With identity thieves,
you can’t be too cautious

On Investments
By Jeff Kane

I would like to make sure I am not a victim of identify theft. Do you have any advice for me?

Before tossing that credit-card statement in the garbage and walking it outside to the driveway for the upcoming waste pickup, you may want to think twice. Your rubbish may get some unwanted attention from lurking identity thieves before the trash truck’s morning arrival.
As identity theft becomes increasingly prevalent, with nearly 9 million American adult victims reported last year, according to the Federal Trade Commission’s Identity Theft Survey Report: 2006, it is essential that you take steps to protect yourself and your nest egg.
Remember, while most identity thieves victimize their targets using old-fashioned techniques like mail theft and Dumpster diving, others are using more sophisticated electronic forms of theft.
To prevent identity thieves from targeting you, there are some easy guidelines you can follow.
Never e-mail sensitive information: When using e-mail, never include account numbers, user names, passwords, Social Security or PIN numbers, or credit-card information. You should also avoid using other information you deem confidential (e.g., passport information, photos, etc.).
Limit personal information: Never disclose personal information over the phone or via e-mail unless you initiated the correspondence.
Pick Web site passwords carefully: When using the Internet, choose user names, PINs and passwords that are difficult to guess. Do not use your birthday, phone number or obvious personal data. It also is important to type your log-in information each time you go online instead of letting your Internet browser save your log-in information.
Practice Internet safety: You should try to avoid using public computers to review personal information and account details because simply closing your browser does not automatically clear the browser’s memory. Information stored in cache is still available until deleted. When you are using the Internet, look for sites that offer Secure Sockets Layer (SSL) technology. SSL is denoted by a locked padlock in the lower right-hand corner of your browser window. Also, when you log on to a secure site, "http" in the address bar will change to "https." These two things indicate that the site is secure.
Update anti-virus software: Make sure your anti-virus software is current, and enable your personal firewall on your PC.
Review privacy policies: When applying for an account or ordering a product online, review the Web site’s privacy policy to make sure you are dealing with a reputable company.
Shred it: Shred and destroy receipts and documents containing credit-card information and your Social Security number.
Use caution with outgoing mail: Deposit outgoing mail in the U.S. Post Office boxes rather than in your home mailbox.
Know your credit report: Review your credit reports from the three main credit bureaus (Equifax, TransUnion and Experian) at least annually. You can request your report online at www.annualcreditreport.com. If you notice that the information on one of your credit reports in accurate, contact the credit bureau to investigate.
Watch your statements: Be mindful of unusual purchases or transactions on your statements and report them immediately. Also, if your statement appears to have been opened and resealed, contact the issuing institution at once.
If you suspect your personal data has been violated or you have become a victim of identify theft, call 877-ID-THEFT immediately. ••
Jeff Kane is a financial planner and investment broker with the Horsham office of A.G. Edwards & Sons Inc. Questions may be submitted to Mr. Kane by calling 215-659-2500, Ext. 126, or by faxing him at 215-659-8041. Visit his A.G. Edwards’ home page on the Internet at www.agedwards.com/fc/jeffrey.kane