Protect Your Identity

As the giving season approaches, you don’t want to give identity thieves your information. Even if some obese chuckler in a red suit knows if you’ve been bad or good, only those you’ve acknowledged should know how you’ve been spending your money.

Every year an estimated 9 million Americans lose out to identity theft, according to the Federal Trade Commission. Experts say identity theft increases during the winter holiday season, which makes sense: all those credit card swipes and gift cards make plenty of noise to mask mischief.

So while you’re bustling around in holiday hoopla, slow down enough to watch your data. You’ll be gladder in the new year if you follow these tips.

Protect yourself in cyberspace. If you don’t recognize the sender of a holiday eCard, if some stranger wants you to download an “executable program” or if you get an email without your address, delete it. Fred Touchette, senior security analyst with AppRiver, also warns against following links that are provided for you in an email, especially if you are unsure of the sender. A ffake eBay or PayPal log-in page can usually indicate a rat. If you’re not sure of a link’s authenticity, just paste the URL into your browser.

Along similar lines, don’t debit your online purchases. Debit cards can remove funds immediately from your bank account, letting thieves bypass the check a credit card company makes when an unusual purchase appears. You might even dedicate one credit card for online shopping only, so you can easily scan a single statement for fraudulent purchases.

When shopping, look for a “lock” icon in your browser, and log off completely when finished with online transactions. Closing or minimizing your browser or typing a new Web address may not be enough to prevent others from accessing your online transaction. Instead, click “log off” to terminate your online session. In addition, don’t allow your browser to “remember” your username and password information, says Joe Reynolds, Identity Fraud Product Manager with the massive insurance concern Travelers.

When shopping traditionally, adds Reynolds, think about how much information a thief would obtain if your wallet or purse was stolen. Avoid carrying Social Security cards and passports and credit cards you don’t plan to use.

Keep your secrets secret (always bear in mind)

Making a list? Checking it twice? Here are a few items to add. Keep all your credit card and bank information stored in a secure place, along with telephone number or email address for the customer service and fraud departments, so that you can use them immediately if needed. (Of course, my colleague Fred Bernstein will tell you that customer service can sometimes cost you some peace of mind.)

Create unique passwords whenever possible. Use an alphanumeric system (a combination of numbers and letters) to ensure your password is impossible to guess and difficult to crack, suggests Charley Moore, CEO of RocketLawyer.com. Do not give out personal information over the telephone, by mail or the Internet unless you are dealing with someone you have an established relationship with, advises financial advisor Tony Keena.

And know that identity thieves see no shame in rummaging through the garbage. “Be careful what you throw away,” says Mark LaPenta, chief technology officer at MetLife Bank. Shred all documents and mail that contains personal information before tossing.

Security software can help, as can common sense. There’s no need to be paranoid, but plenty of security in being proactive. Says LaPenta,”It can take months - or possibly years to get your life back in order, and clear your name.”

Now do your patriotic duty and start shopping!