Fraud & Identity Theft Prevention for the Holiday Season

The holidays are here, and for some, the season of giving is also a time for taking.  The bad news is that statistics show during the 12 days leading up to Christmas nearly a quarter of a million Americans will lose something that Santa will not be able to replace – their identity.  With identity thefts occurring at the rate of an average of 25,000 each day, the holiday season is just as big an opportunity for identity thieves as it is for retailers.  Here are tips from Wells Fargo & Company to protect your identity and your money from fraud.  Before heading out the door or logging on to your favorite websites, review these tips:

Monitor purchase activity:  Remember to review your account activity regularly, especially when you’re busy shopping for the holidays.  Enroll in mobile banking so you can view a snapshot of your accounts while on the go and monitor your purchase activity online from home. Also sign up for transaction alerts for your checking account, debit card, and credit card to receive text or e-mail notification about account activity.

Don’t over-share on social websites:  During this holiday season, when using the internet for keeping in touch with friends and family as well as for making purchases, remember not to “over-share.”

Be careful what you disclose:  Be wary of special holiday offers or requests for personal or financial information via e-mail, text message, phone, or website for interactions you didn’t initiate.  If you’re suspicious about a request for your information, verify that the request is legitimate by calling the number on the company’s website or billing statement.

Protect your computers from malware with regular anti-virus updates:  Updating anti-virus software on your computer is the first step toward protecting yourself.  Remember not to download suspicious attachments or plug-ins.  When making purchases, be sure the website address starts with “https.” The “s” helps ensure that your information will be passed along in a secure manner.

Take the paperless route with online banking:  The 2010 Identity Fraud Survey Report from Javelin Strategy & Research showed that some fraudsters continue to access personal and financial information the old-fashioned way — by stealing bank or credit card statements from the mailbox.  Reduce your risk of stolen mail by retrieving mail promptly and switching to online statements.

Ensure you’re protected in case of theft: Check with your financial institution to ensure you’re covered if funds are removed from your account.

Know what to do if you lose your handbag or wallet:  Take a moment to inventory or photocopy the personal and financial information you carry in your handbag or wallet, including items such as your driver’s license, bank cards, checks, and credit cards. Store your inventory list or photocopies in a secure location. This important step will help you know whom to contact if your handbag or wallet is lost or stolen.

Remember, there is always so much going on during the holidays.  Everyone is rushing around getting last minute gifts and finalizing travel plans, but don’t forget to put your safety first.