Have a safe school year with Master Lock

It's that time of year again as kids are preparing to head back to school.  With all the electronic gadgets they carry now, from cell phones, to iPods, to mp3 players, the risk of theft is much greater than it once was.  Add to that the fact that young adults are the most at risk of identity theft and it becomes imperative to keep both them and their electronics safe.  Here are some ways to protect them:

- Remind them not to give personal information to anyone.  This applies to both strangers online, but also to their classmates.  We are all aware of the dangers that can come into play when someone shares their location with a stranger, but their classmates can use their personal information to steal their identity.

- Teach them now to shred and destroy all papers with their personal information and account numbers on them.  My oldest daughter has been receiving credit card offers since she was 2 years old.  We immediately had her credit report ran to make sure that her credit had not already been compromised and we check it regularly for her still.  We also shred all credit offers that come in her name.  On top of shredding the information, we then throw the shreds into a garbage bag with the grossest garbage we can find, such as poopy diapers, conveniently left open and any foods that might have gotten left in the back of the fridge.  We want to make sure no one wants to even try to piece the shredded papers back together.

-  Keep their electronics safe with Master Lock 5900D SafeSpace which provides protection for electronics, cash, keys and other items that they carry with them.  The oval-shaped, foam-lined case features an integrated cable that can be securely anchored to a fixed object or used as a handle for convenient carrying. The Master Lock 5900D SafeSpace is available in white, grey and even pink (my favorite!) and retails for under $20.

Although my children do not attend regular school, I still find it is important for them to follow the above hints to keep themselves safe and to ensure their identity remains their own.  You can visit Master Lock's facebook page to test your own safety and security knowledge and to enter the Master Combo Challenge.

Disclaimer
This post contains affiliate links.  Also, by posting about Master Lock, I am entering a contest for a Master Lock back-to-school prize pack as a member of the Mom Bloggers Club.

                              

Money Monday: Identity Theft Part 3

The past two Mondays we have discussed identify theft and how to protect ourselves. This week I will discuss what to do if you believe you are a victim of identity theft.

First, contact the fraud department of the major credit bureaus. Equifax fraud department can be reached at 800-525-6285; Experian fraud department can be reached at 888-397-3742; and Transunion fraud department can be reached at 800-680-7289. Let them know that you suspect, or know, that your identity has been stolen and that you would like a "fraud alert" placed on your credit file. You can have an "initial alert" placed if you suspect that your identity was stolen or if your identifying information has been compromised. This will stay on your cresit report for at least 90 days and entitles you to one free credit report. An "extended alert" remains on your report for 7 years. You will need to provide an "identity theft report" to the credit reporting company. You will also be entitled to 2 free credit reports within 12 months. Any business who checks your credit must verify your identity before issuing credit. When you speak with the fraud department be sure to request your free credit report and then carefully review it to identify any unauthorized accounts or charges.

You also want to place a "security freeze" on your credit file by contacting the three major credit reporting agencies. *NOTE*: These are different phone numbers than those used to contact the fraud departments. Transunion: PO Box 6790, Fullerton, CA 92834 or 800-916-8800; Equifax: PO Box 105788, Atlanta, GA 30348 or 800-685-1111; and Experian: PO Box 9554, Allen, TX 75013 or 888-397-3742. It does not cost any money to have a security freeze placed on your file.

Next, for any accounts that have been fraudulently opened or accessed, immediately contact the security department of the financial institution or creditor. be sure to follow up in writing as well. Close all accounts that have been fraudulently accessed or opened and open new accounts that are password protected.

Identity theft and fraud are both felonies punishable by law. Be sure to file a police report as soon as possible. Keep a copy of the report to give to creditors, financial institutions, and the credit reporting agencies as proof that a crime was committed. Submitting a police report can block the reporting of fraudulent data on your credit report.

You will also want to contact the ID Theft Clearinghouse at 877-438-4338 to report the theft. This is managed and maintained by the FTC (Federal Trade Commission) and has counselors available to provide additional consumer advice. The Clearinghouse also serves as a central database for law enforcement of identity theft complaints.

If you have had personal checks stolen or lost, notify the bank immediately and have a "stop payment" issued for all the missing checks. You may also contact the major check verification companies to request that they notify retailers not to accept the lost/stolen checks or you can ask your bank to notify the check verificaiton service it uses. The 3 major check verification companies are: Certegy, Inc at 800-437-5120; International Check Services at 800-526-5380; and TeleCheck at 800-710-9898.

If your government -issued id (license, non-driver id, etc) has been stolen, contact the issuing agency and follow their procedures for cancelling the document and getting a replacement. If you believe the thief used the mail to steal your identity, contat the US Postal Service.

Senior citizens and disabled persons (at least in NY state) may be eligible for crime victim compensation to cover out-of-pocket expenses for financial counseling. NY residents (seniors or disabled) should contact the NYS Crime Victims Board at 800-247-8035.

Money Monday: Identity Theft Part 1

Each year, approximately 10 million Americans are affected by identity theft. It is the most common consumer fraud complaint and the fastest growing financial crime. Victims spend an average of two years and thousands of dollars to clean up the damage that is caused by identity theft. Some of them will lose jobs, be refused loans, or even be arrested for crimes they never committed.

Victims can be any age and often children are targeted since most parents do not check their childrens credit reports. It is not until the child applies for credit themselves that they discover that their credit is destroyed before they ever got to use it.

How to Protect Yourself

-Safeguard your personal information. Your social security number, bank account information, credit card numbers, and passwords should be inaccessible to others. If you employee outside help in your home, such as housekeepers or even babysitters, be sure your information is secure.

-Use your social security number as little as possible. When asked to provide your social security number for something, ask if you can use another form of identifying information. Do not put your social security number or telephone number on a check when making payments.

-Limit what you carry on you. Do not keep your bank account numbers or social security card in your wallet. Only bring them when you absolutely need them. Only carry the credit cards that you plan to use. Keep copies of everything you have in your wallet that contains personal information and immediately report to the proper places if your wallet is ever stolen.

-Find out how personal information will be used. When asked to supply personal information, ask exactly how it will be used and who it will be shared with. Make sure they know you do not want them to share your information with anyone else.

-Place passwords on all of your accounts. Passwords keep someone who does steal your information from being able to access the account by simply having your basic information. Be sure to use a password that is not commonly used (mother's maiden name, date of birth, etc). You can password protect your credit cards, bank accounts, and utility accounts.

-Properly dispose of documents. Be sure to shred (cross cut shredders are best) or burn any papers with person information on them and any preapproved credit offers. To further protect yourself, dispose of the shreddings in a bag with dirty diapers and/or rotten food or saucy foods.

-Protect your mail. Place outgoing mail in a collection box or at the post office and be sure to collect incoming mail promptly. Try to avoid having checks mailed to you by using direct deposit whenever possible.

-Be careful when using ATMs. People around you can not only steal your PIN, but can take a picture of your ATM card and steal the number. Also, check the slot where you insert the card. If it looks odd, do not use it! There is a device that can be placed over the correct slot and it steals your information, yet allows you to bank as normal so you are unaware.

-Reduce the number of credit card offers you receive. Call 1-888-5OPTOUT and have your name removed from marketing lists. Be sure to have your financial institutions not share your information with non-affiliated companies.

Part 2 of this article, with more ways to protect yourself, will be posted next Monday and Part 3, with what to do if your identitiy is stolen, will be posted the following Monday.

I am using a brochure from the New York State Consumer Protection Board, titled A Consumer Guide to Preventing and Responding to Identity Theft, as a resource for these articles.