Protecting Yourself from Identity Theft

January is the traditional time of year for rebirth, renewal and reflection. The winter solstice having just passed, days become longer and we make resolutions for self-improvement with an eye to the future. However, while the large majority of us make plans for constructive improvement to our identities many less scrupulous people (however, no less industrious) make plans to steal. I am speaking of Identity Theft.

Identity Theft is when someone uses your personal information without your approval to commit fraud. Such fraud can manifest itself in a multitude of ways ranging from credit taken out in your name to accounts being hijacked. Costs to you of these crimes range greatly in personal liability

Since New Years is sandwiched between major gift-giving holidays and tax season, financial improvement is a common theme for resolutions; there are many opportunities to shore up your personal defenses as well as to become a victim. Let's explore the former to prevent the latter.

Here are 5 easy-to-implement ways to protect yourself against identity theft.

1. Phishing (pronounced 'fishing') - Phishing is when criminals email you pretending to be a legitimate company or organization requiring your personal or financial information. These emails may look very professional and claim that your bank or the government needs to update their records and ask for account and Social Security numbers. In some cases they may have a link to an official looking site for you to enter your information there. Your bank or other financial institution will never ask for this information over email. Any reputable places you shop on-line will not either. This includes common websites where you may have purchased gifts on-line such as EBay, Amazon, PayPal, etc. If you are concerned about updating your financial records, be certain to contact that institution directly. If there is a phone number in such an email, do not call it!