Financial Reflections

Who’s in your wallet? It might be more than a some dead presidents and a few bank logos.  Identity theives have gotten rather creative when it come to getting your information, so I thought I’d outline some of the ways they do their dirty deeds so we can defend against them.
 
So without further ado, here’s a list of common ways your identity can  be stolen (and some proposed solutions):

1. Dumpster Dive – Identity theives turn your garbage into gold by grabbing your discarded statements, pre-approved card offers or anything that might have your personal data.  Solution: destroy documents, including unopened offers before tossing them.
2. Skimming – When you give your card to a waiter or cashier who’s up to no good, they may swipe your card twice, “skimming” the data off of your card’s magnetic stripe so they can make a fake card.  Solution: Be aware of who’s using your cards and how.  Check your card statements and immediately report any fraud.
3. Going Phishing – Nearly everyone has gotten an email from X bank or Y credit card claiming there’s a problem, and if you could just click a link and log in, everything would be fine.  Solution: Just say “no.”  You can verify an email is legit with the site, install software that checks for bad sites, type in the site name rather than clicking the link in the email or just realize that if an email from someone you don’t know personally is in your “Spam” folder, it’s probably there for a reason.
4. Shoulder Surfing – This is ultra low-tech snooping.  Ever anounce your credit card number and expriation or SSN over the phone where others could hear?  Ever punch in your PIN so someone could see it?  Well, if you do, someone can get the inside track on your data.  Solution: Keep it (your voice) down and keep it (your fingers) covered.
5. The Job Rob – This is one I hadn’t heard of before.  Someone presents you with a fake job offer, you reply with a full resume with your home address, phone and who knows what else.  Solution: Use reputable job sites, use the “confidential search” feature they offer to keep your data private until you verify the recruiter.
6. Gone, But Not Forgotten – Where is that old PC you threw out last year?  A land fill?  Possibly a hacker’s basement?  In a variation of the dumpster dive, high-tech hackers can revive your old disk drive and pick through your data — even files you thought were erased — and get the info the need.  Solution, destroy old disk drives and/or “wipe” them clean before you get rid of or sell them.
7. Alice Doesn’t Live Here – The thief falsely forwards your mail somewhere else and takes your data.  Solution?  Be aware of your mail situation.  If it stops for a few days, check with the post office and your cards to make sure your address information is right.
8. Social Engineering – You’ve got to be smooth to pull this one off, but it has been a favorite of hackers for years.  The thief just smooth-talks his or her way into getting the target to give up information.  Solution: No tech support person will ask you for your password  Be very aware of who you are talking to.  Don’t give your credit card number out on a call you didn’t originate.
9. The Search Is On: I wrote before on how Google can get you fired, but it’s really any web site, especially social sites where people feel they should give away far too much personal information.  Theives just start searching and find someone with loose lips.  Solution: Don’t just give it away.  You may think your MySpace page only has a few “friends” but it may have plenty of enemys you can’t see.  If you’re in doubt, don’t give it out.
10. The Hack – Full scale hacker attacks on your PC or big data warehouses.  Solution: You can’t do Choice Point’s job for them, but you can install virus protection and other software to keep your PC safe.
11. (Bonus Item) Actual Theft – Pickpockets and other thieves actually take your wallet or purse but do far more than the old school grab-the-cash-and-toss-the-rest routine.  They can just start trying to use your data and cards right away.  Solution: Know where your wallet is and report any theft to the police, banks and anyone else who needs to know.

My solutions aren’t foolproof, and you should look for even more ways to keep yourself guarded.  What’s a little depressing is that it isn’t all under our control as so many organizations have a piece of the data that defines us as, well us.

Later, I’ll get out a post on how to deal with theft once it’s happened.

Got an ID theft story?  Know some other tips to keep us protected?  Let me know in the comments below.