Identity Theft: Online Precautions

​​There is no avoiding consumer and business fraud these days.

 A friend of mine who works in fraud prevention for a credit reporting agency shared with me that it is best to start with the assumption that all your information is already out there. With AI now front and center, and taking over the world apparently, the incidence of fraud will likely increase exponentially. Now is the time to take control of your personal information.  

The Identity Theft Center, a nonprofit in San Diego, has a website full of preventative measures that one can take.  They also offer podcasts, webinars, and research papers. Their mission is to provide free assistance to individual victims of identity crimes and compromises. 

Who is at Risk?  

We know our seniors and the elderly are most at risk, as well as our teens and young adults. Have you ever thought about the frequency of fraudulent attempts that you experience in any given week or month?  Recently, over the course of one week: our household received a solicitation letter masquerading as our public water service (selling “insurance” for sewage lines), my husband learned through a confirmation letter from Home Depot that someone applied for credit in his name (as well as at Menards), and my Chase Sapphire Reserve card was hacked and used at 3 retail vendors within a 24 hour period.  This was all over the span of one week! 

Fortunately for us the safeguards put in place by the credit card companies worked, and we were notified within hours of the attempts.  Not so easy to discern was the masquerading water company. Their logo looked like the one the water utility company uses, and the letter was written in a way that led one to believe this insurance was necessary. 

Most Common Sources of Scams  

The potential for fraud is everywhere.  However, there are risks that are more common. 

• Credit cards 
• Bank Accounts, primarily checking accounts 
• Home computer  
• Mobile Device /Telephones 

Be Proactive 

This is by no means an exhaustive list of tasks to secure your identity.  However, implementing these changes will go a long way in protecting you and your loved ones. 

 Credit Cards  

• To the extent possible, have parents/spouses/children add you as a proxy.  This means they will share information with you, but you are not an authorized user. 
• Check accounts frequently. 
• Freeze their/your credit with each of the three credit reporting agencies (this is free).  Just remember to unlock the freeze if they are purchasing a new car, phone plan, etc. 
• Annually pull the free credit report from each agency and review them for accuracy 
• Reduce the number of open and used credit cards to 1 or 2 
• Lock up cards and documents with personal data that aren’t being used. 

 Bank Accounts 

• Never, ever use debit cards.  If/when you receive one from your bank, call them and cancel the number. Then cut up the card.  If you need cash, use your ATM card. 
• Consider using a digital wallet.  Digital wallets have safety mechanisms not available to physical cards. 
• Check account activity regularly. 
• If possible, have your parents/children add you to their account for oversight purposes. 

Home Computers 

• Obtain a list of all your elder parents’ online usernames and passwords.  When you visit, have them change their passwords and record the new ones. 
• Invest in virus protection and make sure it runs continuously. 
• Remind them not to click links within emails unless they know the sender 
• Make sure their social media profiles are set to private, not public 
• Coach them not to message on FB 
• Coach them not to interact with anyone on any social media platform.  In 2021 the incidence of identity theft on social media increased by 1044%!  Instagram and Facebook were the major sources. Go to the source to verify legitimacy. 
• Do not click on pop ups.   
• Do not use a public network, invest in a VPN. 
• NEVER, NEVER give anyone who contacts you your social security number. 

Mobile Device 

• Use a security pin and/or biometrics to unlock the home screen. 
• Update contact list with vendors and doctor names. 
• Don’t answer calls from unrecognized numbers, even if doesn’t say spam risk. 
• Do not share information, particularly if someone says they are from a legitimate company.  Look them up and call the company with the telephone number under their business listing to verify their legitimacy. 
• Do not click on links in texts 

 How can we navigate this fraudulent landscape?
 

• AARP’s monthly bulletin does a great job of publishing the latest scams and sharing preventive measures.  This month’s feature is an article of what to NOT keep in your wallet.  It is an excellent reminder.  If you don’t get it, sign up for AARP. 
• Check in with your parents frequently and check the sources above. 
• Have honest conversations about the risks. 
• Do your own fraud audits, verify settings, account users, passwords, active credit cards, etc. 
• Contact the Identity Theft Resource Center at 1-888-400-5530