Protecting Your Personal Information

And then there are unscrupulous individuals, like identity thieves, who want your information to commit fraud. Identity theft - the fastest-growing white-collar crime in America - occurs when someone steals your personal identifying information, like your SSN, birth date or mother's maiden name, to open new charge accounts, order merchandise or borrow money. Consumers targeted by identity thieves usually don't know they've been victimized. But when the fraudsters fail to pay the bills or repay the loans, collection agencies begin pursuing the consumers to cover debts they didn't even know they had.

The Federal Trade Commission (FTC) encourages you to make sure your transactions - online and off - are secure and your personal information is protected. The FTC offers these tips to help you manage your personal information wisely, and to help minimize its misuse.

• Before you reveal any personally identifying information, find out how it will be used and whether it will be shared with others. Ask about company's privacy policy: Will you have a choice about the use of your information; can you choose to have it kept confidential?
  Read the privacy policy on any website directed to children. Websites directed to children or that knowingly collect information from kids under 13 must post a notice of their information collection practices.
• Put passwords on your credit card, bank and phone accounts. Avoid using easily available information like your mother's maiden name, your birth date, the last four digits of your SSN or your phone number, or obvious choices like a series of consecutive numbers or your hometown football team.
• Minimize the identification information and the number of cards you carry to what you'll actually need. Don't put all your identifying information in one holder in your purse, briefcase or backpack.
• Keep items with personal information in a safe place. When you discard receipts, copies of credit applications, insurance forms, physician statements, bank checks and statements, expired charge cards, credit offers you get in the mail and mailing labels from magazines, tear or shred them. That will help thwart any identity thief who may pick through your trash or recycling bins to capture your personal information.
• Consider ordering a copy of your credit report from each of the three major credit reporting agencies (CRAs) every year. Make sure it's accurate and includes only those activities you've authorized. CRAs can't charge you more than $9.00 for a copy and in some states, your credit report is free.
• Use a secure browser when shopping online to guard the security of your transactions. When submitting your purchase information, look for the "lock" icon on the browser's status bar to be sure your information is secure during transmission.