the card in half. While a brick-and-mortar store would not accept a card cut in two, a thief can still use the numbers to make Internet and catalog purchases and would still have access to the powerful three-digit access code on the signature line on the back of the card.
NEVER PROVIDE YOUR PERSONAL INFORMATION (including Social Security numbers, credit card numbers, account numbers or passwords) via standard email, nor over the phone if you did not initiate the call. If a store cashier asks you to provide your Social Security number on a check, refuse to do so. The momentary annoyance of explaining your reasoning to the store manager is far less than the frustrating loss of time and money spent repairing your damaged name.
On the Internet, credit card purchases are only considered secure transactions if the purchase is made on a page whose address starts with https:// instead of the usual http://. Also, look for a small lock-shaped icon in the lower left corner of your browser, indicating the merchant has made efforts to secure your personal data.
DON’T GET PHISHED. It’s much more likely that an identity thief would try to steal your personal information via a sneaky email than by phone, as one crafty email sent to thousands can yield a much bigger payoff than a "long con" (as scam artists say) beginning with a phone call. Thieves create a false email and hide behind the mask of your financial institution for the purpose of getting you to click on a link they provide and enter personal data.
If you ever get an email stating that there is a problem with your bank or credit card account, or your Paypal or eBay account, directing you to click on a link to log in and check or change your information, STEP AWAY FROM THE COMPUTER! Then take a deep breath, delete the email and log in to your account through your browser’s “bookmark” or “favorite” listing or by manually typing the usual address into your browser.
Some attempts at phishing are crude and laden with misspellings and awkward phrasings. However, identity thieves are becoming very adept at creating sophisticated emails and faux sites which appear identical to the form and style of a financial institution’s logo, font and infrastructure.
MEMORIZE your personal identification numbers (PINs) and passwords. Hide them in safe locations away from prying eyes and hackers. If you have a poor memory and must keep your passwords accessible, consider creating a cheat sheet with the clues instead of the actual passwords. For example, instead of writing down your password of ElvisVermontMaple, write down “1stConcertFavoriteSyrup”, or some equally obscure bit of information to hint at the information only you need to know.
Be sure to keep PINs away from the cards they protect, and never carry your PINs in your wallet. Again, the modern world is keeping your memory fuzzy, write clues. If your PIN is 0401, the clue might be “My mom didn't raise a fool” to stand for the date 04/01 (i.e., April Fool’s Day). When you are given the opportunity to pick your own PIN numbers, NEVER use your birthday or part of your Social Security Number. Aim for numbers representing obscure dates significant for sentimental reasons (like your first kiss) or the jersey numbers of your two favorite athletes.
STORE cancelled checks, line-of-credit or convenience checks and account statements out of the sight and out of reach of delivery, sales or service workers, pollsters or fundraisers. You may think you’d never let these people past your doorstep, but it’s impossible to foresee what might distract your attention, such as the cries of an injured child from the back of the house.
SIGN new credit cards as soon as they arrive and store them in a safe place, away from your home’s high traffic areas. If it is necessary for you to carry the card with you, immediately put it in your wallet or card-holder, and guard plastic as diligently as you do your cash.
CHECK your credit history report with all three credit-reporting agencies annually. Request reports from:
Equifax---800-685-1111
Experian---888-397-3742
Trans Union---800-680-7289
You can even get these reports for free, once per year, by going to http://www.AnnualCreditReport.com. This site is an official joint venture of the three reporting agencies. Do not be tempted by similarly-titled web sites (like "Free Credit Reports.com" or "Safe Credit Reports.com" which purport to provide you with free credit reports, but first require you to pay for membership or purchase other services.
Review the reports to ascertain that no accounts were fraudulently opened in your name. Also check to make sure that you are not listed as an authorized user for any card to which you do not have access. Report any suspicious or incorrect information to the credit reporting agencies immediately.
Also, if you suspect check fraud, contact the major check verification companies to request that retailers using their databases be notified not to accept stolen checks:
Telecheck-----------------------------------------800-710-9898
International Check Services---------------800-631-9656
Equifax---------------------------------------------800-437-5120
Your credit history is synonymous with your good name. Identity thieves don’t have a shred of decency, so don’t give them a shred of evidence to use against you!
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Obviously, organizing can't prevent all aspects of identity theft. However, the more organized you are at maintaining your paper and information, the better your chances will be at making any identity-related catastrophe less catastrophic. Next week, we'll cover the ways to organize yourself to recover from identity theft. Until then, be careful out there!
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Julie Bestry, Certified Professional Organizer®
Best Results Organizing
"Don't apologize. Organize!"
organize@juliebestry.com
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