7 Tips to Prevent Identity Theft

According to Wikipedia identity theft is a term used to refer to fraud that involves someone pretending to be someone else in order to steal money or get other benefits. The term is relatively new and is actually a misnomer, since it is not inherently possible to steal an identity, only to use it. The person whose identity is used can suffer various consequences when he or she is held responsible for the perpetrator's actions.

How do you prevent identity theft? Here are the top tips:

1. Your expired credit cards: Destroy not only your card but the chip as well. Cut your cards into pieces so that nobody can pick up any clues by rummaging through your trash.

2. Review your monthly statements: Check your monthly statement to ensure that all charges tally with your records. Notify the bank when you don’t receive your monthly bank or credit card statements.

3. Use your credit cards with care: Make it a habit that transactions are done in your presence; this is to avoid fraudulent uses of your cards.

4. Personal information: Do not give away personal information over the phone easily especially those relating to your credit cards and passwords.

5. Shop online with care: Shop only at secure sites, such as https:// with an ‘S’.

6. Check your credit status: Get your free credit reports online from Equifax, TransUnion, and Experian or CTOS in Malaysia.

7. Keep your personal documents in a safe place: Your personal identification card can be subjected to fraudulent uses if lost. Your lost card can be used to obtain a bank loan by someone else and the crook allows the loan to default. Eventually, you are declared bankrupt without your knowledge. That is why you need to check your credit status from time to time.

Handle your credit cards and personal identification card with care to avoid needless identity theft.