*This is a guest post*
Identity theft has become a major problem today and it effective people from all walks of life. Seniors, however, seem to be particularly at risk because many of these scammers try their best to confuse the seniors and trick them into giving them their personal information. The problem is that if the wrong person gains access to your personal information, this can wreak havoc on your finances and your life. If you are a senior, it is extremely important that you understand the dangers of identity theft and know how to avoid being scammed.
What Information Are Identity Thieves After?
Identity thieves are after as much of your personal information as they can find, including your name, address, phone number, work information, and of course banking information. They will then use this information to open up fraudulent bank accounts, obtain a passport, or they may even engage in illegal activity using your name and information. These thieves will go to great lengths to try to obtain this information including calling your home and pretending to be your bank, go through your mail, and even search through your garbage can.
Tips for Avoiding Identity Theft
The good news is that there are steps you can take to protect your identity and avoid the risk of someone else using your identity. Below is a look at some of the best ways to avoid identity theft.
***Never give out your personal information over the phone or to someone who come to your home. For example, if someone calls your home and claims to be from you banking institution and ask for any of your personal information, never give it to them. Instead, hang up and either call your local branch office or go to the bank yourself. Tell them that someone contact you by phone claiming to be them. The bank will be able to let you know if this was actually the bank or a scam.
***Never carry more personal information in your purse or wallet than you need. All other important documents should be kept at home in a locked box or in a safe deposit box at the bank.
***Always shred any mail or documents that contain any of your personal information before throwing it out in the trash.
***If you are not typically home when the mail is delivered, consider purchasing a home mailbox with a lock on it. This will still allow the mail to be delivered to your home, but will prevent anyone else from sorting through your mail.
***Carefully check your bank statement each month and be on a look out for any purchases that you did not make. If you notice anything odd on your statement contact your bank immediately.
***It is also recommended that you request a copy of your credit report on an annual basis. This will tell you if any accounts and loans were opened up under your name without your approval.
***If you use your cell phone for banking purposes, be sure to set a passcode on your phone. This will prevent someone from getting into your personal account if you lose your phone. Also, be sure to report your phone as missing to your phone company as soon as possible.
***If you check do your banking from your home computer, including making online payments or checking your account balance, be sure to always log out of each website when you are finished.
***You should also be sure to install a high-quality anti-virus software on your computer to prevent unwanted hackers from obtaining your information.
What to Do if You Think Your Identity Has Been Stolen?
If you think that your information has been stolen, you must take action immediately. Depending on your specific situation, you may only have so many days to report the theft. So do not delay. If there is a problem with your bank or you notice charges to your account that you did not make, you should contact your financial institution immediately.
On the other hand, if you notice items listed on your credit report that do not belong to you, you must send an official letter to the credit reporting agencies explaining the problem. Be sure to include you contact information in the letter. In addition, you should also contact your local police department and explain the situation to them. They will have the resources to help you with your problem.
Read about other great personal finance topics at Simple Living Australia, they cover a range of topics from debt, savings, income, frugal lifestyle and more.
