Courtesy of the Wisconsin Better Business Bureau
WISCONSIN – The Wisconsin Better Business Bureau (BBB) recently provided tips on how to spot and avoid identity theft scams.
“Scams are designed to either steal your money or your identity to steal your money later,” BBB said in a release. “Scammers have all kinds of techniques to collect personally identifiable information (PII). Once they have it, they can become you, using your identity to open accounts, file taxes or obtain medical coverage.”
How identity theft scams work
How do people steal your identity? With enough personal information, a scammer can pretend to be you and commit many crimes. They can make false applications for loans and credit cards, withdraw money from your bank account or obtain services in your name. They can also sell your information to others on the Internet.
Identity theft may take a long time to detect. Scammers ensure that bills and statements for new accounts are not sent to your address. You may notice what is happening once the scammer has already inflicted substantial damage on your assets, credit and reputation.
If you believe you are a victim of identity theft, it is essential to act quickly. In the U.S., visit www.identitytheft.gov for information on how to stop and recover from identity theft.
Tips to spot this type of scam
Look for unexplained withdrawals, charges and accounts. Review your bank account and credit card statements regularly. Look for unfamiliar charges, accounts or withdrawals. Know when your bills are due; one tip-off for identity theft is when you stop receiving certain bills. This can happen because scammers have changed the address associated with your bank account or credit card. If bills don’t arrive on time, follow up with your creditors. Debt collectors may call you about debts that aren’t yours. You can also set up automatic alerts on your accounts so you are notified every time a transaction is made.
Check your credit reports regularly for unauthorized inquiries and accounts. In the U.S., you can check your credit report with each of the three major credit bureaus once per year at www.AnnualCreditReport.com. This is the only free crediting reporting service authorized by the Federal Trade Commission. Space these checks out throughout the year, and you will quickly know if something is wrong.
Protect yourself against this scam
Be careful with your personal information. Treat your personal information like the valuable commodity it is. Ensure you shred documents containing your bank account information, Social Security/Social Insurance number or other personal information. These include credit card applications, insurance forms, financial statements, health forms and billing statements from utilities and phone services. Cut up expired credit and debit cards, and cut through the numbers before you dispose of them.
Secure personal documents at home. If you have roommates, employ outside help or have contractors in your home, ensure personal documents are in a safe place – preferably under lock and key – and not lying out in plain sight. Minimize personal information on checks. You don’t need to include your Social Security number, driver’s license or phone number.
Be alert to phishing attempts. Scammers are sophisticated; their phishing attempts may come via email, text, social media messages or even phone calls. Be suspicious of any unsolicited communication asking you for personal information. Whether it’s a supposed tech support call, an offer for a free cruise, or a charity plea, they may be after your personal information.
Protect yourself against hackers:
- Use strong passwords or passphrases. Avoid using your birth date, child’s name or birth date, mother’s maiden name, the last four digits of your Social Security number or really obvious ones like “123456” or “password.”
- Change your passwords frequently.
- Use different passwords for each online account or website.
- Be careful about the types of information you share online, especially if it is information that could be used to get past security questions on your accounts (things like your first car, first pet’s name, city where you were born).
- Shred outdated documents with personal information. While you should keep your tax returns forever, you should shred supporting documents for your tax returns after seven years. After one year, shred bank statements, pay stubs and medical bills (unless you have an unresolved insurance dispute). Shred utility bills a month after they had been paid.
To report a scam, go to www.bbb.org/scamtracker.
To learn more about how to protect yourself against scams, visit www.tinyurl.com/zmda9jhc.
About BBB
For more than 100 years, the Better Business Bureau has been helping people find businesses, brands and charities they can trust. In 2021, people turned to BBB more than 200 million times for BBB Business Profiles on 6.3 million businesses and Charity Reports on 25,000 charities, all available for free at www.BBB.org. There are local, independent BBBs across the United States, Canada and Mexico, including BBB Serving Wisconsin which was founded in 1939 and serves the state of Wisconsin.