What can consumers do to prevent fraud?
Steps to Take to Help Prevent Fraud:
1. Shred all personal and financial information - such as
bills, bank statements, ATM receipts and credit card offers - before you throw it away.
Always read bank and credit card statements carefully and questions any items you do not
recognize.
Keep an eye on all your transactions, no matter how small,
someone taking advantage of your account may only take out a small amount of money to
check your account is live and then seeing if you notice.
2. Keep your personal documentation (e.g., birth
certificate, Social Security card, etc.) and your bank and credit card records in a secure
place.
Any documents containing personal details should not be
dumped in a trash bin, but should be shredded.
Shred documents that contain personal details. You should
also destroy junk mail and documents with your name and address - even envelopes.
Consider asking for a cross-paper shredder for Christmas,
which take the hassle out of destroying papers by slicing them up, making them impossible
to read.
At the same time, lock away all important documents and
financial records. Your most valuable paperwork, including the title deeds to your home
and share certificates, should be kept either in a safe or at a safe deposit box at your
bank.
3. Call the post office immediately if you are not
receiving your mail. To get the personal information needed to use your identity, a thief
can forge your signature and have your mail forwarded.
Keep a note of when you usually expect to receive your bank
statements to insure that your mail is not being stolen.
4. Be aware of your surroundings when entering your
Personal Identification Number (PIN) at an ATM. Never give your personal identification
number (PIN) to anyone else.
Prevent people taking money from your account by never
revealing your personal identification numbers (PINs), used when withdrawing money or
making purchases with credit and debit cards.
Your bank will never ask you to reveal your PIN, nor will
it ask for your full password.
Nor should you write down your PIN - try to remember the
numbers, and destroy notices informing you of your PIN as soon as you receive them.
While you can change your PIN to something easier to
remember at a cash machine, for added security you should avoid using the same PIN on more
than one account.
If you have several accounts, you may be tempted to select
numbers that are easy to remember such as the year you were born, but these can be easily
guessed by hackers and criminals, so try to choose alternative combinations.
5. Limit the number of credit cards and other personal
information that you carry in your wallet or purse.
6. Report lost or stolen credit cards immediately.
7. Review and consider whether you need currently inactive
card accounts. Even when not being used, these accounts appear on your credit report,
which is accessible to thieves. If you have applied for a credit card and have not
received the card in a timely manner, immediately notify the appropriate financial
institution.
8. Closely monitor the expiration dates on your credit
cards. Contact the credit issuer if the replacement card is not received prior to your
credit card's expiration date.
9. When moving, always inform your bank, credit and retail
credit card companies and utility companies of your new address.
Redirecting your personal mail and bills maybe the last
thing on your mind when you are moving home, but it is essential to avoid leaving you
exposed to identify theft.
10. Change your online passwords frequently. If you use
your date of birth, a maiden name, a child's name or child's birthday as a password, that
should certainly be changed.
While using the same password for more than one account may
seem the easiest option, it will not be the most secure. It is also advisable to avoid
using your online banking passwords on other websites.
11. Sign all new credit cards upon receipt.
12. Review your credit reports annually.
13. Match your credit card receipts against monthly bills
to make sure there are no unauthorized charges. |
