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Tips for Protecting Yourself from Identity Theft

We've all seen the Citibank commercials where young criminals speak through the mouths of their identity theft victims . It's not a pretty picture.

Yet, the reality of getting your identity stolen may be even more ugly. Think of all the time spent and hassle involved with retracing your new enemy's tracks. After using your personal info to set up credit card accounts, having fun literally at your expense, your credit score's gone to pot and you have to spend months if not years digging yourself out of their hole.

Not fun is it?

What's the best way to counterattack these thoughtless thieves? The short answer is to prevent it from ever happening in the first place. But these days, it takes a lot more than holding onto our wallets to prevent thieves from stealing our money. Identity theft criminals are getting savvier.

To stay one step ahead of them, here are five steps you can take to secure your savings:
Prevent Anti-Theft Thieves . Thieves these days are taking advantage of anti-theft technologies to steal credit card information from several feet away. Yes it's true. The Better Business Bureau in Michigan wrote about it on their Detroit site this past December. It's called " electronic pickpocketing " and can be done with Radio Frequency Identification (RFID) technology.

How does it work? According to the article, RFID is the same type of technology used in stores and libraries to scan for stolen items and books. And it can be accessed through an individual’s laptop and Internet device to obtain your personal information. Scary isn’t it? Thank goodness for the BBB who provides tips on their website, like wrapping your credit cards with foil.
Be a stickler when it comes to giving out information. You may have received an email from what looks like a reputable company requesting your information. Similarly, someone may call from your favorite department store asking to update your personal information in his or her system. What should you do?

Before handing over your details, find out who they are, why they need this information and what it will be used for. If you are skeptical about any online company asking for information in an email or newsletter (as you generally should be), go directly to their website instead of clicking on the email and contact a representative to make sure the information you received is legit.

Alexis A.