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Last Updated: Jul 2nd, 2008 - 21:15:22 |
(ARA) - Retailers across the nation aren’t the only ones working overtime this holiday season – so are identity thieves.
Identity theft is the nation’s fastest growing crime, as every three seconds someone falls victim to the various scams thieves use to steal identities. Last year, the Federal Trade Commission estimated one out of ten Americans fell victim to identity theft, costing consumers five billion dollars in out-of-pocket expenses, while U.S. businesses suffered losses nearing 48 billion dollars.
And while it doesn’t take long to have your identity stolen, the gruesome recovery process is not the way to ring in the New Year. Victims now spend an average of 600 hours recovering from this crime, often over a period of years.
With the busiest shopping season of the year upon us, experts caution that consumers can become easy targets. So what can you do to protect yourself?
Internet shopping and phone orders, while convenient for those looking to avoid long lines, can leave people especially vulnerable. According to the FTC, they account for more than 20 percent of all identity theft cases. In many instances, identity thieves will try to gain personal information by calling or emailing under false pretenses, such as bank or credit card representatives. Your safest bet? Always contact your bank or credit card provider directly.
As for the remaining 80 percent, not all identity thefts are high-tech. One of the most common techniques is to intercept mail from your mailbox or go “dumpster diving,” literally digging through an unsuspecting victims trash searching for sensitive information.
These dumpster divers look for financial statements, credit card receipts and even credit card offers, which can leave consumers vulnerable. As holiday shopping escalates, more people will use their credit cards, open store credits to save money, and view their bank statements more frequently. The easiest way to safeguard your credit from identity theft is to shred documents and materials containing personal information before throwing them away.
“Identity theft has affected millions of people, especially around the holidays, and having a shredder in the home is one of easiest ways to protect yourself and others, “ says Jay Foley, executive director, Identity Theft Resource Center. “Shredders are quickly becoming a mainstream necessity for home owners.”
And with the peak buying season upon us, there’s no better time to buy a shredder for yourself and loved ones.
Foley recommends purchasing a shredder that can destroy credit cards, and has a confetti-cut shredder head so that documents come out completely unidentifiable. A new shredder available for the holidays, the Fellowes Powershred DS1, not only offers these superior security features, but is ideal for homes with pets or children. Its patent pending Safe Sense technology disables the shredder when it detects the touch of a human or large pet at the shredder’s “throat,” or paper opening.
The DS1 also combines a contemporary exterior design with function – doubling as a trash can – so it’s something that can sit in a foyer or kitchen without looking out of place.
In addition to having a shredder in the home, Foley also suggests these tips for safe, stress-free shopping this holiday season:
* Limit what you carry on you. Keep social security cards in a safe location and not in your wallet. Your social security number is the golden key to financial identity theft. Also limit any other information that includes your social security number, including Medicare cards. If you must carry with you, photocopy your cards and cut the last four digits off of the photocopied card.
* Check your credit report periodically. The Fair Credit Reporting Act (FCRA) requires each of the nationwide consumer reporting companies – Equifax, Experian, and TransUnion – to provide you with a free copy of your credit report, at your request, once every 12 months.
* Be aware of everyone around you. A person you least expect may be dipping their hand into your wallet, purse or shopping bag to extract information. There are also “shoulder surfers,” or people who will steal your credit card information, sometimes with a camera phone, while you are making purchases.
* Don’t give out your credit card information over the phone while in public domains. In fact, never give out your credit card information unless you are the one that originated the call.
For more information on how a shredder can protect your identity this holiday season or to access a buying guide on how to select the ideal shredder for your home or office, visit www.fellowes.com and www.idtheftcenter.org.
Courtesy of ARA Content
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