Personal Privacy

Financial Information Privacy

When someone's personal information has been stolen for the purpose of gaining access to that person's finances, they have fallen victim to identity theft. Although you can never be completely immune to identity theft, there are some guidelines to follow that will help defend your identity and credit and give you some peace of mind.

Keep your social security number a mystery.

When social security numbers were first assigned back in 1936, the government maintained that their use wouldn't go beyond social security programs. As time passed, the social security number (SSN) began to take on a new meaning and was eventually used for record keeping purposes by everyone from the Department of Motor Vehicles to insurance companies. Most of the time, it is not mandatory to give private businesses your SSN. But, a business does reserve the right to deny you services if you refuse to give them your SSN. Lastly, don't ever carry your social security card on your person.

Keep track of credit and bank statements.

Examine the sequence numbers when new checks arrive to verify no suspicious activity has occurred. Also, stay on top of your credit card billing cycles, and if you don't receive your bill in a timely fashion, call your creditors right away. If your bill has gone missing, it could be a sign that someone has tampered with the address linked your account, or the bill has been robbed from your mailbox. In the meantime, the thief can tally fraudulent charges unbeknownst to you.

Destroy all documents containing personal financial information.

Investing in a paper shredder is a wise decision. Make sure you destroy all pre-approved credit or loan offers that come in the mail. Shred credit card receipts and statements as well, since criminals often get ahold of this information by rummaging through garbage. One way to cut down on the odds of this happening is by opting out of pre-approved credit offer mailing lists. You can do this by calling 1-888-567-8688.

Back up your credit accounts in case of emergency.

Compile a list of your credit cards and the associated customer service hotlines so that you can cancel them immediately in the event they are lost or stolen. Also, make photocopies of each side of your credit and debit cards, driver's license, social security card, and passport. Lock these up in a home safe or the safe deposit box at the bank.

Check for browser security when shopping online.

When completing a purchase over the Internet, it is essential to use a secure website, or you should probably reconsider going through with the sale entirely. Computer savvy individuals will pounce on web surfers who do not worry about protecting their information, and identity theft can happen just the same as it may if someone digs for papers through the trash. Recognizing you're on a secure site is easy; simply look for the yellow padlock symbol that appears at the bottom of your web browser. It's also not a bad idea to familiarize yourself with the company's privacy policy and how it protects the data you surrender.

Memorize PINs.

Don't ever be careless enough to write a Personal Identification Number (PIN) on an ATM card or on a piece of paper that you store in your wallet or purse. When selecting a PIN, don't choose one that someone could guess. For example, your birth date, street address, or any portion of your phone number or social security number are unsafe options. It is not a good idea to carry around bank and investment account identification numbers or any other personal financial information.

Don't give out personal information without thinking first.

Unless you know you're dealing with a trustworthy company, and you reached out to them first, reassess whether you should be providing them with bank account information, stock holdings, or any other financial records over the phone, online, or through the mail.